RCA Professional Minneapolis, MN

Partners with their assigned Line of Business, other Risk/Compliance/Audit (RCA) professionals, and RCA Managers to, depending on their function, create, implement, maintain, review or oversee an effective risk management framework. Participates in projects and/or activities that ensure compliance with applicable federal, state, and local laws and regulations. Identifies gaps and inform solutions that minimize losses resulting from inadequate internal processes, systems or human errors. Identifies, responds and/or escalates risks as appropriate. Serves as a functional liaison between the Line of Business and the Lines of Defense.

Basic Qualifications
- Bachelor's degree, or equivalent work experience
- Typically, more than two years of applicable experience

Preferred Skills/Experience

-Bachelor’s degree in business, Finance, Accounting, or related discipline

-Knowledge of Bloomberg Compliance Module/System & Rule Writing
- Intermediate knowledge of applicable laws, regulations, financial services, and regulatory trends that impact their assigned line of business
- Intermediate understanding of the business line’s operations, products/services, systems, and associated risks/controls
- Basic knowledge of Risk/Compliance/Audit competencies
- Strong analytical, process facilitation and project management skills
- Effective presentation, interpersonal, written and verbal communication skills
- Proficient computer navigation skills using a variety of software packages, including Microsoft Office applications and word processing, spreadsheets, databases, and presentations

Additional Job Description:

This position primarily is responsible for the development and monitoring of USBAM/PFMAM SEC Rule 206(4)-7 Compliance Program as it relates to the oversight and due diligence review of the duties and responsibilities of the investment adviser and sub-advisers.  This position also will primarily assist with Portfolio and Trading Compliance and the overall daily monitoring of trade activity.   This individual will have direct interaction with senior management of USBAM & PFMAM, and advise executive and line management on emerging compliance issues, and will be responsible for establishing policies, procedures and controls.

Key Responsibilities:

Assist the Director of Portfolio and Trading Compliance (“Compliance Director”) with the compliance program under SEC rules 206(4)-7.  Develop as the ‘go to’ person within USBAM & PFMAM for policies and procedures relating to best execution, trade allocation, training, adviser regulatory filings and other supervisory responsibilities.  Develop policies and procedures relating to the adviser and ensuring that such policies and procedures are up to date and reflect current operational practices. Contribute as a proactive voice within Portfolio compliance, as well as USBAM/PFMAM separate accounts, funds, and institutional accounts.  Support the CCO and Compliance Director on trading compliance and compliance rule setup in the trade order management system. Review daily account data and changes, as well as review and amend investment policy statements. Review daily alerts and warnings in the trade order management system, communicate with Portfolio Managers & Traders, while tracking outstanding issues and their resolution. Follow through on specific compliance and business-related issues for senior management and play a key role in resolving these issues.  Identify and communicate regulations relevant to USBAM/PFMAM lines of business, in a way that supports compliance as a positive factor in the commercial success of the business. Provide proactive and situation-specific support on individual transactions and projects and on broader issues of policy and principle to ensure that applicable laws and regulations, as well as USBAM/PFMAM standards, are fully observed in spirit as well as in letter.  Ensure productive relationships within USBAM/PFMAM, striving to establish a constructive relationship based on clear communication, mutual understanding, and shared objectives.  Assist with vendor management, reporting, and inquiries, as needed.  Assist with research and responses to regulatory examinations by federal regulators and internal audits.  Ensure productive relationships with internal auditors and regulators.  Assist with compliance controls reviews/testing, requests, and management of issues resulting from such reviews. Assist with weekly, monthly, quarterly, and annual reporting. Contribute to the development of ideas relating to the implementation of systems to automate compliance and create operational efficiencies. Assis with record retention policies, and large-data management.  Work closely with USBAM/PFMAM Legal and Corporate Compliance and follow through on issues pertaining to compliance.

Additional Information:

A minimum of five years of compliance experience in investment adviser, mutual fund regulatory compliance. This experience will likely include significant roles and responsibilities in the compliance area of investment management company and/or investment advisor.  Proven ability to function in a fast paced, risk-conscious environment while working within strategies to move the business forward.    Ability to interface effectively with management and team members.  A high level of sophistication and experience with the use of information technology in support of the compliance functions is a must, as well as experience utilizing the Bloomberg compliance module.  Demonstrated success in working within processes, procedures and systems that optimize compliance and business results.  Demonstrates leadership, consulting, presentation and project management skills. The role will require an early start/shift coinciding with the US east coast markets [7am – 3pm CT].