Director of Portfolio Compliance
Company: Loomis, Sayles & Company
Location: Boston
Posted on: May 17, 2024
Job Description:
Loomis Sayles is a performance-driven active asset management
company that seeks to identify exceptional investment opportunities
on behalf of institutional and retail clients worldwide. We believe
active management fueled by proprietary, best-in-class research
helps us achieve financial success for our clients. Founded in
1926, Loomis Sayles currently oversees approximately $310 billion
in assets under management for global clients spanning more than 50
countries. We foster a culture of entrepreneurialism, where all
employees are empowered and encouraged to develop themselves and
their ideas. Our culture centers on our shared IDEALS , the core
characteristics of who we aspire to be as employees and an
organization. I NCLUSIVE & DIVERSE - D EDICATED TO TEAMWORK - E
XCELLENT - A CCOUNTABLE - L EADERS - S OLUTION-ORIENTED
Loomis Sayles is committed to the continual improvement of our
performance, processes and people. As part of this commitment, we
are looking to hire an enthusiastic and passionate candidate, eager
to contribute to our continued success through the following
employment opportunity: About the Role Loomis Sayles has as opening
for a Director of Portfolio Compliance. The Director of Portfolio
Compliance will report to the Deputy Chief Compliance Officer
("Deputy CCO") and will be an integral part of the Legal and
Compliance Department ("Department"). The Department has a Charles
River Development ("CRD") Compliance Group with XX compliance
professionals whose primary responsibility is to oversee the firm's
compliance with its clients' investment guidelines and restrictions
through CRD. In addition to the oversight of new and amended client
guidelines of existing product lines, there is a need to ensure
that the firm takes prompt and appropriate action to address
potential or actual violations of client guidelines in order to
protect the client's best interest, and to mitigate the firm's
liability for such. The Director of Portfolio Compliance will work
closely with the other Directors in the Compliance Group to manage
the CRD Compliance Group, and to implement new compliance
initiatives for the firm by managing ad hoc projects for the group
that enhance existing or implement new functionality in CRD . Job
Responsibilities
- Directly supervising Compliance staff
- Manage a project to audit the guidelines coded in CRD with
internal global compliance resources
- Manage the projects that are identified through the guideline
coding review to ensure that the issue does not exist in other
client accounts
- Manage the process that independently reviews the new account
set up, cap adds and withdrawals, and TIKs to ensure that timely
reviews are being conducted and enhancements are being made to firm
processes, where appropriate
- Manage projects for CRD related projects under his/her direct
reports by ensuring that the projects satisfy required deadlines
and its intended objectives to minimizes firm risk
- Maintain Compliance Manual Procedures, including, but not
limited to Compliance Program Summary, Client Investment Guideline
Compliance Policies and Procedures,Cover Policies and Procedures,
etc.
- Maintain Desktop Procedures for the CRD Compliance Group
- Maintain Monthly CCO reporting and conduct analysis to
determine if the work is allocated fairly and make workflow
enhancement changes, where necessary
- Maintain the outstanding issues matrix and follow up with the
Investment Teams and Client Service on any outstanding issues that
may require amendments to the client guideline and/or offering
documents
- Work with Portfolio Managers, Portfolio Specialists, Traders
and/or Client Service Representatives to cure guideline issues in a
manner consistent with Loomis' fiduciary duty to its clients and
draft error notification letters
- Conduct error analysis and statistics for the CRD Compliance
Team and draft quarterly error memos for the Chief Compliance
Officer and Deputy CCO and make recommendations for enhancements in
problematic areas
- Analyze and oversee implementation of domestic and foreign
regulations and sanctions
- Review new issue prospectus documents for client
eligibility
- Review Investment Company, Investment Adviser and ERISA
regulations for investment eligibility requirements
- Periodically attend client meetings to discuss Compliance
Department processes and initiatives Qualifications & Education
Requirement
- Bachelor's degree in a business related field. MBA or JD
preferred
- Minimum of 15 years of asset management compliance
experience
- Minimum 5 years of supervisory experience managing compliance
professionals on an automated guideline compliance team at an asset
management firm
- CRD Compliance System rule coding skill is required
- Minimum 5 years of project management experience, including
understanding of dependencies, the ability to work well with others
and to require that they complete their tasks in a timely fashion
in order to meet project deadlines
- Strong knowledge of fixed income securities and equities is
required
- Must have experience in reviewing offering documents
- Must be detail-oriented, strong written and oral communication
and organizational skills
- Must have ability to work both independently and in a team
environment to work effectively with other members of the
Department and senior members of other departments within Loomis in
a collaborate manner
- Must be able to trouble shoot and problem solve while balancing
the needs of all parties involved to keep projects moving to
completion
- Must have exceptional follow up skills and the ability to
prioritize work in order to efficiently meet all deadlines
- Must have a positive attitude towards working in a fast paced
environment with multiple deadlines and must also be able to
quickly adapt to changing priorities and direction
- Must have good judgment in knowing when to escalate issues to
the Deputy CCO
- Must have knowledge of the Investment Company Act of 1940,
Investment Advisers Act of 1940 and ERISA regulations
- Must have strong computer skills, including competence with
Excel, Word and Bloomberg Hybrid Working Schedule
- Work from the Boston office location on Tuesdays, Wednesdays
and Thursdays
- Work from home on Mondays and Fridays
- Hybrid work schedule is subject to change based on Senior
Management discretion EEOC and Diversity S tatement
Loomis Sayles is deeply committed to building a diverse and
inclusive workforce in which talented individuals can realize their
full potential and contribute to our growth and success. Please
consider applying for this role even if your work history and
skillset doesn't completely match the job description. We believe
creativity, tenacity and humility are as valuable as specific
skills that can be practiced and perfected on the job. We are an
Equal Opportunity Employer and do not discriminate against any
employee or applicant for employment because of race, creed, color,
gender , age, national origin, religion, sexual orientation, gender
identity, status as a vete ran, and basis of disability or any
other federal, state or local protected class.
#J-18808-Ljbffr
Keywords: Loomis, Sayles & Company, Billerica , Director of Portfolio Compliance, Executive , Boston, Massachusetts
Didn't find what you're looking for? Search again!
Loading more jobs...