Principal Director, RIA Compliance
Description
Envestnet is seeking a Principal Director, RIA Compliance to join our Legal & Compliance department. This is a hybrid role, with in-office work required at our Berwyn, PA office location.
Envestnet is transforming the way financial advice is delivered through its connected technology, advanced insights, and asset management solutions – backed by industry-leading service and support. Since 1999, Envestnet has served the wealth management industry and today supports trillions in platform assets, serving over a hundred thousand financial advisors. The vast majority of the nation’s leading banks, the largest wealth management and brokerage firms, and over 500 of the largest RIAs rely on Envestnet’s wealth management platform and solutions to drive business growth, boost productivity, and deliver better financial outcomes for their clients.
Envestnet’s Strategy:
- Deliver the industry-leading wealth management platform, powered by advanced data and insights
- Leverage our scale and efficiencies to serve our clients’ needs comprehensively
- Enable financial advisors to deliver more holistic advice – reflecting a more complete view of their clients’ financial lives, and in a more connected environment
For more information, please visit www.envestnet.com.
Job Summary:
The Principal Director, RIA Compliance assists in the management of the firm’s compliance with applicable laws, rules and regulations by establishing and enforcing policies and procedures for the firm’s registered investment adviser (RIA). Possesses and applies broad knowledge of industry-related practices, concepts, and principles; works independently with applicable latitude for un-reviewed action or decisions; performs complex assignments. This position will be hybrid, with 2-3 days expected in office per week.
Job Responsibilities:
- Provide regulatory oversight, risk management, and policy implementation for all investment advisory programs, ensuring alignment with firm-wide objectives.
- Oversee a segment of the RIA compliance team, fostering a high-performance culture and ensuring team success through proactive support and guidance.
- Identify process improvements and strategies for execution to assist CCO with achieving compliance objectives. Lead implementation of department-wide initiatives.
- Provide direction and guidance to firm personnel and field associates on investment advisory compliance issues, including fiduciary responsibility, advisory regulation, strategic relationships, and permissible activities under firm policy, SEC rules and regulations and the Investment Advisers Act of 1940.
- Help advise on Form ADV Parts 1 and 2A, ensuring accuracy and regulatory alignment.
- Maintain the firm’s Policies and Procedures, Code of Ethics and overall compliance program. Identify and assess new or changing regulatory issues and market trends; develop, maintain and effectively communicate policies and procedures.
- Serve as a senior resource to firm personnel on special projects and regulatory initiatives; provide guidance and analysis of rules and/or firm policies as appropriate.
- Collaborate with the investment advisory team on initial and ongoing due diligence of advisory programs and products, ensuring agreements and fees are properly disclosed and firms are providing services as described.
- Support regulatory examinations and ensure implementation of new policies and procedures.
- Identify risks and conflicts of interest related to the firm’s business models.
- Provide guidance to employees with respect to RIA compliance and adherence to firm’s policies and standards of conduct.
- Maintain or advise on procedures in areas such as best execution, trade errors, Code of Ethics mandates, communication policies, due diligence, performance reporting, proxy voting, and advertising.
- Support and respond to auditors and applicable client inquiries.
- Act as a primary contact for service and operations teams in developing policies, best practices, and scalable compliance solutions.
- Adherence to and application of Envestnet legal, compliance, risk, business continuity and administrative policy within the role and department(s) including the timely completion of training & awareness, affirmations and testing as requested.
- As part of the responsibilities for this role, you will understand and readily support Envestnet's established corporate business practices, policies, internal controls and procedures designed to create value or minimize risk.
Required Qualifications:
- Bachelor’s degree in business, finance, marketing, pre-law or other relevant field, or equivalent education and experience.
- 8+ years of investment advisory compliance experience.
- Experience managing and developing high-performing teams.
- Strong working knowledge of the Advisers Act, SEC rules and regulations, and no-action letter guidance for RIAs. Broad knowledge of securities products, investment advisory programs, services, arrangements, and related regulatory requirements.
- Must have a thorough understanding of fiduciary responsibilities and requirements pertaining to the disclosure of conflicts of interest.
- Experience and knowledge of the regulatory mandates and best practices associated with alternative products and/or artificial intelligence applications a plus.
- Experience with implementing control enhancements and operational efficiencies.
- Experience with Broker-Dealer and FINRA regulations is a plus.
- Relevant compliance certifications and/or Series 65/66 preferred
Envestnet:
- Be a member of an innovative and industry leading financial technology and solutions company
- Competitive Compensation/Total Reward Packages that include:
- Health Benefits (Health/Dental/Vision)
- Paid Time Off (PTO) & Volunteer Time Off (VTO)
- 401K – Company Match
- Annual Bonus Incentives
- Parental Stipend
- Tuition Reimbursement
- Student Debt Program
- Charitable Match
- Wellness Program
- Health Benefits (Health/Dental/Vision)
Envestnet is an Equal Opportunity Employer.
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