Also by Reinvestment Fund

Director, Compliance – Philadelphia, PA

About Our Company
Reinvestment Fund is a catalyst for change in low-income communities. We integrate data, policy and strategic investments to improve the quality of life in neighborhoods across the country. We finance schools, affordable housing, grocery stores and health centers in underserved communities helping families lead healthier, more productive lives.

Reinvestment Fund brings together individual investors, banks, government, insurance companies, private foundations and faith-based and community organizations to invest in projects that transform communities. As a federally-certified community development financial institution (“CDFI”), we manage $1.2 billion in capital that originates from over 830 investors. We have deployed over $2.2 billion into community revitalizing and job-creating projects and enterprises over our 34-year history.  The company maintains a A+ issuer rating from S&P, as well as the highest ratings from an industry independent rating agency (AAA, four star with a Policy Plus from AERIS).

About The Department
The Risk & Compliance (“R&C”) department is responsible for developing and monitoring an effective risk and control framework across the organization.  R&C works with business partners to effectively manage various risks in an environment of proactive and strategic problem solving.   The team also leads operational and compliance programs that mitigate legal, regulatory and reputational risks.

Opportunity

We are seeking a motivated compliance professional, with experience in financial services, to lead the execution of compliance programs.   This position reports to the Chief Compliance & Risk Officer and will have compliance oversight of key activities, including investment advisory activities of RF Impact Advisers.  RF Impact Advisers (“RFIA”) is a nonprofit Pennsylvania-registered investment advisor wholly owned by Reinvestment Fund. RFIA allows eligible investors to invest in private funds that focus on specific asset classes or toward specific impact goals.

In addition to understanding and experience in the Investment Adviser’s Act of 1940, the individual should have broad understanding of compliance management capabilities and the impact of other risk types (i.e. operational, credit, strategic) on the organization’s ability to mitigate compliance risk.

Other typical expected responsibilities include:

  • Work with other members of the R&C department and business owners to understand and manage enterprise-wide issues, opportunities and priorities.
  • Manage and monitor risk management policies, processes and procedures (coordinate, assign, and perform secondary reviews/approval) and report findings to relevant parties.
  • Maintain and update the investment advisor compliance manual and perform testing, monitoring, reporting and conduct annual training to ensure effectiveness of the program.
  • Implement and monitor an ethics program pertaining to employee conduct matters and ensuring the timely resolution of such matters.
  • Coordinate internal audits and compliance reviews
  • Stay abreast of ongoing regulatory developments and/or material regulatory changes in applicable law and regulations.

Education, Experience and Skills

The requirements listed below are representative of the minimum levels of knowledge, skills, and/or abilities required. To perform this job successfully, the individual must possess the abilities or aptitudes to perform each duty proficiently.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Candidates will be expected to possess the following professional and personal attributes:

  • 8 – 12 years of related experience with strong knowledge of the Investment Adviser’s Act of 1940 and prior experience preferably as a Deputy CCO.
  • Knowledge of the financial services industry, from a strategic and internal controls perspective, especially as it relates to Federal Securities expectations.
  • Manage various programs and specific projects simultaneously with experience in planning, status reporting and coordinating resources.
  • Desire to learn more about the CDFI industry and fit broader financial institution industry experience to needs of the organization consistent with its size, complexity and culture.
  • Strong communication skills and presence with the ability to speak with impact, influence outcomes; simplify complex topics into actionable recommendations for decision-making.
  • Comfortable with confronting conflict and difficult issues in a professional, assertive and proactive manner.

Preferred Requirements

  • Bachelor’s degree in Finance, Accounting, or Business-related discipline.
  • Experience with state-registered investment advisers.
  • Knowledge of AML/BSA/OFAC risk assessments, monitoring and program management.
  • Understanding of enterprise risk management concepts, including risk appetite setting and monitoring
  • Prior experience building new programs or implementing new frameworks related to internal controls
  • Experience with technology-enabling risk mitigation tools
  • Series 7 and 24 licenses
  • IACCP designation

Expectations for all employees
Supports Reinvestment Fund’s mission, vision, and values by exhibiting the following competencies: Commitment to Reinvestment Fund, ethical behavior/integrity, and respect for coworkers, Reinvestment Fund boards and committees, investors and borrowers, and clients.

Compensation and Benefits
Reinvestment Fund offers a competitive salary based on experience and skills, including participation in the Company’s performance plan as well as an excellent benefits package including employer-paid health, disability and life insurance, 401(k) savings plan with employer match, flexible spending accounts (medical, dependent care, and transportation), tuition reimbursement, generous paid time off, and EAP program.  As part of its professional development program, the company pays for CPE credits and time off to attend classes as required by its professional staff.

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