Wealth Management Compliance Associate

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Date: Apr 11, 2019

Location: New York, NY, US

Company: New York Life Insurance Co

 

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

 

Eagle Strategies, LLC is a registered investment advisor (RIA) and  wholly owned subsidiary of New York Life Insurance Company.  Eagle has over 1000 affiliated  Investment Adviser Representatives across the country, primarily serving retail clients. This role is within Eagle’s Securities Standards team, which is responsible for implementing the regulatory compliance program for the RIA (e.g. Form ADV, Code of Ethics, Policies & Procedures, client account surveillance).

 

The optimal candidate should have familiarity with RIA products/platforms/terms, including but not limited to: Separate Accounts, Fund Strategists, UMAs, Rep Directed, Form ADV, 206(4)-7, Envestnet (TAMPs), Firm Element

 

 

FORM ADV

• Review and maintain approximately 1,200 Eagle Financial Advisor's (FAs) Form ADV Part 2Bs, via monthly data reports. 

• Manage the Form ADV Part 2 annual offer mailing to all firm clients.  Review return mail and update records as needed. 

• Create and update the Form ADV 2Bs for Home Office Investment personnel.

• Work with all executing 3rd party managers to ensure distribution of their own Form ADV summary of material changes as part of the Disclosure Documents mailing to clients.

• Coordinate the quarterly upload of 1,200 FAs' Form ADV Part 2Bs to the Envestnet system.

• Support the Corporate Compliance Department (CCD) with gathering information for the annual update of Form ADV Part 1.

FINANCIAL ADVISER / INVESTMENT ADVISER REPRESENTATIVE COORDINATION

• Administer the annual Firm Element training for Eagle Strategies: update and review content, send communications to the Field and track completion.

• Deliver the Annual Adviser Questionnaire to 1,500 employees and FAs.

• Analyze Initial Adviser Questionnaire responses for newly affiliated FAs and follow up with the Field and CCD for additional information as necessary.

• Review social media activity of FAs for testimonials via Hearsay Social.

• Responsible for non-cash compensation policies, including reviewing vendor meetings invitee lists and agenda for appropriateness

ADDITIONAL RESPONSIBILITIES / PROJECT WORK

• Conduct quarterly best execution reviews / trade cost analysis. Serve as Relationship Manager for Elkins McSherry to facilitate their Best Ex report delivery.

• Act as Record Manager Coordinator for Eagle Strategies.

• Update the Eagle Policies & Procedures Manual and the Eagle Strategies Securities Standards Desk Manual accurately to reflect changes within the department.

• Serve as Subject Matter Expert regarding ADVs, Firm Element and Advisor Questionnaire by responding to questions from internal employees, CCD, FAs and FA staff regarding firm’s policies via phone and email.

• Draft internal disciplinary referrals to Agency Standards as necessary.

• Communicate violations with internal employees, CCD, FAs and FA staff via email and phone.

• Assist with the review and correction of system data errors via the FIS Protegent PTA system.

• Proactively identify and resolve compliance issues that may arise during daily activities.

• Exercise good business judgment and recognize when it is appropriate to escalate an issue.

• Act as back up for client account surveillance reviews for its advisory programs, as well as personal securities transactions subject to Eagle’s Code of Ethics.

• Help with other ad hoc projects and initiatives as needed. 

 

Qualifications

  • Bachelor’s degree preferred
  • Minimum of 5+ years of relevant experience (5 plus years in Asset/Wealth Management)
  • Series 7, 66, and 24 preferred (Series 7 & 66 must be attained within 6 months.  Series 24 must be attained within 9 months.
  • Compliance or Operations background required, with knowledge of the Investment Advisers Act.
  • Knowledge of FIS Protegent PTA System and Hearsay Social system a plus.
  • Excellent Word and Excel skills required.
  • Strong analytical skills.
  • Self-motivated and able to multi-task and work independently
     
     
     
     

 

Please note: This role requires FINRA licensed and/or FINRA Associated Person pre-hire fingerprinting.

 

EOE M/F/D/V

 

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