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Assistant Director - Investment and Fund Compliance

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Summary

The Assistant Director – Investment and Fund Compliance will be a member of Northwestern Mutual’s compliance department and will primarily focus on supporting the company’s registered mutual fund business and the registered investment adviser to the funds. The position will serve as the program lead working closely with other members of the compliance department, business partners, legal team, fund administration and operations teams, and other service providers and stakeholders on the daily administration of the compliance programs. This includes supporting all aspects of the compliance programs, including among other things the design and operation of compliance policies and procedures, risk evaluations and conflicts monitoring, testing, training, addressing violations, and reporting. The person in this role must stay current on legal and regulatory developments and best practices impacting registered mutual funds and their investment advisers and support the design and implementation of appropriate adjustments to the compliance programs and risk management processes. The program lead will report to the divisional leader for the compliance department’s institutional and fund compliance team and work closely with the Chief Compliance Officer (CCO) for the company’s institutional investment adviser subsidiaries and its registered and unregistered funds.

Primary Duties & Responsibilities

  • Primary compliance contact with responsibility for the management and operation of all aspects of the Rule 38a-1 and Rule 206(4)-7 compliance programs on a day-to-day basis.
  • Direct and oversee the involvement of other compliance team members assigned to support the compliance programs and may include directly managing other team members.
  • Primary contact for portfolio management and other business partners, investment operations, mutual fund administration, in-house legal team, other compliance teams and internal audit.
  • Lead the evaluation and resolution of compliance matters arising in the normal course of business.
  • Recommend and consult with the CCO on the design and implementation of policies, procedures and adequate controls and quality assurance processes to detect and address potential compliance issues.
  • Lead annual compliance program reviews, including the evaluation of risks and conflicts, compliance policies and procedures, and other aspects of the programs, and consult with the CCO on key findings and enhancements. Support the CCO in preparing the annual compliance program review reports.
  • Monitor and evaluate the impact of business and regulatory developments on the programs, including new rules, regulatory guidance and best practices, and recommend and consult with the CCO on program adjustments.
  • Lead the production of quarterly compliance reports and other materials for board meetings of the mutual fund and investment adviser, and attend and present at the meetings.
  • Lead compliance oversight of sub-advisers and other key service providers, including frequent communication with compliance staff, distribution and review of annual, quarterly, and other periodic questionnaires, participation in virtual and on-site (as practicable) due diligence calls, and documentation and reporting of findings.
  • Represent compliance on committees of the mutual fund and investment adviser (e.g., brokerage, proxy, liquidity risk management) and prepare and present related compliance reports.
  • Serve as a primary point of contact and liaison for regulators along with the CCO on all regulatory exams and inquiries together with other members of the compliance department.
  • Lead the design and drafting of compliance policies and procedures, as needed.
  • Lead the development and administration of compliance supervision, testing and training programs.
  • Primary compliance contact for regulatory filings, including but not limited to Form N-1A, ADV, N-PX, N-CSR, N-PORT, N-CEN, N-RN, Section 13 filings, and others.
  • Represent compliance as lead contact for special projects, including but not limited to the launch of new mutual funds and mutual fund-related business lines.
  • Serve as primary compliance program contact for internal and outside audits.

Knowledge, skills, & abilities

  • Bachelor’s and/or Master’s degree, with an emphasis in business, finance, accounting or equivalent preferred. MBA, JD, CFA, CPA a plus.
  • Minimum of 7 years professional experience, preferably with an investment management or financial services firm and a background in compliance, risk management or related role.
  • Broad financial services knowledge and understanding of fundamental investment concepts, practices and procedures in the securities industry.
  • Demonstrated competency and experience with compliance program structures and key concepts.
  • Experience with investment management and/or mutual fund products, services and processes. Knowledge of compliance rules under the Investment Advisers Act of 1940, the Investment Company Act of 1940, and other federal securities laws a plus.
  • Competency or ability and willingness to learn key compliance, reporting and data systems and tools (e.g., Bloomberg, FIS Personal Trading Assistant, etc.).
  • Ability to effectively structure presentations and other communications for boards, committees and senior management.
  • Ability to build consensus around compliance related policies, decisions and diplomacy. Strong interpersonal skills. Ability to deal effectively and professionally with people at all levels, and with confidential corporate and personal information.
  • Demonstrate initiative and creativity to identify opportunities to enhance existing processes and implement them. Demonstrate a strong sense of ownership and accountability. Ability to work collaboratively with a team and also independently to effectively accomplish duties and tasks with little oversight.
  • Ability to balance multiple tasks and effectively manage competing and changing priorities to meet deadlines. Ability to cope with change and uncertainty. Forward thinker with an ability to anticipate problems and propose solutions. Ability to strategically lead investment compliance initiatives and workflow.
  • A conceptual thinker with the ability to understand the big picture and consider the components of a process and their designed to achieve an ultimate goal.
  • Demonstrated attention to detail.
  • Excellent organizational, problem-solving, decision-making and time management skills.
  • Excellent written and verbal communication skills.
  • High level of integrity.

Benefits:

Great pay package, 401K, company sponsored retirement plan, educational assistance, performance based incentive pay, medical, dental and vision insurance, parental leave, caregiver time off….and more!

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W e are an equal opportunity/affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender identity or expression, sexual orientation, national origin, disability, age or status as a protected veteran, or any other characteristic protected by law.

If you work or would be working in Colorado or outside of a Corporate location, please click here for information pertaining to compensation and benefits.


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