Senior SMA Compliance Examiner Investment Management

POSITION SPECIFICATIONS:

• Bachelor's degree or equivalent level of related experience which includes experience with financial services organizations in compliance, fund accounting, legal, audit or similar environment. Degree in accounting, finance, or business preferred.
• Professional certification (e.g., auditor, paralegal) preferred.
• Minimum 5 years of business experience plus 1 year of investment adviser compliance.
• Knowledge of municipal securities and securities markets, familiarity Investment Advisers Act of 1940, and other SEC regulations.
• Thorough understanding of investment advisory process/regulations.
• Possess or have the ability to take and pass the following securities related examinations 7, 24, 65/66.
• Proficiency with Windows/PC operating system and Microsoft Word and Excel.

MAJOR DUTIES:

Assist in the implementation of the Federated Hermes compliance program as it relates to broker-dealer wrap, or "SMA", advisory business for the Federated Hermes affiliated investment advisers. Focus on portfolio monitoring and testing, as well as overall compliance with Federated Hermes policies and procedures and federal securities regulation. Assist in the implementation of the Federated Hermes Compliance program by monitoring individual portfolios and transactions; client onboarding, other compliance monitoring, designing, drafting, and implementing policies and procedures as necessary, and training staff on Federated Hermes compliance requirements. The position will also participate in drafting disclosures and monitoring contract templates.

• Analyze and interpret client investment guidelines to create compliance rules on the trade order management systems.
• Oversee, implement, and monitor the trade order management systems for portfolio compliance with these rules.
• Oversee, implement, and monitor guardrails within the trade order management system to ensure equitable allocation and trading practices across portfolios and adherence to client requests.
• Review client account performance outliers; review tax loss trading strategies.
• Oversee the SMA client onboarding process, including AML reviews, when required.
• Manage and oversee MNPI compliance monitoring; oversee client contract templates from a compliance perspective.
• Review and amend written policies and procedures as necessary to ensure policies and procedures meet current regulatory requirements and reflect current business practices.
• Oversee compliance with custody rule requirements, including appropriate contractual language, recordkeeping, training and outreach.
• Assist in regulatory examinations.
• Approve gift and entertainment activity.
• Assist in the administration and enforcement of the Code of Ethics for Access Persons.
• Conduct electronic communication surveillance.
• Participate on the "Management Account Legal and Compliance Working Group" to ensure consistent communication and compliance response to SMA business developments.
• Participate on various risk and governance committees, including the GIPS Compliance Committee, the Vendor Management Committee, and the Best Execution Committee.
• Conduct compliance training for Investment Management and Investment Operations teams in the Chicago office.
• Gather data and oversee trade error remediation for SMA accounts.
• Oversee Credit process to ensure adherence to internal policies and procedures.
• Assist in data governance controls for the Chicago office.
• Manage books and records for the Chicago office.
• Participate in group meetings and projects with other compliance officers and examiners and act as Compliance liaison to the Chicago office.
• Assist Legal and Audit staff for special projects as assigned.
• Maintain professional competence through a review of current regulatory and mutual fund industry literature and by attending relevant seminars, conferences, and training sessions.
• Conduct compliance monitoring of portfolios, electronic communications, client onboarding, and other client processes. Conduct reviews of policies and procedures relating to certain investment advisory functions, assessing weaknesses, identifying risks, recommending appropriate resolutions, and working with the business units to resolve any deficiencies. Deficiencies and recommendations or resolutions are reported to a Compliance Officer.
• Interpret and apply regulatory and contractual language to automated systems.
• Apply judgment in the remediation of trade errors or other trading issues in a timely manner.
• This position must demonstrate strong decision making, problem solving, time management, and analytical skills with particular attention given to detail and accuracy.

HOURS/LOCATION:

• 7:30 a.m. - 5:00 p.m. CST (overtime as required)
• Location - Chicago, IL 60654 (hybrid work schedule)

EXPLANATORY COMMENTS:

• Strong time management and organizational skills; able to work independently and prioritize work effectively.
• Must be process-oriented and have a high level of attention to detail.
• Excellent oral and written communication skills to communicate effectively with internal clients
• Discretion in working with sensitive or confidential information.
• Exceptional interpersonal skills in order to work with clients and all levels of staff individually or as part of a team.

The annual base salary range for this position is $72,240 - $130,000. In determining salary multiple factors will be taken into consideration such as primary work location, experience, education and skill set. In addition to base salary, this position includes eligibility for a bonus.

We offer our Employees (and, as applicable, their dependents) medical, dental, prescription, vision, and basic life insurance benefits. Additionally, Employees are eligible to enroll in our company's 401(k) plan. Each calendar year employees are eligible for paid leave which includes fifteen vacation days, seven ill days, and ten holidays. For more information, please click the following Link: Careers