VP, Supervision - Fiduciary Services - Req. 1802579
Senior Supervision Officer to lead the Fiduciary Services function with a specific focus on developing solutions and guiding the firm’s platform enhancements in response to both new and existing fiduciary regulations on both the federal (e.g. Securities and Exchange Commission and Department of Labor) and individual state level. Work with SVP of Product and Client Segment Supervision to advise program stakeholders, supervision, compliance, legal and business leadership of any changes made to fiduciary related regulations and assess impact on Raymond James programs. Engage with Field Supervision and regional teams as needed to provide input and develop solutions on major fiduciary related supervision matters. Develop relationships with technology teams and work with IT to improve supervision monitoring and enhance supervision oversight capabilities to support existing and new regulations. Lead large programs with significant scope and impact in a matrix organization where those executing will often not have a direct reporting relationship.
This individual will participate in ad hoc supervision related projects as needed and will possess outstanding verbal and written communication skills. This individual will draft internal and external communications on proposed fiduciary regulations. Detail and deadline oriented and the ability to serve as a technical resource, particularly with interpretation of regulations and their potential application to the Firm’s supervision program are requirements. Must be able to work across the enterprise with all lines of business.
Works independently and supervises others to perform difficult assignments that are broad in nature, and that require originality and ingenuity with appreciable latitude for decisions. Provides comprehensive solutions to complex problems. Maintains extensive contact with internal clients, industry experts, industry trade organizations, and regulatory agencies to identify research, analyze and resolve complex issues related to fiduciary rulemaking with significant impact.
Essential Duties and Responsibilities:
• Continual monitoring of changes to federal and state fiduciary investment advice rules; communicate material changes to impacted lines of business.
• Lead projects to change business processes in response to changes in fiduciary regulation.
• Respond to applicable inquiries and exams, and manage relationship with applicable regulatory bodies.
• Work with business management to develop, communicate and implement strategies, procedures and technology systems.
• Research existing rules and monitor compliance.
• Develop, implement, sustain, monitor and when necessary revise supervision programs that reflect “best practices” and ensures the firm is adhering to all legal and regulatory requirements.
• Communicates with the field regarding regulatory rules and firm policy changes.
• Consults independently with all levels of management and recommends actions to ensure compliance with both new and existing rules and regulations.
• Ensure that fiduciary procedures are appropriately documented and referenced in the firm’s manuals and written supervisory procedures where appropriate.
• Partner with senior business executives, legal, risk management, and compliance to appropriately mitigate and manage risk.
• Work with business partners and managers to ensure policies and procedures adhere to required regulations.
• Support a culture of risk management and compliance throughout all levels within the firm.
• Respond to, oversee and/or assist counsel with responses to regulatory inquiries.
• Establish process with business partners to ensure that management issues are identified, tracked, and remediated.
• Work with senior management to create a set of quality control processes of supervision oversight and identify opportunities for training or process improvement.
• Perform other duties and responsibilities as assigned.
Knowledge, Skills, and Abilities:
• Laws and regulations governing fiduciary rule supervision, as well as familiarity with broker-dealer and asset management regulations.
• Past fiduciary rule compliance efforts and programs at a broker-dealer.
• ERISA regulations.
• Regulatory filings and regulatory reporting requirements.
• Securities Exchange Commission (SEC), FINRA, and other financial industry rules.
• State securities regulations.
• Financial services and products.
Skills and Abilities
• Administer regulatory notifications and filings.
• Plan and schedule work to meet regulatory organizational and regulatory requirements.
• Identify and apply appropriate compliance monitoring procedures and tests.
• Report accounting data and information.
• Prepare oral and/or written reports.
• Project management skills and experience sufficient to successfully complete long and short term projects.
• Strong analytical skills, including demonstrated experience identifying and quantifying complex problems and providing effective resolutions.
• Attend to detail while maintaining a big picture orientation.
• Work under pressure on multiple tasks concurrently and meet deadlines in a fast-paced work environment with frequent interruptions and changing priorities.
• Use appropriate interpersonal styles and communicate effectively, both orally and writing, with all organizational levels.
• Establish and maintain effective working relationships at all levels of the organization.
• Partner with other functional areas to accomplish objectives.
• Facilitate meetings, ensuring that all viewpoints, ideas and problems are addressed.
• Gather information, identify linkages and trends and apply findings to assignments.
• Interpret and apply investment advisor regulations and identify and recommend changes in policies and procedures, as appropriate.
• Investigate compliance issues.
• Make rule-based and analytical decisions.
• Work independently as well as collaboratively within a team environment.
• Build teams.
• Lead the work of others and manage, coach and mentor less experienced staff.
• Maintain confidentiality.
• Provide a high level of customer service.
• Maintain currency in laws, rules and regulations.
• Operate standard office equipment and use required software applications, including database applications and regulatory agency systems.
Educational/Previous Experience Requirements:
• Bachelor’s degree (B.A) in a related discipline with a minimum of twelve (12)+ years of Supervision, Compliance, Legal, or Regulatory Risk Management experience in the financial services industry.
• A minimum of ten (10) years of managerial experience with knowledge and experience regarding a broad range of financial services.
• Graduate degree with substantial leadership experience preferred.
• Strong working knowledge of ERISA strongly preferred.
• Any equivalent combination of experience, education, and/or training approved by Human Resources.
• Appropriate series license(s) for assigned functional area preferred or the ability to obtain within an established timeframe.
• Additional licenses/certifications demonstrating the candidate’s knowledge/expertise in industry regulation and concepts preferred.