Head of Brokerage Compliance
- Malvern, PA
Advocate for all investors
At Vanguard we've built up over $6 trillion in assets by doing what's right for investors. 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. Known for our strong ethical business practices and client focus, Vanguard has a vibrant and multi-faceted business. In support of our innovative and highly regulated business lines, Vanguard's Compliance Department encounters a wide range of complex and compelling issues while providing exceptional, high-value business partnership and compliance support. In addition, Vanguard is an employer of choice that continually invests in the growth, development and success of its employees over the course of their Vanguard careers.
As a trusted leader, the Head of Brokerage Compliance will provide strategic direction to a dynamic team of compliance professionals focused on Vanguard's Retail Investor Group (RIG) division. The Brokerage Compliance team is charged with maintaining and enhancing an evergreen and comprehensive compliance program for the RIG/Vanguard Marketing Corporation's (VMC) brokerage business. Working for the Chief Compliance Officer, RIG and VMC, this compliance leader, directly and through a team, will support business operations and initiatives, identify and respond to ongoing regulatory changes, and implement required policies and procedures inclusive of appropriate operational and supervisory oversight within the business.
As a senior member of the Compliance team, you, directly or through your team, will...
- Lead the VMC brokerage compliance function with responsibility for the overall design, implementation and communication of compliance programs, policies and procedures, including the broker-dealer and transfer agent as holders of retail customer assets.
- Adopt and implement best practices to ensure optimal effectiveness of management and mitigation of regulatory and compliance risks, including driving collaboration and efficiencies between relevant compliance teams and partners throughout the enterprise.
- Play an impactful role partnering with stakeholders throughout the enterprise and engaging with members of Vanguard's Senior staff, including VMC's CEO-designee, and other senior leaders within the Office of General Counsel.
- Maintain an expert knowledge and awareness of the investment industry, the current financial market, regulatory and industry relevant news and serve as an expert and key resource related to compliance matters.
- Maintain and cultivate a team-oriented culture for efficiently and effectively managing regulatory risks, including by fostering strong relationships with the legal, risk and other support compliance functions.
- Evaluate and supervise employees on the brokerage compliance team (Crew) by setting performance standards, reviewing performance, and making informed compensation decisions in accordance with all applicable Human Resources policies and procedures.
- Provide strategic leadership, guidance and training, as necessary, to Crew.
- Oversee preparation and coordination efforts leading up to regulatory visits, serving as a primary liaison between the business and regulatory agency staff.
- Manage the operational effectiveness of VMC brokerage compliance's framework and policies for managing regulatory risk.
- Oversee and implement processes that are proactive and preventative, ensuring regulatory changes are addressed completely and consistently across the organization.
- Oversee brokerage compliance's risk assessment process and lead implementation of action plans to appropriately mitigate residual risks.
- Analyze emerging trends and regulatory issues and allocate responsibility for responding to those risks.
- Develop and evolve processes, where required, to ensure that the brokerage compliance teams's performance is measured through appropriate monitoring and testing activities, and the results of such activities are recorded and escalated as appropriate.
- Provide support and general direction regarding regulatory inquiries, sweeps and/or exams with respect to the business areas within brokerage compliance's purview.
- Establish and maintain key compliance risk indicators, measures and reporting metrics for brokerage compliance.
- Periodically review the performance and effectiveness of the brokerage compliance program.
- Perform other duties and responsibilities as assigned.
- A deep and varied understanding of financial markets and products.
- Advanced knowledge of FINRA, SEC, state and other regulatory requirements applicable to a self-clearing broker-dealer and transfer agent holding retail investor securities.
- Attention to detail, while maintaining a big picture orientation.
- Ability to work under pressure on multiple tasks concurrently and meet deadlines in a fast-paced work environment.
- Mastery of appropriate interpersonal styles and ability to communicate effectively, both orally and in writing, with all levels within the enterprise.
- Ability to provide leadership and professional guidance to a geographically dispersed team, with the ability to attract, advance and retain top talent.
- A partnership-focused philosophy to accomplish objectives.
- Minimum of 10 years related work experience. Supervisory experience preferred.
- Bachelor's degree or equivalent combination of training and experience.
- FINRA Series 7 and 24 (must obtain within 6 months if not currently held).
We are Vanguard. Together, we're changing the way the world invests.
For us, investing doesn't just end in value. It starts with values. Because when you invest with courage, when you invest with clarity, and when you invest with care, you can get so much more in return. We invest with purpose - and that's how we've become a global market leader. Here, we grow by doing the right thing for the people we serve. And so can you.
We want to make success accessible to everyone. This is our opportunity. Let's make it count.
Vanguard's continued commitment to diversity and inclusion is firmly rooted in our culture. Every decision we make to best serve our clients, crew (internally employees are referred to as crew), and communities is guided by one simple statement: "Do the right thing."
We believe that a critical aspect of doing the right thing requires building diverse, inclusive, and highly effective teams of individuals who are as unique as the clients they serve. We empower our crew to contribute their distinct strengths to achieving Vanguard's core purpose through our values.
When all crew members feel valued and included, our ability to collaborate and innovate is amplified, and we are united in delivering on Vanguard's core purpose.
Our core purpose: To take a stand for all investors, to treat them fairly, and to give them the best chance for investment success.
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