Parnassus Investments is the largest pure-play responsible investment company in the United States, currently managing over $51 billion in AUM, as of March 31, 2024. We seek to build wealth responsibly for long-term investors by investing in businesses that offer products or services that are increasingly relevant to customers, have sustainable competitive advantages relativeto their peers and are led by quality management teams that adhere to ethical business practices. We have incorporated rigorous sustainability-related criteria into our investment decisions since 1984. Our office is based in San Francisco and we currently employ approximately 78 people.
Our firm is a multi-year winner of the Pensions & Investments Best Places to Work in Money Management award. Our team members benefit from a supportive, collaborative culture that emphasizes quality, teamwork, and continuous learning.
Manager, Compliance
Overview
Parnassus Investments is hiring a manager on their compliance team to report to our chief compliance officer. This position is responsible for managing the Charles River Compliance system for portfolio compliance, and other duties as assigned.Other duties may include administration of the ComplySci system used for certifications, personal trading compliance and reporting, conducting compliance reviews of statements and other documents, gathering data for various reports and projects, and other tasks as assigned. This person works closely with key stakeholders across the organization including the sales and marketing, investment, technology, and operations teams as well as third party vendors.
This position is based on our San Francisco, California office and is a hybrid 3 days in the office. Eligible candidates must be able to report to this office on Tuesday, Wednesday and Thursday each week.
Summary of Key Responsibilities
To perform this job successfully, an individual must be able to perform the following satisfactorily; other duties may be assigned.
- Manage the administration of the Charles River Compliance system to monitor portfolio compliance for mutual funds, separately managed accounts and other products. Set up rules for new accounts and manage compliance with the rules for accounts. Handle notifications and follow-up/escalation for out-of-compliance alerts and warnings.
- Produce month-end reports for each portfolio from the Charles River Compliance system for portfolio managers and CCO to review and sign. Provide the most current set of reports for mutual fund board meetings.
- Review and update securities on Charles River to ensure certain securities were qualified at time of last purchase.
- Maintain company's approved list and restricted list for client accounts and personal trading.
- Manage day to day administration of ComplySci system to ensure Code of Ethics compliance, which includes personal trading by employees and other access persons, various periodic certifications by employees and other documentation, including the gift and entertainment reporting and compliance violation log.
- Perform monthly and quarterly ESG screening for SMA clients using MSCI and Sustainalytics
- Review employees' 401(k) plan accounts and other employee accounts to monitor trading in Parnassus Funds to ensure there is no frequent trading, per the Code of Ethics.
- Analyze and produce monthly soft dollar trading reports for funds and separate accounts and provide the most current report for each mutual fund board meeting.
- Assist with compiling data for annual prospectus and statement of additional information update.
- Assist with compiling data for annual Form ADV update, as well as any amendments.
- Assist with new applications and annual renewals for fidelity bond, D&O/E&O and other insurance policies.
- Assist CCO in monitoring employee trading in Parnassus Funds to ensure there is no frequent trading, per the Code of Ethics.
- Assist with preparing affiliated transactions and persons report for mutual fund board meetings and annual trustee and officer questionaries.
- Provide assistance as directed for responses to regulatory exams, mock exams, proxies and other special projects.
- Lead and participate in projects requiring interaction with other staff and departments
- Manage multiple tasks and projects simultaneously
- Assist with projects and initiatives involving technology and data to develop, enhance, and automate compliance processes and test systems. Serve as resource to management for technology-related projects. Utilize available technology to enhance the Compliance Department and aid in efficiency.
- Present complex information in a professional and easy to understand manner through written materials or presentations for a wide variety of audiences.
- Keep abreast of changing regulatory requirements.
- Implements and supports the department’s strategic direction, vision & mission in alignment with the Company’s strategy.
- Responsible for visibly supporting the Company’s business initiatives and the initiatives of other departments.
- Other duties as assigned.
Experience, Skills, and Knowledge:
The requirements listed below are representative of the knowledge, skill, and/or ability required to competently perform the job duties.
- 5+ Years of experience with Compliance with emphasis in use of Charles River Compliance
- Experience with and understanding of the equity market and investment products including mutual funds.
- Ability to prioritize, collaborate and problem-solve effectively to meet project deadlines
- excellent analytical, organizational, written and communication skills.
- Proficiency with the latest computer technology, particularly Microsoft Office and related applications such as Teams.
Education:
- Bachelor’s degree in business or related field
- Advanced degree is a plus
- Compliance certifications are a plus
Travel:
Being Part of the Parnassus Team Includes
Competitive compensation commensurate with experience and skills.
- An annual bonus based on several factors including both profitability and individual performance.
- 100% coverage of medical, dental and vision premiums for you and your family with no waiting period.
- 2:1 charitable contribution matching to non-profit organizations.
- This position is based in our San Francisco office with a hybrid model of 3 days/week in-office and 2 days/week remote. We are in San Francisco's Financial District near BART, Muni, ferries and cable cars and we provide a generous commuter subsidy.
We will only consider applicants who are legally authorized to work in the United States; we do not sponsor work- related visas.
The anticipated annual salary range for this position is $125k-$150k. The listed salary range denotes only the pay range of the base salary and does not include discretionary bonus compensation, which may make up an important portion of the total remuneration. Parnassus Investments encourages all applicants to consider the full value of the competitive benefits offered, including coverage of 100% of all healthcare premiums for employees and their families. The listed pay range reflects the base salary Parnassus Investments reasonably expects to pay for this position and is not a reflection of the highest and lowest base salary of any current employee. Actual base salary will be based on factors such as the candidate’s prior relevant experience, education, skills, and knowledge.
Parnassus Investments is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, age, citizenship, disability, veteran status, gender identity, sexual orientation, genetic information, or any other characteristic protected by federal, state, or local law. We comply with the San Francisco Fair Chance Ordinance and will consider all applicants in accordance with this Ordinance.
Please see the Careers page of our website to view the privacy notice to job applicants to comply with the California Consumer Privacy Act (CCPA).
