PRIMARY PURPOSE OF THE POSITION
The primary purpose of this position within Firm Wide Compliance is to provide direction and leadership to multiple business units in maintaining and enhancing their respective compliance programs and to lead business unit and firm-wide projects to improve compliance processes/programs. The nature and scope of Firm Wide Compliance responsibilities encompass all entities and products at T. Rowe Price. This position ensures sufficiency of the overall compliance program in preventing violations of regulatory rules, contractual agreements and TRP policies and procedures.
1. Compliance Programs – Provides direction and acts as a subject matter expert for the senior managers who work as Business Unit Compliance Coordinators in monitoring and enhancing compliance programs for Investments. Position works with business units to identify areas of program improvement, problem resolution, and to work on follow-up requests as needed. May provide customized work plans, documentation templates, detailed compliance risk assessments, and support in development of policies and procedures. This role is typically assigned to handle highly complex situations, issues that may ultimately have firm-wide impact or sensitive issues that require advanced negotiation/conflict resolution skills. Further, this role is expected to be proactive in identifying issues and be able to easily shift priorities as needed to meet business needs. In conjunction with the Senior Compliance Manager, acts as a consultant to the Business Units by proactively supporting the development, maintenance and continued enhancement of their compliance programs, problem solving, and providing guidance.
2. Lead Compliance Projects – Under the direction of the Senior Compliance Manager, this position acts as the lead on projects driven by the needs of the business units or the Chief Compliance Officer (“CCO”). Projects are often firm-wide in nature as they impact the majority of business units and, depending on project, may last over several quarters. This includes creating the project plan, implementation of solution(s), and conducting post-implementation analysis. The position will coordinate resources from the Compliance Department, Business Units, and outside parties to accomplish project goals, manage the project team, and follow-up on project deadlines. Further, projects may be focused on compliance areas new to the firm or in areas where there is a low level of expertise, thus increasing the level of project complexity and requiring the incumbent to be resourceful and creative in their problem solving approaches. For example, the position may manage the firm-wide policy and procedure system, lead third party process reviews, or handle other critical/new projects.
3. Risk Based Testing– Will conduct enterprise wide testing of policies and procedures. These tests are mandated by the SEC via rules 38a-1 and 206(4)-7. The testing will ensure T. Rowe Price has policies and procedures in place, is following stated policies and procedures and will assess whether or not the policies and procedures are sufficient to accomplish their objectives. If they are not sufficient, the Senior Compliance Consultant will work with the policy and procedure owners to identify the areas of concern, offer recommendations and manage the follow up to ensure the areas of concern have been addressed in a timely manner. High risk areas will be reviewed with the goal of conducting testing that prepares the Business Units for the scrutiny likely to be encountered during an SEC exam. This position works with the Senior Compliance Manager to define the scope of these efforts and develop a testing plan for the area under review. Once defined, the incumbent will investigate the topic area, define concerns, conduct appropriate testing and develop recommendations in order to mitigate compliance risks.
4. Industry Issues – In consultation with legal team, recognize current industry compliance issues and research and analyzes impact on T. Rowe Price and assigned business units. Communicates relevant information to various business units which requires sound understanding of the business functions of all business units across T. Rowe Price.
T. Rowe Price is an Equal Opportunity Employer