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Broker-Dealer Compliance Officer
General Information
City/Cities
Bridgewater, New York
State(s)
New Jersey, New York
Country
United States
Working Schedule
Full-Time
Work Arrangement
Hybrid
Relocation Assistance Available
No
Posted Date
20-Nov-2023
Job ID
1112
Description and Requirements
Location - 200 Park Ave, NYC or Bridgewater, NJ.
Top candidate will need to travel between offices a few times a month.
Role Value Proposition:
Compliance Risk Management (CRM) delivers a compliance risk framework that enables the businesses and functions to comply with applicable internal and external rules and regulations and maintain risk levels within MetLife’s risk appetite. CRM provides constructive challenge to the businesses and functions, partnering closely with them to implement strong processes and effective controls, as well as to foster and embed a culture of compliance. CRM is part of Global Risk Management (GRM).
The Broker Dealer Compliance Officerwill be responsible for supporting the broker-dealer compliance program forMetLife Investors Distribution Company (MLIDC), a U.S. registered broker-dealer. The role will also coordinate with the Investment’s Compliance team regarding broker-dealer issues.
MLIDC engages in the sale and service of products for MetLife’s Group Benefits and Retirement and Income Solutions businesses in the U.S., including group variable life, pension products, institutional income annuities, structured settlement annuities, and corporate and bank owned life insurance. Additionally, MLIDC services a closed block of individual retail annuity and retail life business through MetLife Holdings, Inc.
This role will help develop, maintain, and continuously enhance the MLIDC broker-dealer compliance program so that it remains fit for purpose in light of regulatory requirements and expectations and industry standards and best practices. The successful candidate will implement the broker-dealer compliance program, advise on various controls, and monitor activities with a focus on driving efficiency, productivity, and risk-mitigation.
Broker-dealer compliance programs, include but are not limited to, conflicts of interest, electronic communication surveillance, outside business activities, and the OSJ office inspection program. This role must be able to develop and maintain effective relationships, facilitate discussions, and work with MetLife’s U.S. businesses to develop and enhance policies, procedures, and controls as needed.
The successful candidate will demonstrate commitment and skill in working on a collaborative team, driving engagement, knowing when to escalate, and fostering trusted strategic partnerships with internal stakeholders.
The Role:
Reporting directly to the VP, Chief Compliance Officer of MLIDC and Head of Investments Core and Broker-Dealer Compliance, the Broker-Dealer Compliance Officer will be responsible for building, overseeing, and performing requirements to support the compliance program for MLIDC, MetLife’s insurance broker-dealer. This role will collaborate with associates in the MetLife U.S. Business Compliance, MetLife Enterprise Compliance, and MetLife Investments Compliance to maintain and continuously enhance a compliance program that is fit for purpose in light of regulatory expectations, laws, and industry standards. The successful candidate will review existing compliance controls and design enhancements with a focus on driving efficiency, productivity, and risk-mitigation. This leader will proactively work with all lines of defense to help identify, manage, and report on compliance risk and mitigation. The broker-dealer compliance program includes but is not limited toconflicts of interest, outside business activities, gifts and entertainment, monitoring and testing, and electronic communication surveillance, andcompliance with new, and increasingly complex regulations.
This role will engage directly with FINRA and must be able to develop and maintain effective relationships, facilitate discussions, and demonstrate strategic leadership regarding the broker-dealer compliance program.
In addition to deep compliance subject matter expertise, the successful candidate will demonstrate commitment and skill in working across collaborative teams, driving engagement, and fostering trusted strategic partnerships with internal stakeholders. The ability to anticipate and advise on evolving regulatory expectations is critical, as is sound judgment to know when to escalate.
Key Responsibilities:
· Design, enhance, and implement the MLIDC broker-dealer compliance program, including but not limited to including conflicts of interest, outside business activities, gifts and entertainment, monitoring and testing, and electronic communication surveillance.
· Oversee and administer the branch office inspection program.
· Develop, maintain, and enhance as needed all relevant CRM-owned policies and procedures based on regulatory requirements, industry best practices and established internal controls.
· Manage advisory compliance and associated control environments, serving as a trusted advisor to the business while encouraging a culture of robust challenge.
· Coordinate with the Investments broker-dealer compliance team to create a collaborative, risk-based, and integrated function.
· Issue spot, analyze, scope, and manage the complexity of risks and regulations impacting MLIDC, including engaging directly with regulators; proactive and strategic thinker able to outline risk and make clear recommendations.
· Develop and implement mandatory and targeted training as needed, including the Annual Compliance Meeting.
· Design and implement appropriate surveillance and monitoring processes to ensure timely and effective remediation to mitigate compliance risk; provide meaningful compliance reporting and insights to senior management.
· Collaborate with peers in CRM to develop/maintain consistent processes and approaches, breaking through silos and encouraging a coordinated enterprise compliance model.
Essential Business Experience and Technical Skills:
· Minimum of 7-10 years of experience in a broker-dealer compliance, legal, audit or related leadership role in investment advisory or asset management and/or serving in a business compliance management capacity
· Comprehensive understanding of relevant securities laws, industry practices, and regulations, including FINRA and SEC rules and regulations
· Executive communication skills and proven ability to partner effectively internally with senior investments leaders on compliance matters and externally with regulatory authorities as needed.
· Change management and results-orientated; forward-looking and agile champion of compliance transformation that embraces change, collaborates on best practices, and works methodically to ensure fit-for-purpose compliance coverage.
· Practical working knowledge of technology and software relevant to surveillance and reporting, e.g. OpenPages; proficiency in Microsoft Office suite expected.
· Bachelor’s degree expected; JD, MBA, CFA, or equivalent a plus.
· Current FINRA Series 7 and 24 qualifications required.
The wage range for applicants for this position is $101,000 - 135,000. This role is also eligible for annual short-term incentive compensation. MetLife offers a comprehensive benefits program, including healthcare benefits, life insurance, retirement benefits, parental leave, legal plan services and paid time off. All incentives and benefits are subject to the applicable plan terms.
Equal Employment Opportunity/Disability/Veterans
If you need an accommodation due to a disability, please email us at accommodations@metlife.com. This information will be held in confidence and used only to determine an appropriate accommodation for the application process.
MetLife maintains a drug-free workplace.