Broker-Dealer Compliance Coverage for Retail/Introducing Brokerage

Position Description:
State Street Markets Compliance is seeking an experienced compliance professional to assist the Chief Compliance Officer to satisfy the regulatory obligations of retail brokerage activities for RIA and retail customers. As State Street expands its retail wealth services offering, the Retail Broker-Dealer Compliance Officer will be responsible for ensuring that our retail brokerage operations comply with all applicable laws, regulations, and internal policies. This role involves monitoring and assessing compliance risks, developing and implementing compliance programs, and providing guidance to the business on compliance-related matters. The role must maintain and apply current knowledge of FINRA, NYSE, and SEC rules and regulations. The position is responsible for supporting the business teams in the implementation of all required policies and assist with the compliance oversight of the Broker-Dealer’s retail customer activities.

This role will support the build out of brokerage capabilities conducted out of SSGM, LLC, a registered Broker-Dealer. This position will advise internal stakeholders on implementation and development of SEC and FINRA requirements, including leading the development of relevant compliance program elements including policies and procedures, training, risk assessments, issues management, governance and management reporting, and assisting in the remediation of noncompliance matters.

The candidate should have experience with:
 

• Specialized compliance knowledge required for retail brokers offering retail services.
• Establishing and maintaining compliance policies, procedures, and controls based on regulations and in accordance with requirements and process flows.
• Providing compliance advisory support to business and operations as a subject matter expert.
• Strong knowledge of financial services products, markets, laws, rules and regulations.

Responsibilities Include:

The Retail Broker-Dealer Compliance Officer’s responsibilities include serving as a compliance expert for brokerage activities supporting retail client base, understanding business processes and risks. They will establish and maintain compliance policies, procedures, and controls based on regulations.

Implement and enhance the Compliance Oversight Program in alignment with division methodology addressing all relevant risks and corporate and local requirements.

Proactively engage with First Line of Defense, control functions (Risk, Legal, Audit and IT) and participate in and provide management oversight on the development of the Compliance Oversight Program in response to changes in regulatory obligations and industry standards and best practices.

Provide advice to firm’s Registered Representatives regarding applicable securities rules, regulations and firm policies.

Demonstrate excellent communication skills, both oral and written. Should have the ability and experience to draft clear and professional correspondence, policies and procedures and other documents of both legal and business nature.

Work with Chief Compliance Officer to ensure appropriate support as needed for any regulatory matters revolving around the firm's activities by investigating and resolving compliance issues, compiling data and drafting regulatory responses.
 

Staying abreast of relevant changes to rules/regulations and other industry news including regulatory findings.
 

Candidate Requirements:

• Bachelors Degree or Higher Required.
• Series 7 and 24 qualifications required (or the ability to retain within 6 months of hire)Minimum of 5 years’ experience in compliance, legal, risk control, or audit, specifically in retail

brokerage, wealth services or similar financial services areas

• Ability to understand the compliance issues involved with the State Street Markets’ retail brokerage operations
• Strong knowledge of FINRA and SEC rules and regulations
• Have an in-depth understanding of evaluating risk and compliance initiatives and determining regulatory compliance risks at a global financial institution
• Analytical/detail-oriented mindset and a good sense of judgment
• Experience managing regulatory exams/inquiries and relationships
• Self-motivated and able to prioritize workflow and work independently
• Knowledge of rules and regulations pertaining to banks or bank holding companies participating in capital markets
• Proficiency in Excel, PowerPoint, and Microsoft Office

Salary Range:

$110,000 - $177,500 Annual

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.