Senior Vice President of ERISA Compliance

Job Description

Regulatory and Compliance, ERISA – Senior Vice President | iCapital

The Tone:
This is a full-time, hybrid role at iCapital. iCapital provides financial technology and investment solutions to expand access to alternative investments for wealth managers and their clients. This role is critical in leading the enterprise-wide compliance program for ERISA and related regulations, ensuring the firm adheres to complex fiduciary standards for its retirement-focused products and clients. This individual will serve as the primary subject matter expert, safeguarding iCapital’s operations and reputation in the retirement plan market.

The TL;DR
• Role: Full Time
• Type: Hybrid
• Location: Hybrid
• Pay: $150000–$200000 yearly
• Team: Enterprise-wide compliance function, partnering with Legal, Product, Operations, Finance, Investment Management, and Distribution teams.
• Mission: Lead iCapital’s enterprise-wide compliance program relating to ERISA, DOL regulations, prohibited transaction exemptions, and Qualified Professional Asset Manager (QPAM) compliance requirements.

What You’ll Actually Do
• ERISA Compliance Oversight: Work with the Registered Funds CCO to develop, maintain, and enhance ERISA compliance policies, procedures, controls, and monitoring programs.
• Regulatory Guidance: Provide regulatory guidance regarding ERISA fiduciary duties, plan-asset rules, prohibited transactions, party-in-interest restrictions, and applicable exemptions.
• Business Advisement: Advise business stakeholders on ERISA implications of investment products, distribution activities, service arrangements, and operational processes.
• Regulatory Monitoring: Monitor legal and regulatory developments from the Department of Labor, IRS, SEC, and other authorities, assessing their impacts on the business.
• QPAM Program Management: Oversee the firm’s ongoing compliance with the Qualified Professional Asset Manager (QPAM) Exemption, including maintaining and executing monitoring and testing programs.

The Must-Haves
• Background: Bachelor’s degree with 10+ years of experience in investment adviser, asset management, retirement, ERISA, legal, or compliance functions.
• Experience: Developing compliance programs, controls, testing frameworks, and governance processes, specifically with QPAM compliance programs and prohibited transaction exemptions.
• Skills: Deep knowledge of ERISA fiduciary standards, prohibited transaction rules, and Department of Labor regulations, coupled with familiarity with collective investment trusts (CITs), private funds, alternative investments, and institutional asset management. Strong analytical, communication, and problem-solving skills are essential.
• Bonus: J.D., MBA, or other advanced degree.