Conquering Current Compliance Challenges
Aug. 14, 2019 | 2:00 - 2:30 PM EST

Conquering Current Compliance Challenges
Recorded: June 11, 2019 
Includes: Best Practices, Key Regulatory Issues and Compliance Tips
Includes: 23 Best Practices, 5 Peer-tested tools and 15 No Action Letters


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Trust Protector See Full Posting>

We have a client who is wanting to add an individual portfolio manager to his Trust as a Trust Protector (TP). I have reviewed the rights that a Trust Protector would have. However, I am confused on whether or not this constitutes custody. A TP can modify a trust document, increase or decrease the interests of any beneficiaries, modify power of appt terms, terminate the trust, among other things.

For example, the settlor may wish to appoint a trust protector who is a professional financial manager and give the trust protector the power to approve or veto the trustee's investment decisions. The settlor may also want to appoint a trust protector to oversee the trustee's management of the trust assets if he feels that the trustee may eventually be unable to make good decisions at a later time because of poor health or advancing age. In addition, the settlor could give the trust protector the power to review and approve the trustee's accounts. Obviously, a trust protector's powers need not be limited to financial oversight. Instead, the settlor may wish to give a trust protector the power to approve or veto discretionary distributions of trust assets to beneficiaries. In fact, the trust protector can be authorized to approve or veto any exercise of discretion by the trustee.

Could someone shed some light on this issue for me? Thank you.

Credit Card Payments for Financial Planning See Full Posting>

Does anyone allow for credit card payments to be made by clients for financial planning fees? If yes, are there any additional books and records/rules we need to follow for this?

Thank you!
Third Party Checks See Full Posting>

I have had different answers to the following issue:

Checks received in our office made payable to a clients account or the custodian (not sent by the client; ie: class action proceeds) and then deposited in clients account is then considered having custody. We always understood if a check was made payable to an account or a custodian that the this was not custody.

Im wondering what others thoughts are on this or if you have had any conversations with the SEC on this issue?

Thank you.

Looking for a list of keywords for email and social media compliance monitoring See Full Posting>

I have a team developing ML models to perform near-real-time checks on email and social media posts. I'm looking for keywords and/or lists of posts/content that have been identified to be non-compliant or at risk. I would appreciate any help or consultation. Thank you.

Cybersecurity Compliance Consultant See Full Posting>

I am seeking recommendations for cybersecurity consultants. We are a small fund manager (<$500M in AUM, <10 employees). My primary objective is to engage a consultant that can: (i) lead a cyber risk assessment, (ii) assist in reviewing / revamping our WISP, and (iii) evaluate our 3rd party I/T services provider to ensure they are providing appropriate levels of cybersecurity. thanks so much for any recommendations.

Email Review of HR and CEO Emails See Full Posting>

All: How do investment advisers monitor the emails of their HR departments, CEOs, etc. as it relates to protecting sensitive information about which those people correspond. Do you monitor those employees the same as everyone else, carve them out completely, have the CCO review, etc.? If you limit the review of those employees to certain senior compliance staff, can you provide details? Thank you.

Compliance Analyst Role in Boston See Full Posting>

Compliance Analyst

Posted: June 27, 2018
Boston, MA, United States

Berkshire Group's core competency is in the multifamily real estate segment and is widely recognized as a fully integrated multifamily investment management firm. With properties extending throughout the United States, Berkshire Group provides investors with national reach and local market presence and expertise.

Berkshire Group has leveraged the tremendous talent and the deep bench strength of its team to become a fully integrated company capable of acquisitions, value creation, asset rehabilitation, professional property management, and disposition services. The ability to provide all of these core services and effectively utilize entrepreneurial sourcing to maximize efficiency is what sets Berkshire Group apart from its competitors.

Under the general direction of the Deputy Chief Compliance Officer, the Compliance Analyst will support the Compliance Department for the Berkshire Group.

