Hi, I have a preliminary phone interview for this position. I am currently 36 and passed Level I in June. About 10 years experience with Mutual fund companies, mostly in accouting. Looking to make a switch more to the investment side in Fixed income. Not having much experience on the investment side, does this job look like a good opportunity to gain experience with Fixed Income and network. Admittedly it probably wouldn’t count as CFA experience: Description The Compliance Analyst — Fixed Income Monitoring is responsible for daily monitoring of all trade activity for specific funds and accounts to ensure that their investment policy limitations are followed. This individual communicates client, regulatory, prospectus, Board and internal policies to portfolio managers and traders and educates them on applicable fund/account limitations. Primary Responsibilities: Monitoring • Conduct daily time-of-trade and batch monitoring of investment activities for a group of specific funds/accounts. Ensure trades are in compliance with client, regulatory, prospectus, Board-approved, and internal limitations. Respond to time-of-trade violations quickly and accurately in an effort to meet client expectations (trading, portfolio management). • Review fund literature such as the prospectus and statement of additional information, as well as client guidelines to ensure compliance limits are appropriately reflected in compliance monitoring system. • Identify, research and escalate potential compliance violations. Work with senior analysts and management to resolve issues and follows up with trading, portfolio management, senior management and others where appropriate. Risk Mitigation • Maintain the integrity of the Compliance rules-based system for assigned funds/accounts, and ensure updates are accurate and changes are timely. Analyze rule results to determine reasonability, accuracy, and completeness levels. • Identify potential issues impacting the portfolios or gaps in department policies and procedures and escalates as appropriate. Education Program • Prepare semi-annual reviews for auditors and investment professionals and communicates positions relative to applicable compliance limitations for each fund/account. • Participate in training meetings with new investment professionals on the limits assigned to their funds/accounts. • Communicate changes to existing investment guidelines to existing investment professionals. Other • Develop and maintain effective working relationships with business partners to facilitate the receipt and dissemination of information necessary for accurate completion of responsibilities. Prepare, review and analyze various scheduled and ad hoc reports. • Participate in and contribute to department-wide initiatives in support of individual, team and department goals. • Maintain files in compliance with record retention requirements.
I had this job and know many others who did in other firms. The key is where. At my top 5 money manager it was a possible step in the PM career path (many there managed to do so). At another top 5 it was an underpaid, under appreciated, dead-end BO gig.
You mind giving me your email address so I can send you the name of the company and see if you knew anyone that had a similar position there. While I don’t have any real interest in being a PM, I would like something that might position me for a more analytical role within fixed income investments themselves. I appreciate your feedback.
also… it should count for CFA since you are intimately involved in reviewing IPS and ensuring implementation by monitoring the benchmarks/ limits/ guidelines. Much of the role is basically making sure that the actual investments are in line w/ the clients goals (prospectus, etc.)- so you ARE participation in the investment process. All [portfolio] compliance officers at my last firm had it count. It would be different if you were on the legal side filing SEC forms and such.
akanska2 @ gmail I only know socal firms that end in ‘MCO’- so hopefully you’re lucky… but the cut and paste doesn’t seem familiar.