James F. Volk
About James F. Volk
James F. Volk is Chief Compliance Officer of FS Credit Opportunities Corp. (FSCO), serving since 2015. He is age 62 (as of the 2025 proxy). He previously served as chief compliance officer, chief accounting officer and head of traditional fund operations at SEI’s Investment Manager Services; assistant chief accountant at the SEC’s Division of Investment Management; and senior manager at PricewaterhouseCoopers. He holds a B.S. in Accounting from the University of Delaware and is an inactive CPA . FSCO delivered a 14.25% net return in 2024 and has returned 7.59% annually since the FS Global Credit team assumed management in January 2018, a relevant indicator of fund-level performance during his tenure overseeing compliance .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| SEI Investment Manager Services | Chief Compliance Officer; Chief Accounting Officer; Head of Traditional Fund Operations | Not disclosed | Senior control and operations roles overseeing compliance and fund operations |
| U.S. Securities and Exchange Commission (Division of Investment Management) | Assistant Chief Accountant | Not disclosed | Senior accounting policy/oversight function for investment companies |
| PricewaterhouseCoopers | Senior Manager | Not disclosed | Audit leadership background relevant to controls and reporting |
External Roles
- Not disclosed in the 2024 or 2025 FSCO proxy statements or FSCO shareholder reports for Mr. Volk .
Fixed Compensation
FSCO is an externally managed closed-end fund; executive officers (including the CCO) are employees of the Adviser or its affiliates and do not receive direct compensation from FSCO. The Adviser is compensated via a management fee (1.35% of average daily gross assets since Nov 14, 2022) and a performance-based incentive fee; FSCO reimburses the Adviser for allocable expenses .
| Component | FSCO-paid? | Detail |
|---|---|---|
| Base salary | No | Executive officers are paid by the Adviser; no FSCO salary is disclosed |
| Target/actual bonus | No | Not paid or disclosed by FSCO; executives are employees of the Adviser |
| Equity awards (RSUs/PSUs/options) | No | No FSCO executive equity program disclosed |
| Perquisites/Pension/Deferred comp | No | Not paid by FSCO; not disclosed at the company level |
Performance Compensation
Because executives are paid by the Adviser, FSCO does not disclose executive incentive metrics or payouts for Mr. Volk.
| Incentive type | Metric(s) | Weight | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Company-level executive incentive (CCO) | Not applicable at FSCO | — | — | — | — | — |
| Notes | FSCO discloses no executive pay program; compensation resides at the Adviser. Adviser earns management and performance-based incentive fees from FSCO (not specific to Mr. Volk) . |
Equity Ownership & Alignment
| Item | 2024 (as of May 1, 2024) | 2025 (as of May 1, 2025) |
|---|---|---|
| Common shares beneficially owned – James F. Volk | — (table shows “—”) | — (table shows “—”) |
| Percent of shares outstanding | “*” = less than 1% (company-wide footnote) | “*” = less than 1% (company-wide footnote) |
| Shares outstanding (reference) | 198,355,867 | 198,355,867 |
| Options exercisable within 60 days | None; “There are no Shares subject to options that are currently exercisable or exercisable within 60 days of May 1, 2024.” | None; “There are no Shares subject to options that are currently exercisable or exercisable within 60 days of May 1, 2025.” |
| Hedging/monetization policy | Officers/directors prohibited from hedging or monetization transactions without prior approval of the Company’s Chief Compliance Officer | |
| Pledging policy | Not specifically disclosed in proxy; no pledging noted for Mr. Volk | |
| Ownership guidelines (officers) | Not disclosed for officers; director compensation only is presented |
Governance/controls context: The Board receives quarterly and annual reports from the Chief Compliance Officer on compliance policy operation, material changes, recommendations, and material compliance matters; the CCO also meets in executive session with independent directors at least annually .
Employment Terms
| Term | Disclosure |
|---|---|
| Start date / Tenure | Chief Compliance Officer since 2015 |
| Employer | Employee of Adviser or its affiliates (not FSCO) |
| Contract term / renewal | Not disclosed for Mr. Volk at FSCO |
| Severance / Change-in-control | Not disclosed for Mr. Volk at FSCO; FSCO discloses Adviser fee terms and indemnification provisions, not individual executive severance |
| Non-compete / Non-solicit / Garden leave | Not disclosed for Mr. Volk at FSCO |
| Clawback | Not disclosed for Mr. Volk at FSCO; FSCO discloses Code of Business Conduct and hedging/insider trading policies |
Additional Governance and Compliance Signals
- Board risk oversight includes: review/approval of compliance policies; investment valuation oversight via Audit Committee; periodic review of fidelity bond, D&O and E&O insurance; supervision of auditor; and direct oversight of the CCO’s program and reporting cadence .
- Section 16(a) reporting: For FY2024, FSCO reports one delinquent Form 4 (a director); otherwise filings were timely—no delinquencies indicated for executive officers including Mr. Volk .
Investment Implications
- Alignment: Mr. Volk holds no reported FSCO shares and there are no options outstanding at the company level, reducing insider selling pressure but limiting direct equity alignment. Hedging/monetization requires prior CCO approval and insider-trading safeguards apply, which supports governance discipline .
- Pay-for-performance: Executive compensation resides at the Adviser and is not disclosed at FSCO, limiting transparency into Mr. Volk’s incentive metrics. Adviser economics are tied to a management fee and incentive fee at the fund level, not to officer-level KPIs at FSCO, creating a structural opacity for investors analyzing individual executive incentives .
- Retention/continuity: A decade-long tenure (CCO since 2015) with prior senior regulatory and audit experience (SEC/PwC) suggests low execution risk in compliance leadership; Board oversight formalizes the CCO’s reporting and review cadence .
- Trading signals: With no disclosed share ownership and no options outstanding, traditional insider-buy/sell signals tied to Mr. Volk are absent at FSCO. Monitoring Form 4s across the FS Investments platform may still be informative, but FSCO-specific insider trading catalysts from Mr. Volk appear limited based on current disclosures .
- Performance context: FSCO’s 2024 net return of 14.25% and 7.59% annualized since 2018 provide a favorable backdrop for compliance stewardship but do not translate into disclosed individual incentive outcomes for Mr. Volk at FSCO .