ESSENTIAL FUNCTIONS: (These are the main duties/tasks of the position and the important in order to be successful)
• Prepare and submit required regulatory filings for multiple federal, state and foreign regulators
• Support the administration of the firm’s Code of Ethics through our automated compliance system (Schwab CT)
• Research various regulatory obligations and draft proposals to implement applicable controls
• Work closely with Berkshire’s marketing team to review marketing material and other firm deliverables for compliance with regulatory requirements
• Review and test internal policies and procedures to ensure appropriate coverage and consistency
• Monitor compliance publications and resources for industry trends and best practices
• Maintain an orderly compliance folder subject matter correspondence and document files
• Independently manage all phases of compliance projects with limited supervision
• Provide assistance with ad-hoc legal and compliance projects and requests as needed
• Perform Anti-Money Laundering checks on new investors in our funds
• Work with external compliance consultants to prepare for the annual compliance review
• Assist with periodic employee compliance training

The Company may revise this job description from time to time as business needs require. It is not intended to be an exhaustive listing of all the functions of the job, nor is to limit the Company right to assign other functions to an employee in this position. This job description does not constitute a written or implied contract of employment.

Leadership Advanced
Learning Agility Advanced
Legal Advanced
Industry Knowledge Advanced
Dependability Advanced
Computers / Technical Advanced
Compliance Management Advanced
Decision Making Judgment Advanced
Business Knowledge Some Knowledge
Communication Advanced

Thought Provoking: Capable of making others think deeply on a subject

Dedicated: Devoted to a task or purpose with loyalty or integrity

Team Player: Works well as a member of a group

Leader: Inspires teammates to follow them

Loyal: Shows firm and constant support to a cause

Detail Oriented: Capable of carrying out a given task with all details necessary to get the task done well


Flexibility: Inspired to perform well when granted the ability to set your own schedule and goals

Entrepreneurial Spirit: Inspired to perform well by an ability to drive new ventures within the business

Self-Starter: Inspired to perform without outside help

Ability to Make an Impact: Inspired to perform well by the ability to contribute to the success of a project or the organization


Bachelors or better in Law or related field.


1-3 years: 1-3 years’ financial services experience, preferably in a legal or compliance role

Apply online at or contact for more information.

Compliance job opening in Los Angeles See Full Posting>

Nuveen Investments, Inc.
Position Description

Position Title: Principal Compliance Advisor
Reports to: NWQ / SBAM Chief Compliance Officer
Location of Position: 2049 Century Park East, Los Angeles, CA
Department/Division: Compliance
FLSA Status: Exempt

Company Overview
Nuveen is an indirect separate operating subsidiary of Teachers Insurance and Annuity Association of America (TIAA), a leading financial services provider. As a TIAA company, Nuveen provides comprehensive compliance support to multiple affiliated registered investment advisers under the Nuveen umbrella, two of which are located in Los Angeles (“LA Based Advisers”), NWQ Investment Management Company, LLC and Santa Barbara Asset Management, LLC.

Position Summary
The Principal Compliance Advisor provides day-to-day support to assist in determining the adequacy and effectiveness of implementation of Nuveen’s LA Based Advisers’ policies and procedures.

Primary Responsibilities
• Transactional, monthly and quarterly monitoring of written policies and procedures related to portfolio management, trading, operational and regulatory processes;
• Preparing and maintaining accurate documentation of all monitoring activities;
• Developing new or enhancing existing monitoring procedures;
• Identifying new conflicts and risks as a result of monitoring and suggesting enhancements to eliminate and/or mitigate the conflicts and risks;
• Maintaining accurate, up-to-date desk procedures of all monitoring functions; and
• Ad-hoc projects, as assigned.

• In-depth knowledge of the Investment Advisers Act of 1940, as amended;
• IACCP or similar certification is a plus;
• Proven skill in collecting and analyzing complex data and drawing valid conclusions;
• High level of proficiency in Microsoft Excel;
• Excellent written and verbal communication skills;
• Exceptionally organized with strong attention to detail; and
• Ability to multi-task, work under time constraints, and meet deadlines.

To Apply Send Resumes To:

Job Opening: Broker-dealer CCO in Denver or Cleveland See Full Posting>

The Chief Compliance Officer (“CCO”) of Victory Capital Advisers, Inc. (“VCA”) will be the CCO of the limited purpose broker-dealer that distributes the Victory Funds (member of FINRA and SIPC). As a member of our compliance team, you will be based in Cleveland, OH or Denver, CO. You will be a member of a centralized team that has overall responsibility for the firm’s compliance program including developing policies and procedures, training, testing and assessing the compliance programs of the broker-dealer, the fund complex (“Victory Funds”) and the registered investment adviser, Victory Capital Management Inc. (“VCM”).

