Head of Funds Compliance (Morristown, NJ (Hybrid)
Company: Brighthouse Financial
Location: Morristown
Posted on: January 26, 2023
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Job Description:
Req Id: 4382Job location: Morristown, NJ, US, 07960Req Id:
4382Work Location:Our hybrid workplace model offers the freedom to
work fully remote or occasionally in one of our offices. This is a
remote position with a hybrid option for candidates based in
Morristown, NJ.How This Role Contributes to Brighthouse
Financial:As Head of Funds Compliance, you will be responsible for
leading a dedicated team that administers the compliance programs
for Brighthouse Financial's registered mutual funds, the
Brighthouse Funds, and their affiliated investment adviser,
Brighthouse Investment Advisers, LLC. This team carries out the
day-to-day administration of the compliance programs for these
entities, as required by Section 38a-1 of the Investment Company
Act of 1940 and Rule 206(4)-7 of the Investment Advisers Act of
1940.This leader will oversee the Brighthouse Funds' compliance
program, stay abreast of the regulatory environment, develop
appropriate policies and procedures to ensure compliance with
applicable laws, conduct an annual review of the effectiveness of
the compliance program, draft an annual compliance report for all
pertinent regulated entities, and prepare and present compliance
reports to assist the Brighthouse Funds Board of Trustees discharge
their obligation to oversee the control environment of the Funds
and their 35+ Subadvisers and service providers.This leader will
manage a team of compliance professionals that carries out many of
the day-to-day tasks required to maintain an appropriate compliance
program for this business unit. The group ensures that the outside
business partners, including the Funds' Subadvisers, third-party
administrator, custodian, and other service providers are complying
with their policies and procedures and certain policies and
procedures of the Funds through a disciplined program of
monitoring, testing, and ongoing compliance oversight.A critical
component of this role is the need to provide ongoing reporting
regarding all compliance aspects of the Brighthouse Funds' business
to an active, independent Board of Trustees. This aspect of the
position requires a high degree of subject matter expertise, the
ability to concisely articulate compliance risks and issues, a keen
attention to detail, and the ability to respond to questions from
the Board's Trustees with confidence and clarity.Key
Responsibilities:Lead the Brighthouse Funds Compliance team in the
ongoing administration of its compliance program and the ongoing
monitoring activities associated therewith.Carry out the compliance
priorities of the Brighthouse Funds Board of Trustees and report to
the Board on progress toward such priorities on a quarterly
basis.Promote a culture that encourages ethical conduct and a
commitment to regulatory compliance.Draft and present quarterly
compliance reports to the Brighthouse Funds Board of Trustees on
all compliance matters related to the Funds.Provide ongoing
training on relevant topics of regulatory compliance to associates
of Brighthouse Investment Advisers and to the Trustees of the
Brighthouse FundsMaintain compliance policies and procedures, as
required by Rule 38a-1 of Investment Company Act of 1940 and Rule
206(4)-7 of Investment Adviser Act of 1940, for Brighthouse's
registered mutual funds and their investment adviser. Revise and
update compliance policies and procedures as needed.Prepare
memoranda of changes and present changes to mutual fund Board for
approval. Monitor and test the effectiveness of compliance policies
and procedures on an ongoing basis.Serve as key control leader in
connection with the operation of the Brighthouse Funds.Provide
ongoing reporting of operational risk environment to the
Brighthouse Funds Board of Trustees.Oversee personal securities
trading activity and reporting for Brighthouse Investment Advisers
and all Subadvisers.Report compliance violations to the Board of
Trustees and ensure corrective actions are appropriate.Coordinate
Subadviser and service provider compliance programs which includes
developing a comprehensive due diligence questionnaire, overseeing
due diligence meetings for the 35+ Subadvisers, managing the
resolution of material compliance matters as they arise, and
providing ongoing reporting to the Board of Trustees.Annually
review the effectiveness of the Compliance program of the
Brighthouse Funds, Brighthouse Investment Advisers, and all service
providers to the business, and compile the findings in an annual
compliance report for senior management and the Brighthouse Funds
Board of Trustees. Implement any changes that need to be addressed
based upon findings documented in the annual compliance
report.Oversee the trading operations of the Funds' Subadvisers
through ongoing analysis of trade cost analysis reports, affiliated
transaction reporting, and ongoing meetings with the head traders
of the Subadvisers.Play key role in connection with evaluation of
submissions during the Section 15(c) contract renewal
process.Participate as a member of the BIA Executive Committee and
provide compliance advice regarding pricing, derivatives, and
portfolio management issues that arise.Interface with regulators
who have jurisdiction over this business, such as SEC and CFTC.
