Senior Manager, Investment Compliance Policy

T. Rowe Price
Baltimore, MD
Jan 14, 2019
Jan 17, 2019
Full Time
Our mission as a leading investment management firm is to help our clients achieve their long-term financial goals. We believe our associates are the key to this mission and we are always looking for talented individuals who share our commitment to our client's success. If you're looking for challenging work experiences and the ability to learn in a collaborative culture, we invite you to explore the opportunities available at T. Rowe Price. PRIMARY PURPOSE OF THE POSITION Investment Compliance is a global function, based primarily in the US, responsible for ensuring compliance with regulatory, prospectus, client-directed, and internal investment and operational restrictions for every portfolio managed by T. Rowe Price. This position is a leadership role within Investment Compliance and is specifically responsible for establishing, enhancing, and maintaining compliance policies with respect to the implementation and ongoing monitoring of the firm's investment compliance program. The Senior Policy Manager is a subject matter expert and resource for Investment Compliance as well as the broader Legal & Compliance business unit. The position uses industry and regulatory expertise to establish policies that guide compliance testing with respect to the application of global regulations to increasingly complex products, derivative instruments, and investment strategies while mitigating risk. The position will provide feedback to not only the Investment Compliance management team, but also senior level managers in Legal, Risk and Investments. The Senior Policy Manager position may work as an individual contributor or may have 1-2 direct reports. PRINCIPAL RESPONSIBILITIES Serves as a subject matter expert with investment compliance experience but also investment acumen to understand complex instruments and investment strategies. Demonstrates extensive experience and proficiency in interpreting global regulations and client guidelines, particularly with respect to their application to complex investment strategies, fixed income securities and derivatives, including currency forwards, options, futures, and swaps. Develops a policy program to effectively establish, document, and maintain all policies that support the Investment Compliance function. Leads/chairs the Investment Compliance Policy Committee (ICPC), a cross-divisional working group charged with establishing, maintaining and communicating policy and valuation decisions with respect to the investment compliance monitoring program: Policy Setting: Drives investment compliance policy through consensus with key stakeholders. Reviews and establishes consistent and effective policies with respect to compliance treatment across all products and investment types, particularly derivatives, taking into consideration existing guidance from regulators as well as investment management peer and market practices. Establishes Exposure: Sets policy around measuring exposures for purposes of investment compliance. Reviews and establishes exposure/valuation practices (ie, mark-to-market, notional, netting practices, etc.) for incorporating derivatives within guideline/prospectus/regulatory requirements taking into consideration existing guidance from regulators as well as investment management peer and market practices. Partners with key stakeholders, including legal counsel, risk management, and investment personnel, to understand differing perspectives on various policy issues. Prepares and documents recommendations to the ICPC using thorough research and portfolio implication analysis to drive key decisions. Responsible for implementation within Investment Compliance of the actions taken by the ICPC. Uses sound business judgment, technical knowledge, and project management experience in order to navigate and, where appropriate, influence and persuade key stakeholders to reach consensus on key policy decisions. Provides thought leadership on all aspects of investment compliance relating to derivatives and complex instruments. Challenges existing policies and thought processes using legal, industry, and technical knowledge to improve and, where possible, standardize compliance testing across the organization. Stays abreast of new regulations and regulatory recommendations and proposes solutions that address change while considering implementation and operational challenges. Represents the firm in meetings with regulators, clients, trade associations and other third parties on topics covering areas of expertise. Demonstrates/develops a proficient understanding of Charles River, the firm's trading/investment compliance system, in order to support the implementation of new policies, including lending expertise to develop creative solutions where full automation is not possible. QUALIFICATIONS Required Advanced degree and 6 years related work experience, or Bachelor's degree and 10 years related work experience In-depth knowledge of laws, regulations, and standards covered under the 1940 Act, UCITS, CFTC, IRC, and other regulatory frameworks In-depth knowledge of complex fund products such as alternative investments as well as complex instruments including derivatives Excellent organizational skills, ability to manage competing priorities and deadlines Excellent interpersonal skills, ability to balance influence skills with a consultative approach when interacting with a diverse group of contacts Strong technical writing skills and knowledge of MS Word, Excel, and PowerPoint Self-motivated and self-reliant; must work well to develop solutions, make decisions, and produce results with limited supervision Preferred MBA, CFA and/or Law Degree 10 years of work experience in investment compliance or related field Experience with compliance and/or trading systems Experience leading projects related to compliance and/or investments T. Rowe Price is an Equal Opportunity Employer