Essential Functions
• Draft and maintain policies and procedures to ensure that the broker-dealer compliance program meets applicable laws and regulations and ensure that advisors’ operations are conducted in compliance with applicable policies and procedures.
• Design and implement a compliance oversight program that is effective in preventing, detecting and mitigating violations of applicable law or firm policies.
• Responsible for directing, developing, implementing and maintaining compliance monitoring, risk assessments, reporting, testing, tracking and applying regulatory priorities as well as industry best practices.
• Ensure the firm has reasonably designed written supervisory procedures (WSPs) to supervise the activities of its associated persons and the types of businesses in which it engages.
• Administer the overall advertising and sales material review program including marketing of products sold through separate accounts, mutual fund and ETFs.
• Support compliance efforts related to Advertising, Training, Email Surveillance, Branch Office Exams, Regulatory Examinations, FINRA licensing and registrations and Anti-Money Laundering.
• Work with senior management, Legal, Compliance, HR, Marketing, registered representatives and other key constituencies to train, promote and enhance a culture that encourages ethical conduct and a commitment to compliance with applicable laws and regulations.
• Monitor the effectiveness of established compliance processes and controls and recommend and implement enhancements.
• Assist regulators, auditors, Compliance personnel and business unit management with regulatory exams and inquiries
• Provide compliance support for new product initiatives.
• Integrate industry benchmarking and best practices through ongoing research, education and industry affiliations

Required Qualifications
• Bachelor’s Degree required and at least 7 years of applicable experience working in the securities industry, working for an investment adviser or broker-dealer.
• Series 7 and Series 24 securities registrations required or must be obtained within 12 months.
• Thorough knowledge of the broker-dealer business from a product, corporate governance, compliance and administrative perspective.
• Strong knowledge of FINRA and SEC rules and regulations.
• Excellent ability to interpret and communicate regulatory guidance.
• Proven knowledge of securities laws, regulatory compliance, risk management and risk controls.
• Strong subject matter expertise in marketing review, including the development and maintenance of a marketing material and collateral review program for products such as separate accounts, mutual funds, ETFs, UCITS, collective trusts and wrap programs.
• Ability to interact with all levels of the organization including the Executive Management Team.
• Ability to work well under pressure and under tight deadlines.
• Excellent verbal, written and interpersonal communication skills.
• Ability to collaborate across business lines to handle conflicts.
• Advanced Microsoft skills.
• Ability to prioritize workload and prioritize for effectiveness in meeting deadlines.
• Ability to work independently and adapt to changing and competing priorities.

Preferred Qualifications
• Significant compliance experience is required, preferably including experience as a CCO, deputy CCO or an equivalent role.
• Advanced degree.
• Well-versed in investment process, securities operations, and proper governance practices.
• 7-10 years of legal and/or compliance experience, or related experience in driving initiatives related to governance and control functions, or deep knowledge in investment adviser regulatory operations.
• Proven ability to interact with and influence members of senior management and a highly entrepreneurial and independent minded sales force.
• Experience initiating, directing, developing, implementing and maintaining written policies and procedures governing compliance activities.
• Advanced understanding of ’40 Act, Advisers Act, ETF, UCITS, MiFID, and NFA regulations and industry best practices.
• Experience coordinating FINRA broker-dealer or SEC broker-dealer or registered investment adviser exams and responses.
• Experience with email archiving/review and online training management.
• Ability to travel up to 5%.
• Series 7, 24, 63, 65 and/or 66 licenses.

Apply online:

Firmwide Continuing Education Additions to the same old same old See Full Posting>

Hello All,
I am a compliance officer at a small Hedge Fund in SF (with no retail clients or branches) and like to invigorate to the extent possible our firm's Annual CE meeting in 2 weeks. I was wondering what others were putting in their content.
The traditional topics we cover are:
Duty of Loyalty/General Code of Ethics
Personal Trade Policy
Cyber Security
AML (limited applicability to us, but still...)
Update on SEC
Insider Trading

I am thinking of introducing 2 new topics this year:

Ethics and use of Texting for firm communications

I welcome any additions, be specific as you would like!

