The Trust Compliance Manager position is 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 leads a team of compliance professionals across multiple locations and is responsible for their career development. 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. This includes but is not limited to servings as a primary point of contact for regulatory exams and other legal inquiries. The Trust Compliance Manager is responsible for keeping the Trust Division up to date on changes in compliance related laws and regulations as well as reviewing reports, executing on recommended actions, monitoring compliance, and reporting to the Trust division Board of directors on a periodic basis.
Section 2: Job Functions, Essential Duties and Responsibilities
General
Act as Head of Compliance for the Trust Division, consisting of two state-chartered trust companies that provide trust and custodial services to 401(k)s, IRAs, and other retirement savings plans and accounts.
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 and federal regulatory entities, including the State of Nevada, the State of North Dakota, the U.S. Securities and Exchange Commission ("SEC"), the U.S. Internal Revenue Service (IRS"), and the U.S. Department of Labor ("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.
Responsible for protecting, securing, and proper handling of all confidential data held by the Trust Division to ensure against unauthorized access, improper transmission, and/or unapproved disclosure of information that could result in harm to both the company and its clients.
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 for our organizational culture.
Travel to other Ascensus offices, conferences and other events as needed 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 requirements
Review marketing and communications
Compliance
Administer policies, and procedures manuals, as they may relate to activity performed within the Trust Division so as to ensure compliance with (i) the Bank Secrecy Act; (ii) Anti-money Laundering and Office of Foreign Asset Control; (iii) Financial Crimes Enforcement Network; (iv) Section 314(a) of the USA PATRIOT ACT (implemented by 31 CFR 1010.520; (v) Nevada Financial Institution Division; (vi) North Dakota Department of Financial Institutions; and (vii) federal rules as promulgated by the SEC, IRA and DOL, as they may apply.
Support all required tax reporting, withholding, filings and notices.
Investigate and respond to all compliance related inquiries from management, staff, auditors, regulators, and other law enforcement agencies.
Collaborate with the (i) Ascensus ERISA Department, as applicable; and (ii) Ascensus Risk Management Department and Ascensus Corporate Legal Department on privacy, identity theft and fraud incidents.
Assist with other tasks and projects as assigned.
Supervision
Supervise a team of compliance professionals across multiple locations.
Mentor, coach, and support team members, including setting and measuring performance against goals, and furthering career development.
Allocate work across team members for maximum efficiency.
Ensure team delivers results within establish timelines and budgets.
Bachelor's Degree in related field or equivalent experience.
5 to 7 years [-of prior work experience with compliance in trust services, with experience in the retirement services industry preferred.
Experience in developing and delivering solutions that meet the needs of the organization.
Familiarity with MS-Office software applications, including Excel, PowerPoint, Word, Access & Visio.
Supervisory or Management experience preferred
Skills
Communication Skills - Excellent written and oral communication skills. Communication is well though-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
In-depth knowledge of banking/trust laws and regulations. Functional IRS Code and ERISA knowledge and a working understanding of relevant aspects of a financial services organization.
At Ascensus, we aspire to make a difference for others. We are a technology-enabled services company that helps people save for retirement, education, and healthcare through our network of institutional, financial advisor, and state partners. Our culture is guided by sound principles, is committed to high standards, operates with transparency, and welcomes diversity-housed within our Core Values: People Matter. Quality First. Integrity Always.
As a leading independent recordkeeping services partner, retirement plan third-party administrator, and government savings facilitator, we aim to hire associates who find pride in going to work every day knowing that they help more than 12 million people save for what matters.
Ascensus provides equal employment opportunities to all associates and applicants for employment without regard to ancestry, race, color, religion, sex, (including pregnancy, childbirth, breastfeeding and/or related medical conditions), gender, gender identity, gender expression, national origin, age, physical or mental disability, medical condition (including cancer and genetic characteristics), marital status, military or veteran status, genetic information, sexual orientation, criminal conviction record or any other protected category in accordance with applicable federal, state, or local laws ("Protected Status").
