SUMMARY
The AVP, Fund Compliance coordinates daily, monthly, and quarterly compliance workflows, including the implementation, monitoring, and testing of new and existing policies and procedures, as well as the maintenance of regulatory records for Ultimus Fund Solutions (UFS) clients.
KEY ACCOUNTABILITIES
FINANCIAL COMPLIANCE
- Monitors fund compliance on a daily and monthly basis with consideration of investment detailed Prospectus, Statement of Additional Information, and Investment Company Act of 1940.
- Monitors fund compliance with consideration to the quarterly and annual requirements of the Internal Revenue Code for qualifications as a regulated investment company.
- Performs reviews of a subset of quarterly compliance reporting prepared by compliance associates.
- Reviews the investment restrictions detailed in Prospectus and Statement of Additional Information to maintain up to date compliance checklists for new fund launches and existing clients.
- Codes newly launched funds into the compliance system and performs ongoing testing of existing client funds functionality on compliance system.
- Ensures compliance testing programs keep pace with market and regulatory evolution.
- Provides advice and training on rules and regulations as it pertains to portfolio compliance under SEC, IRS, and internal regulations to clients and applicable personnel.
REGULATORY REPORTING
- Coordinates efforts with the Financial Administration team for the development of regulatory compliance for reporting to clients, regulatory agencies, Board of Directors, and Financial Officers.
MANAGEMENT AND DEVELOPMENT
- Assists in the development and maintenance of departmental procedures.
FUND AUDITS
- Maintains, updates, and implements audit controls, as necessary.
PERSONNEL MANAGEMENT
- Manages associates within department including, but not limited to, hiring, training, and developing associates, delegating work assignments, writing, and conducting performance appraisals, salary recommendations, coaching and counseling, and administering corrective actions.
- Conducts one-on-one and team meetings with associates on a regular basis to discuss new procedures, problems, and issues.
- Establishes team and individual goals for department.
- Fosters performance of associates and the processes used by them; holds the associates accountable for their work.
WORKING RELATIONSHIPS
- Acts as a liaison between UFS and external audit firms and regulatory agencies.
- Mentors associates through instruction, coaching, providing real-time on-the-job experiences, modeling effective practices, and advising on methods used, as well as cross-training amongst departments.
- Contact with Fund Accounting, Financial Administration, Relationship Management, and Legal departments regarding financial compliance activities.
- Contact as needed with regulatory agencies and audit firms regarding general information, resolution of issues and inquiries or reporting requirements.
May perform other duties as required and assigned.
EDUCATION AND EXPERIENCE
- Bachelor's degree in business administration, finance, or related field.
- 7+ years of regulatory compliance experience.
- Experience working within the financial services and mutual funds industry.
- Experience working with SEC regulators.
- 3-5 years of management and leadership experience.
- Equivalent education and experience will be considered.
KNOWLEDGE
- Automated post-trade compliance system coding.
- Investment Company Act of 1940.
- SEC and IRS regulations.
- Microsoft Office Suite.
- Adobe Acrobat.
SKILLS AND ABILITIES
- Aligns associates with company values and goals.
- Plans and delegates the work of others.
- Motivates and inspires others.
- Assesses the performance of self and associates to make improvements or take corrective action.
- Plans and develops systems and procedures to improve operating quality and efficiency of department in accordance with company policies and procedures.
- Troubleshoots issues utilizing creative and critical thinking skills.
- Multitasking, analytical, and organizational skills.
- Initiative-taking, strategic, and meticulous approaches with a strong commitment to quality, efficiency, and effectiveness.
- Demonstrates personal integrity, responsibility, and accountability.
- Effectively uses resources such as time and information in conjunction with associates.
- Participates in solving problems and making decisions.
- Presents and expresses ideas and information, written and oral, clearly, and concisely.
- Actively listens to others to achieve understanding and supports an open exchange of ideas and information.
- Identifies needs, arranges for, and obtains resources to accomplish individual and department goals.
- Establishes and develops effective working relationships with associates and clientele during both favorable and unfavorable situations.
- Modifies team and individual priorities and deadlines in response to added information, changing conditions, or unexpected obstacles and ensures completion.