U4/U5 timing See Full Posting>

A new IAR is starting with our SEC registered RIA (registered in NC, residing in NY). Do we have to wait until after his old firm U5s him before we U4 him? Thank you in advance.

Fingerprinting See Full Posting>

Is anyone else an RIA in NYS that can tell me what the fingerprinting process is when there is a new IAR being brought on?

Job Opening: RIA in NYC Looking for a Compliance Associate See Full Posting>

RIA in NYC Looking for a Compliance Associate

Key Responsibilities:

• Work with the Chief Compliance Officer (CCO) to support Firm-wide compliance programs and initiatives
• On-going compliance monitoring and testing of the compliance program; perform periodic testing of documented compliance processes and procedures; document Code of Ethics testing and prepare reports
• Review regulatory filings, documents, correspondence, and advertising materials for compliance and keep abreast of ongoing changes in the regulatory environment.
• Assist with compliance review and approval of marketing materials
• Communicate pertinent information with regulatory agencies, outside counsel, auditors, and third-party vendors and contractors
• Assist with coordination of all regulatory examinations and compliance audits, and conduct initial and ongoing due diligence on sub-advisers
• Effectually maintain all books and records as required, pursuant with applicable regulations and keep entities current on all regulatory filings
• Attend various compliance seminars and training sessions and effectively communicate the contents of the presentations to the Firm’s associates
• Conduct reviews and forensic tests that support policies and procedures reasonably designed to prevent, detect and correct violations of anti-corruption laws, including the FCPA, and to address risks and conflicts of interests
• Under guidance from senior compliance personnel, interact with business unit partners in order to ensure effective controls are in place to ensure compliance with applicable rules and regulations
• Assist the firm in implementing corrective actions as identified by the compliance program

Key Qualifications:
• Ideal candidate will have two years of experience
• Room for growth
• Strong Excel, Power Point, Word skills

Please send resumes to

DOL Rule for RIAs See Full Posting>

Scenario: A client says my firm downsized and I want to roll the asset over to an IRA and have us manage the assets. We explain the due diligence we must do for the new DOL rules. The client says I don’t care the difference in expenses or assets I just want it rolled over and you manage it.

**Question: ** Will the firm meet the DOL requirements if we prepare a document for the client’s signature that says exactly what the client’s wishes are? It seems that if we’re putting the interests of the client first, then their wishes should come first. We can discuss their options without going into details of expenses and investments. However, if they want everything consolidated with us, aren’t we meeting their needs first?

Sidenote: We are strictly an RIA that does not sell product

Thank you in advance for your response.

Account termination fees See Full Posting>

When a fee-based account transfers away, do firms have a provision for the "xx days written notice" where-in the fee continues to be collected? Or, a flat account termination fee? Or, any other account closing fees?

Adviser Client Account Appraisal/Statement Disclaimer Language See Full Posting>

Our firm, an SEC-registered adviser, manages fixed income and equity/ETF strategies, and we are currently undertaking a complete revamp of our adviser quarterly account appraisals delivered to clients. As part of this process, we are considering necessary disclaimer language that we should include on our account statements. Would any of our industry colleagues be so kind as to share the disclaimer language they use on their appraisal? Any and all advice/suggestions would be greatly appreciated.

Job opening - RIA in Stamford CT See Full Posting>

Hillswick Asset Management, LLC
Job Description

Job Title: Trade Settlement & Operations Administrator
Reports To: CAO
FLSA Status: Exempt

Summary: Manage all aspects of trading support through trade settlement, cash reconciliation, client reporting and account maintenance.

Duties and Responsibilities include the following. Other duties may be assigned.

  1. Process and verify trades. Prepare, analyze and exchange internal and external reports of outstanding unverified/failed/missing trades.
  2. Administer and maintain clients’ accounts. Reconcile cash & securities daily and monthly.
  3. Interact daily with brokers and custodian banks in resolution of failed trades.
  4. Prepare and distribute daily, monthly and quarterly reports including posting various reports to the websites.
  5. Calculate and record prices for funds (weekly, monthly) based on data provided by custodian banks.
  6. Process corporate actions.

