Director, Compliance
Position Description
Fidelity's Institutional Compliance group (FI) provides compliance services to Fidelity's institutional businesses, including Fidelity Institutional Wealth Services (IWS), National Financial (NF), Operations and Services group (OSG), Fidelity Family Office Services (FFOS) and Fidelity Capital Markets (FCM).
The Director of Regulatory Response will be the primary interface between Fidelity Institutional and the SEC, FINRA and other regulators. The Director will utilize -- (i) expert technical advice in crafting responses to regulatory inquiries, (ii) excellent interfacing and negotiating skills in connection with the management of regulatory exams, and (iii) outstanding administrative skills and attention to detail to develop reporting and tracking systems relating to regulatory inquiries, incidents and rulemaking. The Director will have superior writing and verbal communication skills. The Director will have a firm grasp of a broad range of subject matter relating to FI's business, including Corrrespondent, IWS and FCM (Equity Sales and Trading, Fixed Income Sales and Trading, Syndicate, Prime Services and Securities Finance).
The regulatory scrutiny is intense, and the associated risks very substantial. The subject matter is very complex, both from a business and regulatory perspective. The Director should utilize established external relationships, including peer organizations and industry associates, in order to learn of trends regarding regulatory inquiries and best practices relating to regulatory responses.
Position Responsibilities
- Draft responses to regulatory inquiries and sweeps and certain disciplinary actions
- Manage regulatory exams and draft responses relating to findings on exams.
- Assist the legal department with litigation and regulator investigations.
- Forge close working relationships with Compliance Officers supporting the FCM trading desks.
- Develop strong ties with business partners across FI, particularly operational groups which function as repositories for data required for regulatory responses.
- Stay abreast of all regulatory developments relating to FI's business.
- Conduct high level, broad, risk analysis through tracking of regulatory inquiries and incidents.
- Develop reporting for management relating to regulatory inquiries.
- Develop reporting with respect to new and proposed rules.
Education and Experience:
- 7 or more years of experience in securities, broker/dealer, compliance/legal or regulatory organization
- Ability to meet deadlines (internal and external)
- Sound judgment regarding need to escalate issue and concerns.
- Ability to effectively prioritize day-to-day responsibilities and longer term projects in a fast-paced and challenging environment.
- High level of personal integrity and professionalism.
- Bachelor's Degree required, advanced degree preferred.
Skills and Knowledge:
- Broad knowledge of brokerage - trading, clearing, sales, products and operations, and applicable rules and regulations. (NYSE, FINRA, SEC, states)
- Product knowledge which may include equities, fixed income, mutual funds, 529 Plans, variable annuities, options, investment adviser products.
- Knowledge and understanding of Fidelity's operational systems, a plus.
- Strong interpersonal and influencing skills, including ability to interact effectively with peers, all levels of management and regulators.
- Strong verbal and written communications skills.
- Proven ability to identify, analyze and resolve problems.
- Sound time management skills
POSITION CAN BE BASED IN JERSEY CITY OR BOSTON
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