Job Opening

Wolfe Search Group
100 Cummings Center, Suite 332A
Beverly, MA 01915
(978) 921-7370

Lead Consultant : Todd Wolfe, Managing Director
tw@wolfesearchgroup.com


SENIOR COMPLIANCE MANAGER

Function: Legal & Compliance
Department: Compliance Position Type: Full-Time
Education Required: BA/BS or equivalent experience required Location: Boston, MA

Position Description

The Senior Compliance Manager will be an integral part of the firm’s Legal and Compliance Department (“Department”) and will report to the Deputy Chief Compliance Officer (“Deputy CCO”). The Department has a Charles River Development (“CRD”) Compliance Group with 11 compliance professionals whose primary responsibility is to oversee the firm’s compliance with its clients’ investment guidelines and restrictions through CRD. In addition to the oversight of new and amended client guidelines of existing product lines, there is a need to ensure that the firm takes prompt and appropriate action to address potential or actual violations of client guidelines in order to protect the client’s best interest, and to mitigate the firm’s liability for such. The Senior Compliance Manager will work closely with the existing Senior Compliance Manager to co-manage the CRD Compliance Group, and to implement new compliance initiatives for the firm by managing projects for the group that enhance existing or implement new functionality in CRD.

In addition to co-managing the CRD Compliance Group, the Senior Compliance Manager will assist the Deputy CCO with the due diligence that is performed in order to approve and implement new derivatives instruments, private placements, new country investments and other ad hoc projects. The Firm has adopted Derivatives and Unique Securities Policies and Procedures that set forth the firm’s requirements relating to transacting in new derivatives and unique securities (“New Instrument(s)”) for client accounts. The firm’s Risk Management Committee has created a sub-committee called the New Instrument Committee, which is comprised of senior representatives from Product Management, Trading, Pricing, Technology, Operations, Risk Management, and Compliance, and is co-chaired by the Chief Investment Risk Officer, the Director of Operations Technology and the Deputy CCO. The Senior Compliance Manager will assist the Deputy CCO in ensuring that all issues involved with the introduction of New Instruments have been identified, satisfied and captured in the New Instrument Due Diligence Form for review and approval by the firm’s Risk Management Committee.

Responsibilities

CRD Compliance Team Management Responsibilities

• Directly supervising Compliance Managers
• Manage projects for CRD related projects under his/her direct reports by ensuring that the projects satisfy required deadlines and its intended objectives to minimizes firm risk
• Work with members of the CRD Compliance Group to ensure timely and appropriate responses to the CRD Alerts reviewed by the Compliance Specialist
• Review, analyze and interpret restrictions found in client contracts and investment guidelines
• Review and validate CRD rule coding
• Work with members of the investment teams (Portfolio Managers, Portfolio Specialists, Traders and/or Client Service Representatives) to cure guideline issues in a manner consistent with The Firms’ fiduciary duty to its clients and draft error notification letters
• Work closely with Portfolio Managers and Client Service Representatives to seek guideline clarifications, amendments, and waivers from clients, as necessary
• Create reports for Senior Management to escalate outstanding guideline issues and CRD system related issues, as necessary and appropriate
• Back up the existing Senior Compliance Manager as necessary

New Derivatives, Complex Instruments and Private Placements

New Derivatives and Complex Instruments

• Set up, schedule, and take minutes for New Instrument Committee meetings. Track requests and status of new instrument implementations and compile materials for the meetings
• Establish and track deadlines for task completion for New Instrument implementations and identify any gaps in the process
• Follow up with senior representatives from all departments regarding outstanding issues that impact the implementation and completion of the New Instrument Due Diligence Form
• Identify accounts that need guideline revisions to invest in the New Instrument and coordinate internally with Client Services to obtain necessary client approvals
• Ensure that the manner in which the New Instrument will be treated for guideline purposes has been determined and that the coding of applicable rules has been completed and tested
• Follow up with Legal and Client Intake on the status of legal documents (e.g. ISDAs, borrowing agreements, etc.) required to implement certain New Instruments
• Work with senior members of the fund complex (40 Act and UCITS) to obtain Fund Board and/or regulatory approval to invest in New Instruments for proprietary funds. Complete any due diligence documentation required
• Update the Compliance Manual Policies and Procedures such as, Forward Obligation Cover Procedures and Liquidity Procedures, as necessary

Private Placement Deals

• Review offering documents, term sheets and other issuer documents for compliance with client guidelines, regulatory requirements, issuer imposed requirements, conflict of interest issues and tax requirements
• Work closely with Portfolio Managers, Operations and Trading to ensure that security set up, physical settlement, compliance treatment and pricing aspects of a privately placed negotiated deal are accurate and coordinated for deal closing
• Work with issuers to provide underlying clients with necessary tax documents for instruments with unique tax treatment
• Complete private placement due diligence forms, as necessary
• Review security fair valuation pricing forms and participate on monthly issuer calls, as necessary.

Other

• Complete due diligence work necessary to invest locally in new countries that The Firm has not previously invested in
• Implement policy and procedures regarding derivative compliance matters, including derivative tax issues
• Work on ad hoc compliance projects as necessary for the Deputy CCO
Qualifications

• Bachelor’s degree in a business related field. MBA or JD preferred
• and more

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