Oral Communication Skills
Written Communication Skills
Math Aptitude
Planning Skills
Problem Solving
Time Management
Computer Literacy
Attention to Detail

Bachelor’s Degree with specialization/concentration in business or finance preferred.

Contact Info:
Radha Lai: 203-425-1420

Job Opening - Operations Specialist, Kansas City, Missouri See Full Posting>

Atwood & Palmer, Inc.
4520 Madison Ave
Suite 200
Kansas City, MO 64111
(816) 931-2266
Contact: Teresa Burch - CCO,

Atwood & Palmer, Inc. is an independent Registered Investment Advisor based in Kansas City, Missouri. The team of experienced financial advisors provides customized investment management solutions and comprehensive wealth management plans for institutional investors and individuals.

This position is for a full-time Operations Specialist that will be joining a dynamic team, supporting the service and operations of the firm. The Operations Specialist is client-focused and is responsible for providing operational and service support for Atwood & Palmer, Inc. clients. Individual must be able to work independently with excellent time management skills as well as collaborate and effectively interact as a team member. A successful candidate will need to be able to think creatively, work in a fast-paced environment and effectively prioritize. The position requires a high level of confidentiality and professionalism.

Primary Job Functions:
Assist in the management of our CRM and Client Reporting systems ensuring client information is updated in all databases.
Track asset movement and account openings
Monitor and coordinate alerts across all systems
Prepare, review, process, and followup on account maintenance paperwork, transfer of assets, money movements, beneficiary changes, address changes, emailing documents, and more
Monitor client’s cash positions
Interface with clients, internal staff, and third parties
Generate and organize materials for client meetings
Maintain client web portals
Attend client/prospective client meetings as needed
Actively participate in the firm’s compliance
Special projects as assigned by advisor or operations
Trained to on-board new clients by preparing all necessary paperwork and establishment of accounts, and interacting with multiple custodians

Able to work with limited supervision; self-motivated; good interpersonal skills; and adaptable to change.
Highly organized with strong attention to detail and follow up.
Ability to work under pressure and persistent in getting things done
Ability to critically analyze information and make recommendations
Strong problem-solving skills along with Strong analytical and quantitative skills
Ability to work as a member of a team with collaborative decision making
Must demonstrate professionalism and diplomacy and be able to work with a variety of personalities
Ability to communicate effectively with others in a concise, productive and professional manner – both verbally and in writing
Proficient in Microsoft Office programs; advanced level Excel
Experience with investment reporting applications and custodial platforms
Finance or business related degree or 5+ years work experience in the financial services industry
Previous experience in Advent APX or Tamarac AdvisorView preferred, not required.

Client On-Boarding Platforms/Solutions See Full Posting>

We are an RIA that has both direct clients and dual contract sub-advisory clients, and are considering options for electronic client on-boarding. Ideally, we would like to transition away from our reliance on paper for the execution of our investment management agreements, the completion of KYC forms, the completion of any custodial bank forms, etc.

We had a demo with Agreement Express, and their product seems to be geared directly toward asset management/financial services. Has anyone used this product previously? If so, thoughts? Are there any other providers out there our peers are using to accomplish a similar goal? Appreciate any and all insight.

Job Opening See Full Posting>

General Re Corporation, a subsidiary of Berkshire Hathaway Inc., is a holding company for global reinsurance and related operations. It owns General Reinsurance Corporation and General Reinsurance AG, which conduct business as Gen Re.
New England Asset Management, Inc. (NEAM) is a wholly owned subsidiary of General Re Corporation and provides asset management services primarily to the insurance industry. With assets under management in excess of $65 billion, NEAM services include investment management, capital management, risk analytics and investment accounting services. NEAM’s culture is team oriented, collaborative, and intellectually curious.
We currently offer an excellent opportunity for a Compliance Officer /Contract Administrator in our NEAM office in Farmington CT.

Position Description:

NEAM is currently offering an excellent opportunity for an experienced compliance professional who will report to the Chief Compliance Officer (CCO) and take an integral role in helping to manage and contribute to the Company’s compliance program. The Compliance Officer will work independently, and in conjunction, with members of the legal and compliance teams and resolve problems through the application of experience and judgment. The Compliance Officer will assist with the administration of the compliance program and support efforts related to compliance oversight, monitoring and testing of policies and procedures as well as contract administration. This position entails exposure to multiple persons and all groups within the firm.

