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Compliance Director

First Republic

This is a Full-time position in Los Angeles, CA posted May 13, 2022.

OverviewAt First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here. Incredible teams doing exceptional work, every dayFirst Republic Investment Management, Inc. ( FRIM ) is an investment adviser registered with the SEC. FRIM has an affiliated broker-dealer, First Republic Securities Company, LLC, and is a wholly owned subsidiary of First Republic Bank. Eagle Alternative Investments is FRIM’s private investment fund platform. As of December 2020, FRIM had approximately $106b in assets under management with over $5B in alternative investments. The Senior Associate will be part of the Alternative Investments Compliance Team, which provides advice and guidance to business partners regarding the applicability of rules, regulations, controls, and policies and procedures as they pertain to alternative investments under FRIM’s private fund platform.

Duties and


Brief Description of Role:

The Associate Director will assist with the implementation and enhancement of FRIM’s alternative investments compliance program in order to ensure compliance with applicable rules and regulations – these include SEC, FINRA, NFA/CFTC, and CIMA rules and regulations. FRIM’s private fund platform includes (1) FRIM’s proprietary Eagle private funds, which are generally structured as feeder funds (aka funds-of-funds) that invest in private funds managed by third-party investment advisers and (2) private funds managed directly by third-party investment advisers, where FRIM advisory clients make investments directly in the funds. This position will play a key role in conducting compliance due diligence on these third-party private fund managers and monitoring them, as well as reviewing and approving marketing material. The ideal candidate will have previous compliance experience with alternative investments in a high-touch/high-client-experience-expectation organization within a registered investment adviser.

What you’ll do as a Associate Director:

Manage due diligence reviews on third-party asset managers and assist with the enhancement of the compliance due diligence program of the Eagle funds’ sub-advisers, underlying fund managers, and service providersManage the oversight process for third-party managers, including direct fund advisers and advisers on the Eagle platformInteract directly with third-party managers to address follow up matters resulting from the initial due diligence reviews and oversight processAssist with maintaining compliance with the Volcker Rule, including responding to regulatory and internal audit requestsAssist with developing and conducting alternative-investment-specific training sessionsManage the filing process for required SEC and NFA-related regulatory filings as necessary (e.g., Form ADV, Form PF, CTO-PQR, CTA-PR, etc.) and assist with gathering data for the filingsMonitoring/testing of compliance program related policies and procedures (e.g., expense allocation, etc.)Manage and conduct the review process of alternative-related marketing materials to ensure compliance with regulatory guidelines and best practicesAssist with the development of compliance policies and procedures related to the alternatives platformPerform periodic risk assessments of the alternatives business to identify gaps and strengthen controlsProactively identify and champion opportunities to improve compliance efficiencies and minimize risks


You could be a great fit if you have:Strong knowledge of the Investment Advisers Act of 1940 and working knowledge of CFTC/NFA and FINRA requirements, federal securities regulations and securities industry practicesExperience performing operational/compliance due diligence on private equity/hedge fund managersExperience in service provider oversight (e.g., sub-advisers, fund administrators, etc.)Excellent client focus, accurate and logical problem solving, strong written and oral communication skillsGood team player; able to work well with team membersStrong leadership and management skills; able to obtain buy-in from relevant stakeholdersSelf-motivated. Ability to work independently, on multiple deadline-orientated tasks in a high energy environment, and prioritize based on regulatory/operating risk and business needsStrong interpersonal skills; able to work with all levels of staff and Management.Build and maintain good relationships with internal and external business partners.Good organizational and time management skills. Ability to work under pressure and deliver assignments on schedule.5-7 years of experience in the financial services industryBachelor’s degreeJD, MBA, or other advanced degree strongly preferredWe believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic. If you are curious to learn more about this opportunity, we’d love to hear from you.

Job Demands:

Must be able to review and analyze data reports and manuals; must be computer proficient.Must be able to communicate effectively via telephone and in person. Own your work and your career – apply nowAre you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us. We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability – that’s the First Republic way. This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship. First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.

For New York City-based roles:

Mayor Bill de Blasio announced that, effective December 27, 2021, all private sector employers?in New York City will be required to ensure that their employees are vaccinated against COVID-19 to attend work in the office. Reasonable Medical or Religious Accommodations may be requested if applicable to you. Please view New York’s Guidance on Accommodations for Workers for more information.PDN-95f269d9-4755-4405-8c7c-b59c5bfb1213