Deputy Chief Compliance Officer, Broker-Dealer
Virtus Investment Partners
Our employees are our most valuable asset.
About the Team
Legal and Compliance provides decision support to facilitate the operations of the business and minimize company risk and exposure.
Legal includes a team focused on managing the overall legal affairs of the company, including corporate governance, SEC filings, regulatory matters, ligation, M&A and support for special projects, as well as an investment advisory team that provides legal support for investment products, manages governance affairs for the fund complex and fund boards, and supports fund and strategic initiatives.
Compliance supports and encourages an environment of high ethical standards and integrity throughout the company, with distinct teams focused on Broker-Dealer and Transfer Agent, Investment Adviser, and Fund compliance.
Job Purpose
The Deputy Chief Compliance Officer, Broker-Dealer is primarily responsible for: managing the workflow of the limited-purpose broker-dealer compliance staff, ensuring that sales material is reviewed and approved appropriately and timely; staff training; answering staff and submitter questions on sales material; ensuring that email review is completed; providing guidance and assistance with FINRA and MSRB registrations and filings; serving as a back-up to the Chief Compliance Officer for Anti-Money Laundering functions; assisting with regulatory exams, audits, production of responses to regulatory inquiries; and support of the transfer agent operations.
Duties and Responsibilities
Manage Compliance Ad Review function.
Oversee ad review staff and workflow to ensure all work, internal and outsourced, is processed accurately and timely by staff and manage.
Manage FINRA filings and commentary.
Oversee ad review software system, including implementation of new rules, training and weekly and monthly reporting.
Oversee the investment overviews, key features, and risks in the Product Attributes and Disclosure Database (PADD) so that each are up to date, correct, and in agreement with evolving prospectus language.
Maintain a close relationship with Marketing on planning, upcoming needs, and solving problems.
Serve as lead contact for production of review material for regulatory exams/litigation.
Manage email and social media review function.
Oversee review function to ensure timely review of email, Teams chats, and social media.
Monitor reports ensuring that email and social media is being properly archived.
Work with IT or Digital Marketing as needed when archiving issues arise.
Assist with ongoing broker-dealer requirements.
Management of broker-dealer compliance staff.
Help ensure policies and procedures are up to date.
Help ensure preparedness for compliance with new regulations.
Assist the broker-dealer CCO in the Anti-Money Laundering (AML) function, including policy review and updates, review of potential fraud items and operational issues, monitoring of the FinCEN 314(a) process, review of custodian/transfer agent AML reports, and production of information for the annual AML audit.
Conduct the annual needs analysis for the broker-dealer Firm Element Continuing Education program and oversee through completion.
Assist the CCO in the development and completion of the annual broker-dealer Compliance meeting.
Oversee completion of Securities Questionnaires and Form U4 review by all registered representatives.
Assist CCO in the annual compliance review and creation of the annual CEO Compliance report.
Update the Red Flag/Identify Theft prevention program annually.
Assist the CCO with 529 Plan/MSRB requirements, including quarterly review and reporting of political contributions, filing of Plan Disclosure Statement supplements, and associated filings.
Assist the CCO with other corporate compliance projects and initiatives as directed.
Qualifications
Bachelor’s degree or the equivalent combination of education and experience is required.
10-15 years of compliance experience in the broker-dealer and mutual fund business.
Team Leader or Management experience preferred. The position will have three direct reports.
FINRA Series 7 (General Securities Representative) and Series 24 (General Securities Principal) is required. Series 14 (Compliance Officer Exam) is recommended.
Knowledge and experience with various types of investment products and investment platforms. Possess an understanding of equity, fixed income, and other asset classes.
Thorough knowledge of FINRA rules, FINRA’s Communications with the Public and Non-Cash Compensation rules. Knowledge of SEC rules, regulations, and interpretations regarding investment company and investment adviser sales material.
Working knowledge of GIPS compliance requirements is preferred.
Self-starter with the ability to manage challenging workflow in fast paced, dynamic organization; ability to prioritize and perform multiple tasks and deal with interruptions while working within strict deadlines.
Excellent oral and written communications skills; must be able to write effectively, and present analysis and conclusions in a persuasive manner.
Proficient in MS Office (Outlook, Word, Excel, PowerPoint) and able to develop proficiency in Virtus systems and vendor applications as required to perform the duties of this position.
Occasional travel to corporate and affiliate offices necessary. Less than 25%.