Senior Compliance Consultant - Retail Investment Advisor
PRIMARY PURPOSE OF THE POSITION
The primary purpose of this position is to provide direction and guidance for corporate entities as well as various business units in maintaining and enhancing their respective compliance programs. The position will also lead and support projects to improve compliance processes/programs. This will include influencing and guiding senior management on compliance initiatives. This position is instrumental in maintaining the 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 Chief Compliance Officers (CCOs) of the respective TRP entities, for this position that is T. Rowe Price Advisory Services, Inc. in monitoring and enhancing compliance programs for their respective entity. Additionally, position will provide direction and subject matter expertise for senior managers who work as Business Unit Compliance Coordinators in monitoring and enhancing compliance programs for their respective Business Unit. Position works with CCOs and 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 and influencing 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. Acts as a consultant to the entity CCOs as well as Business Units by proactively supporting the development, maintenance and continued enhancement of their compliance programs, problem solving, and providing guidance.
2. Lead Compliance Projects – 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 as well as influencing senior management and driving necessary changes.
3. Risk Based Testing– Will design, coordinate, lead and conduct enterprise wide testing of policies and procedures. 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 regulatory exams. This position defines the scope of these efforts and develops a testing plan for the area under review. Once defined, the incumbent will investigate the topic area, define concerns, conduct appropriate testing, develop recommendations and influence management 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.
- College degree and 4 years related work experience, or
- Associatedegree and 6 years related work experience, or
- High school diploma/equivalent and 8years related work experience.
- Knowledge of FINRA, SEC and other Regulatory and Self Regulatory Organizations rules and regulations
- Excellent interpersonal skills, to include strong influence skills, in interacting with a diverse group of internal and/or external contacts
- Excellent project management capabilities: establish project plans, deliver assignments on time and accountable for results
- Strong aptitude for technology
- Ability to develop and maintain good working relationships with members of various business units, regulatory agencies and other external contacts
- Ability to draft complex documents for the Chief Compliance Officer’s review
- Demonstrates willingness to assist others within the group to accomplish common objectives
- Exceptional creative thinking and problem solving skills
- Knowledge of MS Word, Excel, PowerPoint and Access
- Specific experience in the retailinvestment adviser industry
- Experience with a global financial institution with investment, trading and operational activities across multiple global locations
- Bachelor’s degree with 5 years experience in compliance, legal, or related field
- Knowledge of the investment management industry
- Accounting, project management or consulting experience
T. Rowe Price is an Equal Opportunity Employer