Manage regulatory inquiries and examinations.Develop and nurture
talent by understanding each team member's career aspirations and
providing advice and direction to ensure direct reports are growing
in their careers.Research shows some people may not apply for a
role if they don't check all the boxes of a job description. If you
don't check every box listed, that's okay. We would love to hear
from you.Essential Business Experience and Technical
Skills:Bachelor's degree. JD or MBA helpful, but not required10-15+
years of related experience in the mutual fund industry.Experience
as a CCO of a mutual fund complex or institutional investment
adviser, a plusExperience as an SEC examiner with investment
adviser or investment company exam experience, or experience as a
member of an investment adviser or mutual fund compliance
department who is familiar with compliance issues that are a
priority for federal regulators.Board Room demeanor. Ability to
converse at an expert level on compliance matters related to mutual
fund businessExpert knowledge of mutual fund business, including
compliance culture, portfolio management, trading, conflicts of
interest, and operations.Strong relationship management skills
needed to manage internal and external relationships necessary to
maintain an effective compliance program.Strong organizational
skills and inquisitive nature.Excellent analytical and research
skillsExcellent written and verbal communication skills, including
the ability to prepare and conduct presentations and communicate
with senior management and a distinguished Board of TrusteesStrong
interpersonal, management, leadership, and motivational skillsMust
be a dedicated, self-motivated individual with an ability to work
independently and in a team environmentResults-oriented,
performance-based leader who will produce results based on stated
goals and objectives and ensure that individuals in the
organization are similarly results orientedAbility to assess risk
and communicate results of monitoring and testing to management and
BoardAbility to analyze risks and controls and determine when
controls are not operating effectivelyOur Benefits:Compensation -
Base salary ranging from $250,000-$300,000 plus competitive
performance-based incentives determined by company and individual
resultsFlexible Work Environment - Work fully remote or
occasionally in the office to better thrive in all areas of
lifePaid Time Off - Recharge with a minimum of 20 days of paid time
off and 16 paid company holidays per calendar year plus paid
volunteer time and paid study timeFinancial Health - Work toward
achieving your financial goals through our 401(k) savings plan with
company match (up to 6%) and annual company nondiscretionary
contribution (3%), 15% employee stock purchase plan discount, and
financial counseling servicesHealth and Wellness - Enjoy
competitive medical, vision, and dental plans plus tax-free health
savings accounts with potential company contributions up to $1,000
per familyFamily Support - Care for loved ones with up to 16 weeks
of paid leave for new parents, back-up dependent care, dependent
care flexible spending account, and reimbursement up to a $25,000
lifetime maximum during your adoption, infertility, or surrogacy
journeyLife and Disability Support - Gain access to company-paid
basic life insurance and short-term disability insuranceWhy join
us?Brighthouse Financial is on a mission to help people achieve
financial security. Our company is one of the largest providers of
annuities and life insurance in the U.S.,* and we specialize in
products designed to help people protect what they've earned and
ensure it lasts.We empower employees to collaborate and create
space for people to bring their passion to work and make an impact.
Our inclusive work environment fosters a culture that celebrates
diverse backgrounds and experiences. You can find out more about
our company culture by visiting
brighthousefinancial.com/about-us/careers/.We're proud to be a
FORTUNE - 500 company** and recognized as one of Charlotte's
Healthiest Employers by the Charlotte Business Journal. We're also
honored to be named to Newsweek's inaugural list of America's Most
Trusted Companies.*Ranked by 2020 admitted assets. Best's Review -:
Top 200 U.S. Life/Health Insurers. A.M. Best, 2021.**From FORTUNE -
2022 Fortune Media IP Limited. All rights reserved. Used under
license. FORTUNE and FORTUNE 500 are registered trademarks of
Fortune Media IP Limited and are used under license. FORTUNE and
Fortune Media IP Limited are not affiliated with, and do not
endorse the products or services of, Brighthouse
Financial.PI202015847
Keywords: Brighthouse Financial, Newark , Head of Funds Compliance (Morristown, NJ (Hybrid), Other , Morristown, New Jersey
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