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Sr Manager, DOL and Retirement - Compliance The candidate will have primary responsibility for providing ERISA and DOL regulatory guidance, support and coordination with those responsible for direct supervision and oversight of the Firm’s broker-dealer and investment advisory Distribution and Product Groups. This includes providing regulatory guidance regarding Internal Revenue Code and ERISA rules as they relate to internal policies and procedures, conflicts of interest, disclosures, tax reporting, and other relevant issues. This person will also acts as a Compliance liaison to the Institutional division on IRS Code, ERISA, and DOL fiduciary matters. Must have the ability to work independently, to prioritize competing issues and to see outstanding projects to completion. Interact with senior Compliance management, Legal, and key business areas in the completion of departmental objectives and serve as source of feedback concerning clarity, appropriateness and effectiveness of policies and procedures, and recommend revisions to policies where appropriate. Focus of effort is on achieving and sustaining a high level of quality, accuracy and efficiency in the support and monitoring of the various areas listed above. Serve as SME of DOL BIC exemption and ability to independently provide regulatory guidance to internal/external business partners on best manner by which to revise existing practices to comply with all DOL requirements, including disclosures, impartial conduct standards, and preexisting transaction exemption. Develop extensive knowledge of DOL Level Fee Fiduciary exemption and ability to advise business partners on best manner by which to revise existing practices to comply with all DOL requirements. Provide practical advice and support on ERISA and DOL fiduciary issues including recommendation of investments, conflicts of interest, compensation practices, and fee disclosure. Advise on the application of prohibited transaction exemptions, both current and in post BIC environment. TDA Conflicts of Interest Committee – membership on and participation in the Conflicts of Interest Committee, which is a cross-functional enterprise committee consisting of members of senior management throughout the organization that meets on a quarterly basis. Scope and purpose of Committee is to address all forms of potential conflicts including product, pricing, and compensation as few examples. Provide expertise and guidance to management and associates on applicable DOL, IRS Code, and ERISA rules and regulations firm wide. Advice provided related to existing SEC, FINRA, MSRB, SRO, rules and regulations as they pertain to the broker dealer and investment advisor industries. Act as SME and point person for IRS Code, ERISA, and DOL related questions. Interface with cross-functional team developing new IRA capabilities at TD Ameritrade, Inc. Strive to ensure DOL and ERISA regulatory considerations are properly taken into account in company’s products and services, including considerations arising from both new company products and services and new IRS Code, DOL and ERISA developments. Counsel company management on IRS, DOL and ERISA, including by identifying risks and proposing alternative structures to mitigate risks in current operations. Partner with the Surveillance and Oversight teams to review activity of Business Segments. Respond to business escalations as needed. Provide expertise and guidance to management and Associates on applicable IRS Code, ERISA, and DOL rules and regulations for the RIA. Assist and advise on the creation and implementations of DOL and ERISA compliance training for RIA related matters. Partner with the Surveillance and Oversight team to review activity of Business Segments. Partner with Legal and other areas of Compliance in responding to regulatory inquiries and examinations for the company, with an emphasis on DOL and ERISA. Interface with Compliance and business partners on ERISA and DOL requirements. Analyze new rules and regulations and their impact to company business. Create and deliver DOL training to employees and others as appropriate. Review operations from a compliance perspective and document gaps in procedures and controls. Edit and draft written policies and procedures. Partner with Legal and other areas of Compliance in responding to regulatory inquiries and examinations for the company, with an emphasis on ERISA and DOL Fiduciary matters.
Qualification and Experience
4 year College Degree required. Graduate Degree preferred / Juris Doctorate strongly preferred. 8-10 years related experience required. Military education or experience may be considered in lieu of civilian requirements. Extensive working: knowledge of retirement regulations (ERISA, relevant provisions of the Internal Revenue Code, DOL Fiduciary Rule etc) as they apply to broker-dealers, investment advisors, and insurance agencies; knowledge of related IRS Code and ERISA matters for a financial institution that directly align with the specific responsibilities for this position; knowledge of Investment Advisers Act of 1940 and ERISA and DOL fiduciary requirements including BIC Exemption. Knowledge of FINRA supervisory obligations relative to dually registered RRs/IARs required. Strong communication skills, both written and verbal; and strong listening, assessment, negotiating and analytical skills with the ability to make sound and practical decisions in a timely manner required. Ability: to evaluate current procedures and make recommendations for better compliance and business processing; to influence business partners on policies and procedures as it relates to the desired goals for the business unit; to enforce company policies in accordance with applicable regulations and procedures required. Series 7, 24, 65 or 66 preferred.
Job ID: 107842
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