Head of Public Fixed Income Compliance
MetLife
Location: Philadelphia, PA or Whippany, NJ
Department: The Corporate Ethics and Compliance Department (“CEC”) manages the firm’s compliance risks to prevent violations of law, rule, or regulation, and designs and delivers a compliance risk management framework that maintains risk levels within the firm's risk appetite and protects the franchise. CEC is a risk-based department, focused on emerging risks, and providing constructive challenge to the business and functions, partnering closely with them to implement strong processes and effective controls, as well as to better foster and embed a culture of compliance. CEC monitors trends and changes in regulations and develops and implements firmwide and divisional policies and procedures.
The Role: This position will be responsible for the Compliance program for MetLife Investment Management’s (MIM) Public Fixed Income (PFI) line of business. MIM is a global asset manager with over $642.4 billion of total assets under management. It manages money in a number of asset classes for MetLife’s general account, insurance company subsidiaries, affiliated mutual funds, and third parties. MIM provides public fixed income, private capital, and real estate investment solutions to institutional investors worldwide. MIM has approximately $360 billion of Public Fixed Income assets under management.
This role will serve as a key partner to the PFI business, offering credible challenge, escalation of issues and reporting, and working closely with the business and operational partners to implement controls and guidelines while ensuring compliance with laws and regulations as well as MetLife policies, procedures and standards. This role will strategically review compliance controls to mitigate compliance risk and ensure the PFI compliance programs are fit for purpose in light of regulatory expectations, laws, and industry standards. This role will lead the design of enhancements to the PFI compliance program with a focus on driving efficiency and productivity to ultimately ensure an integrated function that is relevant to the businesses, understands and stays abreast of business priorities and the regulatory environment and trends, and pro-actively works with all lines of defense to help identify, manage, and report on compliance risk.
Being a pro-active and strategic leader and anticipating where issues may arise is critical, and the ability to get ahead of regulatory expectations is key to success in the role. The individual will be required to make sound judgment-based decisions and answer complicated compliance risk-related questions, put appropriate controls in place to mitigate risks, and exercise judgment to know when issues need to be further escalated to senior management for consideration and deliberation.
Key Responsibilities:
Manage advisory compliance and associated control environments and strike the balance between serving as trusted advisor to the business and encouraging a culture of robust challenge to the business.
Review existing compliance policies and procedures and make enhancements to strengthen processes, procedures and policies and stay head of regulatory requirements and expectations for PFI businesses
Design, enhance, and implement compliance activities to meet regulatory expectations for PFI
Issue spot, analyze, and dimension the complexity of risks and regulations in an asset management business, handling complex issues and engaging directly with regulators.
Conduct guideline monitoring and coding oversight
Drafting and oversight of regulatory filings (including Form ADV, Form PF, CFTC filings)
Review client marketing materials
Provide Compliance support during the RFP process and actively participate in client due diligence meetings
Support new product launched related to PFI
Interface with senior management to ensure effective awareness of key compliance risk areas and develop and implement mandatory and targeted training on relevant compliance regulations and processes.
Work collaboratively with business partners and senior leaders including those in IT, Legal Affairs, Corporate Licensing, and Internal Audit.
Advise on and provide credible challenge to compliance with relevant laws, regulations, and compliance policies.
Stay abreast of changes in the regulatory environment and analyze the business impact of regulatory changes
Provide meaningful compliance reporting to senior management
Design and implement appropriate surveillance and monitoring processes to ensure timely and effective remediation to mitigate compliance risk.
Work closely with peers in CEC to ensure consistent processes and approaches are followed and that synergies are realized, and provide Compliance support to other asset classes, as needed.
