Compliance Officer
FORTAX Private Wealth Corp. is seeking a qualified Compliance Officer with former experience at an MFDA firm to join our team. We are wealth management specialists that strive to create unique, comprehensive, and efficient financial solutions for our clients. The FORTAX group offers Wealth Management, Tax, and Insurance services. We strive to make financial well-being a focus by channeling necessary resources into helping individuals increase their wealth- one person, one family, and one business at a time. We are looking for an individual passionate about raising the standard for financial management.
About the Role
As a newly registered mutual fund dealer, we are looking for a candidate seeking new challenges. The ideal candidate will be eager to assist in onboarding and recruiting new advisors. The Compliance Officer will provide ongoing support for new advisors as they learn the many benefits of working with FORTAX. In addition, this position will direct, manage, and oversee all corporate compliance programs while maintaining up-to-date awareness of emerging issues, regulations, standards, and best practices. Finally, the Compliance Officer will ensure that activities performed at FORTAX comply with all MFDA rules.
Responsibilities
In addition to the goals mentioned above, the responsibilities of the Compliance Officer include, but are not limited to:
- Maintain the National Registrations Database (NRD) and handle onboarding and/or terminating of Approved persons
- Proactively develop policies and procedures to maintain compliance with the latest MFDA regulatory requirements
- Keep all dealer policies up to date, supervise all transaction paperwork, and assure that the company and the advisors meet all compliance regulations
- Perform various time-sensitive tasks such as year-end audit inquiries and client complaint files
- Respond promptly to regulatory changes and advisor/client inquiries
- Review, update and approve new client applications to ensure compliance with regulatory requirements
- Oversee website and marketing material to ensure compliance
- Manage license renewals, annual questionnaires, and Outside Business Activities (OBA)
- Perform regulatory reviews, generate reports, and interact with regulators
- Perform internal and external risk assessments to ensure all relevant risks are appropriately identified, assessed, controlled, and monitored
- Assist with the review and analysis of organic operating procedures and provide recommendations accordingly
- Contribute to the development and effective implementation of policies, auditable procedures, controls, and relevant staff training
- Utilize legal advice to assist in creating simple guidelines to maintain compliance throughout various departments
- Assist with contract reviews and proof-read legal documents
- Onboard and oversee new advisor training
- Constantly create and facilitate appropriate business strategies as the markets, and the company evolve
- Reduce risk exposure by setting, managing, and supervising compliance of internal governance policies as well as managing the impact of external factors
Requirements
- 3+ years of previous experience in compliance and/or branch management
- Relevant experience at an MFDA firm
- Completion of Partners, Directors, and Senior Officers Qualifying Examination (CSI) or Mutual Fund Officers Partners and Directors Course (IFIC)
Knowledge, Abilities, and Skills
- Thorough knowledge of Mutual Funds and investment products along with their benefits
- Ability to act with thoughtfulness and good judgment while also maintaining confidentiality
- Maintain a friendly, confident, professional, and respectful demeanor
- Self-motivated with a drive to learn more about the current and future state of the financial industry.
- Detail-oriented with an ability to analyze, collect, and disseminate information
- Proven ability to successfully review and challenge business, client, and advisor risk management practices and outcomes with both an entrepreneurial and consumer experience mindset
- Ability to prioritize key deliverables, multi-task, and work well under pressure and deadlines