Trust Compliance Officer

Ascensus   •  

Chicago, IL

Industry: Accounting, Finance & Insurance

  •  

8 - 10 years

Posted 177 days ago

  by    Steven Fitzgerald

This job is no longer available.

Description

Provident Trust Group, an Ascensus company, is a self-directed administrator and passive custodian that has maintained steady growth since our establishment in 2008 while serving more than 29,000 clients and holding over $4.5 Billion assets under custody.

We have an exceptional position for a seasoned Trust Compliance leader to be responsible for ensuring that the Trust division adheres to all appropriate compliance procedures, laws and regulations and for training all appropriate associates on these matters. This position is responsible for designing, developing, and implementing programs, policies, procedures, and practices and is required to interface with regulators, auditors, and law enforcement agencies on all compliance related issues. In addition, this position is responsible for keeping the Trust division up to date on changes in compliance related laws and regulations as well as reviewing reports, curing deficiencies, monitoring compliance, and reporting to the Trust division Board of Directors on a periodic basis. Selected candidate will supervise a team of compliance professionals across multiple locations.

Job Functions, Essential Duties and Responsibilities

General

  • Act as Head of Compliance for the Trust division
  • Advise senior management on regulatory initiatives
  • Provide guidance and training to internal operating units regarding regulatory, transactional and documentation issues
  • Act as liaison with state regulatory entities, IRS and DOL
  • Support regulatory exams and audits
  • Participate in new product developments and business expansions, including client and vendor due diligence visits, and advise on the regulatory concerns and requirements.

Policies, Procedures & Controls

  • Draft and maintain policies and procedures to fulfill the applicable compliance requirements
  • Coordinate with internal operational groups to implement any needed compliance changes
  • Review marketing and communications

Compliance

  • Administer Bank Secrecy Act (BSA), Anti-Money Laundering (AML) & Office of Foreign Asset Control (OFAC), Financial Crimes Enforcement Network (FinCEN) 314a, Nevada Financial Institution Division, North Dakota Department of Financial Institutions, policies, procedures and manuals including tracking, training and transaction monitoring.
  • Administer security compliance policies, procedures and manuals including tracking and training
  • Administer IRS and DOL policies, procedures and manuals including tracking, training and transaction monitoring.
  • Support all requiredtaxreporting, withholding, filings and notices.
  • Investigate and respond to compliance related inquiries from management, staff, auditors, regulators and other law enforcement agencies
  • Collaborate with risk management on privacy, identity theft and fraud incidents

Other

  • Work closely with the corporate legal and risk management departments
  • Work closely with the corporate ERISA department
  • Support the Trust sales team in securing new business, new product and/or service development.

Common Responsibilities

  • Security - Responsible for protecting, securing, and proper handling of all confidential data held by Ascensus to ensure against unauthorized access, improper transmission, and/or unapproved disclosure of information that could result in harm to Ascensus or our clients.
  • I-Client - Our I-Client service philosophy and our Core Values of People Matter, Quality First and Integrity Always? should be visible in your actions on a day to day basis showing your support of our organizational culture.
  • Other duties as assigned

Requirements:

  • Bachelors degree in Accounting, Business Administration, Finance, Mathematics; advanced degree such as J.D. preferred
  • 7+ years compliance experience Financial Services and Retirement industry preferred
  • Advanced industry designations preferred - CISP, CEBS, CPC
  • Experience in developing and delivering solutions that meets the needs of the organization
  • Familiarity MS-Office software applications, including Excel, PowerPoint, Word, Access & Visio
  • Supervisory or Management experiencepreferred
  • Ability to work well under pressure with multiple priorities and deadlines.

Skills

  • Communication Skills ? Excellent written and oral communication skills. Communication is well thought-out and easy to understand. Presents ideas persuasively. Communicates on a timely basis the information that other team members may need to perform tasks. Keeps confidential information confidential. 
  • Problem Solving- Gathers and effectively analyzes multiple data sources to determine root cause of problems. Makes sound decisions in the face of ambiguity and uncertainty. Generates alternative solutions and seeks input from others. Takes responsibility and stays focused on problems until an effective solution can be found.
  • Detail Oriented vs. Big Picture - Understands conceptually the impact of decisions across the business and communicates implications to team leadership where appropriate.
  • Conflict Resolution ? Does not shy away from conflicts, reads situations quickly and is good at focused listening. Can come to conclusion on tough situations and settle disputes equitably. Able to find common ground and get cooperation with minimal disruption.
  • Training/Mentoring ? Serves as a model for others in demonstrating high levels of productivity and quality. Demonstrates integrity through consistency between words and actions. Respects and values people from diverse backgrounds. Considers and responds to the needs, feelings, and capabilities of others. 
  • Risk Taking/Decision Making ? Gathers relevant information to make sound business decisions. Holds others accountable for making principled decisions. Is honest and truthful. Aligns efforts to the team's objectives. Works around typical problems and obstacles to get results.
  • Planning/Organizing ? Comes prepared to all meetings. Is effective at organizing and leading. Work is accurate, thorough and timely. Produces results that consistently meet internal and/or external customer standards. 
  • Time Management/Prioritization ? Manages own time well in order to complete assigned tasks on time and with high quality. Gathers sufficient information from available resources before making decisions. Able to adapt when plans are altered. Ability to work well under pressure with multiple priorities and deadlines.
  • Work Style - Works well independently or in teams. Solicits and accepts feedback from others. Works constructively with others regardless of differences in style or interests. Is able to communicate their expertise for the benefit of the larger work team. 
  • Initiative/Work Ethic ? Regularly makes concrete suggestions to improve results. Gathers ideas from others to work out better solutions. Identifies and acts upon opportunities to expand one's knowledge and skill base as well as others.

Knowledge

  • Technical Knowledge ? In depth knowledge of banking/trust laws and regulations. Functional IRA and ERISA knowledge and a working understanding of all aspects of the organization.