Private Fund Compliance Manager

Overview

NISA Investment Advisors, LLC (NISA) partners with world-leading organizations to design, develop, and manage highly customized, risk-controlled investment strategies across fixed income, equities, and derivatives. With $469 billion assets under management ($284 billion in physical assets and $186 billion in derivatives notional value), NISA actively manages risk for institutional investors, providing clarity to complicated challenges and stability in ever-evolving markets. At NISA, we foster a culture that supports both personal and professional growth, providing opportunities to learn from experienced professionals while contributing meaningful work from the outset. We seek candidates who demonstrate strong analytical skills, intellectual curiosity, and a collaborative mindset to join our growing teams.

Responsibilities

This role serves as the Compliance lead for NISA's private fund platform, partnering across the organization to expand our established compliance framework into a growing business area. The manager is responsible for designing, implementing, and overseeing compliance oversight for private fund vehicles, integrating requirements across the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), National Futures Association (NFA), and offshore regulatory regimes throughout the fund lifecycle. Responsibilities span investor onboarding, marketing and distribution review, regulatory filings, compliance testing, governance, and audit support, ensuring a comprehensive and scalable compliance program for private fund operations. This position offers a unique opportunity to help shape the future of private fund compliance at NISA. While leading this specialized workstream, the successful candidate will be supported by the resources, expertise, and infrastructure of NISA's firm-wide Compliance program.

Regulatory filings and reporting

• Own the private fund regulatory filing calendar end to end, working with the fund administrator(s) in the preparation and submission of accurate, timely filings across the SEC, CFTC and NFA, and state regimes, and maintaining the related procedures
• Form ADV: in addition to general Form ADV support, maintain private fund reporting in Section 7.B of Schedule D, including private fund identifiers (PFIDs), and prepare annual and other-than-annual amendments as fund facts change
• Form PF: prepare quarterly and annual filings, including the event-based current reporting applicable to large hedge fund advisers, coordinating data with the fund administrator
• Form D and blue sky: prepare initial and annual Form D amendments and related state notice (blue sky) filings
• CFTC and NFA: prepare Form CPO-PQR and Form CTA-PR through NFA EasyFile, assist in the completion of the NFA Self-Examination Questionnaire and annual membership and registration renewals, and maintain Regulation 4.7 claims and supporting records
• Beneficial ownership and position reporting: support Forms 13F and 13H, and CFTC large trader and ownership-and-control reporting (for example, Form 40) where fund positions aggregate into firm-level filings
• Coordinate Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) returns and other periodic filings, such as Treasury International Capital (TIC) reports, as applicable
• Maintain filing workpapers, supporting documentation and audit trails, and reconcile filed data with fund administrator and accounting records

CFTC and NFA program

• Maintain CFTC Regulation 4.7 exemption eligibility and related recordkeeping, and monitor investor eligibility at onboarding
• Assist in reviewing fund promotional materials under NFA Compliance Rule 2-29, including required DISCLAIMERS and internal review routing
• Support NFA self-examinations, regulatory inquiries and related correspondence

SEC and Advisers Act program

• Assist in reviewing fund pitch materials, prospect letters and investor communications under the SEC Marketing Rule, including performance presentation and fair-and-balanced requirements
• Support custody rule compliance for pooled vehicles, including annual delivery of audited financial statements

Fund governance and investor onboarding

• Support governance of master-feeder and onshore-offshore structures, including governing-body materials and service provider oversight
• Oversee investor eligibility and onboarding across a range of investor types, including large institutional investors and state and Employee Retirement Income Security Act (ERISA)-covered plans
• Administer subscription and anti-money laundering (AML) onboarding, side letter compliance and most-favored-nation tracking

Offshore compliance

• Coordinate Cayman Islands AML and sanctions compliance, regulatory filings, and FATCA and CRS obligations with offshore counsel and administrators

Testing, monitoring and surveillance

• Execute private fund compliance testing, including independent recalculation of management and performance fees, expense allocation, and trade allocation
• Support valuation controls and material nonpublic information (MNPI) controls, including information barriers

Service provider and program support

• Manage compliance touchpoints with fund administrators, auditors, prime brokers and offshore service providers
• Contribute the private fund sections of the annual compliance program review, quarterly compliance updates and risk assessment, and maintain related policies and procedures

Qualifications

• Three or more years of investment adviser or private fund compliance experience, including at a private fund adviser and hands-on responsibility for regulatory filings
• Working knowledge of the Investment Advisers Act of 1940, the Commodity Exchange Act and CFTC Part 4 regulations, and NFA rules
• Experience with the SEC Marketing Rule and performance presentation review
• Strong drafting, testing and documentation skills, with the ability to work directly with fund administrators and auditors
• Experience with Cayman Islands fund structures and the offshore AML, regulatory, and FATCA and CRS regime
• Experience onboarding a variety of investor types, including large institutional investors and state and ERISA-covered plans
• Familiarity with master-feeder and onshore-offshore fund complexes and side letters

NISA’s culture encourages collaboration and innovation. We seek self-motivated, intellectually curious individuals willing to push themselves and others in an environment that celebrates fresh thinking. We equip employees with the resources needed to excel and we encourage personal development. NISA is dedicated to internally cultivating and rewarding talent. Employees at NISA are provided with a wide range of benefits, including health, dental, vision and life insurance options, paid time off, a competitive retirement plan, onsite cafeteria, fitness center, a health and wellness program and an educational assistance program.

NISA is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.