Manager, Investment Compliance - Wealth Management

Northern Trust • Chicago, IL

6d • $83,100 - $141,300

About The Position

This role supports Wealth Management Investment Compliance and the Wealth Management Investment Practice with responsibility for team leadership, compliance risk oversight, policy and procedure governance, business advisory support, and strategic execution across investment-related processes. The position requires a senior compliance professional who can connect regulatory expectations, fiduciary obligations, operational controls, and business priorities into clear guidance for stakeholders. Accountable for the assignment and execution of work with compliance analysts and the performance management process and staffing of the unit. Participates with the Head of Investment Compliance in the developing and executing the strategic plan, update of investment policies and procedures, and other key functions. Will take on additional ad-hoc project work as needed.

Requirements

• Knowledge of laws and regulations that govern financial services activities, usually acquired through formal education and experience, is required.
• Analytical and communication skills are required to review laws/regulations and assess impact of new regulations and work with business partners to ensure compliance.
• Management and organizational skills are required to manage the team and direct the teams activities.
• Knowledge of investment terminology, characteristics of the various, marketplaces, the laws and regulations governing trust investments and taxation, the bank's policies, procedures and strategies, acquired through work experience and formal education.
• Solid experience, preferably in compliance or risk management; or equivalent related experience.
• 7-10 years plus years of investments related experience in wealth management, asset management or other financial service organizations.
• Prior management experience is also preferred.
• Communication skills are required to guide sensitive or difficult situations.
• Leadership and organizational skills are required to determine the unit goals, resources needed, and to assess and develop the skills of the staff.

Responsibilities

• Manages a small business unit compliance team. Conducts the performance management process, identifies training and development needs, and establishes performance standards for the team.
• Participates in developing the business unit compliance team strategic plan and sets goals and priorities based on the direction set for the team. Follows through to ensure that objectives are met.
• Overseas compliance with the code of ethics for wealth management and works with team and identification and management of conflicts of interest in the investment process.
• Supports standing investment services committees and on ad hoc unit committees as appropriate.
• Provides guidance to staff, fostering an environment that encourages employee participation, teamwork, and communication.
• Advises business partners, on applicable laws, rules and standards, which may impact their businesses.
• Implements the Corporate Compliance Program within the business unit and acts as a contact point within the business unit for inquiries from Corporate Compliance partners.
• Partners with Corporate Compliance to identify business partners who are required to take certain training to comply with regulatory requirements.
• Develops written procedures to comply with applicable laws, regulations, rules and standards which may impact the business.
• Identifies, documents and escalates to Corporate Compliance and BU management, compliance risks associated with the business units activities.
• Oversees the completion of compliance risk assessments and participates in assessing the applicability of the Company's Compliance program and guidelines to the business unit.

Benefits

• retirement benefits (401k and pension)
• health and welfare benefits (medical, dental, vision, spending accounts and disability)
• paid time off
• parental and caregiver leave
• life & accident insurance
• other voluntary and well-being benefits
• discretionary bonus program that may include an equity component

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: No Education Listed