The L&R CCO is responsible for overseeing all ongoing activities related to the development, implementation and maintenance of L&R's compliance program and helping to ensure firm compliance with applicable rules and regulations as well as corporate policies.
This person will report directly to the firm's Chief Compliance Officer and matrix into L&R's General Counsel.
The responsibilities of the L&R CCO will include the following:
- Develop, document and maintain a Division-wide compliance program that includes risk assessments, development and maintenance of applicable policies, procedures, and guidelines and monitoring, testing and reporting protocols that are appropriately tailored to prevent, detect and correct specific compliance risks for the Division.
- Develop and maintain effective controls designed to monitor the effectiveness of the Division's compliance program. Ensure and support adequate review of the appropriateness of the compliance system and procedures and implement necessary remediation for any identified deficiencies.
- Oversee the compliance-related operational risk assessment program which supports the enterprise risk management program. Review the results of that process and ensure the accuracy of data submitted.
- Develop, document and implement an annual compliance training program on compliance topics relevant to the Division to enhance employees' knowledge and understanding of compliance policies and procedures, relevant laws, regulations and standards of good business.
- Maintain in-depth knowledge of the business and its activities in order to ensure adequate compliance oversight and resources as the business needs evolve over time; advise the Division on emerging compliance issues.
- Maintain a strong presence in the business to promote an environment where individual staff will seek compliance guidance when they have questions. Provide guidance to management, staff and compliance officers on corporate and business compliance standards.
- Hire and train qualified local compliance officers and other professional staff that have the requisite knowledge, experience and personal qualities to be able to carry out their duties effectively. Ensure that compliance officers possess a sound understanding of relevant laws, regulations, rules, standards, internal guidelines and Code of Conduct and their practical impact on the business operations.
- Periodic reporting to senior management, boards of directors and other Company stakeholders.
- Escalate compliance issues and potential violations of compliance policies and procedures, laws, regulations and standards of good business to the firm's Chief Compliance Officer and L&R's General Counsel, as appropriate.
The ideal person for this role should have senior managerial experience and knowledge in managing a compliance department, including maintaining policies and procedures; overseeing compliance risk assessment processes, implementing compliance training programs, and remediating and monitoring potential violations of policy or law.
Candidates will be expected to possess the following professional and personal attributes:
• A strong education including an undergraduate degree; graduate degrees in relevant areas of study preferred. Law degree or MBA. Minimum of 10 years of relevant experience with prior experience in development of a company-wide compliance program.
• Significant knowledge and understanding of life insurance compliance and regulatory issues, including variable and fixed annuities, mortality based insurance, insurance products, group benefit products and institutional products.
• Knowledge and understanding of applicable securities rules and regulations including the 1940 Act, SEC Rule 38a-1 and FINRA rules and regulations.
• Experience with global legal and regulatory compliance frameworks.
• Demonstrated ability to influence and work effectively within a highly-matrixed organization with employees at all levels.
• Self-starter with the ability to meet or exceed deadlines, prioritize, multi-task, and maintain flexibility in fast-paced, changing environment.
• Ability to confront conflict and difficult issues in a professional, assertive and proactive manner.
• Ability to travel to the business operation to meet with local compliance officers and oversee the effectiveness of local compliance programs.
• Strong problem-solving and project management skills.
• Excellent organizational, written, verbal and presentation skills.
TO APPLY PLEASE SUBMIT YOUR RESUME TO JACK KELLY - JKELLY@COMPLIANCESEARCH.COM