Client Regulatory Manager - Due Diligence Service Team

Wellington Management Company, LLP
Boston, USA
07 Jul 2022
25 Jul 2022
Job Function
Industry Sector
Finance - General
Employment Type
Full Time

Wellington Management offers comprehensive investment management capabilities that span nearly all segments of the global capital markets. Our investment solutions, tailored to the unique return and risk objectives of institutional clients in more than 60 countries, draw on a robust body of proprietary research and a collaborative culture that encourages independent thought and healthy debate. As a private partnership, we believe our ownership structure fosters a long-term view that aligns our perspectives with those of our clients.

We are transitioning to a hybrid work environment where both remote work and the office play a critical role. Our vision is a future where all employees are empowered to work flexibly to drive the best outcomes for our clients. Flexible work is a mindset and a core value. Our employees are encouraged to work remotely two days a week as a standard practice and will have flexibility in terms of working hours.
The DDS team is a specialist client facing team that is dedicated to our US Mutual Fund/Subadvisory clients, interacting directly with our clients and collaborating cross functionally with internal stakeholders. This client channel includes some of the firm's largest clients and represents more than half the assets under management. The DDS team has a reputation where subject matter expertise, client engagement, development of best practices/reporting and collaboration with other internal stakeholders/expertise have resulted in delivering a strong client experience.

This function sits alongside other specialist teams serving this client channel, known internally as USFIG or US Financial Intermediaries Group. These include Client Service Management, Client Operations, Marketing, Relationship Management and Business Development. The DDS team rolls up to the Client Regulatory & Business Communications team.

The DDS team operates as a center of knowledge, conversant in hot topics and regulations that impact US Mutual Fund which are subject to the SEC's 1940 Act rules and how we as a firm have implemented or complied with them on behalf of client portfolios we manage.

Our clients are focused on understanding how we are carrying out responsibilities as investment manager and ultimately to mutual fund shareholders related to things like trading practices, especially around commissions & soft dollars, trading costs, cross trading, IPOs, liquidity, derivatives exposure, transparency around proxy voting and how we manage our business and control risks (oversight and risk management, operational risk, cyber security, business continuity, third party risk). As a result, this role provides broad exposure to how the firm operates and broad engagement across a variety of internal functions.

With respect to the above topics, individuals within this group will be able to provide a level of subject matter knowledge and act as a first level resource for client facing teams (Client Services, Relationship Management, Business Development) as well as engage with clients by email, phone, or in person. For more in-depth discussion, subject matter experts within the firm are engaged.

The team also strives to build structure, consistency and best practices around responding to client inquiries, including associated client reporting.

Most new joiners to the team do not have experience in the 1940 Act rules, but we would expect them to be engaged learners and get up to speed as quickly as possible.

This VP level client facing role has both a client service and reporting oversight component. The candidate will be responsible for a set of clients and develop trusted relationships with them, typically with the Chief Compliance officers and their organizations, representing the firm on '40 act related matters and issues. While working independently, the CRM collaborates with other members of the DDS team, internal functions and other client facing teams to meet client needs, by phone, email or in person/virtually.

This includes coordinating and leading on site and virtual due diligence client meetings and associated questionnaires, handling conversations across a variety of topics, and engaging in other communications, such as notification of exam findings, policy changes, errors, the annual CCO report, and other relevant topics to the USFIG client base.

Additionally, it includes working with DDS analysts to review monthly and quarterly reporting before it goes out to clients as well as understanding and negotiating any new reporting requirements.

As US mutual fund clients are subject to the '40 Act rules and regulations, the work is based on the understanding of these rules. The CRM will also participate in cross functional working groups related to implementation of new '40act rules and the roll out to clients (e.g., Liquidity Rule, Derivatives Rule). The person must also develop trusted relationships internally as they will be working closely with other Client Service and Relationship teams, and will interface with colleagues from Trading, Legal & Compliance, Portfolio Services (Guideline Monitoring, Proxy Voting, etc.), Enterprise Sourcing, Audit, and IT among others.

  • Develop and maintain relationships with Chief Compliance Officers and their teams through on-going client service and regular communication of areas of interest and other material compliance matters
  • Provide expertise to client facing teams on compliance and regulatory topics, reporting issues and questions and engage with functional subject matter experts as needed
  • Participate, as appropriate, in working groups within the firm that impact the compliance and due diligence reporting to clients
  • Review client reporting, prepared by analysts, for accuracy and completeness. Provide direction, as needed, to analysts as they prepare client reports and respond to related client inquiries
  • Ensure consistency and best practice across our compliance and regulatory reporting to clients. Work with the members of DDS to proactively identify needed enhancements for reports and systems and assist the cross- functional efforts to develop solutions
  • Lead and support team projects that seek to improve training, workflows, and processes within the team
  • Attend industry working group meetings and forums, engage with peers and attend conferences to build connections and assess market practice/trends and best practices
  • 10 years' experience in the in the investment management/funds sector
  • Relationship building skills - Ability to develop and maintain relationships with clients and internal stakeholders
  • Excellent interpersonal, verbal, and written communication skills
  • Solutions oriented. Ability to identify, research and resolve unfamiliar issues
  • Strong business judgement and analytical skills
  • Deadline focused, organized self-starter with the ability to manage and prioritize multiple projects and issues; strong attention to detail
  • If a candidate has strong industry experience, but not familiar with US mutual fund regs, we can teach that but expect the candidate will be an active and engaged learner.
  • Ability to synthesize, condense and convey complex regulatory and policy information to key stakeholders in clear, digestible, and simple terms
  • Service oriented; ability to balance regulatory and policy standards with a business perspective
Not sure you meet 100% of our qualifications? That's ok. If you believe that you could excel in this role, we encourage you to apply and welcome a chance to review your background. We are dedicated to building and maintaining a diversified workforce and considering a broad array of candidates with a variety of skill, workplace experiences, and backgrounds.

As an equal opportunity employer, Wellington Management ensures that all qualified applicants will receive equal consideration for employment without regard to race, color, sex, sexual orientation, gender identity, gender expression, religion, creed, national origin, age, ancestry, disability (physical or mental), medical condition, citizenship, marital status, pregnancy, veteran or military status, genetic information or any other characteristic protected by applicable law . If you are a candidate with a disability, or are assisting a candidate with a disability, and require an accommodation to apply for one of our jobs, please email us at .

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