Investment Compliance Officer

This recruitment will remain open until filled, the hiring manager may make a decision at any time and it's in the candidates best interest to apply as soon as possible.

The Washington State Investment Board (WSIB) is a dedicated global investment management organization with over $213.2 billion in assets under management. The WSIB's globally diversified portfolios are comprised of more than 18,500 holdings across 93 countries on 6 continents and in 50 currencies. The WSIB's central mandate is to maximize return at a prudent level of risk.

The WSIB manages investments for 18 retirement plans for public employees, teachers, school employees, law enforcement officers, firefighters, and judges. We also manage investments for several other important public funds that benefit Washington’s industrial insurance program, colleges and universities, and developmental disability programs. The WSIB’s excellent investment performance dramatically contributes to the state’s bottom line.

To learn more about our organization and the work we do, please visit our website at sib.wa.gov and follow us on LinkedIn.

The WSIB operates in a hybrid work environment and this position should anticipate 60% of their time in the office.

The WSIB is seeking candidates for an Investment Compliance Officer in the Legal, Risk, & Compliance Unit. The Investment Compliance Officer reports to the Investment Compliance Manager and provides a value-added layer of compliance oversight to support the goals of the WSIB’s investments in retirement, insurance, permanent, and other trust funds across various asset classes and programs using diverse and often complex investment options and vehicles, on behalf of the beneficiaries served. This position collaborates with LRC staff to design a cohesive, coordinated approach to deploying risk and control resources effectively.

We are looking for a collaborative team player with demonstrated decision-making skills who will take a holistic and creative approach to forecasting and problem solving in unknown or unexplored areas. This position requires someone who is able provide constructive feedback, is committed to process improvement, is detail oriented, and has strong data organization skills.

Duties

IF SELECTED FOR THIS OPPORTUNITY, YOU WILL BE RESPONSIBLE FOR:

Providing reliable and professionally sound and strategic guidance, consultation, and recommendations with a high level of expertise. Areas of focus include:

Global Regulatory Compliance

Developing, reviewing, and submitting policies, procedures, and documents that support investment compliance with global regulations, agency policies, and federal, state, and foreign laws. This includes creating and monitoring automated compliance alerts to ensure internal and investment manager compliance with Board policies, investment management guidelines, and applicable laws and regulations, as well as completing timely filings with agencies such as the Securities and Exchange Commission and Federal Reserve Board.

Regulatory and Market Documentation

Reviewing and negotiating global regulatory and other investment documents to ensure accuracy and compliance with state laws and agency policies. This includes developing and managing policies and procedures in support of global regulatory compliance, foreign capital market standards and complex investment forms.

Personal Investment and Gift Compliance

Managing the personal investment and gifts policies including monitoring and approval of staff investments, monitoring staff compliance, and recommending modifications and waivers to the Investment Compliance Manager and Legal, Risk, and Compliance Director. This also includes communicating with agency staff to identify reportable activities and presenting key analytic reports on Board and staff compliance to the Audit Committee.

Salary

• $113,712 - $180,000/year

Qualifications

COMPETITIVE APPLICANTS WILL HAVE:

• Bachelor’s degree in accounting, finance, business administration, public administration business law, or a closely aligned field or degree from an accredited law school.

• Four years’ experience in auditing (internal or external), due diligence reviews, and/or compliance testing activities.

• Demonstrated honesty and ethical conduct.

• Excellent verbal and written communication skills; ability to tailor communication to fit the audience.

• Ability to adapt to changing business needs, conditions, and work responsibilities to achieve successful solutions and results in dynamic situations.

• Exceptional decision-making skills with the ability to balance regulatory requirements with client needs for long-term positive outcomes.

• Consistent commitment to diversity, inclusion, and respect in the workplace.

• Ability to communicate results of work and present information to various audiences.

• Collaborative team player.

THE STRONGEST APPLICANT WILL HAVE:

• Four years’ experience in commercial transactions, such as finance, investments or other commercial transactions.

• Demonstrated experience in risk governance and/or control framework monitoring, including development of scope documents, evaluation and testing of procedures and controls, and issue resolution.

• Knowledge of state and federal laws, financial policies, regulations, and procedures, including federal securities laws and federal filings applicable to pension funds and securities trading.

• Ability to interpret complex documents and apply intricate rules, laws, policies, and procedures.

• Demonstrated experience and expertise in strategic analysis of novel operational, accounting, and legal issues.

If your experience or qualifications look different from what we have identified and you think you can be successful in this position, please address this in your cover letter.

Other Information

In addition to a complete profile, please include:

• A cover letter specifying why this position is of interest to you and how you meet the qualifications listed above. This letter should be no more than two pages.

• A current chronological resume.

• A list of at least three professional references under the profile section. References will not be contacted without the written consent of the applicant but must be submitted at the time of application.

BACKGROUND CHECK:
Prior to a new hire, a background check including education verification, credit check, and criminal record history will be conducted. Information from the background check will not necessarily preclude employment but will be considered in determining applicant’s suitability and competence to perform in the position.

At the WSIB you’ll experience true work-life balance and talented, passionate co-workers focused on maximizing the investment returns for the exclusive benefit of the beneficiaries. The WSIB is a respected institutional investor and thought leader in its industry and we value diverse perspectives and life experiences. The WSIB is supportive of an H1B Sponsorship.

The WSIB is an equal opportunity employer. Women, people of color and those representing diverse ethnicities, persons of disability, persons over 40 years of age, veterans, military spouses or people with military status, and people of all sexual orientations and gender identities are encouraged to apply.

