Business Risk Manager
This position offers an opportunity to have a wide range of business management responsibilities and to be an integral part of a close-knit firm.
The ideal candidate is a highly detailed-oriented professional with a curious, analytical, and forward-thinking mind. Having 3-6+ years of controls, reporting, and/or compliance experience in the financial services industry is a plus. Specifically, experience in administering a regulatory compliance program applicable to 1940 Act and/or private funds, is highly preferred. This position will support the ongoing identification, assessment, monitoring, and aggregation of key risks and risk responses and connecting the dots across the organization.
This role is also operations-focused and will cover a wide breadth of responsibilities. The candidate will help drive the firm toward operational excellence and should have curiosity to learn all aspects of the business’s operations, from the intricacies of mutual fund management—to our computer networks and cybersecurity program—to selecting great vendors to run a commercial building. The ideal candidate will be comfortable with a small firm environment and a relatively flat organizational structure, where everyone is willing to get their hands dirty with the smallest of tasks to ensure the betterment of the company as a whole. A true team player.
The candidate should have the ability to foster strong relationships with employees and our business partners, garner support for policy changes and project initiatives, and be highly communicative.
Responsibilities will include the following:
Risk management (60%)
- Monitor compliance with policies, procedures, and protocols, driven by SEC and FINRA regulations, including the personal trading and certifications system, restricted trading list, anti-money laundering (“AML”), soft dollar, best execution conflicts of interest, etc.
- Identify any necessary improvements in communication, monitoring, or enforcement of compliance standards, and provide recommendations for process improvements.
- Monitor the ever-changing regulatory legislation, working with outside legal counsel, our compliance adviser, and the CCO to document any related changes to compliance policy and procedures.
- Organize, prepare, and document the materials associated with annual reviews, FINRA reviews, or SEC reviews.
- Understand the firm’s portfolio management processes and monitor trades for compliance with client investment objectives/restrictions and regulatory policies.
- Assist in the administration of the Adviser’s liquidity risk management program, including daily monitoring and reporting.
- Execute the firm’s proxy voting program, tracking the Adviser’s proxy voting commitments and reviewing the associated proxy vote reports.
- Review recurring mutual fund filings like the Annual Report, Semi-annual Report, N-PORT, etc.
- Contribute to the development of appropriate reporting deliverables for firm executives and fund Board members.
- Manage the firm’s vendor due diligence program, complete annual reviews and identify vendor risks and risk mitigation strategies. Partner with a third-party compliance consultant, as needed.
- Perform periodic audits of separately management account files and system data.
- Review client invoices to ensure that all advisory fees are properly calculated.
- Monitor social media channels, electronic communications, and website for compliance with firm procedures.
- Maintain and monitor a calendar of reporting due dates.
- Coordinate, deliver, and track firm-wide trainings such as Code of Ethics, Insider Trading, AML, and cybersecurity.
- Attend professional conferences and participate in continuing education training.
Technology controls and operations (30%)
- Drive an effort to document the firm’s operations in Smartsheet to create a playbook that covers all operational processes including accounting, marketing, fund reporting, customer relationship management, and compliance.
- Gain a deep understanding of the firm’s information systems, including network and software design, as well as information processing, storage, transmission, retrieval, and disposal; and evaluate potential threats and the sufficiency of associated safeguards.
- Serve as the on-site IT specialist and liaise with our outsourced CTO group.
- Manage the inventory of, as well as monitor physical safeguards in relation to, firm property including computers, mobile devices, and data storage equipment.
- Participate in system implementations or changes to ensure adequate controls are incorporated, change control guidelines are followed, and process changes are documented.
- Manage the firm’s third-party vendor contracts and renewals.
- Maintain visibility into file sharing platforms across the organization.
- Develop efficiencies for document review and retention.
Marketing support (10%)
- Review marketing collateral updates and website for compliance with SEC and FINRA Rules.
- Assist the marketing and distribution team with one-off marketing projects, such as the creation of additional marketing collateral or completing due diligence questionnaires from prospective or current clients.
- Perform and reconcile data feeds to our customer relationship management system from our portfolio reporting and accounting software.
- Implement a data hygiene program for our customer relationship management system.
Individual Core Competencies:
Adaptable, personable, very communicative, team player.
Highly detailed with a curious, analytical, and forward-thinking mind.
Unwavering desire to produce a high-quality product.
Radiates professionalism and of utmost integrity.
IT and business system savvy.
Education and Experience:
- Undergraduate degree (management information systems, risk management, accounting, or related field)
- Financial services experience, particularly asset management highly preferred
- Proven ability to plan and execute projects
- Internal Controls documentation and testing a plus
- High proficiency with Excel and manipulation of large amounts of data
- Proficient with rest of Microsoft 365 suite
- Excellent communication and interpersonal skills
- Demonstrated forward thinking and analytical skills
About the Firm:
The company is a boutique investment management firm that manages approximately $14B of institutional and individual client assets through a mutual fund, hedge fund, and separately managed accounts.
The firm employs a disciplined investing strategy where they invest in a small number of what they believe to be extraordinary businesses that are run by talented and honest managers who wisely reinvest free cash flow. They call this intuitive, enduring approach the “three-legged stool.” The firm’s investment objective is to compound their investors’ capital at above-average rates of return over extended periods of time, while incurring a below-average level of risk.
The firm consists of a small team of curious, open-minded, and passionate investors and professionals who are energized by what they do and how they do it. Although functions are discreet in certain respects, most employees are involved in multiple aspects of the business and have evolving roles. The firm believes their close-knit culture has had an important hand in the results they have achieved on behalf of their clients.
Located in Middleburg, Virginia, the firm follows the guiding principle, “Keep things as simple as possible, but no simpler.” As one drives past wineries, historic mills, and horse farms with fieldstone fences to get to the office, one might ask, “Why Middleburg?” The firm likes to say that it makes everything a bit simpler. The firm is both philosophically and geographically removed from Wall Street, yet close to DC and three international airports to reach clients.