(1) The Office of Financial Management established in KRS 42.0201 shall be headed by an executive director responsible to the secretary of the Finance and Administration Cabinet, and appointed by the secretary upon approval of the Governor in accordance with the provisions of KRS 12.050.
(2) There are included in the Office of Financial Management established in KRS 42.0201 the positions of deputy executive directors for investment and debt management, who shall be employed in the classified service as set forth in KRS Chapter 18A.