Compliance Distribution Specialist
Company: T. Rowe Price
Location: Owings Mills
Posted on: January 14, 2018
Our mission as a leading investment management firm is to help our clients achieve their long-term financial goals. We believe our associates are the key to this mission and we are always looking for talented individuals who share our commitment to our client---s success.
If you---re looking for challenging work experiences and the ability to learn in a collaborative culture, we invite you to explore the opportunities available at T. Rowe Price.
PRIMARY PURPOSE OF THE POSITION
The Compliance Distribution Specialist oversees and manages the daily operational and fulfillment process and workflow of T. Rowe Price and non-T. Rowe Price legally required literature (prospectuses, reports, supplements and critical communications) distribution through First dollar in, pre-sale and post-sale channels. The specialist collaborates with managers of internal Business Units (BU), including Legal, Compliance & Risk Management, RPS (Ops and Core), Retail Marketing, USI, Financial Reporting Group, IIC, Treasury, GCO, Internal Agency and outsourced suppliers to ensure accurate and timely delivery of these legally required mailings. This position requires a Subject Matter Expert (SME) for regulatory and legal distribution requirements for multiple fund documents. These requirements vary across multiple lines of business. The Specialist will provide analysis, research, and recommend a comprehensive action plan to ensure the firm adheres to our regulatory and legal requirements, as well as service standards. This person is also responsible for collaborating with Internal Agency associates on time-sensitive tasks related to shareholder regulatory material mailing efforts. This role will be required to have or build a strong understanding of processes and internal partners impacting the development, completion, and distribution of regulatory material. This person will also be responsible for process mapping all group responsibilities and suggesting ideas to improve or reengineer the team---s processes as well as processes managed by other internal business partners and vendors. This person will provide oversight across the Internal Agency. They will perform daily, monthly and quarterly reconciliation for all legally required mailings as well as serve as a consultant to Internal Agency partners in the creation of timelines and schedules for the distribution of said materials. They are the primary contact from IRPS Compliance and Risk Management in order to ensure legal requirements are met. The position will be responsible for project management duties relating to annual mailings and other ad hoc requests. Incumbent will be responsible for research on all reconciliation errors as well as the primary source for decisions about error resolution. They are the primary contact for the vendors to ensure the proper products are delivered and are accountable for meeting legal and contractual SLAs.
Ensures Daily Compliance - Leads compliance efforts and project functions relating to the daily process of legally required mailings (prospectuses, fund reports, supplements and critical communications) to ensure compliance with regulatory guidelines (both government and BU SLA) are met. Collaborate with various business units to make decisions on printing and shipping methods and decisions on whether over time is necessary in order to make deadlines as well as to clearly communicate the prioritization of deliverables/projects with each of our vendors. This position will use numerous reports to reconcile daily fund literature orders, independently identify and resolve issues in a timely manner, and take preventative measures to mitigate risk to the firm---s compliance requirements. Based on results of reports and daily reconciliation process, the incumbent will be required to assess variable risk scenarios, and make swift discretionary and independent decisions. Provides guidance and oversight to Internal Agency personnel to initiate component or literature purchases and proactively looks for opportunities for production and cost efficiencies. Upon discovery of errors, this position will initiate the documentation of incidents, escalate, and often collaborate with GBS&T, BU---s, vendors and Legal Department to initiate investigations in order to meet FINRA and SEC requirements. The incumbent makes recommendations to supervisor to streamline the process and mitigate risk to the department and firm based on various reports. The incumbent will be asked to take a lead role in the implementation and monitoring of these improvements that align or support our BU strategies.
Leads the Organization- Provides industry expertise and leadership for initiatives specializing in legally required mailings and/or distribution. Due to the complexity of the regulatory agencies (SEC, FINRA, etc---), internal systems, BU specific processes, requirements, and policies, this position will provide operational support and leadership to our vendors with regard to new or revised processes, systems enhancements and any other related changes. This person will manage and monitor document and file transfers between T. Rowe Price and suppliers to ensure accuracy of transmissions, kit quality, and compliance regulation requirements. Leverages technologies, alternative solutions, and resources to assist while consulting with the BU---s and Legal to proactively mitigate risk. Leads ad hoc projects (which include supplier moves, strategy changes that impact compliance material, research system related issues that impact inventory levels, etc.) to improve processes and/or business unit processes which are identified and driven by the Compliance Supervisor.
Analysis & Solution Driven - This position will actively produce, analyze, and distribute daily reports on metrics to management and BU---s by compiling information from various sources. These reports will involve daily inventory, track performance, and reconciliation. From these reports, the associate will develop and provide a recommendation to suppliers, RPS, Retail, Fulfillment Coordinators and the Supervisors to ensure the metrics are maintained accurately and efficiently. Will leverage internal T. Rowe Price applications to streamline the process and identify efficiencies while reducing risks to the distribution and availability of regulatory material. Provide direction and consultative knowledge to internal team members and the BU---s to initiate and complete component reprints within acceptable regulatory/policy guidelines. This incumbent will be tasked with identifying operational challenges and propose alternative solutions to their Supervisor in an effort to mitigate risk and improve efficiencies. The incumbent will also be tasked with any necessary training of interns and/or new employees on systems and processes. This associate will identify staff development opportunities, explore training options to accommodate and direct the employee to do so.
ECM Upload Support: This role will also be responsible for the upload of regulatory shareholder mailing digital material to the Global Document Center including but not limited to SICAV, OEICs, AUT, XBRL, Prospectuses, Shareholder Reports, S.A.I, stickers, Portfolio Holdings, etc
- College degree, or Associate degree and 2 years related work experience, or High school diploma/equivalent and 3 years related work experience
- Strong organizational and prioritization skills
- Strong work ethic
- Ability to handle multiple tasks and projects while meeting deadlines
- Ability to work in pressure and fast paced environment
- Excellent verbal and written communication skills
- Ability to communicate with all levels of staff and management
- Excellent computer skills with emphasis on MS Excel and Access
- Detail oriented is a must
- Interpersonal skills
- Highly motivated and proactive team player
- Problem solving and issue resolution skills
- Strong customer service skills
- High level of integrity
- Highly quality-conscious
- College degree with 3-5 years work experience preferred
- 2-3 years experience working with suppliers and/or managing supplier relationships preferred
- Financial, operations, print production, inventory management, direct mail and/or customer service experience preferred
- Experience with digital and traditional print color management
- Knowledge of USPS regulations
- Understanding of data/mail lists associated with direct mail or fulfillment campaigns
- Experience in Fulfillment distribution and operations, direct mail applications, systems, and processes
- Strong knowledge of Retirement Plan Services, Retail, and FA/FI legally required (compliance) literature distribution
- Strong knowledge of 401K industry as it pertains to compliance delivery
- Manufacturing and procurement (buy-side) experience
- Strong preference for print- and fulfillment-related systems development and implementation
- Procurement system experience
T. Rowe Price is an Equal Opportunity Employer
Keywords: T. Rowe Price, Baltimore, Compliance Distribution Specialist, Professions, Owings Mills, Maryland
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