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Head of Funds Compliance (Morristown, NJ (Hybrid)

Company: Brighthouse Financial
Location: Morristown
Posted on: January 26, 2023

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'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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