Chief Compliance Officer & Branch Manager
New York, NY
The Horizon Group is seeking a proven and seasoned compliance and securities professional to serve as both Chief Compliance Officer (CCO) and Branch Manager responsible for the delivery of compliance programs and the direct supervision of the assigned branch team for a dual-registered Broker-Dealer and Registered Investment Advisor client.
As the CCO, this person will be responsible for all matters relating to the compliance program, and will work closely with financial professionals, the management team, and key constituencies within Compliance, Legal, and Supervisory departments, as well as other departments as needed. As Branch Manager, this person will be responsible for the comprehensive supervision of all registered representatives and their transaction activities within the New York branch.
- Draft and maintain policies and procedures to ensure that broker-dealer and RIA compliance programs meet applicable laws and regulations and ensure that registered reps’ operations are conducted in compliance with applicable policies and procedures
- Responsible for the direct supervision of all NYC registered representatives who engage in direct business with customers
- Oversee compliance risk assessments and manage the department’s testing and monitoring program in accordance with regulatory expectations and best practices
- Review, revise, and test compliance programs in accordance with rule 3120/3130, and 206(4)-7 standards
- Responsible for working directly with the operations department to ensure the proper clearance and settlement of daily transactions and the correction of errors.
- Conduct thorough and ongoing supervision of all registered representatives, monitoring their compliance with regulatory requirements and firm policies.
- Follow the established supervisory controls and procedures in line with FINRA Rule 3110, ensuring that representatives act in the best interest of clients and adhere to the principles of suitability and Regulation Best Interest (Reg BI).
- Approve new customer accounts
- Review and approve overnight IB transaction allocation and IOIs
- Daily review client accounts and transaction activities to identify any irregularities, potential conflicts of interest, or deviations from standard practices.
- Ensure that all transaction and customer issues are resolved and reported to the CEO.
- Meticulously document evidence of the supervisory review process
- Maintain comprehensive customer and daily transaction records in accordance with SEC and state securities regulator rules, ensuring that all documentation is readily accessible for regulatory inspections.
- Train junior staff
- Approve wires when necessary
- Be a subject matter expert when dealing directly with financial professionals on a variety of compliance, regulatory and business/industry topics
- Provide recommendations to the business regarding the implementation of new rules and regulations
- Manage the compliance department
- Provide thought leadership and proactively collaborate with other departments and financial professionals as needed to ensure compliance reviews, issues and/or concerns are resolved
- Participate as a member of the management and compliance leadership team by providing input on strategic business planning, forecasting, and various company initiatives
- Develop and deliver internal training programs for employees and financial professionals across the enterprise, including firm element and annual compliance meeting
- Update and file the firm’s Form B/D and ADVs to ensure they are maintained and current
- Respond to regulatory inquiries, examinations, internal audits, and other reviews and requests
- Review and contribute to due diligence on products, programs, new hires, and acquisitions
- Conduct assessments, surveillance, and testing of compliance programs
- Partner with the legal and regulatory team to proactively analyze and manage changes to regulatory requirements
- Effectively consult with financial advisors, brokers, and investment banking teams at all levels of the organization
- Assist with the investigative process for escalated customer and representative compliance issues as necessary
- Series 7, 24, and either the 63 or 66. A Series 4, 53, and/or 79 would be a plus.
- A Bachelor's degree (B. A. / B.S.) from a four-year college or university; along with ten plus years related experience and/or training are required
- Significant (7-10 plus years) industry experience related to Broker/Dealers and Registered Investment Advisers
- 5+ years of leading people with ability to manage and effectively influence while providing advice and guidance.
- Thorough knowledge of the independent broker-dealer/adviser business from a product, corporate governance, compliance, and administrative perspective
- Broad exposure to key functional areas of product due diligence, recruiting and retention, and onboarding and integration of new reps, employees, independent contractors, OSJs, and acquisitions
- Strong knowledge of FINRA and SEC rules and regulations, including Regulation Best Interest, and the Investment Advisers Act of 1940
- Demonstrated experience with FINRA Rules 3120/3130, Advisers Act Rule 206(4)7 testing, conducting risk assessments, updating Form ADV, as well as drafting policies and procedures
- Exceptional analytical and investigative skills with capability to independently identify and analyze compliance issues
- Ability to work independently on strategic projects with minimal oversight
- Ability to build consensus among managers and employees across departments
- Excellent oral and written communication skills
- Exceptional presentation skills
- Strong critical thinking skills and ardent problem solver with a demonstrated ability to take initiative without direct tasking
- Experience developing and implementing compliance programs
- Must be able to adapt to working in a fast-paced, demanding environment
- Maintenance of discretion in handling confidential information
- Experience with My Compliance Office a plus.
- Excellent ability to interpret and communicate regulatory guidance
- Ability to read, analyze, and interpret regulatory disclosures, as well as general business periodicals, professional journals, technical procedures, or governmental regulations
- Comfortable with adopting new technologies, and proficient in Microsoft Office Suite (Word, Excel, Project, PowerPoint)