Chief Compliance Officer

Edelman Financial Services
Fairfax, VA
Apr 20, 2017
Apr 26, 2017
Executive, Chief
Full Time
Edelman Financial Services is seeking an experiencedChief Compliance Officer (CCO) for our HQ in Fairfax, VA. The Chief Compliance Officer is responsible for the leadership and management of all compliance functions for Edelman Financial Services, LLC, a registered investment advisor ("RIA") and EF Legacy Securities, LLC, a registered broker dealer ("B/D") and licensed insurance agency (together, the"Company"). This is a highly engaged position working with a variety of stakeholders in the business. Leveraging superior subject matter expertise and highly developed communication skills, this role enables the Company and its people to deliver best-in-class services to its clients. The Chief Compliance Officer will be responsible for compliance analysis, programs, initiatives, guidelines and procedures for the entire firm, designed and implemented in a manner that supports the Company's business objectives and goals. ESSENTIAL DUTIES& RESPONSIBILITIES:Key responsibilities include: leading and managing the Company's Compliance Department; continually improving-upon and monitoring the Company's compliance program to ensure appropriate compliance practices and procedures are in place across our RIA, B/D and insurance businesses; preparing for and responding to regulatory inquires and audits; proactively keeping abreast of regulatory developments and updating polices and procedures; ensuring that all business activities and registered personnel meet requirements of state and federal legal and regulatory agencies; and serving as a key leader in the Company. Executive Role In concert with other leaders, shape and reinforce a culture of compliance in support of the mission and values of the Company.Coordinate with the Legal Department regarding the identification and analysis of relevant newly enacted laws and regulations, SEC and other industry positions and court decisions.Assist with the preparation of annual departmental budgets and monthly business reviews, periodically analyze expense summaries and variances and compare to budgeted forecasts. Participate in the strategic and management planning activities of the organization. Participate within the senior management team in discussion of critical business management issues. Compliance Department Leadership Provide leadership and guidance to all staff within the Company's Compliance Department in a way that will promote efficiency, creative thinking and teamwork, while balancing business concerns and regulatory requirements. Report regularly to key management and the Board of Directors on all compliance-related matters. Prepare and present annual compliance testing and remediation report to senior management as may be required by the Investment Advisers Act of 1940 ("the Advisers Act"). Report test results to senior management and the Board of Directors as appropriate. Provide general leadership and enterprise support for all areas within the Company by participating in committees (eg, Risk Committee; Conflicts Committee), task forces, product reviews and other compliance activities. Serve as a knowledge resource for all business lines. Ensure there is the appropriate level of compliance-related regulatory oversight of the day-to-day operational, sales, and marketing activities of the RIA and B/D businesses. Compliance Operations and Communication Oversee the management of all compliance issues, including: regulatory compliance; quality control; continuing education/tracking; and privacy. Oversee the regulatory supervision of the Company. Modify (as necessary) and maintain the Company's compliance program to prevent, detect, and correct violations of securities laws and regulatory guidance, including but not limited to SEC, FINRA, federal and state regulations, the Advisers Act and other statutes, pronouncements and guidance, as applicable. Manage the review and approval program for Company advertising (eg, sales literature, marketing materials, radio program content, seminar presentations, newsletters, awards applications and questionnaires, database content and other communications). File appropriate advertising materials with FINRA as necessary. Work with management and operational departments to develop, update, maintain and monitor policies and procedures to ensure that the Company is in compliance with applicable laws and regulatory guidance. Ensure the appropriate safeguards are in place to prevent, detect, and make corrections to any compliance failures. Create protocols for, and carry out reviews (not less than annually) of, policies and procedures to determine effectiveness of compliance procedures. Develop and lead employee training sessions on internal compliance policies and regulatory compliance issues. Foster a culture of compliance. Conduct an enterprise-wide monitoring and testing program covering identified compliance risks. Monitor activities for errors, violations or risks, and take corrective action if necessary. Serve as the head of the Company's Anti-Money Laundering ("AML") program with full responsibility for ensuring compliance with AML Rules and