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Director
Fidelity Investments
Boston, MA, United States
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Director, Compliance
Fidelity Institutional (FI) is looking for a proven compliance professional to provide regulatory expertise and compliance support to FI’s newly created Investment Adviser. The individual will be responsible for providing counsel on regulatory and compliance requirements, creating policies and procedures, and assisting with the SEC 206(4)-7 compliance program while demonstrating superior work ethic, relationship management skills, regulatory knowledge, and a commitment to Fidelity’s values and high quality assurance standards.
The Expertise We’re Looking For
• 10+ years of Compliance, Risk, and/or Regulatory experience in the financial services industry
• 8+ years of investment adviser compliance or investment adviser regulatory experience
• Deep knowledge of the Investment Advisers Act of 1940, SEC regulations, No-Action Letters, and Enforcement Actions
• Experience in understanding and implementing processes, controls, and / or supervision or compliance activities relating to new / changed financial services regulations
• Experience in implementing processes, controls, governance, and / or supervision / compliance activities for new / changing business models, services/products, and / or technologies
The Purpose of Your Role
You will be part of a team responsible for supporting a large investment adviser creating policies, procedures, and controls to help ensure compliance with federal and state laws and regulations. You will have responsibility for compliance review of advisory products, services, tools, and methodology including identification of associated conflicts, compliance with fiduciary obligations, recordkeeping requirements, performance reporting, etc. You will develop and implement an effective 206(4)-7 compliance program which may include due diligence, testing, and monitoring. You must have the ability to quickly adapt to changes in regulations, organizational structure, technology, processes, products, and services and will have the ability to effectively collaborate with business and control function partners, such as compliance, legal, risk and audit. You will also be responsible for other key areas of investment adviser support as needed including resolution of errors, service recoveries, sales practice and supervision support, etc. You will draft and update compliance policies and procedures, create and execute testing and reviews, and develop/deliver training. You will travel between Boston, MA and Smithfield, RI locations as needed.
Your guidance on the regulatory requirements and how to practically implement those requirements specific into processes, controls, and supervision activities will help strengthen the Fidelity Institutional control environment.
You will help enable Fidelity Institutional growth by collaborating with dedicated professionals and provide guidance associated with applicable regulatory requirements and / or expectations for developing new products, services, solutions, and tools for our clients.
The Skills You Bring
• You are a strong self-starter, relationship builder, and strategic thinker
• You have an advanced ability to understand and analyze complex financial, legal, operational and regulatory requirements
• You work well in a matrixed environment
• You have advanced presentation skills and are able to effectively communicate; you are skilled at interactions with employees at all levels
• You can operate collaboratively in fast-moving and changing environment
• You are able to influence key decision makers through a combination of knowledge, reasoning, and relationships
• You are an astute facilitator capable of commanding respect and gaining consensus
• You can succeed in a deadline-driven work environment
• You have and are able to demonstrate sound judgment and discretion
The Value You Deliver
Your role will focus on investment adviser compliance responsibilities and product distribution advice and guidance. This will include providing compliance guidance and counsel on various product initiatives and independently researching, providing advice and counsel staff on regulatory and compliance requirements. It will also include:
• Serving as subject matter expert and helping draft ADV brochure updates for annual updates and filings
• Developing & implementing annual compliance report process and supporting the 206(4)-7 compliance program
• Helping develop guidelines to manage conflicts of interest and implement appropriate compliance policies and procedures: and
• Identifying, resolving, monitoring, and tracking compliance matters
How Your Work Impacts the Organization
This position is a key compliance resource providing dedicated investment adviser compliance support to Fidelity Institutional. FI is the institutional distribution arm of Fidelity Investments. The FI Compliance organization is responsible for providing regulatory / compliance advice, designing supervisory frameworks and programs, and implementing effective oversight and support program that assists Fidelity Institutional with its’ mission of providing financial intermediaries with solutions and tools for their associates and customers while helping mitigate regulatory risks for Fidelity. Fidelity Institutional provides sophisticated offerings and solutions to broker-dealers, banks, registered investment advisers, family offices, capital markets, trust services, and retail segments