Overview
This position is responsible for providing due diligence oversight of brokerage and managed account programs, certain investment offerings, 529 Plan providers, and 401k plan providers. Oversight includes model providers and certain SMA managers, as well as the managed account platform and the clearing and custody providers.
The role interfaces with Compliance, Legal, and TAM personnel, along with third-party vendors providing products and services through the organization’s BDIA services group.
Remote work is available within the US.
Responsibilities
- Conduct and maintain a due diligence program with coverage that includes model providers and certain SMA managers.
- Extend due diligence coverage to vendors used through BDIA services, including product providers, managed account platform providers, and clearing/custody providers.
- Organize pre- and post-due diligence meetings with Brokerage Operations, Surveillance, and Compliance to address questions and answers related to the managed account platform and clearing/custody providers.
- Perform both firm-level and investment management due diligence.
- May perform suitability analysis on trade recommendations provided to the organization by certain model providers for use in discretionary managed account programs.
- May support management of lists of SMA managers and mutual funds made available for use by advisors with their clients.
- Partner with key stakeholders in a collaborative manner.
- Identify and take action to correct compliance deficiencies.
- Apply knowledge to business practices, communications, or procedures to draw conclusions and recommend appropriate action.
Required Qualifications
- Bachelor’s degree or significantly relevant and substantial work experience.
- 3–10 years of directly related experience conducting due diligence on financial services firms.
- In-depth knowledge of applicable laws and regulations, regulatory requirements, and industry best practices.
- Investment research experience preferred.
- FINRA SIE, Series 7, and 24 required or obtained within 90 days of hire/transfer.
Preferred Qualifications
- Investment research experience.
Compensation & Benefits
Pay transparency: For this full-time role, the applicable salary range is $89,895.00 - $121,621.00 per year, based on various geographic regions. The base pay offered will be determined by factors including, but not limited to, location, relevant experience, skills, and knowledge, business needs, market demand, and other factors.
The following benefits may be offered (eligibility subject to applicable plan/policy documents; plans/policies may change at any time):
- Various bonuses (including annual or long-term incentives)
- Medical, dental, and vision insurance
- Health savings account
- Flexible spending account
- 401k and pension
- Life and accidental death and dismemberment insurance
- Disability insurance
- Supplemental protection insurance
- 20 days of Paid Time Off each year
- Sick and Safe Time
- 10 paid company holidays
- Volunteer Time Off
- Paid parental leave
- EAP and well-being benefits
- Other employee benefits
Location
Remote within the US.