Branch Compliance Manager Career Overview: A branch compliance manager is the subordinate of a branch manager who is delegated responsibility for legal and regulatory matters.
Background: Branch compliance managers are the on-site representatives of the firm’s compliance department, and typically have similar training. In firms with a strong compliance function, the branch compliance manager will have a solid-line (primary) reporting relationship to the central compliance department, and a dotted-line (secondary) one to the branch manager. That is, the branch compliance manager’s principal allegiance is to the compliance function rather than to the sales function.
Responsibilities: A branch compliance manager has responsibility for insuring that financial advisors, sales assistants and other branch office staff adhere to applicable laws, regulations and firm policies regarding the discharge of their duties. Suspected violations are supposed to be referred to the proper channels within the firm for further investigation and, if necessary, disciplinary action.
Compensation: Branch compliance managers are paid salary and bonus. To avoid conflicts of interest, their bonuses should not be related to branch results.
