• Branch Inspection Compliance Officer/Manager

    ID
    2018-6742
    Job Locations
    US-CA-San Francisco
    Category
    Compliance
  • Overview

    First Republic is an ultra-high-touch bank that provides extraordinary client service. We believe that one-on-one interactions build lasting relationships. We move quickly to serve our clients’ needs so that their financial transactions are handled with ease and efficiency. Client trust and security are paramount in our line of business. Ultimately, our goal is unsurpassed client satisfaction which will lead to personal referrals – our number one source of new business.

     

    We recognize that our competitive advantage starts with our people and our culture. At First Republic, we work hard and move quickly as a very coordinated team. If you are looking for an opportunity to grow and contribute in a fun, fast-paced environment, First Republic is the place for you. We have exceptional people focused on providing extraordinary service.

     

    The general purpose of this position is to support the administration, development and execution of First Republic Securities Company, LLC’s (“FRSC”) Branch Inspection Program and First Republic Private Wealth Management's ("PWM") Compliance Testing Program.  Specifically, this role is responsible for conducting branch inspections and/or forensic testing to ensure that policies, procedures, and processes are adhered to throughout the FRSC branch footprint and within PWM. Branch Inspection reporting and testing results will provide verification that FRSC and PWM, respectively, are adequately complying with federal, state and SRO regulations.

     

    The PWM Branch Inspection Compliance Officer will work independently or with other team analyst(s) and associate(s) to complete the scheduled branch inspections and testing of compliance with regulations applicable to FRSC branches and PWM. He / She will effectively communicate his / her findings and recommendations and assist with validation projects as they arise. This role is vital to ensure success with internal and external compliance audits and/or regulatory examinations performed by the SEC, FINRA, and FDIC, among others.

    Responsibilities

    RESPONSIBILITIES AND DUTIES

     

    • Plan, perform and document FRSC branch inspections that include but are not limited to the examination of branch activities such as Sales, Trading, Cashiering, New accounts, Marketing etc.
    • Assist in the continuous development and management of the FRSC branch inspection program to address changes in the internal and external environment.
    • Discuss and review all potential branch inspection findings with Compliance Management and respective business line(s).
    • Complete preliminary findings drafts, issue review summaries, and discuss final reports for each completed branch inspection.
    • Work with compliance, business units, and data management personnel to establish appropriate and efficient sources for obtaining data.
    • Intelligently formulate data to visually reflect patterns and trends.
    • Research and remain current on new federal/state regulations that may impact the Broker-dealer and/or the Adviser with regard to new or changing compliance requirements.
    • Provide feedback and suggestions for process improvements and risk mitigation strategies.
    • Direct and track the implementation of branch inspection program changes and updates.
    • Develop, maintain and update branch risk assessments and branch inspection policies and procedures.
    • Ensure all branch inspection documents and files are complete and organized.
    • Demonstrate leadership in the marketplace and regulatory awareness and apply this knowledge to reviews, special projects, early-warning systems, and the overall operations of the team.
    • Act as ambassador for the team and help promote the culture of compliance.
    • Support team projects and administrative duties.
    • Assist with mentoring/on-boarding new team members.

     

    Responsibilities include the following: 1) adhering to and complying with all applicable, federal and state laws, regulations and guidance, 2) adhering to Bank, PWM and FRSC policies and procedures, 3) completing required training, 4) identifying and reporting potential suspicious activity, and 5) assisting with control evaluation and risk mitigation.

    Qualifications

     KEY SKILLS, KNOWLEDGE AND ABILITIES: 

     

    • Bachelor’s Degree in Business, Finance, Economics or other applicable business-related discipline.
    • Minimum 5 years of adviser or broker-dealer experience.
    • Minimum 2 years broker dealer branch operations, branch supervision and/or branch inspections.
    • Strong knowledge of federal and state regulatory requirements of a federally registered investment adviser is a plus.
    • Prior participation in industry groups related to Compliance is a plus.
    • Current FINRA registrations (S7, S24 or equivalent) a plus.
    • Detail oriented with strong analytical and writing skills.
    • Proactive and demonstrates strong leadership capabilities.
    • Strong working knowledge of Microsoft Office: Word, Excel, Visio, PowerPoint.
    • Ability to communicate effectively, both verbally and in writing to various audiences, while establishing strong working relationships with individuals and teams both inside and outside of the firm.
    • Solutions-oriented thinker.
    • Ability to identify deficiencies and recommend solutions to complex issues.
    • Ability to intelligently formulate data to visually reflect patterns and trends.
    • Ability to multi-task and successfully meet competing demands.
    • Must be self-starter and able to work with minimal day-to-day guidance.
    • Demonstrates strong (internal) customer service skills.
    • Orientation toward process improvement and the ability to think and work at both strategic and tactical levels.  
    • Strong individual contributor and team player.
    • Provides extraordinary service.
    • Furthers the First Republic Bank culture and values

     

    MENTAL/PHYSICAL REQUIREMENTS:

     

    • The ability to learn and comprehend basic instructions; understand the meanings of words and respond effectively; and perform basic arithmetic accurately and quickly.
    • Vision must be sufficient to read data reports, manuals and computer screens.
    • Hearing must be sufficient to understand a conversation at a normal volume, including telephone calls and in person.
    • Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions.
    • Position involves sitting most of the time, but may involve walking or standing for brief periods of time.
    • Must be able to travel as position requires (Approximately 40%).
    • May be required to lift 25-50lbs.

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