Position Summary:The Investment Compliance function is responsible for ensuring adherence to regulatory, prospectus, client-directed, and internal investment restrictions across portfolios managed by Harris Associates. The function partners closely with the firm's investment, trading, portfolio implementation, operations, and other business teams to interpret investment requirements, implement effective compliance controls, identify and resolve compliance issues, and continuously enhance the firm's investment compliance program.
The Senior Compliance Officer, Investment Compliance, reporting to the Head of Investment Compliance, plays a critical role in maintaining and enhancing the firm's investment compliance framework. The Senior Compliance Officer will interpret complex investment guidelines and regulatory requirements and translate them into effective automated rules and documented manual controls; serve as a subject-matter expert for the Charles River Investment Management System (CRIMS); perform post-trade surveillance and forensic testing; and investigate and resolve complex investment compliance matters. The role will also lead efforts to improve the efficiency and effectiveness of the investment compliance program through automation, standardization, and improved system design. Success in this role requires intellectual curiosity, sound judgment, strong analytical capabilities, collaboration, and a commitment to delivering practical, high-quality compliance solutions.
Responsibilities may include but are not limited to:- Review and interpret account governing documents, including investment management agreements, prospectuses, Statements of Additional Information, and client investment guidelines, to identify investment restrictions and monitoring requirements.
- Interpret client guidelines and regulatory requirements and translate them into effective automated compliance rules and documented manual controls.
- Support the onboarding of new accounts and implementation of new or amended investment guidelines, including identifying monitoring requirements, developing and testing controls, and coordinating implementation with relevant stakeholders.
- Serve as a subject-matter expert for CRIMS, including creating, testing, documenting, maintaining, and enhancing investment compliance rules involving complex or conditional logic.
- Maintain the accuracy and completeness of client portfolio guidelines, restriction lists, and related controls within investment compliance systems.
- Perform trade compliance monitoring, including reviewing alerts, trade overrides, potential breaches, and other exceptions, and coordinate timely investigation, escalation, documentation, and resolution.
- Investigate and resolve complex investment compliance matters by analyzing investment guidelines, portfolio holdings, benchmark data, security master information, and system outputs to identify root causes, assess potential regulatory or client impacts, and recommend appropriate remediation.
- Support Portfolio Implementation and Trading in addressing compliance-related inquiries from internal stakeholders and clients.
- Partner with investment, trading, operations, technology, and other teams to translate business and regulatory requirements into effective compliance solutions.
- Lead initiatives to strengthen and streamline investment compliance processes through automation, standardization, and improved system design.
- Participate in system implementations, upgrades, and enhancements affecting investment compliance, including requirements definition, user acceptance and regression testing, and validation of compliance rules and data.
- Assist with forensic testing of trading practices, including allocations, trade corrections, and cross trades, and identify potential regulatory concerns such as cherry-picking, portfolio pumping, and window dressing.
- Contribute to the review and enhancement of investment compliance and trading-related policies, procedures, and controls.
- Complete periodic client certifications, questionnaires, due diligence requests, and other monthly, quarterly, and annual compliance deliverables.
QualificationsRequired- Bachelor's degree and 10+ years of relevant investment management experience, including experience with U.S. registered funds and separately managed accounts.
- Significant hands-on experience interpreting investment guidelines and designing, implementing, testing, and maintaining compliance rules in Charles River or a comparable automated investment compliance platform.
- Thorough understanding of the trade order lifecycle and pre- and post-trade compliance monitoring.
- Knowledge of U.S. investment management regulation, including the Investment Advisers Act of 1940 and Investment Company Act of 1940.
- Strong analytical and data-management skills, including proficiency in Excel and experience analyzing portfolio, transaction, and compliance data.
- Excellent organizational skills and demonstrated ability to manage competing priorities in a deadline-driven environment.
- Sound judgment, integrity, and professionalism, with the ability to navigate complex issues, incomplete information, and competing regulatory or business considerations.
- Excellent written and verbal communication skills, with the ability to explain complex compliance matters clearly and provide practical, well-supported recommendations.
- Collaborative, solutions-oriented approach, with the ability to challenge assumptions constructively and work effectively across Compliance, Investments, Trading, Operations, Technology, and other business functions.
- Self-motivated, accountable, and detail-oriented, with a commitment to continuous improvement and team success.
- Demonstrated ability to lead cross-functional projects and drive complex compliance, technology, and process-improvement initiatives through implementation
Preferred- Familiarity with additional regulatory frameworks applicable to investment management and trading, including ERISA, UCITS, the Securities Acts, CFTC requirements, and FINRA rules.
- Experience analyzing large portfolio, transaction, and compliance datasets; familiarity with SQL, Power BI, or similar data analysis and visualization tools.
Special requirements:- May be required to provide occasional after-hours support related to overnight compliance processing and to be accessible by email or phone outside standard business hours, as needed.
- This position is based in Chicago and requires regular in-office attendance given the role's close day-to-day partnership with the firm's investment, trading, operations, and other business teams.
We offer a comprehensive benefits package designed to integrate life and work and to support our employees and their families. Benefits include, but are not limited to; medical, prescription drug, dental and vision insurance, paid time off, profit sharing plan, 401k plan, tuition reimbursement, commuter and holistic wellness benefits along with volunteer programs.
Actual annual base salaries may vary based on factors including but not limited to education, training, experience, and other job-related factors. If hired, base pay will be determined on an individualized basis and is only one part of the total compensation package, which, depending on the position, may also include a discretionary performance bonus and other Harris sponsored benefit programs.
Expected range for this Chicago-based role
$155,000-$175,000 USD
