Experienced risk and compliance professional seeks position with an organization that can benefit from extensive experience in building or enhancing cost effective compliance or risk management programs complimented by solid business acumen and a proven ability to deliver operational efficiency.
James has over 15 years of experience in financial operations, risk management and regulatory compliance. He started his career at Fidelity in 1993 as a director with National Financial from Merrill Lynch , a Fidelity subsidiary responsible for correspondent clearing for introducing broker-dealers. James created a team responsible the conversion of new clients onto the Fidelity clearing platform and advised senior management on front, middle, and back office supervision and risk management.
James was promoted to senior vice president, risk and compliance and served on the operating committee reporting to the president of Fidelity Investments Institutional Services Inc, ("FIIS") in 1997 with responsibility for managing risk and compliance for institutional sales throughout North and South America, including the Caribbean. FIIS is the distributor of Adviser sold Retail and Institutional Funds, Insurance Sub-Accounts, Off-Shore Funds, and Institutional ERISA plans. He oversaw Sales & Advertising, Contract Administration, Privacy, Y2K conversion, Code of Ethics, Gifts & Entertainment, FINRA compliance, registered rep awareness, and information security risk.
In 2004, Mr. Bone joined Fidelity Management & Research Corporation as senior vice president reporting to the Chief Compliance and Chief Risk Officer of Fidelity Management & Research to help create the first Enterprise Risk Management function responsible for advising senior divisional presidents on strategic business plans, new product launches, and implementing internal risk and compliance functions.
James also led efforts implementing various compliance programs enterprise-wide including, Sarbanes-Oxley, Privacy, 38a-1 and 206(4)-7, and Anti-Money Laundering while serving on the Senior Compliance Leadership Board and the Senior Risk Leaders Committee.
In 2006, James joined Fidelity Pricing & Cash Management Services ("FPCMS") reporting to the president and serving on the management committee as senior vice president, chief compliance and chief risk officer responsible for investment operations for all Fidelity retail funds, institutional funds, hedge funds, pool accounts, sub-advised accounts, and off-shore funds. His innovations at FPCMS included the first Loss Data Collection database at Fidelity, significant compliance cost savings and analytical executive reporting and metrics.
Apr 1993 - Dec 2008
SVP, Chief Compliance Officer & Chief Risk Officer
Fidelity Pricing & Cash Management Services, Boston, MA
A leading global financial services firm with assets of $1.4 trillion in brokerage, asset management, institutional, and international operations
Senior Vice President, Chief Compliance/Risk Officer2006 – 2009
·Reported to Divisional President and served on the senior management committee responsible for investment operations for Fund Accounting, Custody- Recon and Corporate Actions, Capital Stock/Transfer Agents, Fund Administration & Tax Reporting for Fidelity Retail, Institutional, International, Sub-Advised and Hedge Funds
·Managed the operational risk and compliance department activities across the technology and operations portfolio in Massachusetts, New Hampshire, Texas, and India.
Enterprise Risk Services, Boston, MA
Developed risk assessment plans for divisional leadership across North America and Canada seeking assurance on business plan implementation and pro-active remedies including staffing, internal controls, resources, and enterprise support
Senior Vice President, Risk Advisory Practices2004 – 2006
·Advised Divisional leadership on product launches, strategic business plans, development of risk and compliance functions, and mitigation plans
Fidelity Investments Institutional Services, Inc., Smithfield, RI
A Fidelity affiliate with $270 billion under administration, FIIS, serves the institutional wholesale adviser marketplace for Fidelity Advisor funds, Insurance broker-dealers, and Institutional Off-shore funds
Senior Vice President, Risk and Compliance1997 – 2004
·Created risk and compliance team responsible for Sales & Advertising, contract compliance, new business development, retail, wholesale, and institutional sales distribution, hot money compliance, business continuity, anti-money laundering, OFAC, Privacy, and ERISA plan compliance
National Financial Services, Inc., Boston, MA
A Fidelity affiliate with $350 billion under administration, NFS, services the correspondent clearing marketplace for introducing brokers, hedge funds, and registered investment advisers
Director, Correspondent Clearing1993 - 1997
·Created group to support, train, and develop correspondent clearing relationships and enhance sales through clearing platform