Wealth Management Compliance Manager

Overview

The Wealth Management Compliance Manager is responsible for developing, implementing, and overseeing the bank's compliance program related to the Bank's non-deposit investment products subsidiaries which are Ocean Financial Services, LLC (OFS), Ocean Financial Advisor, LLC (OFA) and Ocean Insurance Services (OIS).

Responsibilities

This role ensures the broker-dealer operates in compliance with all applicable securities laws, rules, regulations, and internal policies.   Serves as the primary liaison with the Chief Compliance Officer, Director of BSA & Compliance, and Ocean Bank’s compliance team with respect to NDIP subsidiaries.   

Develops and implements policies, procedures, and controls to mitigate compliance risks.  Conducts regular risk assessments to identify and evaluate potential compliance vulnerabilities.  Conducts regular reviews and audits of business activities to ensure compliance.  Monitors regulatory developments and assess their impact on the firm's business.

Prepares and files required regulatory reports, and maintains accurate records of compliance activities.  Manage regulatory audits and examinations.  Serves as the primary point of contact for regulatory inquiries and examinations and responds to regulatory requests during internal audits, compliance reviews, external consulting engagements, and regulatory examinations.

Monitors employee communications (e.g., emails, correspondence) for compliance with regulations.  Investigates potential compliance violations and recommends corrective actions.  Communicates compliance updates and information to employees and develops and delivers compliance training programs for employees.

The Wealth Management Compliance Manager provides guidance to management and staff on compliance matters, monitors compliance activities, and reports on the effectiveness of the compliance program to senior management and the Board of Directors.   Must stay abreast of changes in securities laws, rules, and regulations issued by the SEC, FINRA, and other regulatory bodies. 

Qualifications

• Bachelor's degree in business, finance, law, or a related field. JD or MBA preferred.
• Minimum of seven (7) to ten (10) years of experience in compliance within the securities industry, preferably with a broker-dealer.
• Must have a strong understanding of securities laws, rules, and regulations (e.g., Securities Act of 1933, Securities Exchange Act of 1934, Investment Advisers Act of 1940, FINRA rules).
• Series 7 and 24 (or licenses 9 and 10, in the absence of Series 24) are required.
• Comprehensive knowledge of NDIP products, BSA/AML compliance, best interest, compliance, broker dealer operations, registered investment advisory operations, and compliance management is required.
• Must have excellent leadership, communication (written and verbal), and interpersonal skills.
• Must have strong analytical, problem-solving, and decision-making skills.
• Ability to work independently and manage multiple priorities.  
• Experience in managing regulatory examinations and investigations is required.

Preferred Qualifications:

• Certified Regulatory and Compliance Professional (CRCP) designation.
• Experience with compliance technology and software.

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