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Mutual Fund Compliance Professionals

Work Environment

Compliance professionals work in a typical—but fast-paced—business environment with standard work hours (Monday-Friday, 9 to 5). A small amount of travel is required to industry conferences and to board meetings. At a large firm, a chief compliance officer is assisted by a large staff. At a small firm, the CCO may have to work solo or only have a handful of assistants. This job can be stressful because compliance professionals are tasked with identifying and addressing risk areas in a wide range of areas—from the funds/financial products, to advertising, to the actions of portfolio managers. The stakes are rising for compliance professionals. The Securities & Exchange Commission is seeking to hold compliance officers personally responsible for fraud that happens under their watch. SEC chairman Mary Jo White made the following remarks at the Securities Enforcement Forum in 2013 that might give some compliance professionals pause: “We are focusing on deficient gatekeepers—pursuing those who should be serving as the neighborhood watch, but who fail to do their jobs…. we are looking for the ‘broken windows’ in our markets—and not overlooking the small violations to avoid breeding an environment of indifference to our rules.”

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