Supervisory Principal - Wealth Management

Mesirow; Highland Park (IL); On-site; USD 130,000 - 185,000; Full time

Benefits offered by this job

Commission bonus

Performance bonus

Benefits package

Job summary

Mesirow is seeking an experienced Compliance Supervisor for its Wealth Management division, primarily in the Highland Park office. You will report to the Chief Operating Officer and oversee day-to-day regulatory compliance, including supervision of Wealth Advisor teams and approvals for new accounts.

Requirements include a Finance degree, 10+ years supervisory experience, FINRA licenses (4,7,66,24), and strong SEC/FINRA knowledge. Competitive base salary plus bonus and benefits. EOE

Qualifications

• Bachelor’s degree in Finance or related discipline (strongly preferred).
• 10+ years supervisory experience in wealth management/compliance.
• FINRA licenses (Series 4, 7, 66 and 24).
• Strong knowledge of SEC/FINRA regulations and applying them effectively.
• Proficient with Fidelity (NFS) and Schwab policies.

Responsibilities

• Oversee and supervise the entire Wealth Management division.
• Review new account paperwork for suitability and completeness with Principal approval.
• Develop procedures and guides for operational processes used by Wealth Advisors.
• Monitor and review daily trading activity and compliance reporting.
• Review emails for conflicts of interest and coordinate with Legal/Compliance.
• Liaise with Middle Office to improve operational efficiency.
• Maintain knowledge of Fidelity (NFS) and Schwab policies for channel guidance.
• Review and pre-approve employee personal financial transactions for conflicts.
• Review advertising/client presentation material for regulatory compliance.

Skills

Communication skills

Regulatory interpretation

Cross-functional collaboration

Documentation & reporting

Analytical investigation

Self-motivation & drive

Multi-task prioritization

Fidelity (NFS) & Schwab policy

Education

Bachelor’s degree in Finance

Tools

FIS Protegent

RedOak

Star Compliance

Job description

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Private Capital & Currency, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. We are proud of our employee-owned culture, built on collaboration and shared success, empowering our professionals to develop meaningful relationships, pursue growth opportunities and make a lasting impact for our clients and communities. Mesirow has been named one of the Best Places to Work in Chicago byCrain’s Chicago Businessmultiple times and is one ofBarron’sTop 100 RIA firms.

Our advisors provide investment and fiduciary services to individuals, families, corporations, and non-profit organizations. With over $14B in assets under management, we have earned a reputation for effectively managing our clients’ needs and goals. Wealth management has been Mesirow's flagship business for over 80 years, built around our trusted advisors who have an average tenure at the firm of over 20 years.

The Opportunity:

Supporting the Wealth Management division and working primarily in the Highland Park office, this individual will report directly to the Chief Operating Officer and assist with day-to-day regulatory compliance responsibilities relating to required daily supervision of all Wealth Advisor teams. Tasks include new accounts approvals, trade execution monitoring, advertising review and internal reviews/inquiries.

Responsibilities:

• Responsible for oversight and supervision across the entire Wealth Management division
• Reviewing new account paperwork and other standard account requests for suitability, appropriateness and completeness, and providing supervisory Principal approval for processing.
• Developing procedures and working guides for operational processes, including paperwork requirements, for Wealth Advisors to utilize as a reference
• Monitoring and reviewing daily trading activity
• Reviewing pre-trade and post-trade compliance exception reporting, inquiring where appropriate, and maintaining evidence of such review
• Reviewing email correspondence for conflicts of interest or prohibited behavior
• Acting as liaison to Middle Office to ensure efficiencies, working to improve operational procedures
• Maintaining working knowledge of Fidelity (NFS) and Schwab policies affecting Wealth Advisors workflow and communicating such policies to the Wealth Advisors business
• Corresponding and collaborating with Legal/Compliance Department members regarding various compliance inquiries, including AML, suitability, and other compliance issues
• Reviewing and providing pre-approval for employee personal financial transactions, working to identify any conflicts of interest
• Reviewing advertising and client presentation material for compliance with applicable rules and regulations

Requirements:

