Jason Wachtel talks to Compliance Week about desired skills for compliance officers

Posted on November 18th, 2014 by Kristy Wright Skeehan

leadership-complianceweekIn today’s Compliance Week, JW Michaels Managing Partner Jason Wachtel discussed the need for compliance officers to have excellent leadership and communication skills.

“Companies are seeking compliance leaders who have the ability to influence others, communicate effectively, and build relationships with a wide range of internal and external stakeholders, including regulators. “So you want that person to be polished, well-spoken,” says Jason Wachtel, managing partner of executive search firm JW Michaels.”

Wachtel also discussed the increase in the number of companies hiring people who have worked at the SEC. Read more on “Jason Wachtel talks to Compliance Week about desired skills for compliance officers” »

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JW Michaels named the 20th fastest growing small business in NYC by Symmetry50

Posted on November 4th, 2014 by Kristy Wright Skeehan

SYMMETRY 50

 

On October 28, JW Michaels & Co. was ranked as the 20th fastest growing company on Symmetry50′s annual list of the top 5o fastest growing small businesses in New York City.

Learn more about how JW Michaels has become so successful and see the full list of companies on Symmetry50′s blog: http://www.symmetry50.com/blog/2014/10/21/the-fastest-growing-small-businesses-in-nyc

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Fred Davis, VP of Risk, speaks at PRMIA career planning event

Posted on November 4th, 2014 by Kristy Wright Skeehan

On November 3, JW Michaels’s Vice President of Risk & Front Office, Fred Davis, was a presenter at an event hosted by the Professional Risk Managers’ International Association (PRMIA) at Columbia University. Along with several other top risk recruitment professionals, Fred provided advice and strategy on making a career move and securing a job and discussed recent hiring trends in the area of Risk.

Check out this great photo of Fred presenting in Columbia’s Davis Auditorium: Read more on “Fred Davis, VP of Risk, speaks at PRMIA career planning event” »

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Are you CEO and CCO? : The Genuine Cost of Non-Compliance

Posted on November 3rd, 2014 by Elin Cherry

By Elin Cherry, Compliance Risk Concepts

compliance support neededOn September 18, 2014, the SEC issued a final Order against registered investment adviser – Strategic Capital Group (“SCG”).  The Order was a typical laundry list of wrong doings by SCG:

  • SCG engaged in hundreds of securities transactions with advisory clients on a principal basis through its affiliated registered broker – dealer, RP Capital, LLC (“RP Capital”), without providing prior written disclosure to, or obtaining consent from, the clients.
  • SCG Forms ADV Part 1A filed in 2012 and 2013, SCG incorrectly stated that neither it nor any related person engaged in principal transactions.
  • SCG failed to seek best execution in determining to route its clients’ fixed-income transactions to RP Capital.
  • SCG provided prospective clients advertisements that contained false and misleading claims and disclosures about the performance of SCG’s investment model. The advertisements were also publicly available on * SCG’s website for at least a month.
  • SCG’s Chief Executive Officer, and its Chief Compliance Officer failed to implement SCG’s compliance policies and procedures that were reasonably designed to prevent violations of the Advisers Act.

Read more on “Are you CEO and CCO? : The Genuine Cost of Non-Compliance” »

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End Of Year Compliance Requirements For Broker Dealers

Posted on October 17th, 2014 by Mitch Avnet

YOU BETTER CHECK YOURSELF – BEFORE YOU WRECK YOURSELF

End of Year Compliance Requirements For Broker Dealers

As the end of 2014 quickly approaches, this Compliance Bulletin serves as a notice and reminder to Broker Dealers regarding year-end responsibilities that must be executed in accordance with FINRA / SEC regulatory requirements. Reconciling your current “state of compliance” is the most effective way to ascertain your program’s status and ensure your firm continues to meet its ongoing regulatory requirements.

Compliance Bulletin 04-14 includes information on:

compliance bulletin

  • FINRA 3012 / 3130 Testing and Certification – Identifying Hot Topic Issues
  • SEC Rule 17a-5 – Annual Compliance Report
  • Independent Anti-Money Laundering (“AML”) Test / Review
  • Written Supervisory Procedures (“WSPs”) Review
  • Continuing Education and Branch Office Reviews
  • Annual Compliance Meeting, Registrations and Renewals

Fill out the form below to download your complimentary Compliance Bulletin titled You Better Check Yourself- Before You Wreck Yourself.

