Fifth Third Bank, N.A. Compliance Director – Chief Compliance Officer for Registered Investment Advisors in Cincinnati, Ohio
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GENERAL FUNCTION: This position is responsible for ensuring policies and procedures for MainStreet Investment Advisors, Franklin Street Advisors, Retirement Corporation of America and Fifth Third Wealth Advisors (the Registered Investment Advisers) are designed specifically to prevent violation of the Investment Advisers Act of 1940 and other securities laws. The covered regulations include, but are not limited to, those of the Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency (OCC) and the Department of Labor (DOL). The incumbent will strive to ensure that the Registered Investment Advisers’ practices always meet requirements of government regulations; provide regularly scheduled updates to the Registered Investment Advisers’ Boards of Directors regarding the firms’ implementation of and adherence to all regulatory compliance requirements; and educate, update and train the Registered Investment Advisers’ staff in all requisite areas of regulatory compliance. This position is responsible for providing strategic leadership, direction and oversight regarding the Registered Investment Advisers’ compliance risk management programs, including the policies, risk assessment, monitoring, reporting, and control framework. The incumbent is responsible for analyzing current and emerging regulatory trends and proposing and implementing recommendations or system solutions to mitigate identified risks. The Compliance Director will be responsible for management of the related Compliance Managers and Compliance Officers, including ensuring compliance with Federal laws and regulations and industry standards. This position is also responsible for continued team member development, employee engagement and interfacing with partners in Compliance Risk Management for administrative and reporting purposes.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Direct, develop and oversee the strategic aspects of the Registered Investment Advisers’ compliance program. This includes overseeing policies and procedures, executing monitoring programs and providing employee training for the Registered Investment Advisers.
Build and execute a Registered Investment Adviser regulatory compliance monitoring program.
Responsible for the management and oversight of the Registered Investment Advisers’ compliance programs covering SEC, OCC and DOL laws and regulations.
Oversee and direct the execution of the Registered Investment Advisers’ compliance risk assessment for the compliance programs.
Manage the process of keeping the firms’ SEC registration documents (Form ADV) up to date.
Manage all other regulatory filings for the Registered Investment Advisers.
Serve as a key contact with SEC, OCC and DOL regulators for compliance exams.
Work with lines of business to identify policy and procedural enhancements. In reference to new products and new initiatives, work with the teams to ensure proper assessment of the risks, the planning of controls and the adequate execution of those controls.
Assess the adequacy of Registered Investment Advisers’ recommended corrective actions to the issues or gaps identified.
Develop and report findings to the Registered Investment Advisers’ Senior Management regarding compliance with regulations.
Provide periodic reports to senior management and Board committees on industry trends, state of the compliance programs and the status of key initiatives.
Provide compliance subject matter expertise and sponsorship for the lines of business and Bancorp projects, processes and products.
Actively promote a solution-oriented environment throughout the Compliance Department.
Develop and maintain relationships between Compliance Risk Management, management of the Registered Investment Advisers and the Wealth and Asset Management Division business leaders to ensure the implementation of effective compliance programs across the Bancorp and related lines of business.
Provide leadership, motivation, coaching and assessment to ensure optimum team and individual performance in support of department, division and Bancorp goals.
Maintain a cutting-edge awareness of company goals, regulatory and legislative developments and industry trends.
Conduct interviews and discussions with senior level managers to understand the Wealth and Asset Management business.
Work closely with Senior Leadership to set strategic direction for the department and execute on those goals and objectives.
Develop and maintain relationships with OCC regulators, facilitate discussions and demonstrate strategic leadership regarding the program and future initiatives.
Maintain networks with industry working groups that are dedicated to Registered Investment Adviser compliance to benchmark and share best practices.
Participate and/or lead regular meetings with peers to build and maintain knowledge of current and emerging issues and risks in the environment.
- Manage staffing of the Compliance teams to ensure optimal performance in meeting the Compliance Department’s goals and objectives by providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential and providing challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
Education: Bachelor's degree or equivalent work experience required; Master’s degree or law degree a plus.
15+ years’ experience in compliance or auditing with a Registered Investment Adviser or equivalent experience at a regulatory agency.
Comprehensive knowledge of SEC regulations (especially Investment Advisers Act), applicable Federal and State Regulations, as well as banking laws and processes.
Strong customer service orientation.
Outstanding verbal and written communication skills.
Strong organizational and execution skills.
Ability to effectively interact and communicate with all levels of staff, including internal executive-level leadership, outside Directors, senior-level business partners, peer colleagues and junior members of the Bancorp.
Strong leadership and collaboration skills.
Strong analytical skills required to gather, assess and present quantitative and qualitative data.
Competency to develop and support conclusions and make practical recommendations to the business line. Ability to develop and implement controlled, systematic step-by-step processes based on guidance and procedures.
Ability to work and independently lead teams to plan and accomplish a project or elements of a project (complexity of project scope to depend on seniority), identifying responsibilities, tasks, deadlines and executing/overseeing their timely completion.
Capability to lead a team, to identify and solve problems or resolve issues, including members from other units as needed, such as the Legal Department, Audit Department or Business Unit.
Possesses ability to maintain professional composure in a dynamic work environment that often requires the management of multiple and competing priorities.
Demonstrates willingness to be a contributing and engaged member of team by sharing knowledge, working towards common goals and maintaining a positive attitude. Capable of establishing effective work relationships with peers and credibility with superiors and customers.
Establishes, fosters and maintains working relationships with peers and supervisory management within the Division, business lines and Information Technology support.
Adheres fully to Fifth Third's Core Values of Integrity, Teamwork and Collaboration, Respect and Inclusion, and Accountability.
Compliance Director – Chief Compliance Officer for Registered Investment Advisors
LOCATION -- Cincinnati, Ohio 45202
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
Fifth Third Bank, National Association is one of the top-performing banks in the country, with a history that spans more than 150 years. We’ve staked our claim on looking at things differently to make banking a Fifth Third better. This applies to our relationships with customers and employees alike.We employ about 18,000 people while offering:• A chance for employees to build their future, with supportive career development and comprehensive health and financial wellness programs.• An environment where we win together by celebrating achievements and working collaboratively.• An opportunity to make a difference in a positive and lasting way. Everything we do is geared toward improving lives.We’re proud that Fifth Third is a warm and caring place to grow – as a customer and as a team member.