• Bachelor’s degree in Finance or related discipline (strongly preferred)
• A minimum of 10 years supervisory experience
• FINRA Series 4, 7, 66 and 24 licensed
• Strong working knowledge of SEC and FINRA regulations and the ability to interpret and apply regulatory requirements effectively
• Proficient in FIS Protegent, RedOak and Star Compliance
• Exceptional oral and written communication skills
• Superb investigative abilities and capacity to research issues
• Strong process documentation and reporting capabilities
• Self-motivated and self-directed
• Strong cross-functional team participant and collaborative approach to problem solving
• Capable of prioritizing and managing multiple tasks in a fast-paced environment
• Professional, with a high-level of integrity and ability to maintain confidentiality
• Advanced proficiency with Microsoft Word, Excel and Outlook and skilled generally with learning and administering technological applications

In accordance with the Illinois Pay Transparency Law, the anticipated hiring base salary for the role will be between $130,000 and $185,000 per year. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, also provides the opportunity for a commission and discretionary performance bonus and the Mesirow benefit program.

EOE

Equal Opportunity Employer

The Company:

Mesirow is an independent, employee-owned financial services firm founded in 1937. Headquartered in Chicago, with offices around the world, we serve clients through a personal, custom approach to reaching financial goals and acting as a force for social good. With capabilities spanning Private Capital & Currency, Capital Markets & Investment Banking, and Advisory Services, we invest in what matters: our clients, our communities and our culture. We are proud of our employee-owned culture, built on collaboration and shared success, empowering our professionals to develop meaningful relationships, pursue growth opportunities and make a lasting impact for our clients and communities. Mesirow has been named one of the Best Places to Work in Chicago byCrain’s Chicago Businessmultiple times and is one ofBarron’sTop 100 RIA firms.

Our advisors provide investment and fiduciary services to individuals, families, corporations, and non-profit organizations. With over $14B in assets under management, we have earned a reputation for effectively managing our clients’ needs and goals. Wealth management has been Mesirow's flagship business for over 80 years, built around our trusted advisors who have an average tenure at the firm of over 20 years.

The Opportunity:

Supporting the Wealth Management division and working primarily in the Highland Park office, this individual will report directly to the Chief Operating Officer and assist with day-to-day regulatory compliance responsibilities relating to required daily supervision of all Wealth Advisor teams. Tasks include new accounts approvals, trade execution monitoring, advertising review and internal reviews/inquiries.

Responsibilities:

• Responsible for oversight and supervision across the entire Wealth Management division

• Reviewing new account paperwork and other standard account requests for suitability, appropriateness and completeness, and providing supervisory Principal approval for processing.
• Developing procedures and working guides for operational processes, including paperwork requirements, for Wealth Advisors to utilize as a reference
• Monitoring and reviewing daily trading activity
• Reviewing pre-trade and post-trade compliance exception reporting, inquiring where appropriate, and maintaining evidence of such review
• Reviewing email correspondence for conflicts of interest or prohibited behavior
• Acting as liaison to Middle Office to ensure efficiencies, working to improve operational procedures
• Maintaining working knowledge of Fidelity (NFS) and Schwab policies affecting Wealth Advisors workflow and communicating such policies to the Wealth Advisors business
• Corresponding and collaborating with Legal/Compliance Department members regarding various compliance inquiries, including AML, suitability, and other compliance issues
• Reviewing and providing pre-approval for employee personal financial transactions, working to identify any conflicts of interest
• Reviewing advertising and client presentation material for compliance with applicable rules and regulations

Requirements:

• Bachelor’s degree in Finance or related discipline (strongly preferred)
• A minimum of 10 years supervisory experience
• FINRA Series 4, 7, 66 and 24 licensed
• Strong working knowledge of SEC and FINRA regulations and the ability to interpret and apply regulatory requirements effectively
• Proficient in FIS Protegent, RedOak and Star Compliance
• Exceptional oral and written communication skills
• Superb investigative abilities and capacity to research issues
• Strong process documentation and reporting capabilities
• Self-motivated and self-directed
• Strong cross-functional team participant and collaborative approach to problem solving
• Capable of prioritizing and managing multiple tasks in a fast-paced environment
• Professional, with a high-level of integrity and ability to maintain confidentiality
• Advanced proficiency with Microsoft Word, Excel and Outlook and skilled generally with learning and administering technological applications

In accordance with the Illinois Pay Transparency Law, the anticipated hiring base salary for the role will be between $130,000 and $185,000 per year. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, also provides the opportunity for a commission and discretionary performance bonus and the Mesirow benefit program.

EOE

Equal Opportunity Employer

This employer is required to notify all applicants of their rights pursuant to federal employment laws.

For further information, please review the Know Your Rights notice from the Department of Labor.