Click Only Once Please!  Processing may take up to 90 seconds

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Shift Happens | Corporate Culture For Compliance Hiring

Posted on September 11th, 2014 by Kristy Wright Skeehan

FundFire

Alternative asset managers are starting to take regulatory compliance more seriously, with a spike in hiring of compliance professionals this year. The shift comes even amid evidence that some managers, especially smaller ones, seem to take a dismissive view toward compliance – an attitude that experts say could cost them dearly in the long run.

Managers are responding by creating and filling new compliance positions, and there’s a lot of activity, says Jason Wachtel, founder and managing partner at JW Michaels & Co., a recruiting firm that specializes in compliance and legal hires. “Across the board, everybody’s hiring,” he says. “I’ve never seen it this busy before.” He expects that pace to continue for the rest of this year and into 2015 and beyond, he adds. 

Read more on “Shift Happens | Corporate Culture For Compliance Hiring” »

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JW Michaels ranked #792 on the 2014 Inc. 5000 list

Posted on August 21st, 2014 by Kristy Wright Skeehan

Ince. 5000On Wednesday, August 20, Inc. magazine released it’s annual list of the top fastest growing privately held companies. JW Michaels was ranked #792 on the list of 5,000. Inc. has been ranking private companies for 33 years, so this is quite an honor!

We would like to thank all our clients and candidates for making this achievement possible. We’re on track for even greater growth in the near future, and we look forward to making the Inc.‘s top 500 next year!

Check out the full list here: http://www.inc.com/inc5000/index.html

Read more on “JW Michaels ranked #792 on the 2014 Inc. 5000 list” »

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Co-founder Justin Mandel discusses the hiring of OFAC staff

Posted on August 13th, 2014 by Kristy Wright Skeehan

Justin MandelIn a recent Bloomberg article, JW Michaels co-founder Justin Mandel discusses the need for compliance executives to have an understanding of the intricacies of US sanctions laws. The need for such expertise has led banks and asset managers to look for compliance staff at the Treasury Department’s Office of Foreign Assets Control.

Mandel explains, “Having someone who has come directly from those regulatory bodies or otherwise understands the evolving rules and regulations gives firms a significant advantage. OFAC is one of those areas where it’s relevant.”

Read more on “Co-founder Justin Mandel discusses the hiring of OFAC staff” »

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The Hedge Fund Law Report: Jason Wachtel provides insight into hedge fund compensation

Posted on July 24th, 2014 by Kristy Wright Skeehan

In a recent interview with The Hedge Fund Law Report, JW Michaels’ Managing Partner Jason Wachtel discussed the compensation levels of hedge fund GCs and CCOs. He explained how compensation is usually determined, saying:

“The range in compensation is really determined by a few things: assets under management, performance of the fund and the personnel and the strategy of the fund.  If it’s a vanilla long/short equity fund with $1 billion under management, the performance is average, and the general counsel has only been with the fund for about a year, the compensation would be expected to be closer to the lower end of the spectrum.  When it comes to compensation, you want to look at when the person joined the firm, how the fund has performed and grown since that time and the person’s role within the firm. The more responsibilities and authority a person has within the firm, the more you can expect to layer on to the compensation.”

Read more on “The Hedge Fund Law Report: Jason Wachtel provides insight into hedge fund compensation” »

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Wall Street Journal: Hire Compliance Now, or Get Fined Later

Posted on July 11th, 2014 by Jason Wachtel

This article originally published in the Wall Street Journal : The Morning Risk Report

compliance quoteThe boom in the hiring of chief compliance officers and mid-level compliance staff is driven by not only an explosion of rules and regulations but by the fear of becoming the next poster child for wrongdoing, says an executive at a national recruitment firm specializing in hiring of compliance officers and legal personnel.

Rules and regulations such as the Volcker Rule and Dodd-Frank Act, which marks its fourth anniversary later this month, have served as a wake-up call to banks, hedge funds and private equity firms that it’s better to spend money on compliance than to get fined millions or billions of dollars, then suffer additional losses as investors pull money, said Jason Wachtel, managing partner of recruitment firm JW Michaels & Co. His firm has increased its staff from two people to 50 since the financial crisis hit in 2008. “If you’re a hedge fund or private equity firm with more than $500 million under management, you’re looking for really talented people for compliance and legal,” he said. “Most firms have hired their chief compliance officer in the last two years and now are further building out their compliance infrastructure. They need more hands on deck.”

Read more on “Wall Street Journal: Hire Compliance Now, or Get Fined Later” »

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