Employees may be eligible for the following benefits:

Medical, Dental, and Vision for employee & dependents; Public Employees Retirement System (PERS); Vacation, Sick, and other Leave; 11 Paid Holidays and 1 Personal Holiday per year; Public Service Loan Forgiveness; Long Term Disability; Life Insurance; Deferred Compensation Programs; Dependent Care Assistance Program (DCAP); Flexible Spending Arrangement (FSA); Employee Assistance Program; Commute Trip Reduction Incentives; professional development opportunities; flexible work schedules; and participation in the Combined Fund Drive; and SmartHealth.

An overview of benefits of state employment and WSIB specifically can also be found on our website.

The WSIB is committed to the full inclusion of all qualified individuals. As part of this commitment, the WSIB will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@sib.wa.gov.

Benefits

More than Just a Paycheck!
Employee benefits are not just about the kind of services you get, they are also about how much you may have to pay out of pocket. Washington State offers one of the most competitive benefits packages in the nation.

We understand that your life revolves around more than just your career. Like everyone, your first priority is ensuring that you and your family will maintain health and financial security. That's why choice is a key component of our benefits package. We have a selection of health and retirement plans, paid leave, staff training and other compensation benefits that you can mix and match to meet your current and future needs.

Read about our benefits:
The following information describes typical benefits available for full-time employees who are expected to work more than six months. Actual benefits may vary by appointment type or be prorated for other than full-time work (e.g. part-time); view the job posting for benefits details for job types other than full-time.

Note: If the position offers benefits which differ from the following, the job posting should include the specific benefits.

Insurance Benefits
Employees and their families are covered by medical (including vision), dental and basic life insurance. There are multiple medical plans with affordable monthly premiums that offer coverage throughout the state.

Staff are eligible to enroll each year in a medical flexible spending account which enables them to use tax-deferred dollars toward their health care expenses. Employees are also covered by basic life and long-term disability insurance, with the option to purchase additional coverage amounts.

To view premium rates, coverage choice in your area and how to enroll, please visit the Public Employees Benefits Board (PEBB) website. The Washington Wellness program from the Health Care Authority works with PEBB to support our workplace wellness programs.

Dependent care assistance allows the employee to save pre-tax dollars for a child or elder care expenses.

Other insurance coverage for auto, boat, home, and renter insurance is available through payroll deduction.

The Washington State Employee Assistance Program promotes the health and well-being of employees.

Retirement and Deferred Compensation
State Employees are members of the Washington Public Employees' Retirement System (PERS). New employees have the option of two employer contributed retirement programs. For additional information, check out the Department of Retirement Systems' web site.

Employees also have the ability to participate in the Deferred Compensation Program (DCP). This is a supplemental retirement savings program (similar to an IRA) that allows you control over the amount of pre-tax salary dollars you defer as well as the flexibility to choose between multiple investment options.

Social Security
All state employees are covered by the federal Social Security and Medicare systems. The state and the employee pay an equal amount into the system.

Public Service Loan Forgiveness
If you are employed by a government or not-for-profit organization, and meet the qualifying criteria, you may be eligible to receive student loan forgiveness under the Public Service Loan Forgiveness Program.

Holidays
Full-time and part-time employees are entitled to paid holidays and one paid personal holiday per calendar year.

Note: Employees who are members of certain Unions may be entitled to additional personal leave day(s), please refer to position specific Collective Bargaining Agreements for more information.

Full-time employees who work full monthly schedules qualify for holiday compensation if they are employed before the holiday and are in pay status for at least 80 nonovertime hours during the month of the holiday; or for the entire work shift preceding the holiday.

Part-time employees who are in pay status during the month of the holiday qualify for the holiday on a pro-rata basis. Compensation for holidays (including personal holiday) will be proportionate to the number of hours in pay status in the month to that required for full-time employment, excluding all holiday hours. Pay status includes hours worked and time on paid leave.

Sick Leave
Full-time employees earn eight hours of sick leave per month. Overtime eligible employees who are in pay status for less than 80 hours per month, earn a monthly proportionate to the number of hours in pay status, in the month to that required for full-time employment. Overtime exempt employees who are in pay status for less than 80 hours per month do not earn a monthly accrual of sick leave.

Sick leave accruals for part-time employees will be proportionate to the number of hours in pay status, in the month to that required for full-time employment. Pay status includes hours worked, time on paid leave and paid holiday.

Vacation (Annual Leave)
Full-time employees accrue vacation leave at the rates specified in WAC 357-31-165(1) or the applicable collective bargaining agreement (CBA). Full-time employees who are in pay status for less than 80 nonovertime hours in a month do not earn a monthly accrual of vacation leave.

Part-time employees accrue vacation leave hours in accordance with WAC 357-31-165(1) or the applicable collective bargaining agreement (CBA) on a pro rata basis. Vacation leave accrual will be proportionate to the number of hours in pay status, in the month to that required for full-time employment.

Pay status includes hours worked, time on paid leave and paid holiday.

As provided in WAC 357-58-175, an employer may authorize a lump-sum accrual of vacation leave or accelerate the vacation leave accrual rate to support the recruitment and/or retention of a candidate or employee for a Washington Management Service position. Vacation leave accrual rates may only be accelerated using the rates established WAC 357-31-165.

Note: Most agencies follow the civil service rules covering leave and holidays for exempt employees even though there is no requirement for them to do so. However, agencies are required to adhere to the applicable RCWs pertaining holidays and leave.

Military Leave
Washington State supports members of the armed forces with 21 days paid military leave per year.

Bereavement Leave
Most employees whose family member or household member dies, are entitled to three (3) days of paid bereavement leave. In addition, the employer may approve other available leave types for the purpose of bereavement leave.

Additional Leave
Leave Sharing
Parental Leave
Family and Medical Leave Act (FMLA)
Leave Without Pay

Please visit the State HR Website for more detailed information regarding benefits.

Updated 12-31-2022