Chief Compliance Officer - North America
The Team: Morningstar’s Compliance team supports Morningstar’s global business entities, with focus on those registered with and governed by a regulatory body. Our compliance professionals have an integral role in mitigating regulatory and compliance risk for Morningstar. Morningstar and its subsidiaries offer a broad range of products and services including regulated services such as investment advisory.
The Role: Morningstar’s Compliance team is seeking a Chief Compliance Officer for North America responsible for regulatory and compliance matters emanating from North America. This includes effectively managing compliance and regulatory risks Morningstar is exposed to by designing, implementing and maintaining a compliance framework that minimizes (if not eliminates) Morningstar’s exposure to such risks.
This compliance framework brings together policies, procedures and processes that effectively:
• prevents and detects violations of laws, regulations and policies;
• promotes an organizational culture that encourages ethical conduct and commitment to compliance with the law;
• addresses the specific risks associated with a given business model with concrete actions to reduce or eliminate those risks; and
• ensures that employees understand and comply with the laws, regulations and policies that apply to their daily work.
This position will be based out of Chicago; however, is expected to travel and work out of our Toronto office from time-to-time.
This position will report to Morningstar, Inc.’s Global Chief Compliance Officer who is based out of Morningstar’s corporate headquarters in Chicago, U.S.A. The position will have direct reports.
• Oversee the design, implementation and monitoring of a compliance program for each of our investment advisory entities within North America;
• Promoting a culture of compliance by fostering an environment of open and honest communication with all employees of all levels – reinforcing the importance of conducting ourselves in an ethical manner and in the best interests of our clients.
• Serving as a technical resource for Morningstar’s North America senior management and their staffs with regards to compliance/regulatory matters.
• Provide compliance/regulatory guidance and subject matter expertise in connection with new products and services offered within the region.
• Provide notification of new regulatory developments and how such developments impact the company and/or the company’s products/services.
• Provide notification of material changes/enhancements to the compliance department or compliance programs.
• Respond to compliance/regulatory questions and matters as they arise.
• Collaborating with Global Chief Compliance Officer in interpreting new rules and regulations and developing a strategy (including creating new or enhancing existing policies and procedures) to comply with such rules and regulations within the required regulatory timeframe.
• Mentoring/providing guidance to their direct reports on regulatory and compliance matters as well as work goals and objectives.
• Keeping abreast of regulatory and compliance developments that pertain to the entity’s services/business model.
• Degree in Business, Finance, Accounting or related field.
• Minimum of twelve (12) years’ experience as a compliance professional in the asset management industry.
• Strong knowledge of the regulatory environment and requirements for investment advisers and broker/dealers.
• Experience in managing a team of compliance professionals.
• Ability to work independently and is a detail-oriented, motivated and an independent thinker able to interact with employees of all levels.
• Strong communication skills with the ability to communicate information in an understandable way.
• Ability to be highly sensitive to maintaining confidentiality.
• High level of proficiency in Microsoft Office applications.
Morningstar is an equal opportunity employer.