This position is responsible for providing Compliance expertise and partner support to the Digital Business within the Retail Financial Services (RFS) area of TIAA. The ideal candidate will have strong experienceworking with the Digital area at a top financial services provider and be familiar with the tension between creating a simple user experience and complying with regulatory requirements for the delivery of the digital product or service. Experience with online and mobile application development and Agile is important. This includes strong knowledge of broker-dealer products and services, insurance products, IRAs, and wealth management products. The ability to break down complex regulatory requirements into easily understood concepts and succinctly communicate this to the Digital team is key in this role. The position will also assist with other compliance initiatives for the RFS Compliance team related to supporting regulatory examinations and consumer protection initiatives. Approximately 75% of the role is digital compliance support and 25% is consumer protection initiatives and regulatory examinations and inquiries.
KEY RESPONSIBILITIES AND DUTIES:
- Act as the compliance subject matter expert on Digital business projects.
- Advise on Digital projects that impact RFS particularly increasing our ability to distribute products and services digitally.
- Manage the evaluation, development and implementation of sales practices and compliance procedures as required for the company’s product channels and distribution schemes, and recommend revisions to such procedures when necessary.
- Conduct the annual Compliance Risk Assessment for the Digital business and assist in developing the compliance testing, monitoring, surveillance and general oversight program, commensurate with the identified levels of risk. The role is not responsible for performing testing.
- Evaluate and advise on management action plans.
- Assist in the oversight and tracking of issues and management action plans and escalate un-remediated items for reporting to senior management.
- Review and evaluate internal controls and procedures established to comply with applicable Federal Reserve, FINRA, SEC, MSRB and other federal laws, rules and regulations.
- Identify, assess, document and report on compliance risks associated with Digital products, services, customers and operations.
- Establish and maintain relationships and communication with business unit employees to build trust and obtain the necessary information to assist in maintaining an effective compliance program.
- Provide compliance support for consumer protection initiatives, including complex complaint matters and senior investor issues.
- Provide compliance support in regulatory examinations and inquiries.
- Perform or assist with special departmental projects, as needed.
- Commit to continuing education to remain current with regulations, best practices and industry trends.
- Series 7 & Series 24 must be obtained within 6months of hire.
- Bachelor’s degree.
- 10+ years of compliance experience is required.
- Experience at a financial institution in a digital compliance role with significant subject-matter expertise (product development, sales practices, and operations) or past experience as a regulator focused on broker-dealer matters with experience in digital compliance is required.
- Legal or auditexperience is a plus.
- MBA or JDpreferred.
- 5+ years of broker-dealer-related digital compliance experience is preferred.
- Strong knowledge of Federal Reserve, FINRA, SEC and MSRB regulations applicable to the digitalmarketing and sale of products, services and the supporting operations.
- Familiarity with Agile methodologies.
- Strong interpersonal, leadership and relationship skills.
- Ability to participate and/or manage special projects.
- Excellent quantitative, analytical and problem solving skills.
- Strong written, oral communication and presentation skills.
- Flexibility to adapt to changing priorities to meet business needs.
- Demonstrated ability to work independently and with team members at all levels