Broker-Dealer Compliance Specialist
Redwood City, CA
The mission of Wealthfront Inc., an SEC-registered investment adviser, and Wealthfront Brokerage Corporation - our wholly-owned, SEC-registered FINRA member broker-dealer subsidiary - is pretty simple: we believe everyone deserves sophisticated financial advice. In just five short years, Wealthfront has rolled out the features and services that now define a new category that we call “automated investment advisory services.” We are focused on taking services typically reserved for the ultra-wealthy, automating them and delivering them directly to all investors at an incredibly low cost. We have clients in all 50 states who trust us with over $8 billion and those assets under management are growing extremely rapidly. With our clients' trust, we believe we can and will change the financial advisory industry.
Wealthfront is seeking a talented, passionate and experienced professional to support a wide variety of broker-dealer compliance initiatives. As a member of our Legal & Compliance team, you will have a strong focus on broker-dealer compliance and work closely with our attorneys and compliance professionals. Just as importantly, you’ll be supporting other departments across Wealthfront--including the product, design, engineering and marketing teams--to provide the best client experience possible.
What You'll Work On
- Provide general support to Wealthfront’s Legal & Compliance team to ensure that all Wealthfront entities comply with all applicable laws, rules and regulations applicable to the financial advisory industry, including (i) the Securities Exchange Act of 1934, (ii)the Investment Advisers Act of 1940 and other investment-related federal and state statutes, (iii) rules of the SEC, Financial Industry Regulatory Authority (FINRA), Municipal Securities Rulemaking Board (MSRB) and Financial Crimes Enforcement Network (FinCEN)
- Lead, under direction of the Senior Manager / Director of Compliance, the administration of all regulatorily-required monitoring, reporting and escalation (as needed) of registered representatives and non-registered employee activities related to Wealthfront’s Code of Ethics such as personal securities accounts and transactions, outside business activities, political contributions, and others
- Provide compliance support in the onboarding process of new employees, including timely regulatorily-required disclosure of personal securities accounts and transactions, outside business activities, political contributions, and others
- Maintain the Legal & Compliance Regulatory Calendar, responsible for coordinating, updating and filing broker-dealer and investment adviser registrations,disclosures and reports, such as Form ADV, Form BD, Forms U4 and U5, Form 13F, and related continuing education
- Assist with testing compliance policies and procedures of multiple departments to manage and mitigate risk
- Assist with crafting, implementing and updating broker-dealer and investment adviser compliance programs and initiatives
- Actively work with Wealthfront’s business partners to help identify areas of potential risk or non-compliance, and in collaboration with the General Counsel and Chief Compliance Officer, manage the documentation and resolution process
What You Have
- At least three years’ broker-dealer experience in a compliance, operations, and/or supervisory role
- Bachelor's degree
- FINRA Series 7 and 63 licenses required; Series 24 license desired, or willing to obtain within six months of hire at Wealthfront expense
- Experience working with or supporting broker-dealer and/or investment adviser operations strongly preferred
- Experience as a corporate-securities paralegal (working with public company clients) in a national or international law firm also considered
- Experience working with and between Microsoft Office Suite and Google Suite
- Experience using project management and/or compliance management software and solutions
- Strong attention to detail required
- Ability to work in a fast-paced, collaborative environment with strong ability to manage competing priorities
- Strong project management skills
- Self-motivated and efficient, with good business judgment and “take ownership” outlook
- Creative, with the confidence to present and advocate for the implementation of ideas
Wealthfront is the only automated financial advisor to offer financial planning, investment management and banking services exclusively through software. Because of this approach, we've quickly become the automated advisor of choice among young people. Anyone can open a Wealthfront investment account with $500 to access a unique PassivePlus® investment strategy that includes a combination of a diversified portfolio of ETFs and tax minimization strategies. All clients receive financial planning through the service at no additional cost. Wealthfront does not charge management fees on the first $10,000 and for amounts above that the annual management fee is 0.25% - a fraction of what financial advisors typically charge. The majority of Wealthfront clients are in their 30s and 40s and have less than $1 million to invest. Wealthfront was founded by Andy Rachleff and Dan Carroll, who launched the service in December 2011. Wealthfront has raised over $129 million in funding from Benchmark Capital, DAG Ventures, Dragoneer Investment Group, Greylock Partners, Index Ventures, Ribbit Capital, Social Capital and Spark Capital, and is based in Redwood City, CA. For more information please visit www.wealthfront.com.
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
PassivePlus® is a registered trademark and property of CSSC Investment Advisory Services, Inc. (“CSSC”) and is used under license. CSSC and Wealthfront are not affiliated companies.