Job Details

Retirement Products & Services Compliance Officer

Company name

Organization Type

In-House

Job Type

Attorney

Years of Experience

Min 10 yrs required

Location

Owings Mills, MD

Date Last Verified

Oct 11,2017

Posted on

Sep 08,2016
Practice Area
Government and Government Relations >> Government and Government Relations
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Retirement Products & Services Compliance Officer Duties: Provide direction and leadership to RPS, USIS and GIS in maintaining and enhancing their respective compliance programs and establishing consistency across the firm relating to Retirement products and services to ensure compliance with the expanding regulatory requirements and contractual commitments impacting the firm, its clients and the participants in client retirement plans. Will lead compliance efforts to identify issues, establish policies and procedures, direct testing initiatives, define training requirements and fulfill certain specified compliance obligations for the firm to offer retirement products and services. Will work closely with the firm’s attorneys to ensure compliance with the firm’s obligations relating to ERISA, FINRA and SEC requirements and expectations. While residing within the Legal/ Compliance Department, will regularly work within USIS (including RPS and Individual Investor) and GIS to coordinate compliance activities relating to distribution of products and services to retirement plans, participants and individual retirement accounts. Compliance Programs – Provides support to USIS (including RPS and II) and GIS at all locations by proactively supporting the development, maintenance and continued enhancement of the Business Unit compliance programs, problem solving, and providing guidance. The Compliance Officer will coordinate compliance activities impacting Retirement services and products across the firm to identify areas of compliance program improvement, assist with issue and problem resolution, and to implement policies and procedures as needed to add value to the firm’s Retirement services and products. This role is expected to be proactive in identifying issues and be able to easily shift priorities as needed to meet the varied needs of the Business Units supported. Works actively with Investment Advisor CCOs, Broker Dealer CCO and the subject matter attorneys to enhance knowledge of Investment operational activities and compliance risks. As new regulatory rules are passed and existing rules continue to evolve, the Compliance Officer works with appropriate attorneys to research and understand the rules, as well as help determine or develop recommendations with regard to the impact to the Investments business units. . . Lead Retirement Specific Compliance Projects – Under the direction of the Head of Group Strategic Compliance and the Retirement / ERISA Managing Counsel, this compliance officer acts as the lead on projects driven by the needs impacting Retirement services and products. Projects will be focused on regulatory requirements imposed by ERISA, FINRA, the SEC and other regulators and will typically last over several quarters. This includes creating the project plan, implementation of solution(s), and conducting post-implementation analysis. The position will coordinate resources from the Compliance Department, Legal, the impacted Business Units and outside parties to accomplish project goals, manage the project team, and follow-up on project deadlines. The position would take a leading role in the ongoing compliance implementation related to the ERISA fiduciary advice rule. Further, projects may be focused on compliance areas new to the Business Units or in areas where there is a low level of expertise, thus increasing the level of project complexity and requiring the incumbent to be resourceful and creative in their problem solving approaches. May investigate the compliance and risk issues and challenges presented by intermediaries involved in the distribution of Retirement services or products. Governance and Assurance Support– Work with various governance and assurance groups throughout the firm including Enterprise Risk Management, Internal Audit, Vendor Management Office and Business Continuity to support their efforts and help to satisfy the requests that they make upon the Business Units rleativeto Retirement services and products. Industry Issues – In consultation with legal team, recognize current industry compliance issues and researches and analyzes impact on T. Rowe Price and its retirement clients and customers. Communicates relevant information to Business Unit management which requires sound understanding of the differences between RPS, USIS and GIS and their respective products and services.

Qualification and Experience

QUALIFICATIONS: College degree and 10 years related work experience, or advanced degree and 6 years of related work experience. MBA or Law Degree preferred. Retirement operations or distribution experience preferred. Project management, audit, consulting or compliance experience preferred. Knowledge of laws, regulations and standards relating to Retirement products and services including rules established by the SEC, DOL and FINRA. Knowledge of Retirement products, services, distribution, operations, taxation, recordkeeping and administration. Excellent interpersonal skills, to include strong influence skills, in interacting with a diverse group of internal and/or external contacts. Excellent project management capabilities with ability to establish project plans, deliver assignments on time and be accountable for results. Strong technical writing skills. Technology savvy. Ability to develop and maintain good working relationships with members of various business units, regulatory agencies and other external contacts. Open willingness to assist others to accomplish common objectives. Exceptional creative thinking and problem solving skills. Knowledge of MS Word, Excel and PowerPoint.

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