Senior Compliance Officer

Written By Ingrid Nordskog

Water Island Capital, LLC

Location: Hybrid

Water Island Capital, LLC (“Water Island”) is an employee-owned, SEC registered investment advisory firm founded in 2000 with its principal office in New York. The firm manages approximately $2.5 billion across multiple event-driven strategies and vehicles focused on merger arbitrage, equity special situations, and credit opportunities. The firm is an investment adviser or sub-adviser to various clients, including The Arbitrage Funds, a series of mutual funds, and AltShares Trust, a series of exchange-traded funds, both of which are affiliated investment companies registered under the Investment Company Act of 1940 (collectively, the “Trusts”), other mutual funds and private funds.

Overview of Role:

Water Island is seeking a senior level compliance professional to support its compliance programs.

Responsibilities:

  • Develop, maintain and execute effective and comprehensive compliance programs designed to meet regulatory requirements and industry best practices

  • Draft, maintain and amend written compliance policies and procedures

  • Conduct risk assessments and identify, analyze and mitigate conflicts of interest

  • Design and conduct compliance monitoring and testing

  • Prepare regulatory filings, including Section 13 filings

  • Conduct employee email reviews

  • Serve as primary compliance officer of Water Island’s UK FCA registered affiliate

  • Serve as supervisor of the firm’s registered representatives

  • Review advertising, sales literature, and other marketing materials for compliance with SEC and FINRA rules

  • Administer the firm’s Code of Ethics program

  • Conduct investment guideline and trade compliance monitoring

  • Assist with compliance reporting to clients, including reviews of due diligence questionnaires and participation in client meetings

  • Engage with employees on compliance matters and administer employee compliance training

  • Participate in oversight of service providers

  • Engage with external legal counsel and other professionals, when warranted

  • Function as liaison with Board members of the Trusts

  • Keep abreast of regulatory developments affecting compliance programs

Education and Qualifications:

  • Bachelor’s degree required

  • Minimum five years of relevant compliance and/or legal experience

  • Knowledge of Investment Advisers Act of 1940 rules and regulations

  • Knowledge of Investment Company Act of 1940 rules and regulations

  • Willingness to obtain FINRA Series 7, 63, and 24 licenses

  • Experience with reviewing advertising and marketing materials for registered investment advisers and funds

  • Experience with administration of personal trading policies and procedures, trade surveillance, and electronic communications reviews

  • Flexibility and enthusiasm to assist the CCO in a wide range of tasks and responsibilities

  • Committed to maintaining high ethical standards and a strong compliance culture

  • Strong verbal and written communication skills

  • Strong problem solving and analytical skills with excellent attention to detail

  • Self-starter with ability to work well independently and in a team environment, work well under pressure and deadlines, while managing multiple projects

  • Strong service orientation and ability to communicate with and establish and maintain effective working relationships with peers, senior management, a wide array of associates, clients, Board members, external legal counsel, and other service providers

Ingrid Nordskog
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