Director of Compliance

Bozeman, Montana
$85,000 - $95,000
Jan 18, 2019
Feb 17, 2019
Job Role
Employment Type
Full Time

Job description

  • Hours: 40 hours per week, but schedule is flexible

  • Start Date: Immediate; applications will be reviewed as they are received

  • Salary: $85,000-$95,000

  • Additional Benefits: Dream Team Handbook


The XY Planning Network (XYPN) is the leading organization helping financial planners start, run, and grow fee-only RIAs that serve Gen X and Gen Y clients. XYPN is located in Bozeman MT, so if selected, you will be working from the Bozeman office. You will report to Chief Operating Officer Raul Dominguez.

The ideal candidate will supervise a team that is responsible for processing all of the initial state registrations for new firms (typically at least half of our new members every month). In addition, the team will provide ongoing question-and-answer compliance support, and assistance with annual filing updates for our existing state-registered investment advisor firms. The Director of Compliance will also be accountable for various other processes of the department, such as administration of premium compliance services, weekly compliance office hours sessions, compliance webinars and blogs, and Smart RIA administration, onboarding and offboarding. Smart RIA is our compliance task management software partner, and is a third-party administered website that is neither own nor operated by XY Planning Network. Additionally, the Director of Compliance will be accountable for monthly data reporting, attending all required meetings, and managing the compliance team’s participation in our annual conference.

 Manage the team that handles RIA state registration process for 15-20 new firms per month

  • Manage the team that handles the ADV update process for 500+ firms per year

  • Provide leadership for a team of 3-4 compliance associates

  • Maintain daily presence in our Network’s online compliance forum - answering any compliance-related questions as they are asked

  • Create compliance resources like templates, how-to guides, and Q&As for members launching and growing their firms

  • Develop a communication and processing strategy for members that is scalable and sustainable

Detailed Responsibilities:

Management and Supervision for the Initial Registration Process:

  • Monitoring and creating updates to internal processes for making the initial registration process seamless and efficient

  • Ensuring compliance associates are maintaining step-by-step process and timeline that can be easily communicated to members

  • Ensuring compliance associates are maintaining accurate records of member status in the registration process and are updating members status as often as necessary

  • Ensuring compliance associates are maintaining up-to-date state requirements to prepare members for specific state needs (fees, balance sheets, required  compliance documents, net capital requirements, surety bond requirements, etc.)

  • Supervising changes to compliance guides and templates

Ongoing Compliance Support:

  • Accountable for Annual ADV Update Project

  • Responsible for supervising all operations of the department, including but not limited to premium services, monthly compliance webinars, weekly office hours sessions, and forum participations

  • Handling member compliance escalations

  • Working with other departments within the organization on creating and disseminating compliance content

Team Management:

  • Create and document internal processes for compliance associates

  • Interviewing, hiring and training new compliance associates

  • Managing day-to-day operations of the department, including weekly and quarterly meetings with compliance associates

  • Making adjustments to compliance associate workload based on volume

  • Managing ticketing system to ensure adequate communications processing within acceptable timeframes

Experience Required: At least 2 years working in an RIA Compliance role

The ideal candidate understands the needs and requirements of fee-only RIA state registration, is familiar with the Entrepreneurial Operating System, is comfortable creating structure and processes to improve the efficiency of handling growth in the number of RIAs supported by the Network, and has experience managing people. 

We’re looking for a teammate that is passionate about financial planning and the mission of XYPN, and embraces our core values. The ideal candidate enjoys a collaborative working environment, and is ready to be an active contributor on the team of a growing startup. We hire folks that are great at what they do and don’t need to be micromanaged. Accordingly, we expect team members to be willing to exert themselves when necessary to ensure the job gets done in the most effective way possible, in pursuit of advancing our vision of expanding access to financial planning for consumers through expanding the reach of financial advisors.