Business Unit:
Compliance, Risk and Internal Audit
Salary Range:
$150,000 USD - $200,000 USD
Specific compensation will be based on candidate’s experience, skills, qualifications, commercial considerations, and other job-related factors permitted by law. At Russell Investments, salary is just one part of our compensation package. Our total rewards approach includes an annual performance bonus (subject to eligibility criteria) in addition to participation in our competitive benefits programs including healthcare, retirement, vacation, and wellbeing programs.
Job Description:
We are currently seeking a Senior Compliance Manager (Deputy, CCO) to support Russell Investments U.S. registered investment company compliance program. Experience in exchange traded funds (ETFs) or interval funds is a plus.
**The individual who accepts this role will have a clear career path opportunity to become the U.S. Funds Chief Compliance Officer at Russell Investments, following the required training and experience in the position**
Reporting to a Chief Compliance Officer, you will be responsible for a wide variety of compliance matters, working collaboratively with other compliance staff in the global compliance department and directly with clients. You will be focused on supporting all aspects of our growing retail asset management funds business, including support of 38a-1 compliance programs, policy and procedure review and testing of fund service providers, preparation of board materials and providing assistance in new products development.
You are a competitive candidate if you have strong communication skills and the ability to work effectively with various departments within our company, such as product development, legal, marketing, and operations. You are also effective working with external partners, including fund administrator, transfer agents and other vendors associated with the funds. Finally, you have a growth mindset and are skilled at taking a complex set of problems and creating simple solutions. We value collaboration and diverse perspectives and encourage applications from individuals of all backgrounds.
Core Responsibilities:
Rule 38a-1 Compliance Program Support
- Provide expert compliance support of the compliance programs of mutual funds subject to Rule 38a-1 under the Investment Company Act of 1940.
- Conduct ongoing independent testing of fund service providers to ensure their policies and procedures are reasonably designed to prevent the violation of federal securities laws.
- Support the development and launch of new funds by reviewing registration statements and governing documents.
- Assist the Chief Compliance Officer in preparing materials for the Board of Directors.
- Ensure compliance with relevant securities laws and regulations, including the Investment Company Act of 1940, the Securities Act of 1933, and the Securities Exchange Act of 1934.
- Identify and document conflicts of interest associated with the funds and Russell Investments’ business.
Regulatory and Compliance
- Monitor and interpret regulatory developments affecting U.S. mutual funds, including ETFs, advising on necessary changes to business practices, policies and procedures.
- Support compliance leadership with regulatory authorities (e.g., SEC, CFTC, FINRA) to address regulatory inquiries and filings.
- Review certain required regulatory filings and reports.
- Partner with legal teams on regulatory change projects and maintain up-to-date regulatory knowledge.
- Identify and mitigate regulatory risks associated with the asset management business.
- Develop and implement policies and procedures to ensure compliance with legal and regulatory requirements.
- Communicate effectively with senior executives to ensure clear understanding of compliance and regulatory matters.
- Provide support to Russell Investments’ U.S. compliance programs for investment advisors and broker dealers, as needed.
- Participate in Russell Investments’ global compliance efforts, as needed.
Your Expertise:
- 8-10 years of compliance experience related to registered funds. Experience with ETFs or interval funds is preferred.
- Strong knowledge of securities laws and regulations applicable to registered mutual funds, with specific ETF knowledge and experience.
- Proven ability to manage complex projects and deliver high-quality results within deadlines.
- Experience drafting and finalizing policies and procedures.
- Experience in testing policies and procedures of fund service providers.
- Excellent communication and interpersonal skills with the ability to collaborate effectively with cross-functional teams and external partners.
- Commitment to professional ethics, integrity, and attention to detail.
Equal Employment Opportunity
Russell Investments is committed to providing equal employment opportunities for all associates and employment applicants regardless of race, religion, ancestry, creed, color, gender (including gender identity which refers to a person's actual or perceived sex, and includes self-image, appearance, behavior or expression, whether or not different from that traditionally associated with a person's biological sex), age, national origin, citizenship status, disability, medical condition, military status, veteran status, marital status, sexual orientation, past or present unemployment status , or any other characteristic protected by law.
