Senior Compliance Manager - Enhanced Monitoring & Supervision
About the role
Job Summary
The Senior Compliance Manager – Enhanced Monitoring & Supervision is responsible for the design, implementation, and ongoing administration of the firm’s enhanced-risk client, employee, and business activity monitoring framework. This role focuses on identifying, assessing, and monitoring elevated risk across clients, employees, advisors, and business practices.
The role includes developing a risk-based high risk evaluation framework consistent with applicable regulatory expectations and industry best practices, including principles derived from AML and financial crime frameworks. This role is anticipated to be actively involved in developing the framework in response to proposed AML regulations applicable to Registered Investment Advisors.
Essential Job Functions
Implement and maintain High Risk Client Framework
- Design and implement high risk client identification and evaluation framework
- Develop risk scoring methodology and high-risk criteria based on client risk indicators, regulatory obligations and firm risk thresholds
- Oversee enhanced due diligence-style reviews
Internal Employee & Advisor Risk Monitoring
- Monitor internal employee and advisor activities for elevated compliance risk
- Assess outside business activities and conflicts of interest
- Identify patterns and behaviors indicating increased risk
Heightened Supervision Oversight
- Design and manage heightened supervision plans
- Track adherence and escalating issues
- Ensure remediation and documentation
Business Practice Monitoring
- Monitor high risk business practices including onboarding, fees, and vendor relationships for conflicts of interest and inconsistent or suspicious activities
- Identify deviations from policy and emerging risk areas
- Participate in internal reviews based on customer feedback or internal escalations
Risk Assessment & Reporting
- Coordinate risk assessments and reporting