Job DescriptionThis job may be filled at any of the levels listed below.Compliance Officer-Min: $116,120.57/yr. Max: $150,944.30/yr.
Sr. Compliance Officer- Min: $130,044.69/yr. Max: $169,065.57/yr.
POSITION SUMMARYThe Compliance Officer - Investments assists the Chief Compliance Officer - Investments in developing, implementing, and monitoring the investment compliance program for Utah Retirement Systems (URS).
ESSENTIAL JOB FUNCTIONS AND DUTIES- Monitors the compliance of existing equity, fixed income, private equity, real assets, and absolute return managers with URS policies, applicable laws, and advisor agreements.
- This includes monitoring of derivative usage, currency exposure, fixed income duration and quality, portfolio concentration, portfolio risk, and other specific portfolio characteristics and attributes.
- Completes review of due diligence documentation for new investments.
- Assists with oversight of trading for internally managed funds.
- Assists with oversight of proxy voting for URS.
- Assists in the administration of the URS Ethics Policy. Provides training to fiduciary staff employees. Researches and responds to staff questions related to the Ethics Policy. Monitors trading activity of fiduciary staff and maintains trade disclosure records. Maintains the restricted trading list for URS.
- Assists in the development and review of compliance and investment policies and procedures. Recommends appropriate changes to advisor contracts and URS investment policies. As required, presents changes to the investment committee.
- Participates in regular reviews of the URS retirement planning and investment advice program.
- Monitors evolving issues with regulatory agencies and reviews the adequacy of controls to ensure compliance with applicable regulations. Responds to certification requests from investment managers and regulators.
- Monitors risk and performance at the manager and portfolio level. Identifies and resolves any areas of significant concern.
- Monitors defined contribution pooled and target date funds to ensure they are within allowable ranges or rebalanced if necessary.
- Monitors implementation of the URS rebalance policy to ensure that asset classes and subclasses are within allowable ranges or rebalanced if necessary. Reviews monthly asset allocation and variance reports presented to the Retirement Board. Independently calculates and verifies data in the monthly variance report.
- Completes required divestment reporting and notifications to the Utah Legislature and impacted investment managers.
- Ensures tasks are completed with close attention to detail.
- Maintains regular and reliable attendance.
- Maintains strict confidentiality.
- Performs other duties as assigned.
Required ExperienceCompliance officerBachelor's degree in finance, accounting, business, or related field and three (3) years of responsible experience with investment compliance systems, finance, accounting, analysis, auditing, or related duties; or an equivalent combination of education and experience.
Specific experience in investment compliance at a public pension plan with defined benefit and defined contribution programs, oversight of alternative investments, securities regulations and filings, and institutional investing, or investment auditing is preferred.
Preference will be given to those with an advanced degree.
Credentials such as a Chartered Financial Analyst, Certified Securities Compliance Professional, or Certified Public Accountant are preferred.
Senior Compliance Officer Bachelor's degree in finance, accounting, business, or related field and five (5) years of responsible experience with investment compliance systems, finance, accounting, analysis, auditing, or related duties; or an equivalent combination of education and experience.
Specific experience in investment compliance at a public pension plan with defined benefit and defined contribution programs, oversight of alternative investments, securities regulations and filings, and institutional investing, or investment auditing is preferred.
Preference will be given to those with an advanced degree.
Credentials such as a Chartered Financial Analyst, Certified Securities Compliance Professional, or Certified Public Accountant are preferred.
Knowledge, Skills, and Abilities
This list contains knowledge, skills, and abilities that are typically associated with the job. It is not all-inclusive and may vary from position to position:
Required technical skills include the working knowledge and ability of:
- Microsoft Office Suite, with extensive knowledge of Excel.
- Automate tasks using VBA for Excel.
- Implement and update compliance software.
- Statistical and database applications.
- Analytical tools used to measure portfolio attributes.
Required mathematical skills include knowledge of:
- Mathematical concepts such as probability, correlation, statistics, and basic algebra.
Must possess working knowledge of:
- Financial markets and the economy; and investment concepts and practices.
- Equity, fixed income, private equity, real assets, and absolute return strategies; derivative usage, currency exposure, fixed income duration and quality, portfolio volatility, portfolio risk, and other specific portfolio characteristics and attributes.
- Compliance with investment policies, applicable laws, regulations, style mandates, advisor agreements, and corrective actions for non-compliance.
- Principles and practices of institutional investment management.
Must possess excellent communication skills:
- Communicate effectively in writing and verbally.
- Prepare technical reports and present on findings.
- Develop and deliver presentations to various groups.
- Develop complex investment policies and procedures and communicate them to various audiences including the Retirement Board.
Must have the ability to:
- Problem solve and analyze a variety of issues and problems.
- Make recommendations, establish a plan of action, execute according to plan.
- Monitor evolving issues with the SEC and review the adequacy of controls to ensure compliance with applicable regulations.
- Follow written and verbal instructions.
- Perform within deadlines.
- Work well in a team environment as well as independently.
- Establish and maintain strong working relationships with colleagues and industry professionals.
- Multi-task by handling a variety of duties in a timely and efficient manner.
- Prioritize work and follow through with assignments.
- Deal effectively with stress caused by workload and time deadlines.
The incumbent must always demonstrate judgment, high integrity, and personal values consistent with the values of URS.
Additional Requirements
As a requirement of this position, the employee will submit to the Chief Compliance Officer a record of trade confirmations or monthly transaction summaries, as they become available, of all security transactions (excluding mutual funds), in any account under the employee's control and direction, or under the control and direction of the employee's spouse.
Job duties require occasional travel for office business. Individual must be physically capable of safely operating a vehicle, possess a valid license and have an acceptable driving record based upon data provided by a current Department of Motor Vehicle Record (MVR).
Work Environment
Incumbent performs in a typical office setting with appropriate climate controls. Tasks require a variety of physical activities which do not generally involve muscular strain, but do require activities related to walking, standing, stooping, sitting, reaching, talking, hearing, and seeing. Common eye, hand, finger dexterity required to perform essential functions.
