Commonwealth Financial Network

  • Director, RIA Compliance

    Job Locations US-MA-Waltham
    Job ID
    W-2018
    # of Openings
    1
    Category
    RIA Services
    Type
    Full-Time
  • Overview

    Commonwealth Financial Network® is the largest privately held Registered Investment Adviser–independent broker/dealer in the U.S., with offices in Waltham, Massachusetts, and San Diego, California. Since 1979, we’ve been helping our field force of independent financial professionals help investors pursue their financial goals. We do that by providing them with the technology, research, resources, and support that allow them to keep their focus on what’s most important: investors and their financial objectives.

     

    With that said, we are not your typical financial services firm. For starters, we’re a fast-growing company, and we think and have fun like a start-up. Conveniently located on the commuter rail near the intersection of I-95 and the Mass Pike, we’re accessible from anywhere—and away from the congestion of a downtown commute.

     

    Commonwealth recognizes that our people are our greatest asset by investing in training and professional development. As a result, Commonwealth has been recognized 40 times (and counting) as one of the Best Places to Work by top publications in the region (Boston Globe, Boston Business Journal, San Diego Business Journal, San Diego Union-Tribune), as well as in the IT industry (Computerworld). With high marks in areas such as work environment, work/life balance, job satisfaction, and opportunities for advancement, Commonwealth is a place where you can thrive.

     

    Discover what it’s like to be psyched to come to work every day! We offer you:

     

    • Generous bonus and stock option incentive plans
    • Use of our chairman’s vacation properties (Cape Cod, Lake Winnipesaukee, Sunday River, Key Biscayne, Las Vegas, Park City, the Bahamas, and the Dominican Republic) at no cost
    • Fully paid maternity leave (12 weeks) and spousal leave (3 weeks)
    • A more relaxed, “dress for your day” dress code
    • A free on-site fitness center
    • Ample opportunity to volunteer with and support local charities
    • A VTO (volunteer time off) day to use toward a cause that’s important to you
    • Tuition reimbursement
    • Free breakfast on Fridays
    • A competitive benefits package—and much more

    About the Opportunity

    As the financial services industry continues to evolve, Commonwealth remains committed to its legacy of providing indispensable service: a level of service so satisfying that our customers would never want to be without us. Your days will have you directing, supervising, and managing all compliance aspects of the RIA Services and Investment Adviser Compliance units; designing and implementing policies, procedures, and controls; ensuring that our RIA activities remain in compliance with applicable regulatory requirements; managing the RIA Services and Investment Adviser Compliance teams; and more.
     
    If you think you have what it takes—including the ability to distinguish and accurately articulate the regulatory differences between FINRA-based advisors and fee-only advisors on a consistent basis, superb analytical and problem-solving skills, and a background in financial services with at least five years of Registered Investment Adviser compliance experience—then let’s introduce ourselves. This position will report to the chief compliance officer.

    Responsibilities

    • Directing, supervising, managing, and being the subject-matter expert on all aspects of RIA compliance; acting as first-line backup to the chief compliance officer
    • Designing, implementing, and periodically updating RIA compliance systems, policies, procedures, and supervisory controls to reasonably supervise all firm RIA activity to detect and deter violations of internal policies, procedures, and applicable state and federal rules and regulations
    • Creating, implementing, and overseeing the compliance program and serving as the primary point of contact for both fee-only and dually registered advisors
    • Directing and coordinating continuous improvements of enhanced systems and processes used to conduct routine or investigative reviews on behalf of RIA Services and the Investment Adviser Compliance Unit
    • Training, supervising, and managing RIA Services and Investment Adviser Compliance Unit team members and providing ongoing guidance, support, and direction to other business units, including the firm’s fee-only financial advisors
    • Providing advisory consulting services to advisors with outside RIAs, including guidance with Form ADV, advisory contracts, written supervisory procedures, code of ethics, supervisory controls, performance reports and statements, and advertising
    • Ensuring that our company’s RIA activities remain in compliance with applicable SEC and state rules and regulations, as well as the requirements of the Investment Advisers Act, Securities Exchange Act, Securities Act, and Investment Company Act, as applicable
    • Interacting and responding to SEC, state, and any other regulatory agencies as necessary or requested; serving as primary point of contact for internal and outside RIA inquiries and examinations, as applicable
    • Staying up to date with and providing direction for all applicable areas of responsibility on an ongoing basis, including the rulemaking process, relevant enforcement actions and no-action letters, RIA exam priorities, and RIA best practices
    • Keeping on top—and ahead—of industry developments and SEC regulations and being responsive to the evolving needs of our firm and our advisors
    • Exercising common sense, reasonable judgment, and creative thinking in the performance of your functions within the confines of applicable rules and regulations

    Qualifications

    • A background in financial services that includes at least five years of experience in an investment advisory compliance or supervisory role with a Registered Investment Adviser
    • A thorough understanding and working knowledge of the Investment Advisers Act and all applicable rules and regulations, as well as an ability to understand and reasonably apply those rules and regulations to RIA activities
    • Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures and statutes, and rules and regulations of applicable regulatory and self-regulatory agencies
    • Extensive knowledge of the RIA marketplace
    • Excellent communication, listening, writing, and relationship-building skills
    • Superb analytical abilities and problem-solving skills

    Summary

    Have we piqued your curiosity? Can you see yourself thriving in this career opportunity as well as our Anything but Common® workplace culture? If so—and if your background and experience align with our needs—please do submit your application right away.

     

    Commonwealth Financial Network® is an equal opportunity employer that is committed to a diverse workforce.

     

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