Wealth Management Compliance Professionals

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