Director of Investment Compliance
Who we are
The State Board of Administration of Florida (SBA) is the investment organization managing the assets of the Florida Retirement System (FRS) and other funds. With more than $200 billion in total assets under management, the SBA is one of the largest institutional investors in the world. A key responsibility is the management of the FRS Pension Plan, the 5th largest public pension fund in the U.S. Year after year, the SBA is able to accomplish sound, long term investment returns above benchmark, while always keeping our beneficiaries’ interests at the forefront of our actions.
At the SBA we recognize that our talented colleagues drive our sophisticated investment strategies, prudently balance risk and reward, and generate above-benchmark returns while adhering to the highest professional and fiduciary standards. It is vital to maintain the trust of the employees and beneficiaries of the funds we oversee. The SBA is committed to seeking individuals who will enhance our team by contributing to our knowledge pool while adhering to the ethics and integrity that underscore our investment strategies and management.
What we need
The SBA is recruiting a Director of Investment Compliance in the Risk Management & Compliance department. This role is responsible for leading and overseeing the SBA’s investment compliance program, supporting all aspects of investment compliance initiatives and day to day matters related to investment compliance, ensuring the SBA is in compliance with all laws, regulations, fund and account requirements.
Responsibilities include but are not limited to:
- Providing direct oversight to ensure efficiency and accuracy of the Investment Compliance Program
- Developing training and ensuring Personal Trading and Ethics Compliance of SBA
- Overseeing the reporting of investment compliance
- Leading, participating and collaborating special projects
- Demonstrating ability to effectively manage human and financial resources
What you should have
Fifteen years of related experience. A postsecondary degree may be used as an alternative for years of experience; 2 years for an associate’s degree, 4 years for a bachelor’s degree, 6 years for a master’s degree, 7 years for a professional degree, or 9 years for a doctoral degree.
- A bachelor’s degree from an accredited college or university in finance, accounting, statistics, business or a related field
- Certified Public Accountant or Chartered Financial Analyst designation
- Master’s degree in business administration, accounting or a related field
- Juris Doctor (JD) degree with compliance experience
- Subject matter expertise in fixed income and/or equity portfolio management
- Knowledge of rules and regulations related to investments and trading
- Leadership experience managing senior professionals in the creation, development and management of a highly effective and efficient compliance group
- Experience in investment compliance monitoring, including use of automated trading and compliance monitoring systems (e.g., Bloomberg, CRD, Aladdin, BNY Mellon, Star Compliance)
Knowledge, Skills and Abilities:
- Issues related to managing, trading, and transaction processing of investments for a broad group of asset classes, including corporate and government bonds, mortgages, domestic and international equities, convertible bonds, derivatives and some knowledge of private equity, real estate, and hedge funds.
- Compliance issues related to short selling in global markets.
- Issues related to the use of external managers and counterparties, including investment selection, monitoring, and termination of managers.
- Statistical concepts, methods, and models, and their application to investments.
- State and federal laws and regulations that govern investment practices, including the Securities and Exchanges Commission (SEC) regulations.
- Conducting data searches and evaluating large amounts of information, performing complex statistical analysis of the data, and preparing concise and accurate reports and recommendations that are accurate, timely, and based on sound judgment.
- Using a computer in a Windows environment with word processing, spreadsheet, Bloomberg trading, compliance monitoring, and other business software to analyze trades, prepare reports, memos, summaries, and analyses.
- Planning and managing projects, with the ability to multi-task and meet multiple deadlines.
- Establish and maintain collaborative working relationships with co-workers, management, staff, and external contact and be a dedicated team player with ability to provide leadership and direction in defining and implementing departmental and organizational goals and objectives
- Work effectively in a professional team environment.
- Excellent written and verbal communication skills
- Skill in identifying and applying best practices to business processes, including risk identification, assessment, and mitigation
- Ability to effectively prioritize and delegate tasks and demonstrate flexibility necessitated by changing priorities
- Ability to exercise initiative and work independently
- Ability to exercise professional judgement in decision making, problem solving and conflict resolution
Hiring Range: $118,800 - $148,500