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Compliance Specialist, Licensing & Registration

Company: SoFi
Location: West Jordan
Posted on: November 14, 2021

Job Description:

Employee Applicant Privacy Notice

Who We Are

Shape a brighter financial future with us.

Together with our members, we're changing the way people think about and interact with personal finance.

We're a next-generation fintech company using innovative, mobile-first technology to help our 2+ million members reach their goals. The industry is going through an unprecedented transformation, and we're at the forefront.

We're proud to come to work every day knowing that what we do has a direct impact on people's lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world.

The role

The Compliance Specialist participates in the development, implementation and administration of the Company's Compliance Management Program for the SoFi Invest business unit. Reporting to the Senior Manager, Compliance Officer, this role includes support for self-directed brokerage activities, as well as investment advisory services, and support of the Company's money transmitter business. Plans, organizes and supports the company's day-to-day securities and investment advisory compliance activities, as well as collaborates with the Compliance team in the overall administration of the legal and compliance directives for the company.

What You'll Do

The primary objective of this role is to support Compliance leadership and to build and maintain a risk-based compliance program, while partnering with business teams as an advisor, as they continue to enhance the suite of products offered. Participates in the administration of surveillance, audits, annual reviews in compliance with Rule 206(4)-7 of the Advisers Act, regulatory examinations, as well as active testing of the processes and infrastructure of the broker dealer, investment advisor, and money transmitter that facilitate Invest activities. Advises Compliance and Legal personnel on emerging compliance issues and consults and guides the company in the establishment of controls to mitigate risks. Will be tasked with developing, improving and implementing compliance processes.

The ideal candidate will also have experience with securities and investment advice regulatory requirements and familiarity with money transmitter regulations. This includes, but is not limited to, Securities Act of 33, Exchange Act of 34, Advisers Act of 40, and the FINRA Rule Framework. The Senior Compliance Specialist may also assist, as needed, with other enterprise compliance initiatives related to supporting regulatory examinations, consumer protection, and oversight efforts.

  • Day-to-day responsibility supporting the management and ongoing evolution of the firm's securities and investment advice compliance programs
  • Researching regulatory risks, documenting analysis, and communicating recommended or required action
  • Assisting with the development, maintenance, and documentation of WSP's, compliance manual, process workflows, and standard operating procedures
  • Preparation and the management of major compliance-related projects and filings, including but not limited to Web CRD filings, IARD filings, Form ADV, Form CRS, RR/IA disclosures and all periodic reviews (4530, 3210, etc.)
  • Preparing comprehensive management reports by collecting, analyzing, and summarizing large quantities of data
  • Provide one-on-one education and group training on compliance regulations, policies, procedures, and industry best practices relating to compliance.
  • Supervise and/or participate in the maintenance and administration of the compliance assurance calendar, including creation of tests and testing compliance with firm policies and procedures and follow-up on outstanding issues.
  • Other duties as assigned
    What You'll Need
    • 5+ years of relevant work experience
    • Series 7, 24, 63 & 65 (or 66) Licenses Degree from an accredited university or significant relevant experience strongly preferred
    • Excellent oral and communication skills; must be able to effectively articulate regulatory risks and proposed mitigation
    • Ability to work in a fast-paced, changing environment
    • Ability to analyze and interpret rules, regulations, and policies
    • Superior organization skills and attention to detail
    • Collaborative, with an affinity for developing and fostering cross-functional relationships with key stakeholders
    • Exceptional experience with the Google suite of products and the Microsoft Office Suite, particularly with Excel
    • Thorough understanding of securities markets and compliance obligations of FINRA registered Broker Dealers and SEC Registered Investment Advisors
      Nice To Have
      • Experience with a self-directed or discount brokerage platform
      • Understanding of fractional share trading
      • Understanding of general banking and lending regulations
      • 5-7 years of experience with oversight of a Compliance Management Program of an Investment Adviser
        Why You'll Love Working Here
        • Competitive salary packages and bonuses
        • Comprehensive medical, dental, vision and life insurance benefits
        • Generous vacation and holidays
        • Paid parental leave for eligible employees
        • 401(k) and education on retirement planning
        • Tuition reimbursement on approved programs
        • Monthly contribution up to $200 to help you pay off your student loans
        • Great health & well-being benefits including: telehealth parental support, subsidized gym program
        • Employer paid lunch program (except for remote employees)
        • Fully stocked kitchen (snacks and drinks)
        • These benefits are only applicable to full time employees
          SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.

          Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.

Keywords: SoFi, West Jordan , Compliance Specialist, Licensing & Registration, Accounting, Auditing , West Jordan, Utah

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