M&A Compliance & Due Diligence Director

About Wealth Enhancement Group

Wealth Enhancement is an independent wealth management firm with an endless passion for enriching the lives of our clients. We continually seek to perfect our craft of personalized financial planning with our team-based Roundtable and UniFi processes that go far beyond the standard approach. We proudly provide unique financial plans and investment management services to over 61,000 households from our over 100 offices - and growing - nationwide.

Since 1997, Wealth Enhancement has tirelessly raised the standard of wealth management with specialized knowledge and more attentive service that helps every client craft their future. For more information, please visit www.wealthenhancement.com.

The M&A Compliance & Due Diligence Director reviews potential firms and advisors that may be acquired with a focus on their existing compliance program. The purpose of this in-depth review is to identify and/or remediate any concerns prior to moving forward to the next step within the M&A process.

This role drives accountability for all regulatory and compliance procedures and processes to help ensure the acquisition aligns with WEG as a compliant organization focused on client centricity. This role partners closely with key stakeholders including Investments, Advisory Services, Legal, Finance, Marketing and Senior Leaders to assure all compliance expectations are proactively communicated and led from a culture of compliance.

Primary Job Functions

Establishes, maintains and manages WEG’s M&A Compliance Diligence program and strategies so WEG maintains good standing with Federal and State Laws. (FINRA/SEC and state regulations).

• Develops operational strategies by evaluating trends; establishing critical measurements; determining production, productivity, quality, and customer-service strategies; designing systems; resolving problems; implementing change in line with organizational objectives

• Protects assets by communicating compliance standards; anticipating emerging compliance trends; designing improvements to internal control structure

Determines potential risk areas and conducts diligence reviews to identify potential concerns with SEC/FINRA rules and regulations.

• Conduct Compliance Due Diligence on identified acquisition firms

• Review the firm’s compliance processes, procedures and documents

• Conduct key reviews of: ADV filings, Policies & Procedures, Code of Ethics, SEC Audits, OBA's, Fiduciary Capacity, Complaints/Disclosures, Investment Management Agreements (MSA), Planning Agreements, Custody/Fees, Foreign Clients, Products offered, etc.

• Conduct Acquisition Compliance Call

• Progresses methodology for determining potential risk areas identifiable through the diligence process and identifies and incorporates all relevant sources of data to ensure a comprehensive analysis of risks with target firms or individuals. 

Responsible for maintaining compliance information relevant to M&A within WEG systems for the firm.

• Document key issues in DealRoom (DR), labeling issues by level of severity

• Assign appropriate WEG department and/or associate to address identified  issues to research and resolve

• Providing summary level overview of compliance and supervisory risks to business partners

Handles complex business reviews involving advanced knowledge of business situations, customer account transaction patterns, and overall M&A situations. 

• Conducts reviews with the business line and other staff stemming from system generated and/or external requests; analyze and investigate significant case escalations. Work cooperatively with other institutions or local, state, or federal authorities to investigate suspicious account activity. 

• Works with Executive Officers to address corrective action taken by management to address compliance deficiencies, including assisting management with implementation of corrective action when necessary and conducting follow-up reviews to determine the adequacy and effectiveness of action taken.

• Preserves orderly and detailed work papers, assists management with the determination of the cause(s) of violations or exceptions, recommends corrective action, conducts exit meetings with management and drafts reports of compliance findings to senior management. 

Education/Qualifications

• Bachelor's degree (or equivalent experience) in Business or related field

• Minimum 7 years Advisory Firm compliance e