Manager, Investment Compliance and Operational Risk (0328)
University of California Office of the President
December 23, 2017
Manager, Investment Compliance and Operational Risk (0328)
University of California Office of the President
Requisition Number: 20170580
Appointment Type: Staff - Career
Personnel Program: MSP
Work Hours: Monday - Friday, 8:00-5:00
Percentage of Time: 100
Organizational Area: Office of the Chief Investment Officer
Location: Oakland, CA
Posting Salary: Salary commensurate with experience.
Position Summary: The Manager of Compliance will be accountable for overall management and administration of the Office of the CIOs $100 billion compliance and operational risk management program. The Manager will be expected to provide compliance expertise, monitoring, support, guidance and leadership in setting the direction for the compliance and Anti-Money Laundering (AML) program and interacting with senior members of risk, compliance, legal and other oversight functions across the Office of the CIO and the broader University of California system.
The Manager of Compliance will have a significant role in protecting the interests of the more than 300,000 participants and members of our Defined Benefit and Defined Contribution products. To ensure the preservation of the University of California's reputation for excellence, the successful candidate must demonstrate superior work ethic and leadership ability, commitment to our values, and high quality assurance standards.
The Manager is also accountable for managing service providers and regulatory filing requirements of the various asset classes across the numerous products. In addition, the successful candidate will have experience developing and implementing personal trading and other investment management 'best practice' programs.
The Manager develops and implements strategies and programs to meet changing demands and ensures protection and consideration of the public interest. Applies broad spectrum operational risk management practices including the development of best in class operational due diligence practices.
The Manager is also responsible to ensure compliance with key Regents polices, including
Series 6000: Investment Matters
- 6101: Investment Policy Statement for UCRP - 6102: Investment Policy Statement for General Endowment Pool - 6103: Policy Establishing the Investment Advisory Group - 6104: Policy on Conflict of Interest Regarding Assets Managed by the Treasurer - 6105: Policy on Disclosure of UCRP and GEP Investments-Related Information - 6106: Policy on Total Return Expenditure on Regents' General Endowment Pool Assets - 6107: Policy on Endowment Administration Cost Recovery on Regents' Assets - 6108: Total Return Investment Pool Policy Statement - 6109: Short Term Investment Pool Investments Guidelines - 6110: Policy on Disclosures Regarding Use of Placement Agents for the University of California Retirement System Investments - 6111: Investment Policy Statement for UC Retirement Savings Program - 6201: Investment Policy for the University of California Campus Foundations - 6301: Policy to Exclude Securities of Companies Manufacturing Tobacco Products from Index Funds and to Continue Existing Exclusion from Actively Managed Funds - 6302: Policy on Divestment of University Holdings in Companies with Business Operations in Sudan
Special Conditions of Employment: Travel Travel outside of normal business hours
Other Special Conditions of Employment: Successful completion of a background check is required for appointment to this critical position.
Job Close Date:
Duty 10: Directs the overall Investment Compliance and Operational Risk Management program at the $100 billion Office of the Chief Investment Officer.
This includes developing a compliance program for the various products, including UCRP, GEP, TRIP, STIP and UCRSP. This in effect becomes managing 5 different compliance programs as the regulations rate driven by the different investment policy statements.
Provides general compliance advice, support and training to senior management and OCIO employees on matters pertaining to investment management compliance, compliance of applicable Investment Policy Statements, anti-money laundering, potential divestment rules and promotes a culture of compliance and operational risk management.
Accountable for all compliance program components including risk assessment and prioritization, identification of applicable standards; communication of those standards through policies, procedures and training; monitoring, testing and surveillance; escalation to management and advice on remediation.
Accountable for the design, implementation and continual enhancement of the compliance program; interact frequently with management to ensure their expectations, as well as those of the UC Regents, Committee on Investments and other stakeholders are met.
Evaluate current business process to identify the applicability of regulations to the business unit and/or product.
Provide recommendations for remediation of any identified audit or other testing exceptions or deficiencies and collaborate with the business to follow up on the remediation activities. Function:Management of Investment Compliance and Operational Risk Program Percent: 30
Duty 20: Accountable for managing the operational due diligence efforts of the OCIO. This is an important role that provides critical information as investment transactions are being considered.
Execute all oversight and reporting responsibilities of the compliance program and operational risk management program, to the Chief Investment Officer and other governing bodies.
Foster strong partnerships with other support functions whose teams execute required compliance program components, including valuation and accounting services.
Gather information for and assist with preparation of regulatory filings including but not limited to: Exchange Act Filings, 13F, 13D, 13G, Form 3, Form 4, NFA/CFTC Filings as well as FATCA related documentations and filings.
Review current regulatory research publications to ensure compliance with all legal and regulatory obligations for OCIO products and services.
Be the OCIO point person for regulatory queries. Function:Accountability and Compliance Percent: 25
Duty 30: Responsible for updating and maintaining compliance policies and procedures ('CPPs') to ensure compliance with applicable rules and regulations and industry best practices.
Ensure activities are being performed in accordance with policies and procedures and support testing of CPPs, including validation and documentation of controls; identify and recommend improvements as deemed necessary and create ad-hoc policies and procedures as needed.
Assist with administration of the Code of Ethics, including pre-clearance approval requests, surveillance, initial, annual and quarterly certifications.
Be the point person for the OCIO AML program as the AML officer and Assist with implementing the anti-money laundering policies and procedures for the OCIO.
Assist with money laundering related queries/questionnaires requests. Function:Policies and Procedures Percent: 20
Duty 40: Provide timely and clear guidance to the CIO and other stakeholders on compliance and regulatory matters and recommendations regarding potential solutions to issue.
Coordinate with various groups to ensure regulatory filings are timely and accurately completed.
Perform legal review of confidential agreements, vendor contracts and transactional documentation as necessary. Function:Guidance on Regulatory Matters Percent: 10
Duty 50: Operational Risk Management: Participating in the ongoing implementation of the operational risk framework throughout the OCIO and providing guidance and leadership to ensure compliance requirements. Reviewing and analyzing operational risk event data: identifying the root cause of control breakdowns and recommending enhancements to the control environment. Collaborating closely across the OCIO to reinforce risk ownership and accountability, and enhance the control environment.
Maintain the integrity of the Firm's Information Barriers and facilitate wall crossings when appropriate. Function:Risk Management Percent: 15
Job Requirements Bachelor's degree with at least 5 years' experience in financial services or an asset owner and/or equivalent experience.
Comprehensive and advanced knowledge and understanding of all areas of Compliance and operational risk management with an emphasis on Dodd Frank regulatory compliance.
Advanced management skills to effectively lead and direct a comprehensive Compliance and operational risk management program.
Advanced written, verbal and interpersonal communications skills to effectively address complex and potentially sensitive subject matter, including expertise and skill to interact successfully with a diverse array of technical, scientific, legal, political, and public entities.
Ability to develop effective working relationships and influence, inform and persuade constituents at all levels within an organization Strong organizational skills with a proven ability to multi-task and manage simultaneous projects while also accountable for a high volume of individual work product in a deadline driven work environment.
Advanced ability to be a change agent.
Advanced management skills to effectively lead and direct a comprehensive 'best practice' personal trading and investment management practices.
General understanding of AML issues and AML suspicious activity transaction monitoring systems, data mining/analytical tools, and KYC automated solutions is helpful. Required
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The University of California is an Equal Opportunity/Affirmative Action Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, age or protected veteran status.
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