A leading financial services firm seeks a Compliance professional to work in the firm’s Compliance division, and focus on the new Department of Labor ‘Fiduciary’ Conflicts of Interest Rules.
As part of the Department of Labor team within the Brokerage Compliance Department, the Senior Compliance Analyst will be responsible for helping to implement the firm’s strategy with the Final Rule – Definition of the Term ‘Fiduciary’ Conflicts of Interest Rule-Retirement Investment Advice (‘Fiduciary Rule’) and related exemptions as well as compliance monitoring and tasks associated with firm exemptions.
This individual will assist the Compliance Manager, DOL Compliance in implementation of the Fiduciary Rule’s Best Interest Contract, as well as any other relevant exemptions determined necessary as the firm’s strategy evolves.
The Compliance person will be involved with the following:
* Conduct monitoring for compliance with the firm’s Department of Labor Anti-Conflict Policies and Procedures including but not limited to the Impartial Conduct Standards.
* Conduct monitoring of Broker recommendations for adherence with firm policies and procedures and evidence of application of appropriate standard of care.
* Assist in creating and managing a compliance risk monitoring program for the Department of Labor’s Impartial Conduct Standards (no materially misleading statements, conflicts of interest and reasonable compensation).
* Maintain an understanding of industry and competitor developments related to the Fiduciary Rule.
* Assist with the annual 408(g) audit for the digital advice channel.
* Assist in developing and establishing metrics and escalation paths for reporting monitoring observation results to the appropriate departments.
* Assist in program development as the Department of Labor Fiduciary Rule evolves.
* Assist in strategic initiatives as they relate to the Department of Labor Fiduciary Rule and related exemptions.
* Liaise with other teams in Enterprise Compliance to assist with Fiduciary Rule regulatory requirements (e.g. complaints, ECOM, Surveillance, etc.).
* Become a subject matter expert to assist the firm with questions related to the Fiduciary Rule.
* Other Department of Labor and Enterprise Compliance related projects.
* Undergraduate degree from a 4-year institution
* 3+years relevant Compliance/Audit/Risk/Control experience at a broker-dealer, investment adviser or regulatory/self-regulatory organization
* Working knowledge/understanding of laws, regulations and standards relating to brokerage and advisory products and services included but not limited to rules established by the SEC, FINRA and the Department of Labor (e.g. ERISA and the Fiduciary Rule).
* Working knowledge and understanding of retirement products including, but not limited to, IRAs and ERISA governed employer plans
* Ability to identify and assess compliance risks
* Demonstrated analytical, written and oral communication skills
* Strong desire to learn and ability to thrive in an environment of regulatory uncertainty
* Self-motivation, time management and organizational skills
* Ability to accept instructions and directions while executing against tasks on an autonomous basis
* Maintain open communication with other members of Compliance Department
* Proficient in Microsoft Office suite of products including Outlook, Word, Excel and PowerPoint
* Series 7 and 24 licenses
* Relevant experience with the Department of Labor’s Fiduciary Rule, the Employee Retirement Income Securities Act of 1974 (‘ERISA’), and related exemptions (Best Interest Contract and 408(g)1)
Please feel to email resumes to Jack Kelly at Jack ComplianceSearch com