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Years of Experience
Date Last Verified
ProfileDirector - Distribution Compliance Duties: Responsible for regulatory and policy compliance and risk mitigation for sales activities occurring through affiliated/non-affiliated distribution (broker-dealers, investment advisers, customer service centers, insurance agencies) in the United States and Canada, as applicable. Directly supervises and develops the Compliance Officers of the companies’ affiliated broker-dealers, retail investment advisers and insurance agencies. Prevents, detect, assists in resolving and reports, as necessary on potential violations of state and federal laws and regulations and the rules of self-regulatory and industry ethical standards organizations. Collaborates with senior leadership in the Canada Distribution function to ensure that an appropriate structure, resources and policies and procedures are in place to mitigate regulatory and compliance risks for the affiliate distributors in all jurisdictions where they do business. Assists the Enterprise Compliance Officer and/or appropriate senior management in assessing the company’s Compliance risks and prepares reports for senior leadership as may be appropriate concerning such risks. Develops recommendations for corrective action based upon analysis of legislation/regulation and deficiencies flagged during examinations and/or investigations, and works with business unit to ensure corrective action has occurred. Initiates projects to improve the control environment and/or efficiency of the business units’ Compliance activities. Develops the analytical abilities of persons serving as Manager, Compliance or technical staff to enable them to achieve a degree of expertise and autonomy. Responsible for identifying training needs and developing communication processes to enhance distributors’ compliance with regulatory requirements. Assesses and ensures Compliance with company policies and procedures applicable to distribution. Prepares meaningful and insightful analyses and reports of the state of Compliance in the companies’ distribution function. Represents the company and advocates our position on trade association committees. Assists the legal and enterprise Compliance department with responding to and taking corrective action based upon regulatory matters. Assists internal audit, risk and other interested persons in conducting audits, preparing reports and reports of corrective action. Develops and/or manages cost center budget and oversees budgets for direct reports. Develop appropriate Compliance monitoring and reporting processes and tools to inform and apprise senior management of regulatory risks created by sales activity/practices of distributors. Participates in an advisory capacity or oversees participation by direct reports in an advisory capacity, in distribution disciplinary and employment processes, providing input as needed from Compliance monitoring activities and knowledge of applicable laws, regulations and company policies and procedures. Collaborates with Distribution leadership and, as appropriate, other functions (e.g. Operations, Compliance, Law etc.) to ensure receipt of information necessary to implement and communicate changes in policies and procedures necessary to address applicable regulatory requirements and company policies and procedures, as applicable. Evaluates and oversees the evaluation of new and emerging state/province legislation and regulation for significant impact on the Company’s business to identify existing or emerging compliance issues, and research laws and regulations. Ensure agency policies and procedures are appropriately communicated to agencies, agents, and other internal departments and any attendant training occurs, as necessary. Other duties as assigned as needed to mitigate regulatory risks for WFG Insurance Agencies and related agents. Conforms with and abides by all regulations, policies, work procedures, instruction, and all safety rules.
Qualification and Experience
Qualifications: Bachelor’s degree required. Law degree, CLU, FLMI or legal assistant degree is a plus. 10+ years of experience in Compliance, preferably as a Chief Compliance Officer, and managing managers in a distribution compliance role. Strong experience working directly with regulators on investigations, examinations and routine inquiries. A broad knowledge of the financial industry and field experience is an asset. Preferred: Post-Secondary education, relevant industry courses. FINRA Series 7, 24, and 65. Excellent oral and written communication skills.