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Wealth Management Compliance Professionals

The Job

Job duties for compliance professionals vary by employer, job title, and other criteria, but most perform the following duties:

  • overseeing the firm’s registrations and annual filings with the Financial Industry Regulatory Authority and the Securities and Exchange Commission, as well as state notice filings
  • developing and implementing a compliance risk management program that identifies and manages compliance risks
  • providing advisory support to wealth managers, partners, risk managers, and information technology professionals on regulatory rules
  • assisting in regulatory reviews—including internal audits, exams, and inquiries—to ensure that compliance procedures are followed
  • designing and overseeing compliance training programs for the firm’s employees
  • working with the legal department to identify and analyze emerging legal and regulatory issues
  • discussing current or emerging compliance issues with the firm’s management
  • maintaining databases of the firm’s compliance activities (such as complaints received, the firm’s responses, and investigation outcomes)
  • reviewing communications such as securities sales advertising to make sure that there are no violations of regulations
  • staying abreast of regulatory developments by reading industry publications and reports and press releases from regulators  
  • using reporting, compliance program management, portfolio monitoring, electronic communication archiving and review, and other software to collect information for regulatory filings and firm records
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