Full-Time VP, Compliance – Fidelity Center for Applied Technology, Bitcoin – Fidelity Investments – Boston, MA
At Fidelity, we are focused on making our financial expertise broadly accessible and effective in helping people live the lives they want— from the 23 million people investing their life savings, to the 20,000 businesses managing their employee benefits programs, to the10,000 advisors and institutions needing innovative technology solutions to invest their clients’ money. To do this well, as a privately held company, we place a high degree of value in nurturing a work environment that attracts the best talent and reflects our commitment to being an employer of choice.
Underneath this stable and trusted brand is one of the most interesting innovation practices you never heard of – The Fidelity Center of Applied Technology (‘FCAT”). FCAT is a centralized function whose mandate is to catalyze innovation across the firm. Our FCAT teams prototype and pilot new businesses and capabilities that continue to distinguish our brand as the best customer experience in the financial services industry. Additionally, FCAT’s world class research team identifies trends and works with partners across the innovation ecosystem to “bring the outside in.”
FCAT collaborates with MIT, Harvard, Stanford and other academic institutions, hosts TedX Boston, and partners with Accelerators, Start Ups and other industry leaders to drive new ideas and innovation practices across the firm.
As part of this practice, FCAT is continuing to build industry leading entrepreneurship capabilities to systemically and repeatedly create new businesses beyond our core. Using Lean Start Up, Design Thinking and Agile methodologies, FCAT rapidly move ideas from concept to scale.
The Director of Compliance is a senior level position within Fidelity’s Enterprise Compliance group with a great deal of growth potential responsible for working within FCAT providing compliance support to ensure that cryptocurrency and blockchain related products and services being developed by FCAT meet regulatory requirements.
- Develop and implement a compliance program for FCAT cryptocurrency and digital currency initiatives that meets relevant regulations and applicable federal and state laws in scalable fashion
- Create policies and procedures, systems, and tools in an emerging regulatory and technology space
- Track new laws, regulations and other guidance applicable to the relevant services offered by FCAT
- Articulate clear, fact-based points of view regarding digital currency and cryptocurrency and providing advice and guidance on a wide range of compliance/regulatory issues
- Effectively engage with business partners, including Legal, Risk, Enterprise Compliance, FCAT and vendors to understand operational and regulatory risks in a complex and emerging environment
- Analyze complex rules and requirements and work with senior management to recommend appropriate tools for monitoring, analyzing and communicating regulatory developments
- Act as a subject matter expert, answer questions, and create compliant, creative solutions
- Establish and maintain an effective relationship with business partners within FCAT and Compliance
- Identify areas where internal and business unit reporting is needed and define requirements for reports
- Review new services created to ensure the design is in accordance with relevant regulatory requirements, including project support from development and approval of business requirements through roll-out, and approval of related internal and external collateral
- Support compliance efficiency and quality by participating in cross entity discussion and monitoring of compliance information related to new laws and regulations
- Create and finalize regulatory filings, reports and responses to regulators on inquiries and coordinate with FCAT partners and vendors, Legal, Risk, Enterprise Compliance and other Fidelity
- Fidelity business units in preparing regulatory filings, reports and responses
Education and Experience
- Bachelor’s degree
- JD preferred
- 10 or more years of experience in financial services, banking, or other highly regulated industry
- Experience developing and establishing compliance programs
- Experience in payment processing, banking, or money services business (MSB) preferred
- Experience in cryptocurrency preferred
- Strong knowledge of state and federal laws, regulations and related guidance governing payment systems, MSBs, or federal or state chartered banks or trust companies
- Strong knowledge of compliance, risk and operational applications preferred
- Strong knowledge of compliance and regulations in the cryptocurrency preferred
- Strong communication and facilitation skills
- Excellent analytical, regulatory interpretation, oral and written communication, presentation, and influence skills
- Excellent organizational and project/process management skills
- Excellent oral and written presentation skills
- Sound judgment to assess and prioritize risks and issues carefully, and identify items requiring escalation
- Ability to work with a cross functional team and handle multiple tasks and priorities
- Ability to master quickly and navigate a complex legal and organizational structure
- Ability to absorb complex and interrelated regulatory requirements and interpretations and find practical solutions to compliance challenges
Ability to build important working relationships with colleagues in a number of business units.
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