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Compliance Officer

New York City District Council of Carpenters Benefit Funds

in New York NY

Logo for New York City District Council of Carpenters Benefit Funds

Request for Submission of Letter of Intent to Bid to Provide

Investigative/Compliance Services to the New York City District Council of Carpenters Benefit Funds

The Board of Trustees of the New York City District Council of Carpenters Pension, Welfare, Annuity, and Apprenticeship, Journeyman Retraining, Educational and Industry Funds (collectively, the “Funds”) is seeking to engage a person or firm who or which specializes in providing investigative and compliance services to sophisticated and complex clients. The Funds have had a self-imposed compliance program since 2012.

Qualified persons or firms are invited to submit a letter of intent to bid by May 17, 2024. The letter of intent should be submitted by email to resumes@kmm.com. The next steps for selected candidates will be submission of a written proposal (with detailed information on credentials, experience, track record, staffing, fee structure, and references) and in-person interviews. A description of the Funds is set forth below. Additional information regarding the Funds is available on the Funds’ website at www.nyccbf.org.    

The primary responsibilities of the selected person or firm will be to:

  • Have direct responsibility and oversight for the Funds’ Compliance and Ethics Program (“CEP”), including:
    • providing one initial and then subsequent periodic assessments of the Funds’ CEP;
    • developing new or supplemental policies and protocols to enhance the Funds’ CEP;
    • making recommendations to the Board of Trustees on how to ensure that the CEP is appropriately tailored to the needs of the Funds;
    • investigating allegations pertaining to violations of the CEP;
    • overseeing the Funds’ complaint lines;
    • serving as an advisor for employees and the Board of Trustees regarding the CEP; and
    • conducting periodic training in compliance and ethics for all employees and Trustees;
    • Assist in identifying, assessing and mitigating risks and threats to the Funds; and
    • Providing ad hoc assistance or leadership on compliance projects to be determined.  

The successful candidate will have the following experience and skills:

  • Compliance Expertise:
    • Proven track record in designing, implementing, and managing effective compliance programs for complex and significant  organizations.
    • Ability to assess risks, develop policies, and monitor adherence.
    • Strong analytical skills to proactively identify potential compliance gaps or violations and appropriate corrections and resolutions.
    • While prior experience with comparable organizations is a plus but not a requirement, the successful candidate must be able to acquire an understanding of the Funds’ operations and regulatory environment to ensure optimal oversight of the CEP and an appreciation of the environment in which the Funds operate.   
  • Ethical Integrity:
    • Dedication and commitment to ethical conduct and promoting a culture of compliance.
    • Avoidance of conflicts of interest.
    • Diligence in protecting confidences to the maximum extent consistent with an effective compliance program.
    • Sensitivity to budgetary concerns.
  • Education and Certifications:
    • A bachelor’s degree in a relevant field  is typically required.
    • Relevant professional certifications.
  • Communication Skills:
    • Superb written and verbal communication skills.
    • Excellent interpersonal skills in handling sensitive issues and successfully navigating conflict and differences in opinion.
  • Collaboration and Leadership:
    • Ability to work collaboratively with the Trustees, the Executive Director and staff, and the Funds’ professionals.
    • Leadership skills to guide compliance efforts and influence decision-making.

About the Funds

The Funds collectively employ approximately 130 employees who are responsible for administering benefits for members of the New York City District Council of Carpenters (the “Union”), monitoring the contribution obligations of approximately 1,100 Contributing Employers to the Funds, and overseeing the Funds’ service providers, among other responsibilities. The Funds’ participants work in the construction industry in New York City. The Funds’ combined value exceeded $8.8 billion as of June 30, 2023. The Funds are governed by the Employee Retirement Income Security Act of 1974 and the Labor Management Relations Act of 1947. Note that the Funds are separate and distinct legal entities from both the Union and the Contributing Employers.   

The Funds are based at 395 Hudson Street, New York, NY in a building that is jointly owned by the Pension Fund and the Apprenticeship Fund.

The Funds are overseen and administered by a joint Board of Trustees consisting of six union-designated and six employer-designated trustees, with the assistance of the Executive Director, the staff, and plan professionals. The Executive Director reports directly to the Board of Trustees, manages the Funds Office, and oversees the day-to-day activities of the Funds.

The Welfare Fund was established in 1950 and it operates a self-funded group health plan. It provides medical, hospital, dental, vision, prescription, life insurance, short-term disability, paid family leave, accidental death and dismemberment, scholarship and vacation benefits. The Fund has approximately 12,000 active participants and 7,000 retired participants and beneficiaries receiving benefits. It currently has assets of approximately $668 million.

In 1955, the Pension Fund, a defined benefit retirement plan, was established to provide financial security for NYCDCC retirees. Today, the Fund has approximately $4.6 billion in assets. The Fund currently has approximately 11,000 active participants, 12,000 retired or separated participants receiving monthly benefits, and 4,500 retired or separated participants entitled to future benefits. 

In 1966, the Annuity Fund, a defined contribution retirement plan, was established to provide participants with additional economic security at retirement. Participants make their own investment decisions regarding their accounts. Today, the Fund has approximately $3.3 billion in assets and is managed by Empower.

The Apprenticeship, Journeyman Retraining, Educational and Industry Fund was created in 1966 to provide education and job training programs to apprentices and journeypersons. The Apprenticeship Fund operates the New York City District Council of Carpenters Training Center, also located at 395 Hudson Street in New York City, which provides the training programs to support workers and also the needs of the industry at large, helping to meet the challenges of emerging trends and address issues in the construction industry. The Fund currently trains approximately 817 carpenter apprentices and additional journey-level carpenters per year. The Fund has approximately $58 million in assets.

How to Apply

Qualified persons or firms are invited to submit a letter of intent to bid by May 17, 2024. The letter of intent should be submitted by email to resumes@kmm.com.


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New York City District Council of Carpenters Benefit Funds has trusted BenefitsLink to help reach qualified candidates for this opening.

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