Senior Manager, Compliance and Legal

3 weeks ago

Toronto ON, Canada University of Toronto Asset Management Corporation Full time

To Apply

Submit your resume and a cover letter explaining how your qualifications and experience make you a suitable candidate for this position to careers@utam.utoronto.ca. Include “Your Name – Senior Manager, Compliance” in the subject line. UTAM thanks all applicants but will only respond to candidates selected for an interview. 

About UTAM

University of Toronto Asset Management (“UTAM”) is the investment manager of the University of Toronto’s endowment and short-term working capital assets. We are a high-performing and collaborative organization committed to bringing value to the university. We invest globally across various asset classes, applying a clear set of responsible investing principles. Please refer to for more information about UTAM.

Position Summary

The Compliance team is within Operations. In this role, which reports to the Chief Operating Officer (also the Chief Compliance Officer), we seek an investment compliance and/or legal professional with experience developing and implementing a compliance program relevant to an OSC portfolio manager registrant. The ability to lead the drafting and implementation of policies and procedures is essential to this position, which also involves managing investment legal work, particularly concerning reviewing and analyzing investment agreements internally or with outside counsel's support. This opportunity is ideal for someone analytical and detailed, possesses superior communication skills and is comfortable with producing written material (e.g., policies and procedures, reports), delivering verbal communications (e.g., training, presentation to internal committees) and managing investment legal matters.

Ultimately, the incumbent is expected to lead and execute the programs and advance their continued improvement. For the right candidate, there is potential to be appointed as Chief Compliance Officer within a reasonable timeframe.

This is a great opportunity to join a collaborative and high-performing team of investment professionals within a flat organization and directly contribute to UTAM’s investment activities.

Responsibilities

The responsibilities associated with this position include the following:

  • Strongly contribute to UTAM’s commitment to sound compliance practices.
  • Develop, maintain, and promote policies and procedures for regulatory compliance, internal standards, client restrictions, limits, and guidelines, including coordinating the policy review program.
  • Administer the provisions of the code of ethics, including personal trading policy requirements.
  • Ensure that UTAM and registered individuals meet the administrative requirements of an OSC registrant (e.g., undertake and maintain required filings).
  • Monitor and evaluate emerging securities laws and regulations and those related to other matters, including anti-money laundering and Canadian economic sanctions.
  • Develop and execute the compliance testing program, including preparing required internal reports.
  • Develop and deliver compliance training materials.
  • Support the COO in addressing any regulatory enquiries, surveys, etc.
  • Prepare quarterly and annual compliance reports to the Board of Directors.
  • Maintain open communication channels with staff to ensure they have access to compliance resources.
  • Review UTAM’s communications channels for compliance (e.g., website, annual report).
  • Maintain appropriate records to document activities under the Compliance program.
  • Manage UTAM’s investment legal work, including reviewing investment documentation, negotiating confidentiality agreements and side letters, and reviewing investment subscription and commitment agreements.
  • Liaise and coordinate with external legal counsel for securities law, investment legal activities, and other items.
  • Maintain appropriate records of investment legal activities in our document management system.
  • Represent UTAM in industry groups.

Requirements and Experience

The ideal candidate is expected to have:

  • Qualifications to satisfy educational requirements for CCO registration are desirable as this position may lead to an appointment as Chief Compliance Officer.
  • University undergraduate degree (preferably in Business, Law, or English).
  • CA CPA or LLB in good standing, an asset.
  • Completion of Canadian Securities Course and Partners, Directors, and Senior Officers’ Course. 
  • Completion of, or progress toward, CFA (desirable but not required).
  • A minimum of 7 years of progressive investment compliance experience, particularly in an environment with institutional advisory clients.
  • Experience managing legal matters (noting that the incumbent is not expected to undertake complex legal analysis unless also a qualified lawyer).
  • Ability to read, interpret, and communicate regulatory and legal requirements in plain language.
  • Experience in preparing and presenting clear and concise materials.

Personal Characteristics

  • Unquestionable ethics, integrity, and sound judgment.
  • Strong technical, analytical, and communications skills, including effective interpersonal skills.
  • Organized, flexible, and personable, with high accuracy and strong attention to detail. 
  • Exceptional written and verbal communication skills.
  • Proficiency in MS Office, particularly Excel, Word, and PowerPoint. 
  • Ability to meet strict deadlines by multitasking and prioritizing assigned deliverables under pressure.

Compensation

A competitive total compensation package is offered, including a defined-benefit pension plan and financial and paid leave support in completing approved designations.

Diversity Statement

UTAM is strongly committed to diversity and especially welcomes applications from racialized persons/persons of colour, women, Indigenous / Aboriginal People of North America, persons with disabilities, LGBTQ2S+ persons, and others who may contribute to the further diversification of ideas. Our values regarding equity and diversity are linked with our unwavering commitment to excellence in pursuing our mission.

Accessibility Statement

UTAM is committed to the principles of the Accessibility for Ontarians with Disabilities Act (AODA). As such, we strive to make our recruitment, assessment, and selection processes as accessible as possible and provide accommodations as required for applicants with disabilities. If you require any accommodations at any point during the application and hiring process, please contact humanresources@utam.utoronto.ca.

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