Key Relationships:
Direct reports/team: 1-2 Compliance Officers
Key Stakeholders: Leadership across CEC, leadership across Investments, PFI Business team located in Philadelphia, PA
Essential Business Experience and Technical Skills:
7 + years of experience in a compliance, legal, audit or related role with experience in PFI, in investment advisory or asset management leadership role, and/or serving in a business compliance management capacity
Comprehensive understanding of relevant securities laws and regulations, including Investment Advisers Act of 1940, the Investment Company Act of 1940, and SEC rules and regulations
Experience interfacing with senior leaders and the business to provide guidance with respect to compliance matters while accomplishing business objectives
Comprehensive understanding of applicable laws, regulations and requirements, including industry practices
Easily translates compliance matters to business executives and externally can interface with relevant regulatory authorities if needed
Building and maintaining strong relationships with other functions, including Legal Affairs, Risk Management, and Internal Audit to create a supportive and seamless compliance and ethical control culture and an appropriate risk environment
Championing a high-performance environment and implementing a people strategy that attracts, retains, develops, embraces diversity and motivates teams by fostering an inclusive work environment; communicating vision/values/business strategy and managing succession and development planning for the team
Being a transformation leader for CEC to strengthen CECs and MetLife’s compliance risk management by being forward looking, embracing and leading change, collaborating on compliance best practices, and methodically working to strengthen compliance coverage
Excellent written and verbal communication skills, including the ability to prepare and conduct presentations and communicate with senior and executive management
Must be a dedicated, self-motivated individual with an ability to work independently and in a team environment
Must be a results-oriented, performance-based leader who will produce results based on stated goals and objectives and must be able to ensure that individuals in the organization produce results based on their respective performance and development plans
High degree of professionalism, sound judgment and discretion
Excellent interpersonal skills required to develop partnerships and relationships throughout the organization
Ability to think proactively and make recommendations and complex decisions, and to anticipate regulatory needs and expectations and plan for them
Drafting Form ADV and oversight of other regulatory filings, as needed (i.e. Form PF, CFTC filings)
Assist on RFP, client marketing material
Attend client due diligence meetings
Advising of issues relating to registered funds
Support new product launches related to PFI (i.e. private funds)
Exceptional ability to manage confidential information in a professional manner
Advising on trading issues relating to PFI, experience with Aladdin trading systems and an understanding of coding client portfolios
Thinks 2-3 years ahead and can identify how to accomplish future goals
Educational background – minimum Bachelor’s Degree, J.D. and/or MBA preferred
Leadership Competencies:
Motivates People - Gains people commitment to achieve business objectives through clear communication of the company’s vision and flexing leadership styles to inspire high performance.
Creates Partnerships - Authentically builds trusted relationships and collaborates across global, diverse and multi-functional teams to successfully drive business objectives.
Models our Values - Creates a culture that promotes the company’s values and standards through role modeling, accountability and ownership of decisions.
Drives Results - Sets aggressive goals and is accountable for continuously driving improved performance, leading change and ensuring high standards.
MetLife:
MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East.
We are one of the largest institutional investors in the U.S. with $642.4 billion of total assets under management as of March 31, 2021. We are ranked #46 on the Fortune 500 list for 2021. In 2020, we were named to the Dow Jones Sustainability Index (DJSI) for the fifth year in a row. DJSI is a global index to track the leading sustainability-driven companies. We are proud to have been named to Fortune magazine’s 2021 list of the “World’s Most Admired Companies.”
MetLife is committed to building a purpose-driven and inclusive culture that energizes our people. Our employees work every day to help build a more confident future for people around the world. Visit us at www.metlife.com to learn more about our brand, history, and values.
We want to make it simple for all interested and qualified candidates to apply for employment opportunities with MetLife. If you need assistance and/or a reasonable accommodation due to a disability during the application or the recruiting process, please send a request to accommodations@metlife.com or call our Employee Relations Department at 1-877-843-3711.
MetLife is a proud Equal Employment Opportunity and Affirmative Action employer dedicated to attracting, retaining, and developing a diverse and inclusive workforce. All qualified applicants will receive consideration for employment at MetLife without regards to race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.
MetLife maintains a drug-free workplace.