Regulations. Conduct Code of Ethics monitoring and oversight, as may be required by the Advisers Act. Manage the preparation and review process for the preparation of Form ADV (annually and for each required update). Regularly update performance disclosures and assist with annual performance audit. Develop and oversee regulatorily-required Continuing Education programs. Maintain records of policy changes, violations and other compliance required records. Work with the Operations team to address trading issues (eg, errors, pricing, allocation, best execution, etc.) as needed. Risk Serve as a key leader in the Compnany's risk management effort through committee / workgroup participation and through thoughtful, analytical, and consistent evaluation of the business risks facing the firm. Conduct risk assessments and manage the compliance monitoring and testing program for EMAP and advisors in accordance with regulatory expectations and best practices. Promote a risk-conscious environment while working with line management to achieve business goals, and prevent, detect and respond to violations of rules, regulations, or procedures. Regulatory Leadership Participate in, and respond to, various SEC, FINRA and state insurance department inquiries, including SEC and FINRA examinations and FINRA Advertising Regulation spot-checks. Serve as firm liaison with SEC, FINRA and other regulators for examinations and regulatory inquiries. Work in partnership with regulators in examinations. Lead the engagement of, and liaise with, third party firm(s) performing any policies and procedures reviews, audits, mock exams or the like. Essential Skill& Experience Requirements: The ideal person for this role should have senior managerial experience and knowledge in managing a compliance department, including: maintaining policies and procedures; overseeing compliance risk assessment processes; implementing compliance training programs; and monitoring and remediating potential violations of policy or law.IndustryA strong educational background including an undergraduate degree and a minimum of 15 years of relevant experience. Investment advisory compliance experience required. Experience in multiple areas of regulatory compliance and risks related to the rules and regulations of the SEC, FINRA, and other federal, state and local regulations and laws for broker dealer, investment advisory, insurance and wealth management. In-depth knowledge of Federal Securities regulations, eg, the Advisers Act, Securities Exchange Act of 1934, FINRA and Municipal Securities Rulemaking Board, AML and Privacy rules. ERISA and DOL (Department of Labor) knowledge in the area of retirement plans is preferred. Thorough knowledge of the registered investment advisor industry, from a product, corporate governance, compliance and administrative perspective. Comprehensive knowledge of regulatory examination procedures used to evaluate applicable compliance-related federal / state laws and regulations. Significant experience with coordinating regulatory exams, handing all types of inquiries and audits, and preparing responses. In-depth experience and ability to manage the annual Form ADV process. Experience developing and implementing comprehensive compliance training programs within a multi-branch firm. Ability to read and interpret regulatory statutes and client guidelines. Additional RequirementsBachelor's degree in Legal, Finance, Accounting or business required. Series 7, 24, 63, and 65 registrations required.Effective leadership and partnership skills and the ability to positively influence outcomes, particularly in difficult matters.Exceptional interpersonal skills, as necessary to work effectively with executive colleagues and staff at all levels.Strong problem-solving skills and the ability to confront conflict and difficult issues in a professional, assertive and proactive manner.Excellent organizational, written, verbal and presentation skills including the ability to interpret and communicate compliance guidance internally and to effectively communicate with regulators.Excellent organizational and project management skills demonstrating the ability to meet or exceed deadlines, prioritize, multi-task, and maintain flexibility in fast-paced, changing environment.Strong data management acumen to collect and evaluate financial, transactional or other data to determine trends, recommend& implement change performance awareness.Ability to operate efficiently in a small dynamic work environment.Thorough understanding of the Securities Act of 1933, the Securities Act of 1934, and the Advisers Act.Ability to translate theory/rule into realistic and useful business practice is essentialStrong analytical skills and high attention to detail.Ability to manage a broad range of compliance functions.Proficiency in essential computer applications (MS Outlook, MS Word, MS Excel, MS PowerPoint) used to communicate ideas, concepts and detail in a professional business environment, and other legal and compliance technology tools.For more information: EOE. A comprehensive background check may be conducted on applicants for this position. Edelman Financial Services has an employment at-will policy.