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Salary: USD 150,000 - 200,000 / annual
iCapital seeks a Senior Vice President of ERISA Compliance to lead the company'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.
You will serve 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 role partners 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. You will play a key role in regulatory examinations, new product launches, and transaction reviews.
Key responsibilities include:
- Developing, maintaining, and enhancing ERISA compliance policies, procedures, controls, and monitoring programs in partnership with the Registered Funds Chief Compliance Officer
- Providing regulatory guidance regarding fiduciary duties, plan-asset rules, prohibited transactions, party-in-interest restrictions, and applicable exemptions
- Advising business stakeholders on ERISA implications of investment products, distribution activities, service arrangements, and operational processes
- Monitoring legal and regulatory developments from the DOL, IRS, SEC, and other regulatory authorities and assessing impacts on the business
- Designing and administering risk-based compliance reviews relating to ERISA and retirement-plan business activities
- Implementing monitoring programs, testing protocols, certifications, and issue-management processes
- Overseeing the firm's ongoing compliance with the QPAM Exemption and related requirements
- Maintaining and executing QPAM monitoring and testing programs, including annual and periodic certifications
- Coordinating reviews of QPAM eligibility criteria, including assets under management, shareholder equity, affiliate requirements, and integrity standards
- Establishing and maintaining documentation evidencing compliance with QPAM conditions and regulatory requirements
- Partnering with Legal and business stakeholders regarding transactions that may rely on the QPAM exemption or other prohibited transaction exemptions
The role works in the office Monday-Thursday, with flexibility to work remotely on Friday.
REQUIREMENTS:
- Bachelor's degree required; J.D., MBA, or other advanced degree 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
- Familiarity 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
