Job Title: Compliance Specialist
Status: Full-Time; Exempt
Reports To: VP, Compliance
Position Summary:
The Compliance Specialist will assist in the supervision of transactions, outside business activity review, email reviews, trade blotter review, communications, and other compliance functions. This role supports compliance efforts for both Good Life and its affiliated financial advisors by helping ensure adherence to applicable regulations and internal policies.
The position collaborates with the compliance team under the guidance of the VP of Compliance and provides operational and administrative support to the firm?s SEC-registered investment advisor. This includes executing day-to-day tasks and supporting ongoing compliance operations.
Essential Roles and Responsibilities:
- Act as an Office of Supervisory Jurisdiction (OSJ) Delegate with review of transactions for suitability and best interest, monitor daily reports and alerts for reports of unusual activity, and field calls from advisors and internal business partners.
- Build rapport with advisors to support clear compliance communication and proactively help address potential risks in day-to-day activities.
- Help staff and associated representatives develop a broader skill base and level of understanding of risks and their compliance responsibilities.
- Manage multiple and changing priorities, expectations and concerns while working closely with the financial advisors in a focused and responsive manner
- Assist with the maintenance of the Compliance department's written supervisory procedures.
- Offer assistance with regulatory exams and audit requests
- Accountable for planning and preparation of pre-audit material, follow-up with financial advisors, and support to sustain successful compliance practices.
- Provide feedback on opportunities to improve compliance processes and support implementation efforts as directed by leadership.
- Assist in gathering data and preparing recommendations to support risk-related initiatives led by senior compliance leadership.
- Coordinate the filing of the weekly, monthly and quarterly reporting obligations of all affiliated personnel.
- Collect and document Client Annual Reviews and Account Reviews; Business Continuity Plans; Personal Securities; Advisor Correspondence; and Financial Plans.
- Participate in and support process improvement initiatives, utilizing continuous improvement methods and tools to enhance the efficiency of departmental tasks
- Assist with the onboarding/termination process for investment adviser representatives (IARs), registered representatives and their staff.
- Track licenses and registrations, handle renewals, ensure ongoing training and continuing education requirements are met for IARs and registered representatives
- Assist with timely and accurate filing of regulatory reports (e.g., Form ADV, U4, U5, 13F and other required filings).
- Review disclosure related documentation and provide guidance to registered individuals on disclosure reporting requirements.
- Assist in the investigation of compliance matters by gathering information, preparing summaries, and escalating findings to senior compliance staff for review.
- Support the compliance team by researching regulations and preparing summaries to assist in policy updates and decision-making.
- Create and maintain internal compliance tracking dashboards and assist in preparing reports for leadership review.
- Perform other duties and complete ad hoc projects as assigned.