Compliance Director, Retail Advice

Financial integrity from the inside out Vanguard's core purpose is to take a stand for all investors, to treat them fairly, and to give them the best chance for investment success. In support of our innovative, multi-faceted and highly regulated business lines, Vanguard's Advice Products and Services team encounters a wide range of complex and compelling issues while providing exceptional, high-value business partnership and compliance support.

To support its growing and evolving service offerings, Vanguard seeks a highly skilled senior compliance professional to lead a compliance team supporting our advice service businesses and trust services business.

The ideal candidate will have strong, practical knowledge of the Investment Advisers Act of 1940 and the Employee Retirement Income Security Act of 1974 (ERISA), as well as knowledge and understanding of Office of the Comptroller of Currency (OCC) regulations, and a minimum of 8 years of supporting retail and retail investment advice / wealth management businesses. Broad knowledge of advisory, banking, and trust company regulations will complement the required skills.

Responsibilities

• Partner with business leaders on the design and execution of new and evolving advice services or capabilities, including changes to operating models, platforms, and service delivery, ensuring regulatory considerations are embedded early.
• Serve as a trusted advisor to Vanguard's advice businesses. Work collaboratively with the businesses to develop policies, procedures and controls designed to ensure compliance with applicable laws and regulations.
• Reinforce first-line risk ownership by advising business partners on regulatory expectations while holding teams accountable for control design and execution.
• Present key findings and recommendations to business and Compliance management. Elevate issues, identify priorities. Track follow-up items to ensure they are appropriately resolved. Demonstrate initiative and creativity in independently recommending and implementing solutions to business contacts and senior leaders.
• Foster lines of communication between, and with, business leaders, the Legal Department, Compliance Department colleagues, Risk, and other control groups. Coordinate activities and efforts as required with other Compliance teams and global partners.
• Develop, maintain, and demonstrate a thorough understanding of all regulations that are applicable to Vanguard's advice and wealth management businesses; monitor developments, proposed rule changes and amendments in applicable rules and regulations, assess the potential impact to Vanguard's operations, and coordinate implementation of rules that are adopted or finalized.
• Manage, coordinate, and ensure readiness for regulatory examinations. As appropriate, act as a liaison with regulators and impacted business areas by preparing for meetings and coordinating the gathering and production of requested documents in connection with examinations or other regulatory inquiries.
• Manage a team of compliance professionals. Provide coaching, guidance, and training to help develop team members. Set performance standards, review performance, and provide feedback to team members.
• Seeks to continually assess and enhance compliance policies, procedures, and controls specific to the business unit. Directs team activities and partners closely with business unit leaders during the implementation of compliance standards and practices with respect to business initiatives and new product launches.
• Manage cross-department initiatives and serve as an expert and key resource related to compliance issues.
• Provide compliance leadership for large-scale, cross-functional initiatives, including technology enablement, vendor implementations, and process redesign.

• Minimum of eight years' experience in compliance, legal, or risk functions supporting retail investment advice and/or wealth management businesses.
• Demonstrated people leadership experience, including building and developing high-performance teams.
• Knowledge of SEC and OCC regulations required; FINRA knowledge desired.
• Experience supporting regulatory exams, remediation efforts, and enterprise initiatives across SEC- and/or OCC-regulated entities.
• Undergraduate degree or equivalent combination of training and experience.
• This job does not require regulatory licenses and/or registration (e.g., FINRA, state) but licenses are helpful.