Chief Compliance Officer - North America at Morningstar (Chicago, IL)

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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.

 

Key Responsibilities:
•    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.

 

Requirements:
•    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.

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Technology we use

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Location

22 W. Washington , Chicago, IL 60602

An Insider's view of Morningstar

What does your typical day look like?

Every day is a little different. Our team is focused on POC (Proof of Concepts). My work involves problem-solving, development and software design. I work on the Data collections team, currently most of this involves, on a high level, automating the process currently used to collect data from raw sources through Machine Learning.

Upasna

Software Engineer, Data Collections - AI R&D

How does the company support your career growth?

We believe in promoting from within, based on previous impact to the team. Whenever possible, we will stretch our employees to take on expanded roles that aligns with the career progression they are interested in.

Jeff

Head of Technology and Product

What are Morningstar Perks + Benefits

Morningstar Benefits Overview

At Morningstar, your contributions have meaning and can drive change. Across our 27 offices worldwide, we’ve invested in fostering a community where talented, driven people can grow. Our entrepreneurial spirit and uncompromising ethics guide everything we do. It’s all in the name of empowering investors. Morningstar is proud to offer a comprehensive benefits package to eligible, full-time employees in the United States who work a minimum of 30 hours per week. Our benefits are designed to invest in your -- and your family's well-being, including investments in your health and financial future.

Culture
Volunteer in local community
Morningstar encourages our colleagues to become involved in their communities, by providing paid time off for volunteer activities.
Partners with Nonprofits
Friends outside of work
Eat lunch together
Intracompany committees
Daily sync
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Unconscious bias training
Morningstar encourages unconscious bias training for all employees, especially managers and hiring personal. We believe that by raising awareness of bias we can decrease its effects.
Diversity manifesto
Diversity Employee Resource Groups
Hiring Practices that Promote Diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
Morningstar offers two Flexible Spending Accounts (FSA)— one for healthcare expenses and one for dependent care expenses. You may enroll in both $ determine the contribution amount.
Disability Insurance
Dental Benefits
Our dental plan covers 100% of preventive services, 80% of basic services, and 50% of major services.
Vision Benefits
With Morningstar's vision benefits you can get an annual eye exam with an in-network provider with just a $10 copay.
Health Insurance Benefits
Morningstar continues to offer the choice of two medical plans—the Savings Plan and the Classic Plan. Both are administered by Blue Cross and Blue Shield of Illinois (BCBS).
Life Insurance
Morningstar offers 4 tiers of life insurance that offer varying benefits. Basic Life insurance is equal to 1 times an employee's annual salary.
Wellness Programs
Mental Health Benefits
Our insurance covers 80% on in-network mental health services. Our Employee Assistance Program provides no-cost, confidential, 24-hour counseling on a wide variety of issues.
Retirement & Stock Options Benefits
401(K)
Take advantage of a number of Morningstar tools to help you manage your 401(k) account and your finances, including Morningstar Retirement Manager, available to you at no cost.
401(K) Matching
Morningstar provides employees with a 401(k) matching plan managed. We match $0.75 for every dollar contributed, up to a maximum of 7% of employee pay contributed to the plan each pay period.
Company Equity
Morningstar’s global employee equity benefit, Shared Ownership, enables you to take a portion of your bonus payout and exchange it for RSUs, with Morningstar providing an additional 50% match.
Employee Stock Purchase Plan
Colleagues who exceed their performance goals substantially may be eligible for Impact RSU Awards as an additional reward on top of their cash bonus/commission award.
Performance Bonus
Match charitable contributions
Morningstar's Matching GIfts program will match your charitable giving up to the local currency equivalent of $500 USD per calendar year.
Child Care & Parental Leave Benefits
Child Care Benefits
Morningstar offers the option of in-home child and elder care, in addition to the existing day care center back-up care benefit.
Generous Parental Leave
Morningstar has a global minimum of 6 weeks paid time-off to bond with new family members. This benefit applies to all individuals equally, including birth mothers, fathers, adoptive parents.
Flexible Work Schedule
Morningstar provides employees with a flexible work schedule that includes Summer hours, Work from home, Flexible start and end times.
Remote Work Program
The safety of our employees is very important to us. We have been operating remotely due to COVID-19.
Family Medical Leave
Eligible employees may take up to 12 weeks of job-protected, unpaid leave per year for certain specified reasons, and up to a total of 26 workweeks of leave to care for a family member.
Adoption Assistance
We reimburse up to 80% for eligible adoption expenses, up to $4,000 per adoption, in addition to a minimum of 6 weeks paid time off.
Return-to-work program post parental leave
Company sponsored family events
Morningstar sponsors family oriented events Annually.
Vacation & Time Off Benefits
Unlimited Vacation Policy
Generous PTO
Paid Volunteer Time
Our employees receive 2 days per year of paid volunteer time.
Sabbatical
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
Company Outings
Some Meals Provided
Happy Hours
Parking
Recreational Clubs
Fitness Subsidies
Professional Development Benefits
Job Training & Conferences
Tuition Reimbursement
Diversity Program
Lunch and learns
Cross functional training encouraged
Promote from within
Mentorship program
Continuing Education stipend
Time allotted for learning
Online course subscriptions available
Customized development tracks
Paid industry certifications

Additional Perks + Benefits

Compensation at Morningstar is more than a salary. It’s about making positive contributions to both life and work. We give our diverse workforce the choice and flexibility they need to maintain their health, retirement plans, time, and professional growth.

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