Compliance Associate

Masterworks, LLC.; New York (NY); On-site; USD 90,000 - 130,000; Full time

Job summary

An innovative fintech platform is seeking a Compliance Associate to ensure adherence to regulations and industry standards. This role involves preparing regulatory filings, developing compliance policies, and conducting employee training. Join a dynamic team dedicated to democratizing alternative investments and experience a collaborative work environment that champions growth and innovation. With a strong emphasis on compliance excellence, this position offers the chance to make a significant impact on the company's operations while enjoying a range of unique benefits, including catered lunches and art museum access. If you thrive in a fast-paced setting and are passionate about compliance, this opportunity is for you.

Benefits

Daily catered lunches

Free admission to art museums

Health, dental, and vision coverage

PTO and 401k

Discounted Equinox membership

Happy hours and company outings

Qualifications

• 3+ years in compliance, risk, or audit role focused on RIA operations.
• Strong understanding of SEC, FINRA regulations, and industry best practices.

Responsibilities

• Prepare and submit regulatory filings like Form ADV and Form CRS.
• Assist in compliance training programs and maintain accurate compliance records.

Skills

Regulatory Compliance

Risk Management

Analytical Skills

Written Communication

Problem-Solving

Education

Bachelor’s Degree in Finance

Bachelor’s Degree in Business

Bachelor’s Degree in Law

Tools

Google Suite

Job description

About Masterworks

Masterworks is a fintech platform that allows anyone to invest in SEC-qualified shares of multi-million dollar paintings by names like Banksy, Basquiat, and Picasso. In just three short years, we have built a portfolio of nearly $800 million in world-class artworks, introducing nearly 950,000 individuals to the $2.2 trillion art market.

Masterworks has been covered by major media publications such as The New York Times, CNBC, The Wall Street Journal, and the Financial Times, and was recently recognized as one of the Top 50 Startups in the US by LinkedIn.

In 2021, Masterworks achieved unicorn status raising $110M in its Series A fundraising round at a valuation exceeding $1 billion.

Our 200+ employees are based out of our offices at Brookfield Place in the Financial District of New York City. With an entirely in-office team, there are endless opportunities for collaboration, innovation, and learning.

Why Masterworks?

• Do you thrive on disruption?
• Do you want to live at the cutting edge of finance, technology, and art?
• Are you passionate about democratizing alternative investments?
• Do you enjoy meaningful work that has a noticeable impact on business performance?

If you answered “Yes” to any of the above, we’d love to hear from you!

Position Overview:

We are seeking a motivated and enthusiastic Compliance Associate with experience in Registered Investment Adviser (RIA) compliance. As a Compliance Associate, you will be responsible for assisting the legal and compliance team in ensuring Masterworks’ operations adhere to all relevant regulations and industry best practices. Our Compliance Associate will report directly to the CCO and contribute to the organization's overall compliance framework.

Responsibilities:

• Regulatory Filings: Prepare and submit regulatory filings such as Form ADV, Form CRS, Forms U4 and U5, and other required state or federal filings.
• RIA Compliance: Assist in the development, implementation, and maintenance of policies and procedures to ensure compliance with applicable laws, rules, and regulations.
• Compliance Training: Assist in the preparation and delivery of compliance training programs, including the collection and oversight of employee compliance requirements (gifts & entertainment, political contributions, training, and certifications).
• Marketing and Advertising: Review and advise upon marketing pieces, as well as advisory referral and “promoter” programs and content.
• Surveillance and Monitoring: Oversee advisory employee activity, including the monitoring of advisory emails, texts, phone calls, and CRM system notes in accordance with the company’s policies and procedures.
• Compliance Investigations: Assist with regulatory inquiries or examinations.
• Compliance Documentation: Maintain accurate and up-to-date compliance records, including but not limited to regulatory filings, policies and procedures, client communications, marketing and advertising materials, and evidence of advisory oversight.
• AML and KYC: Assist with AML program compliance and oversight activities.

Requirements and Preferred Skill Sets:

• Minimum 3+ years in a professional compliance, risk, or audit role, with a focus on RIA operations.
• Experience with the Investment Advisers Act of 1940
• Bachelor’s degree in a related field such as finance, business, or law preferred.
• Strong understanding of regulatory requirements and industry best practices, including knowledge of SEC, FINRA, and other relevant regulations.
• Strong analytical skills with the ability to interpret and apply regulatory guidelines effectively.
• Google Suite proficiency: Docs, Sheets, Slides, etc.
• Excellent written communication skills, with the ability to articulate complex compliance concepts in a clear and concise manner
• Detail-oriented mindset and strong organizational skills to manage multiple tasks and prioritize effectively.
• Ability to work independently and as part of a team, with a proactive approach to researching and problem-solving.

Measurements of Success:

The successful candidate should be able and willing to:

• Consistently meets deadlines for regulatory filings and other compliance tasks without reminders.
• Proactively identify and address potential compliance issues or gaps in policies and procedures before they escalate.
• Suggest process and control environment improvements by taking self-initiative and performing company diligence and industry research.
• Successfully complete compliance training programs and stay updated on changes in regulations independently.
• Maintain meticulous and organized compliance documentation, which is readily accessible and accurate for audits or inquiries.
• Follow through on assigned compliance monitoring activities (surveillance and oversight activity) and document findings promptly and thoroughly.
• Adapt quickly to changing priorities and new compliance requirements in the fast-paced fintech environment.
• Take ownership of assigned compliance investigations and see them through to resolution, with clear communication and documentation.
• Demonstrate a strong commitment to the role and the company's compliance goals, even during periods of uncertainty or high workload.

Benefits at Masterworks:

• Daily catered lunches
• Free admission to art museums and galleries
• Health, dental, and vision coverage with FSA options
• PTO and 401k
• Discounted Equinox membership
• Happy hours, company outings, social clubs, and more!

How does Masterworks think about compensation?

The compensation range for the role is $90-130k (inclusive only of base salary, and exclusive of other potential competitive benefits such as on-target commission, bonus payments, and equity). Our ranges are very broad to accommodate all types of candidates and encourage growth. Specific compensation offered to a candidate may be dependent on factors such as education, experience, qualifications, and alignment with market data. Exceptional candidates may receive salaries outside of the posted ranges.