Chief Compliance Officer
Paradigm Equites, Inc.
Location: East Lansing, MI - Office and Remote Hybrid
Salary: $106,000 to $154,000
Job Type: Full Time
Paradigm Overview: Paradigm Equities is an introducing broker-dealer licensed to offer mutual funds and variable contracts. Paradigm Equities is owned by MEA Financial Services, a licensed property and casualty insurance agency. MEA Financial Services has been in operation since 1973. Paradigm has been operating as a broker-dealer since 1991. MEA Financial Services also owns and operates Fairway Investment Group, a Registered Investment Advisor under regulatory oversight by the State of Michigan. Paradigm’s primary market is Michigan’s K-12 403(b) market and employs approximately 40 registered personnel including a full-time Compliance Assistant. The President of Paradigm is the former Chief Compliance Officer and is seeking an individual with an ingrained commitment to compliance and who seeks to maintain an established and strong culture of compliance.
The CCO will be part of a small, tight knit management team that has the ability to influence and drive strategic decision making that will affect outcomes for clients as well as the for long-term success of the Firm.
PRINCIPLE DUTIES AND RESPONSIBILITIES:
Serve as CCO of the broker-dealer.
Ensure that the broker-dealer follows all securities/insurance rules and regulations.
Responsible for writing, testing, training on and enforcing policies, forms and procedures.
Maintain current knowledge of the industry in an effort to anticipate and respond to regulatory changes.
Prioritize and assign work, monitor performance and conduct evaluations, ensure staff are trained and follow procedures, make hiring, termination and disciplinary recommendations.
Establish, implement, maintain, enforce, train, and test Written Supervisory Procedures, Anti-Money Laundering policy, Cybersecurity policy and Business Continuity policies of the firm.
Register, Qualify and License Registered Representatives, Principals and Companies with the appropriate jurisdictions. Supervise the on-boarding process for new representatives.
Review and approve advertising, correspondence and retail communications in accordance with SEC Rules and FINRA Regulations. Correct, provide training to and escalate challenges in instances of non-compliance where corrective action and training has not been effective. Assist in development of creative concept and design of advertising.
Keep abreast of regulatory changes; research new rules and regulations of regulatory agencies; advise the management team and Registered Representatives on matters of compliance.
Respond and maintain records of responses for all regulatory audits and requests from FINRA, the SEC and the State of MI. Respond to external Financial BD audit requests. Complete annual internal audit of the firm. Serve as AML Compliance Officer and ensure that an annual AML audit of the firm is completed.
Makes recommendations regarding hiring, performance evaluations, disciplinary actions and termination of agents. Ensure staff is properly trained and procedures are followed in accordance with Michigan Department of Insurance and Financial Services.
File Forms and respond to requests from regulatory Agencies including but not limited to: FINRA – Form BD, Form BR, Registered Representative U5 filings. Information requests, supervision of Form U4 filings. State agencies – qualification, annual reports and privilege taxes; SIPC – SIPC-6, SIPC-7 and AUP report filings.
Intermittently serves as back-up for the Chief Operations Officer and review and approve new account openings.
Review, oversee investigation, report and provide closure on customer complaints.
Review, approve/disapprove and monitor outside business and outside securities accounts for all registered persons.
Oversee and supervise IT Manager. Ensure that IT Manager’s work product is meeting and or exceeding regulatory requirements up to and including maintaining the Books and Records of the Firm including but not limited to Commission Management System, Customer Information System Common Remitter System. This does not require technical knowledge of Information Technology.
Work cooperatively with IT Manager and Executive Director to identify, create, develop and implement new IT applications as necessary.
Review and audit the completion of bi-annual office inspections.
Oversee processing of Registered Representative commissions by checking reports for accuracy and reviewing reports for product concentrations.
Develop and implement Firm Element training program as well as Annual Compliance Meeting; monitor and ensure compliance with Regulatory Element.
Promote and support organizational efforts to maintain a diverse, equitable, and inclusive environment where employees of all backgrounds can grow and thrive.
MINIMUM QUALIFICATIONS:
Bachelor’s Degree from an accredited college or university in a related field with two to four years of related experience and/or training; or equivalent combination of education and experience.
Minimum of three to five years of Compliance Management and/or Compliance Director experience.
Series 7, 66, 24, and 51 licenses.
State of Michigan Life and Variable Annuities license.
Ability to read, analyze, and interpret the most complex documents. Ability to respond effectively to the most sensitive inquiries or complaints. Ability to write speeches and articles using original or innovative techniques or style. Ability to make effective and persuasive speeches and presentations on controversial or complex topics to top management, public groups, and/or boards of directors.
Ability to apply principles of logical thinking to a wide range of intellectual and practical problems. Ability to deal with nonverbal symbolism (formulas, equations, graphs, charts, etc.,) in its most difficult phases. Ability to deal with a variety of abstract and concrete variables.
Benefits:
Defined Benefit retirement plan
401k Plan
Employer paid single or full family Health, Dental and Vision Insurance
Cash-in-lieu of Health Insurance
Health Savings Account
Employer paid Life Insurance
Travel Allowance in addition to salary
Auto and Fuel Allowance stipend
Employee Assistance Program
Generous Paid Time Off package
If interested, please respond with resume to Bruce M. Reaume, Paradigm President and MEA Financial Services Executive Director, at breaume@mea.org.