Our client, an asset management firm, is seeking a subject matter expert in Soft Dollar Administration to conduct audit and optimization of its soft dollar/CSA program. The SME will conduct an end-to-end review of how soft dollars are accrued, banked, and spent, validate compliance with applicable regulations (SEC Section 28(e) safe harbor; MiFID II/RPA if applicable), and design practical controls, reporting, and processes that improve governance and utilization.
This is a remote, W2 hourly interim position with Korn Ferry's client and will require working East Coast hours.
Responsibilities:
- Audit & Assessment: Review policies, broker relationships, CSA/soft dollar balances, aged/at-risk amounts, research spend categories, vendor invoices, and approval workflows.
- Data Reconciliation: Tie out trade-level commissions to broker/CSA statements; reconcile inflows/outflows, balances, and research spend to budgets and (as needed) GL/financial records.
- Compliance & Controls: Validate 28(e) eligibility, documentation, and recordkeeping; assess broker vote processes, entitlements, segregation of duties, and due diligence for third party research providers.
- Reporting & Analytics: Build dashboards for balances by broker, utilization rate, inflows/outflows, aging, and exceptions; establish KPIs and cadence for management/CCO reporting.
- Remediation & Enablement: Deliver gap analysis and a prioritized remediation plan; draft/update policy, SOPs, RACI, and training for Trading, PMs, Compliance, and Finance.
- Stakeholder Management: Partner with Trading/Desk Ops, Compliance/Legal, Finance, PMs, and external auditors; prepare materials for governance forums.
Qualifications:
- 7-10+ years buy-side experience owning or auditing soft dollar/CSA programs (asset manager/hedge fund) or relevant consulting/audit.
- Deep knowledge of SEC 28(e) safe harbor and U.S. practices; familiarity with MiFID II research unbundling / RPAs for global programs a plus.
- Proven ability to lead audits, reconcile complex broker and commission data, and stand up durable controls and reporting.
- Advanced Excel; comfortable with Power BI/Tableau and OMS/EMS/commission tools (e.g., Bloomberg, Eze, Charles River, Flex; Commcise/Castine or similar).
- Clear communicator who can translate regulatory requirements into practical workflows.
Compensation: $100/hr. - $150/hr.
About Korn Ferry
Korn Ferry unleashes potential in people, teams, and organizations. We work with our clients to design optimal organization structures, roles, and responsibilities. We help them hire the right people and advise them on how to reward and motivate their workforce while developing professionals as they navigate and advance their careers. To learn more, please visit Korn Ferry at www.Kornferry.com
