The Compliance Department’s primary goal is to meet the regulatory and compliance needs of the Firm, continuously striving for efficiency and effectiveness. The Compliance Department periodically audits departments; provides training; maintains registrations; responds to complaints, handles privacy breaches and responds to regulatory requests and is the principal interface for the firm during regulatory exams. In addition, a few of the Compliance Department’s responsibilities include FINRA 3110 Supervision and Supervisory Control and FINRA 4311 Clearing Firm Notification to IBD of Reports, reviewing employee trading, and responsible for Blue Sheet reporting.
The Chief Compliance Officer (CCO) will report to the Chief Legal Officer. This position requires a thorough knowledge of FINRA, MSRB, securities exchanges and SEC rules and regulations regarding Broker/Dealers and Registered Investment Advisors. The CCO serves as the principal advisor to the CEO, the executive risk committee and Board of Managers for compliance issues. The CCO develops and implements compliance policies, manages the day-to-day compliance activities, works closely with Senior Management, Operations, and IT on projects and issues. The candidate must be to be able to work independently, have attention to detail, and be familiar with the firm’s WSPs, policies and procedures.
- Advisor to the firm’s executive risk and other committee on compliance matters.
- Monitor reports of various activities with correspondent brokerage firms, RIAs and COR.
- Manage and ensure timely firm responses to all governmental and regulatory inquiries.
- Assist with regulatory exams and requests, including drafting responses and overseeing the collection of relevant information in response to these exams and requests.
- Oversight of various compliance duties.
- Ensure compliance with firm projects.
- Collaborate with Internal Audit on the testing of firm supervisory controls.
- Monitor and implement SEC and FINRA rule changes.
- Assist in maintaining current Books and Records.
- Establish and maintain a monitoring system regarding Direct Accounts.
- Primary liaison to correspondent brokerage firms to advise of compliance issues.
- Work with senior management to determine and provide all CE training.
- Responsible for maintaining currency and accuracy of firm WSPs, Policies, Programs and Procedures.
- Strong interpersonal skills.
- Effective communicator.
Desired Skills and Experience
- Broad knowledge and understanding of laws and SEC and FINRA regulations and rules affecting financial services institutions.
- In-depth knowledge of securities products and industry best practices.
- Minimum of eight (8) years of prior securities industry experience. Preferably five (5) years in compliance.
- FINRA licenses – Series 7 and 24.
- Attorney licensed to practice in the U.S.
- Portfolio Management knowledge.
- Excellent organizational and time management skills.
- Strong problem solving skills.
Please email resumes to Jack Kelly at Jack@ComplianceSearch.com.