Job Description
The Director will be accountable for compliance due diligence of third-party money managers seeking to serve as sub-advisers to certain of Fidelity’s mutual funds and exchange-traded funds (“ETFs”) as well as overseeing funded sub-advisers. The Director will build strong relationships and meet onsite with Fidelity and non-Fidelity investment advisers as well as other companies and business partners. This role interacts frequently with Fidelity control partners, including Legal, Treasurer’s Office, Risk, and Operations. The Director will be an individual contributor reporting to the head of AMC’s Sub-Adviser Oversight group.
The successful candidate for this Director position will have strong knowledge of the federal securities laws, including the Investment Company Act of 1940 (“1940 Act”) and the Investment Advisers Act of 1940 (“Advisers Act”) in addition to regulatory requirements related to securities trading and issuance. The Director will be accountable for the design, implementation, and continual enhancement of AMC’s sub-adviser oversight programs.
He or she will be responsible for investigating complex fact patterns, measuring risks and remediation measures, and escalating matters as appropriate within AMC and Fidelity. The Director will interact with individuals at all levels, including members of senior management, Legal, and Chief Compliance Officers of prospective and existing sub-advisers. The Director will review and draft policies, ADV content, oversight questionnaires, Steering Committee material, risk assessments, and other documents requiring strong analytical and drafting skills as well as understanding conflicts and regulatory risks across a wide variety of topics. The Director will also draft board memoranda to assist trustees and senior management in their oversight responsibilities related to Codes of Ethics, proxy voting guidelines, brokerage reporting, policy changes, errors, and compliance or other matters.
Primary Responsibilities
Designing and implementing Compliance program requirements and tools, including electronic platform tools
Measuring risk and assessing responses to RFIs, compliance certifications, regulatory matters, news reports, ADV disclosures, conflict reviews, and the apparent effectiveness of compliance programs maintained by investment advisers, including policies and procedures, systems, and compliance culture, among other things
Effectively partnering with business partners, including sub-advisers, Legal, Risk, Treasurer’s Office, CCOs, and Operations teams to understand operational and regulatory risks in a complex environment
Articulating clear, fact-based points of view regarding observed strengths or weaknesses of controls maintained by investment advisers or in support of various products or services
Proactively evaluating controls used in sub-adviser oversight programs and executing on opportunities for enhancements
Traveling approximately 30% of the time to spearhead due diligence and oversight meetings with CCOs and other senior personnel of investment advisers
Desired Skills and Experience
Education and Experience
Bachelors degree and 10+ years in the financial services industry
Advanced business degree, JD, or regulatory experience is a plus
Experience working in a compliance, legal or audit group at a large financial services firm
Skills and Knowledge
Ability to understand complex issues and regulatory requirements and to provide clear and concise explanations in written and verbal communications, including to senior management
Knowledge of regulatory requirements and operations supporting investment advisers, mutual funds, and ETFs related to equity and fixed income strategies
Very strong analytical and problem-solving abilities; effective and efficient decision maker
Astute meeting facilitator capable of commanding respect and gaining consensus
Ability to succeed in a deadline-driven environment
Strong solutions-based creativity
Monday, October 05, 2015
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