Job Description

The City of Philadelphia Board of Pensions and Retirement is seeking a Chief Compliance Officer (CCO). This position will report directly to the Pension Executive Director.

Essential Functions

The CCO will be responsible for guidance and advice, oversight, and the development and implementation of policies or practices, relating to compliance by the Members and Employees of the Board of Pensions, with all applicable federal, state and city laws, Charter, codes, or regulations (including fiduciary, ethical, and contractual duties), applicable City Mayor Executive Orders and City Administration policies, and Board regulations, rules, and policies, for the management and administration of the Philadelphia Public Employees Retirement System (“Retirement System”) and management and control of the Pension Fund.. This includes, but is not limited to:

• Assist, support and advise the Board Members, including designated Alternates, relating to any compliance issue involving their administration or management of the Retirement System, management or control of the Pension Fund, or their official actions as a Board Member;

• Assist, support and advise the Chairperson (or Alternate Chairperson) or, in their absence, the Vice-Chairperson, relating to any compliance issue arising out of the scheduling or conduct of the Board’s official public meetings, with respect to governing rules of order, or applicable laws such as Sunshine Act or Right to Know Act, or laws, regulations or rules of similar import; Law, the Code, Board regulations, and other applicable law

• Assist, support and advise the Executive Director and Board Administrative Staff relating to any compliance issues arising out of benefit administration, including any adjudications by the Board or a panel of the Board Members of benefit decision appeals;

• Assist, support and advise the Executive Director and Board Administrative Staff relating to compliance issues arising out of any audits of the Retirement System, including audits by the Auditor General, and the Retirement System’s Auditor;

• Assist, support and advise the Executive Director and Board Administrative Staff relating to compliance issues with any financial, accounting, budgeting, or payment policies or requests, of City Council, the Office of the Finance Director, the Office of the City Treasurer, the Office of the Budget Director, or of any of their Administrative Staff;

Assist, support and advise the Executive Director and Board Administrative Staff relating to compliance issues arising out of the procurement, award of contracts, and payment of third party providers or vendors to the Retirement System or the Board, including e.g., Auditor; Medical Panel; Actuary; Custodian of Assets; Shareholder Proxy or Proposal Consultant; Private Equity Consultant; and General Investment Consultant;

• Assist, support and advise the Executive Director, Chief Investment Officer (“CIO”), and Investment Staff relating to compliance issues arising out of all existing and prospective investment manager contract relationships that manage funds or investments for the Retirement System under the administration or oversight of the Board, including the Deferred Compensation Plan.
• Assist, support and advise the Executive Director, CIO and Investment Staff relating to compliance issues arising out of the administration or operation of the operating account, individual manager accounts, cash balance accounts, money market accounts, and all other accounts holding assets of the Retirement System, including the Pension Fund or the Deferred Compensation Plan;
• Assist, support and advise the Executive Director, CIO, and Investment Staff relating to compliance issues arising out shareholder proxy voting and shareholder proposals or advocacy;
• Assist, support and advise the Executive Director, CIO, and Investment Staff relating to compliance issues concerning restricted or prohibited investments (e.g., Sandy Hook Principles; Investments in Northern Ireland, Sudan, Iran or Russia; with tobacco or gun manufacturers or predatory lenders or operators of private prisons);
• Assist, support and advise the Executive Director, CIO, and Investment Staff relating to compliance issues arising out of investment manager billing, capital calls, distributions, management fees, carried interest, and any organizational announcements or proposed transactions that require consent or may pose material risk to the investment;
• Assist, support and advise Board Members, Executive Director, CIO, Board Administrative or Investment Staff relating to any compliance issues arising out of City Charter, Retirement Code or Board policies involving conflicts of interest, official Board business travel, expense reimbursement, and similar ethical conduct issues; and
• Assist, support and advise the Executive Director, CIO, Administrative Staff, and Investment Staff relating to any other compliance issues as they may arise or as requested by the Executive Director or resulting from enacted or prospective legislation or regulations, judicial decisions, or adoption or promulgation of generally accepted standards or “best practices”.
• Perform related work as required.

Work-Life

Working hours are at least 37.5 hours per week. Our team is currently hybrid with both virtual and in-office days; however, the position can opt to come in the office each day if desired.

Qualifications

Completion of a Master’s Degree program from an accredited college or university with major coursework in business administration, finance, economics, accounting, risk management or a closely related field is desired or a Juris Doctor degree from an accredited law school is preferred. Qualified candidates will have a minimum of seven years of experience in a financial institution, large corporation, governmental agency, consulting firm, or similar organization, which has included the experience like the requirements outlined above.

Additional Information

TO APPLY: Interested candidates must submit a cover letter and resume.

Salary Range: $125,000 - $160,000

Discover the Perks of Being a City of Philadelphia Employee:

• Transportation : City employees get unlimited FREE public transportation all year long through SEPTA’s Key Advantage program. Employees can ride on SEPTA buses, subways, trolleys, and regional rail for their daily commute and more.
• Parental Benefits: The City offers its employees 6 weeks of paid parental leave.
• We offer Comprehensive health coverage for employees and their eligible dependents.
• Our wellness program offers eligibility into the discounted medical plan
• Employees receive paid vacation, sick leave, and holidays
• Generous retirement savings options are available
• Pay off your student loans faster - As a qualifying employer, City of Philadelphia employees are eligible to participate in the Public Service Loan Forgiveness program. Join the ranks of hundreds of employees who have already benefited from this program and achieved student loan forgiveness.
• Unlock Tuition Discounts and Scholarships - The City of Philadelphia has forged partnerships with over a dozen esteemed colleges and universities in the area, ensuring that our employees have access to a wide range of tuition discounts and scholarships. Experience savings of 10% to 40% on your educational expenses, extending not only to City employees but in some cases, spouse and dependents too!

Join the City of Philadelphia team today and seize these incredible benefits designed to enhance your financial well-being and personal growth!

_ *The successful candidate must be a city of Philadelphia resident within six months of hire_

Effective May 22, 2023, vaccinations are no longer required for new employees that work in non-medical, non-emergency or patient facing positions with the City of Philadelphia. As a result, only employees in positions providing services that are patient-facing medical care (ex: Nurses, doctors, emergency medical personnel), must be fully vaccinated.

The City of Philadelphia is an Equal Opportunity employer and does not permit discrimination based on race, ethnicity, color, sex, sexual orientation, gender identity, religion, national origin, ancestry, age, disability, marital status, source of income, familial status, genetic information or domestic or sexual violence victim status. If you believe you were discriminated against, call the Philadelphia Commission on Human Relations at 215-686-4670 or send an email to faqpchr@phila.gov.

For more information, go to: Human Relations Website: http://www.phila.gov/humanrelations/Pages/default.aspx