Chief Compliance Officer

Chief Compliance Officer - (~500M hedge fund; report to head of firm; spun out of top 5 hedge fund 10 years ago; replacing generalist CCO who was there for ~5 years; Central NJ location; entrepreneurial, top intellectuals with many with PhDs from top universities  Total Compensation 150 to 175k (More for walk on water person))


GENERAL INFORMATION & RESPONSIBILITIES

~500M NJ hedge fund.  Total Compensation 150 to 175k (More for walk on water person)

General oversight of investment advisory activities to ensure compliance with all applicable laws, rules, regulations, and industry best practices.

KEY RESPONSIBILITIES

  • Conduct periodic reviews of written policies to determine effectiveness of compliance procedures;
  • Develop procedures to minimize the risk exposure while balancing business concerns.
  • Formalize and maintain policies and procedures, to ensure compliance with applicable regulations and verify that appropriate safeguards are in place to prevent, detect, and resolve breaches of Section 206 of Advisors Act and the Code of Ethics;
  • Keep abreast of changing regulatory environment and update compliance policies in response to such, communicate changes to business;
  • Conduct periodic reviews of implemented procedures to assess level of risk mitigation, check/balance, and industry best practice;
  • Perform and document annual review as required under Rule 206(4)-7;
  • Oversee procedures for review of transaction activity, allocation and aggregation, best execution, trading errors, etc;
  • Undertake monitoring and surveillance of transactions, investigating and resolving patterns of concern;
  • Monitor Soft Dollar Arrangements, insure proper disclose on Part II of Form ADV.
  • Provide guidance and advice to portfolio managers on Section 17 and Rule10f-3 transactions;
  • Manage process for:

o   Annual update of Form ADV (Part 1);

o   Periodic update of Part ll of Form ADV;

o   Initial Statement of Beneficial Ownership - Form 3;

o   Statement of Changes of Beneficial Ownership - Form 4; and

o   Annual Statement of Changes in Beneficial Ownership - Form 5.

  • Form 13F-HR filing;
  • Coordination and submission of advisor related reports, lists, information, acknowledgements etc. to third parties (administrator, custodian bank etc.) for Board and Trustee meetings;
  • Compliance with Rule 206(4)-1 (advertising & marketing materials);
  • Oversight of communications review, including electronic communications;
  • Conduct initial and annual compliance meetings;
  • Develop and implement staff training/continuing education program;

·         Monitor personal trading accounts, outside business activities and gift acceptance by staff;

  • Coordinate and manage internal audit reviews;
  • Management of regulatory exams;
  • Oversight of customer complaints handling and regulatory reporting;
  • Oversee compliance with record keeping and reporting requirements;
  • Manage regulatory investigations and inquires;
  • Development of Business Continuity Plan (consistent with regulatory requirements);


KEY SKILL REQUIREMENTS

Leadership Skills

Ability to interact with senior bank executives and fund directors on a regular basis; Ability to manage cross division matters/personnel; Needs to be a team player in working with personnel

 

Technical Specialist Skills

Required – Experience with the Investment Advisors Act  and the Investment Company Act

Nice to Have: Broker/Dealer compliance, AML and KYC rules, NASD advertising, Reg D, CFTC/NFA,  various Non US fund regulations ( i.e. CIMA, UCITS)

 

Planning & Organizing

Excellent ability to organize compliance matters for compliance and non-compliance professionals. Ability to present rules in a simple and organized fashion both verbally and in writing.

Client Orientation

Direct interaction with clients will be limited. However, need to be able to interact with external compliance and regulatory personnel.

Interpersonal Skills

High level of interpersonal skills to interact with compliance and business personnel

 

Client Contact/Relationship (internal and External)

Client contact will be limited. However, needs to understand client relationship and needs to be able to present compliance rules and regulations in a straightforward, non-threatening manner.

Candidate background/work experience

  • 5- 7 years experience as a compliance professional
  • Previous  experience in a gedge fund

Qualifications / LICENSING requirements

  • J.D. or CPA preferred but not required

PERSONALITY CHARACTERISTICS

  • Needs to be a team player
  • Must be able to communicate effectively to superiors, peers and subordinates
  • Needs to be a mature individual who will be respected by the internal and external board for which they serve