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Compliance Officer

Compliance Officer

Posted on: 05/15/2024
  1. Full-time



  1. No exam required


Asset Management

$125,000.00 – $140,000.00

Job Description

The Office of the New York City Comptroller’s Bureau of Asset Management (BAM) supports the Comptroller in his role as investment advisor, custodian, and trustee for each of the five New York City public pension systems. BAM oversees more than $250 billion dollars in assets under management on behalf of New York City retirement systems, proudly serving nearly 800,000 New York City public servants including teachers, firefighters, police officers, and more.

As investment advisor for some of the largest public pension fund systems in the country, BAM due diligences, recommends, and monitors a broadly diversified portfolio of externally managed investments across public equity, public fixed income, private equity, real estate, alternative credit, infrastructure, and hedge funds. Our team invests this portfolio with world-class external fund managers. Our office is a leader in ESG, recognized widely for our corporate governance and asset manager engagement program. Our principle-based ESG philosophy centers around the mitigation of long-term systemic risks posing a threat to our portfolio, including climate risk, labor-relations issues, and more.

We promote a healthy work-life balance for employees, operating under a hybrid work program with three in-office days per week. Located in downtown Manhattan, our office is easily accessible from all five boroughs and commuter plans are offered for all employees. We are proud of our large, diverse, and skilled workforce.

The systems’ portfolios are managed primarily by external investment managers; only short-term cash is internally managed. The Compliance Officer will work with the Chief Compliance Officer (CCO) to identify and implement policies and workflows to monitor regulatory compliance both within the Bureau and with the Systems’ external managers and consultants on issues relevant to the financial services industry.

Reporting directly to the CCO and working with the compliance staff, the Compliance Officer’s responsibilities include, but are not limited to:

- Working with BAM Investment Strategy and the Office of the General Counsel, perform comprehensive compliance-related operational due diligence and disclosure form review on all new and existing public and private market manager recommendations and investments.

- Assisting the CCO in performing a compliance review of presentation materials such as investment memos and presentations for NYC retirement systems’ Trustees and other external parties.

- Maintaining the Bureau’s Business Continuity and Disaster Recovery Plan and developing training and reporting to BAM’s senior leadership team.

- Evaluating ways to improve internal Compliance processes including but not limited to public market investment guideline monitoring, compliance training, and the annual ethics & compliance questionnaire for 300+ investment managers and consultants.

- Assisting the Chief Compliance Officer in maintaining the Agency’s Personal Trading Policy, including setting up electronic data feeds for multiple brokers.

- Researching and providing reporting to the Chief Compliance Officer on changes in regulatory rules and practices affecting investment firms who manage assets for the NYC retirement systems.

- Conducting ad hoc projects as required by the Chief Compliance Officer.

MINIMUM QUALIFICATION REQUIREMENTS: A master’s degree from an accredited college or university with major studies in business, economics, finance, or a related field and three (3) or more years of progressively responsible experience in a financial services compliance role and/or carrying out compliance functions for a large and/or complex SEC registered investment advisor, broker/dealer, consulting firm, or in a related area; or, BS/BA degree from an accredited college with major studies in the fields mentioned above and five (5) or more years of progressively responsible professional experience as described above; or, Satisfactory equivalent of education and/or experience equivalent to "1" above.

Preferred Skills

- Understanding of the U.S. Securities and Exchange Commission’s Investment Advisers Act of 1940, specifically Rules 206(4)-7, 204A-1, and 206(4)-5 - Proactive in identifying process deficiencies and compliance risks and presenting possible solutions - Practices a strong ethical code of conduct and commitment to a culture of compliance - Solid writing, communication and time management skills, can be adaptable and balance multiple assignments and department priorities - Ability to work both independently and collaboratively with teams - Working experience with Microsoft Office applications (Word, Excel, PowerPoint, Outlook, SharePoint, Teams).
Public Service Loan Forgiveness

As a prospective employee of the City of New York, you may be eligible for federal loan forgiveness programs and state repayment assistance programs. For more information, please visit the U.S. Department of Education’s website at https://studentaid.gov/pslf/.
Residency Requirement

New York City residency is generally required within 90 days of appointment. However, City Employees in certain titles who have worked for the City for 2 continuous years may also be eligible to reside in Nassau, Suffolk, Putnam, Westchester, Rockland, or Orange County. To determine if the residency requirement applies to you, please discuss with the agency representative at the time of interview.
Additional Information

The City of New York is an inclusive equal opportunity employer committed to recruiting and retaining a diverse workforce and providing a work environment that is free from discrimination and harassment based upon any legally protected status or protected characteristic, including but not limited to an individual's sex, race, color, ethnicity, national origin, age, religion, disability, sexual orientation, veteran status, gender identity, or pregnancy.

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Compliance Officer

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Work location

1 Centre St., N.Y.

  1. Finance, Accounting, & Procurement