Mutual Fund Compliance Professionals
In 2018, there were 9,599 mutual fund companies, according to the market research group Statista. Industry leaders include Black Rock Funds, The Vanguard Group, State Street Global Advisors, Fidelity Investments, JPMorgan, PIMCO, and Capital Group. Compliance professionals work in many other industries—ranging from health care and pharmaceuticals, to energy and telecommunications. They are also employed by government agencies such as the Securities & Exchange Commission.
Participating in an internship is a good way to break into the mutual fund industry. “Internships can give you valuable knowledge that you can apply in the future, such as learning about an industry, building a network, or working in a team environment,” according to Fidelity Investment’s employment Web site. “And an internship can help you get an edge in the job market.” Fidelity offers internships in credit and market risk, audit, reporting and analysis, and other areas that provide good preparation for a career in compliance. Visit the Web sites of companies on your target-employer list to see what type of opportunities are available. You can also learn about internships through social media and your college’s career services offices (which also provides information on career fairs and other network events, resume and interview preparation, and job openings). Finally, visit https://www.corporatecompliance.org/all-jobs and https://www.linkedin.com/jobs/compliance-intern-jobs for internship listings.
Other job-search strategies include applying to mutual fund firms directly, working with a recruiter (such as the Compliance Search Group), checking out job-search sites, and networking online and at in-person events (many of which are sponsored by professional associations).
Mutual fund companies also seek out applicants who have experience with regulators such as the Financial Industry Regulatory Authority, Securities and Exchange Commission, Federal Reserve, Office of the Comptroller of Currency, as well as state regulatory agencies.
Skilled compliance analysts with a few years of experience can advance to the position of senior compliance analyst, and then gradually earn promotion to higher-level positions such as compliance officer and chief compliance officer. As they climb the career ladder, they receive salary increases and performance bonuses.
Tips for Entry
Visit the following Web sites for job listings:
Visit https://news.efinancialcareers.com/us-en/140343/how-to-get-a-job-in-compliance to read “How to Get a Job in Compliance With Little or No Experience.”
Read Corporate Compliance Weekly News (https://www.corporatecompliance.org/publications/newsletters/corporate-compliance-weekly-news-ccwn) and Compliance & Ethics Professional (https://www.corporatecompliance.org/publications/magazines/cep-magazine) to learn more about the field.