Job Synthesis and Description
Our client is an investment management firm headquartered in Chicago, Illinois with over $44 billion in assets under management as of December 31, 2018. They utilize a manager-of-managers approach in managing all of their clients’ assets. The client also maintains its own internal transfer agent and principal underwriter for distributing shares their funds.
The Legal and Compliance Team is responsible for developing and maintaining the compliance programs of the client and their subsidiaries. The Compliance Officer position is primarily responsible for those areas indicated below and will work on special projects as assigned and assist on other matters relating to the firm’s businesses as requested. This position is based in Chicago.
Mutual Fund Administration
Participate in the preparation and production of the materials for the shareholder reports and other periodic regulatory filings (Annual, Semi-Annual, N-Q, N-CSR, N-CEN), including any future filing requirements. This will involve significant hands-on work in preparing and updating drafts of the filings, including evaluating, responding to and incorporating, as appropriate, comments from internal and external parties (i.e., auditors, outside counsel, etc.) and preparing the filings for submission.
Advertising and Forms Review
o Review, monitoring and auditing of content posted to website
o Review of templated shareholder correspondence and forms
o Review of retail materials to ensure compliance with FINRA requirements and filing of materials with FINRA via the CRD system Proxy Voting Administration
o Participation in Proxy Voting Committee meetings and preparation of the minutes of the meetings
o Oversight of quarterly audit process
o Assist with the preparation and filing of Form N-PX Regulatory Filings
o Assist with the drafting and the review process of Form ADV to maintain the adviser registration
o Assist with the drafting and the review process of Form TA-1 to maintain the transfer agent registration
o Assist with the review process and filing of Form PF Maintain Affiliates List
o Monthly reviews of parent company organizational changes
o Coordination with U.S. affiliates on consistent disclosure between the respective parties’ Forms ADV
o Communications with subadvisers regarding affiliations and restrictions
Subadviser Monitoring, Review and Oversight
o Substantively review the subadvisers’ policy/procedure submissions, Form ADV updates and third party internal control reports. Follow-through with tracking log updating and flagging issues for broader group attention when appropriate.
o Participate in subadviser due diligence visits as requested and prepare compliance reports of those visits
Policies and Procedures
o Assist in annual review and updating of policies and procedures
o Draft new policies and procedures as requested Forensic Testing
o Develop and perform forensic testing of various compliance related functions
o Understand securities laws related to records retention and follow departmental procedures related to the maintenance of hardcopy and electronic records for all assigned duties
Team and Cross-Team Projects
o Participate in and/or lead intra-departmental and cross-company projects
Strong academic credentials. Bachelor’s Degree or higher required
Five or more years of experience as a compliance professional or 1940 Act mutual fund paralegal (or similar position) in a financial services firm or law firm. Experience in a manager-of-managers structure is a plus.
Committed to maintaining the highest ethical standard
KNOWLEDGE, SKILLS &; ABILITIES REQUIRED
The ideal candidate will be an intelligent, energetic and goal-oriented, conceptual thinker with the ability to quickly assess a situation and exercise sound business judgment and will possess the following attributes:
-Prior experience in the mutual fund industry and strong knowledge of the regulations that govern its activities, including the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Securities Act of 1933 and the Securities Exchange Act of 1934
-Excellent interpersonal and communications skills, both written and verbal; must be able to interact with senior business professionals and address issues in a thoughtful and timely manner
- Independent, self-starter with a positive, can-do attitude and the ability to follow through and complete tasks in a team environment
- Ability to work individually and with other team members under pressure and prioritize competing tasks that require the highest level of attention to detail and accuracy
- Responsible for coordinating, and in certain cases managing, complex projects with multiple internal and external parties; therefore, candidate must demonstrate a cooperative attitude and exceptional interpersonal and consensus building skills
- Demonstrates drive for continuous improvement and pursuit of challenging goals
- Advanced proficiency with Microsoft Word, Excel and Outlook and skilled generally with learning and administering technological applications
- Ability to shift focus dependent upon the need of the department to support teamwork
- Experience with SEC regulatory filings
Spencer is the Founder and Managing Partner of MBK Search, LLC - an executive search firm that specializes in the governance, risk, compliance, and cybersecurity market space. Prior to founding MBK, Spencer was Head of Operational Risk at Bridgewater Associates. Before moving to Bridgewater, Spencer was the Head of Risk for ICAP, Plc covering the Americas Region. He started his career in venture capital as an investment associate.
Spencer graduated from Harvard University in 2001 and resides in Ridgefield, CT with his wife and two sons.