Deputy Compliance Officer
Siebert Williams Shank & Co., LLC (“SWS” or the “Firm”) (a FINRA-registered broker/dealer) is seeking to add a knowledgeable, driven, intellectually curious and experienced compliance professional to the compliance teams led by the Chief Compliance Officer. The selected candidate will be a member of a unified crew that has overall responsibility for the firms’ compliance programs including developing policies and procedures, communicating all regulatory changes to the taxable fixed income, municipal & equity securities sales & trading, public & corporate finance groups, and training, testing and assessments. In addition, the selected candidate will assist with risk management, provide advice on and oversight of SWS’s compliance with US securities laws and regulations. Must possess an in-depth understanding of MSRB, FINRA and SEC rules including investment advisors under the Investment Advisers Act of 1940 and similar state statutes.
SWS is a full-service investment banking and financial services company dual-headquartered in New York and Oakland. As one of the nation’s largest minority-owned and women-owned broker-dealers, SWS is a perennial leader as a co-manager of investment-grade corporate debt, a national leader in public finance investment banking, a named dealer on more than 40 commercial paper programs, and a seasoned and successful share repurchase agent. All activities are supported by a robust secondary sales and trading platform, and a sound regulatory capital base. We are a SEC-registered securities broker-dealer and member of the Financial Industry Regulatory Authority (FINRA) and the Municipal Securities Rulemaking Board (MSRB).
Essential Duties and Responsibilities:
- Support compliance efforts related to supervisory oversight, training, e-mail surveillance, branch office exams, FINRA licensing and registrations, anti-money laundering supervision, and advertising
- Work with senior management, Legal, Compliance, HR, Marketing, registered representatives, and other key constituencies to train, promote and enhance a culture that encourages ethical conduct and a commitment to compliance with applicable laws and regulations
- Monitor the effectiveness of established compliance processes and controls across all business lines and recommend and implement enhancements; work in conjunction with department managers to update the Firm’s Written Supervisory Procedures (WSPs) based on new rules and regulations and/or process enhancements and communicate such changes simply and efficiently to affected business units in order to minimize bureaucracy and process burden
- Provide compliance support for the Municipal Securities Division, with a focus on the Public Finance underwriting business
- Provide advice on MSRB, FINRA, and SEC rules, regulations and interpretive guidance, as well as applicable internal policies and procedures
- Review and approve meals and entertainment requests, political contribution requests, sponsorship requests, bond ballot contributions, and quarterly MSRB G-37 filing
- Demonstrate ability to effectively review and analyze complex situations and apply judgment to resolve issues in a timely manner with minimal supervision
- proficient in time management and able to initiate and manage projects
- Mange KYC process on new customers, enforce accurate review of OFAC searches
- Assist with managing regulatory exams, investigations and inquiries conducted by FINRA, SEC and state regulators coordinating with regulators, auditors, compliance personnel and each business unit management
- Continually assess the inherent risk of business units as well as the effectiveness of mitigating controls to minimize the residual risk of reputational damage, regulatory consequences and other operational risk
- Assist with the supervision of sales related activities
- Integrate industry benchmarking and best practices through ongoing research, education, and industry affiliations
- Develop and conduct compliance training ensuring courses are compatible with regulations
- Bachelor’s Degree or equivalent work experience
- Series 7, 24, 14, 52 or 53 required; other regulatory licenses desired
- At least 7 years working for a broker-dealer, with at least 5 years of compliance experience
- Experience with fixed income products (notably municipal, corporate, government, and agency bonds) and equity securities required to determine appropriate control points where one might mediate to manage compliance and effective internal controls
- Robust knowledge of and experience with FINRA, MSRB and SEC rules
- Experience coordinating broker-dealer regulatory exams and responses
Bonus Points if you:
- Have either been a CCO or the number two compliance professional for a SEC registered and FINRA member broker-dealer
- Are familiar with operations of broker-dealers subject to 15c3-3
- Possess a genuine love for compliance
To apply, please send your resume and cover letter to email@example.com.
Siebert Williams Shank & Co., LLC is an Equal Opportunity Employer: EOE/M/F/V/D.