Specific Responsibilities; under the supervision of the CCO include:
• Assist with forensic testing around the administration of the Compliance Program/Annual Review
• Assist with monitoring advisory activities to ensure they are performed in compliance with Company policies
• Monitor the effectiveness of established compliance processes and controls
• Recommend enhancements to the Compliance Program
• Prepare and submit SEC filings–Form SLT, Form SHL, Form SHC
• Facilitate the review and updates of compliance policies and procedures.
• Respond to document requests by auditors/regulators
• Contract management and due diligence monitoring of third party vendors
• Contract administration tasks such as drafting initial contracts and subsequent amendments
• Maintain data in various databases which tracks pertinent contract related information
• Liaison with legal counsel on execution of legal agreements
• Prepare and provide reports to CCO on a regular basis, or as requested
• Assist with administration of books and records.

• Education: Bachelor’s degree
• Relevant Experience: minimum of 5 to7 years of compliance, audit and/or legal experience
• Working knowledge of the Investment Advisers Act
• Technology Skills: experience with Microsoft applications (particularly Excel, Word, PowerPoint & SharePoint)

Personal Skills/Attributes/Qualities
• Outstanding reputation of professional integrity and potential to be personally credible
• Attention to detail and solid project management skills
• Proactive and solutions-oriented; innovative
• Ability to adapt quickly and appropriately with the constant evolution of our compliance program
• Collaborative and energized by the open exchange of ideas
• Strong interpersonal, business writing and organizational skills with ability to priorities duties
• Strong problem solving skills and attention to detail.
• Strong work ethic with a positive attitude
• Self-starter who can work independently
• Strong team player
• Ability to work well under deadline pressure
• Decision making capability
• Communication Skills: Ability to clearly articulate opinions and to influence.

Contact: Please submit your resume and cover letter to:

Managed account Cash Policy for uninvested cash See Full Posting>

I was wondering if anyone would be willing or able to provide some guidance or best practices for authoring a managed account Cash Policy on cash not invested based on the client's recommended allocation. Any suggestions on time frames for holding cash, billing vs. not billing of the cash, and/or monitoring would be welcomed. Thank you.

Advisor as Trustee on Client Accounts See Full Posting>

What issues would be involved with an advisor serving as a trustee for a client's account at the client's request (specifically, a client with whom they do not have a close personal or family connection)?

Obviously, the advisor would be deemed to have custody over those assets and would be subject to the requirements of the Custody Rule. However, I am curious if anyone is aware of any other potential issues involved in this scenario? Assuming that we will be complying with all Custody Rule requirements, would you have any recommendations for or against this arrangement?

Additionally, if there are no other issues with the advisor serving as trustee, should the company (eg ABC Capital Management) or the individual advisor be named as trustee? Would either make a difference with regard to possible liability protection?

Employee background checks See Full Posting>

Is anyone willing to share what they pull when doing background checks for new hires? My HR team is reviewing their processes and trying to determine if they are pulling more than they need or not enough. Thanks.

Job Opening See Full Posting>

Wolfe Search Group
100 Cummings Center, Suite 332A
Beverly, MA 01915
(978) 921-7370

Lead Consultant : Todd Wolfe, Managing Director


Function: Legal & Compliance
Department: Compliance Position Type: Full-Time
Education Required: BA/BS or equivalent experience required Location: Boston, MA

Position Description

The Senior Compliance Manager will be an integral part of the firm’s Legal and Compliance Department (“Department”) and will report to the Deputy Chief Compliance Officer (“Deputy CCO”). The Department has a Charles River Development (“CRD”) Compliance Group with 11 compliance professionals whose primary responsibility is to oversee the firm’s compliance with its clients’ investment guidelines and restrictions through CRD. In addition to the oversight of new and amended client guidelines of existing product lines, there is a need to ensure that the firm takes prompt and appropriate action to address potential or actual violations of client guidelines in order to protect the client’s best interest, and to mitigate the firm’s liability for such. The Senior Compliance Manager will work closely with the existing Senior Compliance Manager to co-manage the CRD Compliance Group, and to implement new compliance initiatives for the firm by managing projects for the group that enhance existing or implement new functionality in CRD.

