Manager Investment Operations/Cco

Midland States Bancorp, Inc Joliet , IL 60432

Posted 2 months ago

Midland Financial Advisors, a SEC Registered Investment Advisory Firm, an Affiliate of Midland States Bank

The Operations Manager/CCO is responsible for managing the operational, compliance, and risk management activities for the department. Operational activities include trading, cashiering, client servicing, reporting, and systems administration. The Operations Manager/CCO is also responsible for developing, monitoring and managing the firm's compliance policies and procedures.

Primary Accountabilities


  • Direct and coordinate the efforts of the Operations team to ensure the delivery of efficient and responsive support, timely and accurate completion of responsibilities for which the department is charged, and to provide for the professional development and growth of department personnel.

  • Identify and implement operational efficiencies and process improvements to reduce department risk exposure and improve compliance.

  • Implement periodic portfolio rebalancing and trading as needed.

  • Track and review portfolio investment performance reports.

  • Provide project leadership and oversight for strategic initiatives and project management within wealth management group.

  • Negotiate vendor contracts and oversee vendor relationships to ensure maximum vendor performance and compliance with established service levels and policies.

  • Develop, continuously review, update/revise, and implement a strategic plan to support the growth, efficiency, and profitability of the department.

  • Serve as system administrator and subject matter expert for department's information systems and will also serve as the business unit liaison with Information Technology, Security and Bank Operations.

  • Design, implement, and test a disaster recovery program to provide for business continuity in various disaster or system outage scenarios.

  • Oversees document imaging, file management, and document retention for the department.

  • Provide reports on a regular basis, and as directed or requested, to senior management.


  • Develop, monitor and manage firm's compliance policies and procedures.

  • Manage the day-to-day operation of the Compliance Program.

  • Maintain all regulatory required filings and registrations - initial, amendments and renewals for the firm and its employees.

  • Maintain all regulatory required disclosure documents.

  • Respond to requests for information regarding firm, its employees or its clients by regulatory bodies.

  • Collaborate with other departments to direct compliance issues to appropriate channels for investigation and resolution and communicates with various legal and regulatory bodies to understand current and new rulings affecting the firm and its operations.

  • Review and approve responses to complaints and coordinate proper reporting of complaints, violations, or potential violations to duly authorized enforcement agencies as appropriate and/or required.

  • Monitor / review account activity, correspondence, and advertising in accordance with policies and regulations.

  • Facilitate any examinations performed by regulators or auditors.

  • Develops and periodically reviews and updates department policies. Communicates policies to all employees.


  • Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).

  • Perform other duties as assigned.

Position Qualifications


  • Bachelor's degree required

  • Minimum of 10 years of prior experience in customer service, operations, and/ or compliance

  • Minimum of 5 years of direct supervisory or management level experience

  • Advanced industry training and/or certifications such as Series 7, 24, 65/66 may be required.

Competencies/Other Skills:

  • Strong understanding and knowledge of industry best practices and regulatory expectations for operations, compliance, and risk management of a financial services firm (RIA, brokerage, and/or trust department)

  • Solid strategic thinker and problem solver

  • Strong communication skillsinternal and external

  • Detail-oriented, accurate, organized, able to set priorities

  • Self-starter, takes initiative

  • Team player, with strong coaching, feedback and listening skills

  • Ability to lead change through relationship building, indirect management and influence

Midland States Bancorp, Inc. is an Equal Opportunity/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, gender identity, sexual orientation, protected veteran status, or any other applicable federal or state-protected classification.


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Manager Investment Operations/Cco

Midland States Bancorp, Inc