Job Details

DIRECTOR COMPLIANCE

Company name
Reinvestment Fund, Inc.

Location
Philadelphia, PA, United States

Employment Type
Full-Time

Industry
Compliance

Posted on
Aug 13,2019

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Profile

The Risk & Compliance department is responsible for developing and monitoring an effective risk and control framework across the organization.  R&C partners with business partners to effectively manage various risks in an environment of proactive and strategic problem solving.  The team also works to identify and remediate control issues, partnering with functions, other control disciplines and operational groups to assist in timely detection and escalation of control issues.

 

Opportunity

We are seeking an experienced and motivated compliance professional, with experience in financial services, to lead the execution of a compliance program.   This position reports to the Chief Compliance & Risk Officer and will have compliance oversight of key activities, including investment advisory activities of RF Impact Advisers.  RF Impact Advisers (RFIA) is a nonprofit Pennsylvania-registered investment advisor wholly owned by Reinvestment Fund. RFIA allows eligible investors to invest in private funds that focus on specific asset classes or toward specific impact goals, rather than invest in Reinvestment Fund’s broader portfolio.

The individual that fills this position will hold the following key responsibilities:

  • Provide end-to-end compliance oversight including developing and maintaining effective controls designed to monitor the effectiveness of the compliance program; ensuring and supporting the review of the appropriateness of the compliance system and procedures and implement necessary remediation for any identified deficiencies.
  • Maintain in-depth knowledge of the business and its activities in order to ensure adequate compliance oversight and resources as the business needs evolve over time; advise the business on emerging compliance issues.
  • Develop solutions and lead any required remediation of compliance gaps to completion.
  • Maintain and update the investment advisor compliance manual and perform surveillance, monitoring and annual testing to ensure effectiveness of the investment advisor Compliance program.
  • Preparing for and responding to regulatory inquiries and examinations as well as internal audit and other reviews.
  • Oversight of and review of marketing materials.
  • Participating in investor due diligence meetings and operational due diligence that support the business’s goals including reviews and approvals of the investment advisory.
  • Providing advice and regulatory guidance in connection with the development of new products.
  • Monitor Compliance Ethics pertaining to Company employee conduct matters and ensuring the timely resolution of such matters.
  • Providing compliance specific trainings to employees.
  • Oversee and/or execute regulatory filings, such as Form ADV, and relevant internal and client certifications.
  • Staying abreast of ongoing regulatory developments and/or material regulatory changes in applicable law and regulations.
  • Lead and support other key initiatives as directed by the Chief Compliance & Risk Officer for the parent company.
  • The above areas of responsibilities are not exhaustive and may continue to evolve.

 

Education, Experience and Skills
The ideal person for this role should have managerial experience and knowledge in managing a compliance program, including maintaining policies and procedures; overseeing compliance and operational risk processes; implementing compliance training programs; and monitoring and remediating potential violations of policy or law.

The requirements listed below are representative of the minimum levels of knowledge, skills, and/or abilities required. To perform this job successfully, the individual must possess the abilities or aptitudes to perform each duty proficiently.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Candidates will be expected to possess the following professional and personal attributes:

  • Bachelor's degree in Finance, Accounting, or Business-related discipline.
  • 6 years of related Compliance experience with strong knowledge of the Investment Adviser’s Act of 1940 and prior experience preferably as a Deputy CCO.
  • Familiarity with the knowledge of the securities industry, from a product, corporate governance, compliance and administrative perspective including knowledge of Federal Securities regulations.
  • Demonstrated ability to influence and work effectively and cross-functionally.
  • Thinks critically and strategically through business issues while being able to perform tactical tasks including conducting risks assessments and leading testing of IA compliance programs.
  • Strong communication skills and presence with the ability to speak with impact, influence outcomes; simplify complex topics into actionable recommendations for decision-making.
  • Comfortable with confronting conflict and difficult issues in a professional, assertive and proactive manner.

Preferred Requirements

  • Advanced Degree or Certifications
  • Series 7 and 24 licenses
  • IACCP designation

 

Expectations for all employees

Supports Reinvestment Fund’s mission, vision, and values by exhibiting the following competencies: Commitment to Reinvestment Fund, ethical behavior/integrity, and respect for coworkers, Reinvestment Fund boards and committees, investors and borrowers, and clients.

 

Compensation and Benefits

Reinvestment Fund offers a competitive salary based on experience and skills, including participation in the Company’s performance plan as well as an excellent benefits package including employer-paid health, disability and life insurance, 401(k) savings plan with employer match, flexible spending accounts (medical, dependent care, and transportation), tuition reimbursement, generous paid time off, and EAP program.  As part of its professional development program, the company pays for CPE credits and time off to attend classes as required by its professional staff.

 

To Apply

Complete the online employment application available on our website. Please attach your resume and a cover letter which includes your salary requirement.

Reinvestment Fund uses E-Verify to validate all new hires’ ability to legally work in the United States. Reinvestment Fund is an Equal Opportunity Employer.  Reinvestment Fund does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job related disabilities, or status as a veteran.

Reinvestment Fund, Inc. has an affiliate, RF Impact Advisers, Inc. (“RFIA”) that is a state-registered investment adviser.  In order to advance compliance with and prevent violations of federal and state securities laws and to avoid even the appearance of a conflict of interest, RFIA has adopted a Code of Ethics to govern certain conduct of its staff, including certain staff of Reinvestment Fund because Reinvestment Fund is an advisory affiliate of RFIA.   As part of this Code of Ethics, there are specific personal reporting and other requirements and disclosures of personal financial and/or securities transactions information. For certain individuals this reporting will extend to your household members. You may be subject to a background check.

Company info

Reinvestment Fund, Inc.

Company Profile
Reinvestment Fund is a catalyst for change in low-income communities. We integrate data, policy and strategic investments to improve the quality of life in neighborhoods across the country. We finance schools, affordable housing, grocery stores and health centers in underserved communities helping families lead healthier, more productive lives. Reinvestment Fund brings together individual investors, banks, government, insurance companies, private foundations and faith-based and community organizations to invest in projects that transform communities. As a federally-certified community development financial institution (“CDFI”), we manage $1.2 billion in capital that originates from over 880 investors. We have deployed over $2.2 billion into community revitalizing and job-creating projects and enterprises over our 34-year history. The company maintains a AA- issuer rating from S&P, as well as the highest ratings from an industry independent rating agency (AAA, four star with a Policy Plus from AERIS).

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