Director, Alternative Investments Compliance

ID
2022-15418
Job Locations
US-CA-Los Angeles | US-NY-New York | US-CA-San Francisco
Category
Legal

 

At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here.

 

Incredible teams doing exceptional work, every day

First Republic Investment Management (“FRIM”) is a RIA with an affiliated Broker Dealer (First Republic Securities Company, LLC, “FRSC”) and a wholly owned subsidiary of First Republic Bank.  The Compliance Officer will be part of the Alternative Investments Compliance Team, which provides advice and guidance to business partners regarding the applicability of rules, regulations, controls, and policies and procedures as they pertain to alternative investments under FRIM’s private fund platform.      

 

Brief Description of Role:

FRIM’s private fund platform includes (1) FRIM’s proprietary “Eagle” private funds, which are generally structured as “feeder funds” (aka funds-of-funds) that invest in private funds managed by third-party investment advisers and (2) private funds managed directly by third-party investment advisers, where FRIM advisory clients make investments directly in the funds.  The Compliance Officer will be responsible and accountable for providing leadership in the day-to-day compliance support of our alternative investments business and supporting all compliance aspects of FRIM‘s advisory activities related to private funds.  As FRSC acts as placement agent to private investment funds that are advised by FRIM, the Compliance Officer will also work with the FRSC Compliance Team to monitor FRSC placement agent activities.  Compliance functions will generally include compliance monitoring and testing in relation to the alternative investments business, policy and procedure maintenance, risk management, due diligence, regulatory filings, reviews of marketing documents, and service provider oversight.  The Compliance Officer will be responsible for compliance monitoring under the enterprise-wide Volcker compliance program.  The Compliance Officer will also participate in a number of internal committees, interact with senior business leaders, and assist with internal and external audits and exams.

 

The ideal candidate will have previous senior compliance experience within a high-touch/high-client-experience-expectation organization, at an alternative investment fund (private equity or hedge). 

 

What you'll do as a Director, Alternative Investments Compliance:

  • Manage and implement the standards, practices, oversight and implementation of a highly effective alternative investments compliance program within a fast-growing Private Wealth Management Division
  • Provide compliance guidance to management, sales, operational, technical, and supervisory staff
  • Maintain and enhance compliance policies and procedures
  • Perform compliance and operational due diligence on private funds, their managers, and their service providers; manage the monitoring/oversight program for these entities
  • Educate and train staff on firm policies and procedures, including the Volcker compliance program as it pertains to alternative investments
  • Proactively identify and champion opportunities to improve compliance efficiencies and minimize risks
  • Participate in the firm’s alternative investments committees
  • Manage required regulatory filings related to the private funds
  • Review marketing documents for compliance with FINRA and SEC standards
  • Assist the FRSC Compliance Team with due diligence and policy and procedure updates, among other items as needed in relation to the alternatives investments business
  • Ability to manage other team members
  • Assist the CCO with special projects across FRIM’s advisory business
  • Work with leaders in the broader Legal and Compliance groups to strengthen enterprise-wide compliance efforts

 

You could be a great fit if you have:

  • Solid compliance, operational, and risk understanding of alternative investments and private funds, including hedge funds and private equity funds
  • Strong working knowledge of FINRA and SEC rules, federal securities regulations and securities industry practices relating to alternative investments
  • Excellent client focus, accurate and logical problem solving, and strong written and oral communication skills
  • Good team player; able to work well with team members and provide mentorship, training and necessary support to other members
  • Self-motivated. Ability to work independently, on multiple deadline-orientated tasks in a high energy environment, and to prioritize tasks based on regulatory/operating risk and business needs.
  • Strong interpersonal skills; ability to work with all levels of staff and Management
  • Build and maintain good relationships with internal and external business partners
  • Great organizational and time management skills
  • Ability to work under pressure and deliver assignments on schedule
  • Understanding of and experience with BSA/AML rules and banking regulations, including the Volcker Rule, a plus
  • Willing to periodically travel
  • 7-10 years of experience in the financial services industry
  • Willing to travel occasionally
  • Bachelor's degree or higher, MBA or JD a plus

We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic.

 

If you are curious to learn more about this opportunity, we'd love to hear from you.

 

Job Demands:

  • Must be able to review and analyze data reports and manuals; must be computer proficient.
  • Must be able to communicate effectively via telephone and in person.

 

Own your work and your career — apply now

Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career?  If so, then come join us.

 

We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability — that’s the First Republic way.

 

This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.

 

First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.

 

For New York City-based roles: Mayor Bill de Blasio announced that, effective December 27, 2021, all private sector employers?in New York City will be required to ensure that their employees are vaccinated against COVID-19 to attend work in the office. Reasonable Medical or Religious Accommodations may be requested if applicable to you. Please view New York’s Guidance on Accommodations for Workers for more information.

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