Chief Compliance Officer - Part Time
Company: LaSalle Investment Management Distributors, LLC
Job Title: Chief Compliance Officer
Location: Chicago, IL
Department: Broker-Dealer Compliance
Employment Type: Part-time
Auto Req ID: 50929BR
To be considered, please click the link below to apply online. All resumes MUST BE submitted via our website.
Objective of Role:
LaSalle Investment Management is looking for a highly motivated and experienced Chief Compliance Officer (CCO) to manage the broker-dealer compliance program of its captive broker-dealer, LaSalle Investment Management Distributors (LIMD). LaSalle Investment Management operating subsidiaries are engaged in real estate investment management services and have over $60 billion of assets under management on a global basis invested in private real estate and publicly listed real estate securities.
The CCO will be responsible for the compliance activities associated with LIMD’s two areas of business: (i) the solicitation of institutional investors located in the United States and Canada to invest in private real estate funds sponsored by LaSalle Investment Management and (ii) wholesaling activities with participating broker-dealers and RIAs in connection with the ongoing offering of a public, non-traded REIT sponsored by Jones Lang LaSalle: Jones Lang LaSalle Income Property Trust, Inc.
The CCO will have the benefit of stepping into a fully operational compliance program recently vacated by the previous CCO who moved laterally within JLL to dedicate 100% of his time to another broker-dealer in the Jones Lang LaSalle family. The previous CCO dedicated approximately 50% of his time to LIMD. The successful candidate will continue to be responsible for ensuring that all processes are in place that are necessary to establish, maintain, review, test and modify written compliance policies and written supervisory procedures reasonably designed to achieve compliance with FINRA rules, federal securities laws and regulations, and any applicable state laws and regulations. The CCO will partner with LIMD business leaders to provide instruction and guidance on how to develop new policies and procedures that would apply to new business initiatives, or modifications to current business activities. The CCO will be expected to have specific expertise in all facets of private equity distribution, as well as wholesale distribution of registered products, preferably, public non-traded REITs. The candidate must have experience interacting with regulators both in the course of exams and branch audits, as well as in the role of advocating firm initiatives. The CCO will also be expected to adapt to new regulations and be willing to secure additional licenses to accommodate new products and lines of business, as they may develop over time.
- Expertise in FINRA rules, as well as SEC and state rules and regulations applicable to broker-dealers;
- Experience with private fund placement agent activities in the United States and Canada;
- Expertise with wholesaling broker-dealer activities, including the filing process for marketing materials with FINRA; experience with reviewing marketing materials associated with public non-traded REIT materials is a plus;
- Ensuring adequacy and appropriate updating of all compliance procedures and documents, including but not limited to WSPs; AML compliance, procedures, and monitoring; office inspection procedures; compliance and supervisory oversight of all sales materials and dealer manager compensation related to REITs; and training program and needs analysis;
- Ensuring appropriate registration of all associated personnel and ensuring appropriate oversight and supervision of all associated personnel;
- Overseeing an effective Firm Element Continuing Education and Annual Compliance Meeting;
- Solid understanding of expense sharing agreements and net capital rules, and ability to effectively liaise with the accounting department and the Financial Operations Principle;
- Representing LIMD with federal and state regulators and FINRA, as well as key trade associations and professional organizations;
- Successfully managing of all periodic and any special regulatory examinations of LIMD;
- Manage FINRA’s CRD System for firm and registered representatives (including licensing, continuing education, registration and employee filings U4/U5, etc.);
- Maintain and update branch registrations;
- Office hours can be flexible to accommodate a structure that includes working from home.
Qualifications, Skills & Experience:
- Ability to prioritize and manage numerous issues and projects while being responsive to all internal and external stakeholders;
- Strong self-motivation and the proven ability to work independently, while at the same time possessing strong communication and interpersonal skills in order to effectively communicate with business leaders and sales team;
- Substantial experience reviewing and filing a significant volume of marketing materials for documents requiring filing with FINRA, SEC and/or States, including partnering with business to ensure success in quality of marketing materials;
- Proven ability to quickly absorb new rule requirements and develop policies and procedures as needed;
- Strong academic credentials and superior writing and analytical skills;
- FINRA Series 7, 24 and 63 and possession of securities licenses as needed to act as CCO of an Exempt Market Dealer (registered with the Ontario Securities Commission);
- At least 10 years’ experience in financial services industry preferred.