Client is one of the largest full-service investment banks in the nation. They provide innovative financial solutions through our Wealth Management, Capital Markets, Futures and Advanced Clearing & Prime Services divisions. We are currently seeking a VP, Private Wealth Management Compliance.
The VP, Private Wealth Management Compliance will be located in Los Angeles and will be responsible for providing compliance advice and perform testing across the Private Wealth Management business.
Responsibilities include but are not limited to:
- Establish, design, and execute regulatory compliance testing of the Wealth Management business; test compliance with policies and standards and identify key risk control gaps and deficiencies
- Work with the line of business supervision team to ensure all applicable rules and the products supported, are identified so that testing priorities can be evaluated and established while maintaining accuracy
- Develop and document detailed testing scripts covering testing of controls, evaluations and testing of transactions to assess adherence to compliance rules
- Work closely with other compliance officers to ensure consistency among execution of testing and interpretation of rules
- Monitor the firm’s compliance with SEC, FINRA and other applicable regulations , keep up-to-date on changes in federal and state compliance laws and regulations impacting the group of assigned compliance focus area(s)
- Prepare and potentially present reports to management regarding status of compliance testing in areas of compliance focus
- Advise line of business supervision staff the on emerging compliance issues and assist in developing policies and procedures and risk management analyses
- Participate and, where appropriate, coordinate and lead resolution of regulatory inquiries and customer complaints; develop solutions and lead any required remediation of compliance gaps to completion
- Review communications intended for the Private Wealth client base
- Conduct branch office examinations
- Assist with programs for educating and training personnel on compliance and regulatory topics
- Perform other duties as required and assigned
Experience and Skills
- Bachelor’s Degree from an accredited university
- JD or Masters’ Degree a plus
- 10+ years’ experience at a Registered Investment Adviser, Private Wealth Management/International Wealth Management division of a US bank
- Extensive knowledge of Annuities, Structured Investments, Alternative Investments, Exchange-Trades Products, Fixed Income, Equities, Options, Unit Investment Trusts and Mutual Funds
- Understanding of FINRA, SEC and other regulatory requirements around trading and market making activities with a particular focus on sales practice and suitability concerns involving retail products in brokerage and advisory accounts
- Highly organized with the ability to multi-task and manage multiple projects and competing priorities without sacrificing accuracy or efficiency.
- Strong analytical, problem-solving and critical-thinking skills, extremely detail-oriented
- Proficient in Microsoft Office (Outlook, Word, Excel, PowerPoint)
- Ability to travel at least 30%
- Detail-oriented with ability to multitask, organize and prioritize
- The ideal candidate will have technology and database experience.
- Ability to work in a constant state of alertness and safe manner
- Demonstrated compliance, supervision or legal experience with a broker-dealer or registered investment advisor required, variable and fixed annuity compliance experience a plus
- Knowledge of the securities industry, from a product, corporate governance, compliance and operational perspective
- Knowledge of FINRA and state registration and licensing requirements.
- FINRA series 7, 24 or 9/10 licenses preferred.
- Strong problem-solving skills and the ability to confront conflict and difficult issues in a professional, assertive and proactive manner.
- Strong communication skills and presence with the ability to speak with impact, influence outcomes; simplify complex topics into actionable recommendations for decision-making.
- Demonstrated ability to work effectively and cross-functionally with employees at all levels.
- Self-starter with the ability to meet or exceed deadlines, prioritize, multi-task, and maintain flexibility in fast-paced, changing environment.
- Ability to analyze matters combined with the willingness and ability to perform routine tasks