Joseph McDermott is a certified compliance professional with over 20 years of compliance, risk, operational and managerial experience working with investment advisers, mutual funds, private funds, securitized funds and broker-dealers. Mr. McDermott has served as Chief Compliance Officer (“CCO”) for registered investment advisers, investment companies and broker-dealers. He has extensive experience working with regulatory authorities, including the SEC, DOL, OSC, FINRA and the NFA and is a former securities regulator. He has broad experience managing examinations in addition to conducting operational, due diligence and risk management assessments. Mr. McDermott has rejoined Alaric where he was a Director from 2007 to 2011.
He most recently served as the CCO for the THL Credit Senior Loan Fund, a NYSE listed closed-end fund, and the Compliance Manager for its investment adviser, THL Credit Advisors LLC – a $16 billion alternative credit adviser. Prior to his employment at THL Credit, he served as CCO for Aviva Investors Americas, LLC and Aviva Investors Canada, Inc. where he was responsible for all North American compliance activities for the investment advisory affiliates of Aviva plc, one of the largest insurance companies in the United Kingdom. Mr. McDermott has served either as the CCO or in a senior compliance role for a number of investment advisers in the Chicago area, including Keeley Asset Management, First Trust Advisors, Driehaus Capital Management and Artisan Partners LP.
From 1996 to 2000, Mr. McDermott was a Field Supervisor in the Chicago office of the NASD (now known as FINRA) where he was responsible for conducting financial and operational audits of registered broker-dealers. Before joining the NASD, he was an investigator with the Chicago Board of Trade’s Office of Investigations and Audits.
Mr. McDermott currently serves on the Board of Directors of the National Society of Compliance Professionals (“NSCP”) and is a frequent speaker at compliance conferences and seminars. He is a contributing author to Modern Compliance: Best Practices for Securities & Finance (Wolters Kluwer September 2015).
Mr. McDermott holds both a Master of Business Administration (MBA) and a Bachelor of Arts (BA) degree. He has held the following licenses Series 3, 4, 7, 24, 27, 31, 53, 55, 65, and 66. Mr. McDermott has a number of accreditations, including the Financial Risk Manager (FRM) designation from the Global Association of Risk Professionals, the Certified Securities Compliance Professional (CSCP) designation from the NSCP, and the Financial Modelling & Valuation Analyst (FMVA) designation from the Corporate Finance Institute. He previously held the Certified Anti-Money Laundering Specialist designation from the Association of Certified Anti-Money Laundering Specialists and the Certified Financial Services Auditor designation from the Institute of Internal Auditors.
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