Compliance Officer at Morningstar
The Team: Morningstar Credit Ratings, LLC (“MCR”) is registered with the U.S. Securities and Exchange Commission as a nationally recognized statistical rating organization (“NRSRO”). Morningstar Credit Ratings issues credit ratings on a variety of security types such as commercial mortgage-backed and residential mortgage-backed securities. Morningstar Credit Ratings also offers operational risk assessment and analysis on mortgage servicers and loan originators. Morningstar Credit Ratings is wholly-owned by Morningstar, Inc. and has offices in New York, NY, Chicago, IL, Mumbai, India and Horsham, PA.
The Role: Morningstar Credit Ratings is currently seeking a Compliance Officer to manage the compliance monitoring program from end-to-end for MCR. Additionally, the Compliance Officer will handle compliance matters emanating from various offices, especially from Chicago and the Mumbai offices and manage company-wide compliance training programs.
To assist in the responsibility, the Compliance Officer will interact with personnel from MCR’s various offices such as New York, Chicago and Mumbai. This position is based in Chicago office and reports to MCR’s Chief Compliance Officer.
Manage the end-to-end compliance monitoring program:
• Manage and perform key monitoring activities:
o Update and maintain a comprehensive and risk-based Compliance monitoring plan.
o Manage key monitoring activities and coordinate with others in the Compliance team to ensure effective execution.
o Ensure proper documentation of monitoring results for all monitoring activities.
o Identify opportunities for improvement and automation in order to execute the program more effectively and efficiently.
o Communicate results within Compliance and with key stakeholders.
• Manage Compliance exception log process
o Determine the governing policy violated.
o Investigate to establish the underlying root cause.
o Assign a corresponding action plan to address the exception and remediate the root cause.
o Compile and communicate a quarterly summary to senior staff to ensure lessons are learned from exceptions to reduce risk.
Be the main point of contact to handle compliance matters emanating from the Chicago office; and from the Mumbai office (during transition period):
• Ensure timely handling of MCR employee’s questions and appropriate actions are taken.
• Provide guidance/answers to questions pertaining compliance policies and procedures.
• Conduct internal Compliance investigations
• Assist team in the development, implementation, and maintenance of appropriate compliance policies and procedures including the Compliance Manual.
• Perform marketing and communication material review and other tasks as needed.
Manage and execute compliance trainings to MCR staff:
• Identify training needs and topics.
• Develop, distribute, and maintain training materials.
• Revamp and improve our training approach through leveraging multi-media tools and state-of-the art methods.
Provide support for other regulatory, risk and compliance team deliverables such as:
• Remediation of SEC exam findings.
• Annual risk assessment of outsourced activities.
• Spearhead process improvement and/or automation effort to improve overall effectiveness and efficiency of the compliance program.
• A bachelor’s degree is required. A degree in finance, accounting, or economics and an advanced degree is preferred.
• A minimum of 5 years of compliance and/or regulatory support experience with a regulated entity and a minimum of 1-2 years of compliance experience in the credit rating industry.
• Good knowledge of NRSRO related regulations.
• Experience in managing and executing a comprehensive compliance monitoring program from end-to-end.
• Prior experience and special knowledge in regulatory framework and monitoring activities pertaining to credit ratings business is strongly preferred.
• Experience or background in managing personal security trading related compliance programs.
• Experience in conducting compliance investigations.
• Experience drafting procedures and internal communications.
• Experience performing compliance reviews, developing findings and recommendations, and
independently manage compliance-related projects.
• Experience managing and providing effective compliance training and developing training materials within prescribed frameworks.
• Strong interpersonal relations, with the ability to effectively influence and collaborate with diverse teams.
• High degree of professionalism and integrity with demonstrated ability to handle confidential issues in a professional manner.
• Strong organizational and time management skills with the flexibility and willingness to respond to
• High level of attention to detail and problem-solving skills.
• Compliance related professional certifications such as the CFE is preferred.
Morningstar is an equal opportunity employer.