Chief Compliance Officer
World Equity Group, Inc.
Location: Arlington Heights, IL
About the job
The Chief Compliance Officer (“CCO”) or Senior Compliance Officer (“SCO”) will ensure that the firm and its RRs/IARs comply with SEC, FINRA, and state rules and regulations and firm-wide compliance policies and procedures for the B/D and RIA. The CCO and/or SCO must fully understand all aspects of securities and investment advisory rules and regulations and the firm’s policies and procedures and operations. and/or SCO must be able to effectively communicate the firm’s policies and procedures to registered representatives, home office personnel, and appropriate regulators. The CCO and/or SCO must also be able to effectively train, lead and mentor other personnel in the Compliance Department.
RESPONSIBILITIES
1. The CCO will manage the Compliance Department’s day-to-day efforts including training and mentoring less experienced COs and support personnel.
2. The CCO will manage the day-to-day BD and RIA compliance activities including the annual update and any amendments needed for Form ADV, schedules, brochures, and the WSP’s.
3. Manage the regulatory inquires and examinations and conducts compliance initiatives as directed by the Firm in correlation to BD and RIA activities of the firm.
4. Fully understands, is knowledgeable and is able to effectively communicate the firm’s policies and procedures and regulatory rules and regulations.
5. Fully understands, is knowledgeable and is able to effectively communicate the firm’s functions and procedures to other departments in Home Office.
6. Responsible for responding to customer complaints and regulatory inquires.
7. Responsible for maintaining internal compliance databases.
8. Responsible for managing branch office and RR/IAR inspections. The SCO trains inspectors on how to conduct branch office and RR/IAR inspections.
9. Responsible for reviewing clearing firm and custodian anti-money laundering and reports exceptions as needed. Services as delegated back-up to the MLRO for anti-money laundering activities.
10. Reviews clearing firm exception reports, OFAC list reviews, FinCEN 314 (a) reviews and prepares and files SARs as needed. Drafts, updates and revises the firm’s AML policies and procedures as necessary.
11. Reviews and approves outside business activities and private securities transactions requests of registered representatives and maintains records.
12. Reviews exception and surveillance reports for red flags and issues, discusses with CEO and takes appropriate action to resolve issues.
13. Fields and responds to questions from registered representatives regarding general compliance issues and the firm’s policies and procedures. Conducts and researches the facts to properly and effectively provide the information, answers and clarification to registered representatives.
14. Responsible for drafting and revises the firm’s written supervisory procedures and the Code of Ethics and working with the operations department helps implements necessary policy and procedure changes.
15. Drafts Compliance Alerts and notices to registered representatives to communicate changes to the firm’s policy and procedures.
16. Reviews and approves advertising, sales literature and registered representative correspondence for compliance with industry standards and the firm’s policies. Works with registered representatives and their associated persons offering guidance on advertising and sales materials.
17. Reviews and monitors customer’s and RR accounts for trading activities and patterns.
18. Responsible for managing Heightened Supervision policies and procedures .
19. Assists the CEO and outside attorneys with litigation and arbitration requests. Discusses with inside and outside counsel as needed for information or documentation for arbitrations and litigation.
20. Prepares, reviews and files quarterly 13F Filing on a timely basis with the Securities and Exchange Commission.
21. Manages regulatory exams.
22. Manages the RR/IAR completion of annual compliance requirements.
REQUIRED SKILLS, EXPERIENCE AND QUALIFICATIONS
· Bachelor’s Degree
· FINRA Series 7 and Series 24 (additional FINRA registrations, including Series 65, 63, 4 and 53 are preferred and may also be required)
· A minimum of 7 years of experience in compliance and/or operations with a B/D and/or RIA preferred
· A thorough knowledge of FINRA, SEC, state securities and investment adviser rules and regulations
· Ability to multi-task and function in a fast-paced environment, work in a fast-paced environment and meet strict deadlines
· Ability to travel up to 10% as needed
· Strong communication, written and interpersonal skills
· Prior Management and Senior Compliance experience preferred
· Proficiency in Microsoft Word, Excel and Outlook