In addition to co-managing the CRD Compliance Group, the Senior Compliance Manager will assist the Deputy CCO with the due diligence that is performed in order to approve and implement new derivatives instruments, private placements, new country investments and other ad hoc projects. The Firm has adopted Derivatives and Unique Securities Policies and Procedures that set forth the firm’s requirements relating to transacting in new derivatives and unique securities (“New Instrument(s)”) for client accounts. The firm’s Risk Management Committee has created a sub-committee called the New Instrument Committee, which is comprised of senior representatives from Product Management, Trading, Pricing, Technology, Operations, Risk Management, and Compliance, and is co-chaired by the Chief Investment Risk Officer, the Director of Operations Technology and the Deputy CCO. The Senior Compliance Manager will assist the Deputy CCO in ensuring that all issues involved with the introduction of New Instruments have been identified, satisfied and captured in the New Instrument Due Diligence Form for review and approval by the firm’s Risk Management Committee.


CRD Compliance Team Management Responsibilities

• Directly supervising Compliance Managers
• Manage projects for CRD related projects under his/her direct reports by ensuring that the projects satisfy required deadlines and its intended objectives to minimizes firm risk
• Work with members of the CRD Compliance Group to ensure timely and appropriate responses to the CRD Alerts reviewed by the Compliance Specialist
• Review, analyze and interpret restrictions found in client contracts and investment guidelines
• Review and validate CRD rule coding
• Work with members of the investment teams (Portfolio Managers, Portfolio Specialists, Traders and/or Client Service Representatives) to cure guideline issues in a manner consistent with The Firms’ fiduciary duty to its clients and draft error notification letters
• Work closely with Portfolio Managers and Client Service Representatives to seek guideline clarifications, amendments, and waivers from clients, as necessary
• Create reports for Senior Management to escalate outstanding guideline issues and CRD system related issues, as necessary and appropriate
• Back up the existing Senior Compliance Manager as necessary

New Derivatives, Complex Instruments and Private Placements

New Derivatives and Complex Instruments

• Set up, schedule, and take minutes for New Instrument Committee meetings. Track requests and status of new instrument implementations and compile materials for the meetings
• Establish and track deadlines for task completion for New Instrument implementations and identify any gaps in the process
• Follow up with senior representatives from all departments regarding outstanding issues that impact the implementation and completion of the New Instrument Due Diligence Form
• Identify accounts that need guideline revisions to invest in the New Instrument and coordinate internally with Client Services to obtain necessary client approvals
• Ensure that the manner in which the New Instrument will be treated for guideline purposes has been determined and that the coding of applicable rules has been completed and tested
• Follow up with Legal and Client Intake on the status of legal documents (e.g. ISDAs, borrowing agreements, etc.) required to implement certain New Instruments
• Work with senior members of the fund complex (40 Act and UCITS) to obtain Fund Board and/or regulatory approval to invest in New Instruments for proprietary funds. Complete any due diligence documentation required
• Update the Compliance Manual Policies and Procedures such as, Forward Obligation Cover Procedures and Liquidity Procedures, as necessary

Private Placement Deals

• Review offering documents, term sheets and other issuer documents for compliance with client guidelines, regulatory requirements, issuer imposed requirements, conflict of interest issues and tax requirements
• Work closely with Portfolio Managers, Operations and Trading to ensure that security set up, physical settlement, compliance treatment and pricing aspects of a privately placed negotiated deal are accurate and coordinated for deal closing
• Work with issuers to provide underlying clients with necessary tax documents for instruments with unique tax treatment
• Complete private placement due diligence forms, as necessary
• Review security fair valuation pricing forms and participate on monthly issuer calls, as necessary.


• Complete due diligence work necessary to invest locally in new countries that The Firm has not previously invested in
• Implement policy and procedures regarding derivative compliance matters, including derivative tax issues
• Work on ad hoc compliance projects as necessary for the Deputy CCO

• Bachelor’s degree in a business related field. MBA or JD preferred
• and more