Regulatory and Compliance, ERISA - Senior Vice President
iCapital · Salt Lake City, United States +2 · 13d ago
About the Role
The Senior Vice President of ERISA Compliance is responsible for leading iCapital's enterprise-wide compliance program relating to the Employee Retirement Income Security Act of 1974 (ERISA), Department of Labor (DOL) regulations, prohibited transaction exemptions, and Qualified Professional Asset Manager (QPAM) compliance requirements. This role serves as the primary subject matter expert for ERISA-related regulatory obligations impacting iCapital's registered investment advisers, collective investment trusts (CITs), retirement-focused investment products, and retirement-plan clients.
This individual will partner closely with Legal, Product, Operations, Finance, Investment Management, and Distribution teams to develop and maintain policies, procedures, testing programs, training, and governance frameworks designed to ensure compliance with ERISA fiduciary standards and QPAM exemption requirements. This SVP will play a key role in regulatory examinations, new product launches, and transaction reviews.
Responsibilities
ERISA Compliance Oversight
- Work with the Registered Funds CCO to develop, maintain, and enhance ERISA compliance policies, procedures, controls, and monitoring programs.
- Provide regulatory guidance regarding fiduciary duties, plan-asset rules, prohibited transactions, party-in-interest restrictions, and applicable exemptions.
- Advise business stakeholders on ERISA implications of investment products, distribution activities, service arrangements, and operational processes.
- Monitor legal and regulatory developments from the Department of Labor, IRS, SEC, and other regulatory authorities and assess impacts on the business.
- Design and administer risk-based compliance reviews relating to ERISA and retirement-plan business activities.
- Implement monitoring programs, testing protocols, certifications, and issue-management processes.
QPAM Compliance Program Management
- Oversee the firm's ongoing compliance with the Qualified Professional Asset Manager (QPAM) Exemption and related requirements.
- Maintain and execute QPAM monitoring and testing programs, including annual and periodic certifications.
- Coordinate reviews of QPAM eligibility criteria, including assets under management, shareholder equity, affiliate requirements, and integrity standards.
- Establish and maintain documentation evidencing compliance with QPAM conditions and regulatory requirements.
- Partner with Legal and business stakeholders regarding transactions that may rely on the QPAM exemption or other prohibited transaction exemptions.
Qualifications
- Bachelor's degree required; J.D., MBA, or other advanced degree is preferred
- 10+ years of experience in investment adviser, asset management, retirement, ERISA, legal, or compliance functions
- Deep knowledge of ERISA fiduciary standards, prohibited transaction rules, and Department of Labor regulations
- Familiar with collective investment trusts (CITs), private funds, alternative investments, and institutional asset management
- Experience developing compliance programs, controls, testing frameworks, and governance processes.
- Strong analytical, communication, and problem-solving skills
- Experience with QPAM compliance programs and prohibited transaction exemptions
Benefits
The base salary range for this role is $150,000 to $200,000. iCapital offers a compensation package which includes salary, equity for all full-time employees, and an annual performance bonus. Employees also receive a comprehensive benefits package that includes an employer matched retirement plan, generously subsidized healthcare with 100% employer paid dental, vision, telemedicine, and virtual mental health counseling, parental leave, and unlimited paid time off (PTO).
We believe the best ideas and innovation happen when we are together. Employees in this role will work in the office Monday-Thursday, with the flexibility to work remotely on Friday.
For additional information on iCapital, please visit https://www.icapitalnetwork.com/about-us Twitter: @icapitalnetwork | LinkedIn: https://www.linkedin.com/company/icapital-network-inc | Awards Disclaimer: https://www.icapitalnetwork.com/about-us/recognition/
iCapital is proud to be an Equal Employment Opportunity and Affirmative Action employer. We do not discriminate based upon race, religion, color, national origin, gender, sexual orientation, gender identity, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.