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Designated Supervisor/Financial Compliance Officer

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Washington D.C., DC, USA

Full Time

About the Role

The Designated Supervisor role oversees all supervision activities of their designated IARS (Investment Advisor Representatives) and RRs (Registered Representatives) of the client. You will provide supervision and guidance to your assigned group of IARS/RRS on the firm's WSPs (Written Supervisory Procedures) and SCPS (Supervisory Control Procedures) in line with SEC Code and FINRA's Rule 3110 & 3120.


Essential Responsibilities
- Provide direct supervision of investment advisory and broker-dealer activities over your
designated representatives:
- Review and manage your representatives’ trade blotters.
• Review list of exceptions and determine violation(s)
• Contact Representative to request additional background and context
• Prepare and determine appropriate response to Representative
• Ensure documentation of final resolution for all exceptions;
a. suitable representative response
b. end-client updates their account, or
c. financial suitability, or back out of the trade(s)
- Review and ensure their Reg-BI reviews have been completed.
- Confirm they are appropriately registered and licensed for the business they are
conducting.
- Handle their calls and inquiries on supervisory and policy related matters.
- Review initial OBA (Outside Business Activity), PSA (Personal Securities Account), and PST (Private Securities Transactions) requests, and forward onto Director of Supervision for further review.
- Perform ongoing supervision over their Compliance approved OBAs, PSAs, and PSTs accordingly.
- Execute daily review and principal approvals for the following advisory and broker-dealer
activities:
- New client agreement and account documentation to ensure completion and
adherence with applicable suitability and/or best interest requirements for the
following business types:
• Advisory accounts
• Brokerage accounts
• Annuities
• Alternative Investment Placements
• Retirement Plans
• College Savings Plans
• Other Check & App accounts
- Participate and/or contribute to the objectives of the New Business & Risk Committees, such as research, ideas, feedback, and recommendations on firms’ processes, business development, and operations.
- Partner with Compliance, as guided by the Director, to implement and supervise policies, procedures, and related control functions.
- Work with other Supervisors to confirm consistency on suitability rules and alerts within the workflow system.
- Report to Director any regulatory violations, sales practice inconsistencies and/or violation of the firm’s WSPs and SCPs.

Other Duties
- Attend and participate in weekly supervisory meetings and Committee meetings (as scheduled).
- Support the Director in ongoing training and development functions of the firm.
- Prepare reports and audits as requested from the Director.
- Work with Director, as needed, to ensure Operations workflow is in compliance with the firm’s policies.
- Perform additional supervisory and compliance functions as needed.

Requirements

Knowledge and Skills 

  • Knowledge of SEC and FINRA regulations. 

  • Knowledge of securities products and offerings, including insurance products. Knowledge of ERISA plan offerings. 

  • Strong oral and written communication skills. 

  • Works well in a team environment, and when needed, can work effectively with little direction. 

  • Able to maintain confidentiality. 

  • Excellent analytical, problem-solving, and decision-making skills. 

  • Be able to grasp and operate the firm's supervisory and operations platforms. Knowledge of Microsoft Office Suite. 


Qualifications 

  • Bachelor's Degree with a focus/concentration on business-related field or equivalent experience. 

  • FINRA Series 7, 24, 66/65, 51/53 & 4. 

  • 3-5 years in a compliance and/or supervisory role with an advisory firm and/or broker- dealer.

About the client

JSC is working with a financial firm that offers solutions to independent advisors based on their level of ownership and responsibility.

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