About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.  

Northern Trust is proud to provide innovative financial services and guidance to the world’s most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

COMPLIANCE SPECIALIST - IRA

OH: R137351

The Compliance Specialist – IRA is key member of the Trust Management first line of defense compliance team, which is responsible for ensuring compliance with all risk, audit, regulatory and other issues by the practice and front line, with a focus on IRA matters. Responsibilities of this role include advising on IRA matters involving Wealth Management clients, oversight and direction for all IRA requirements, education of front line partners on IRA topics, testing/auditing compliance on behalf of the Practice and Legal and Compliance to ensure consistency and prudence in Northern Trust’s approach to IRA and ERISA matters. The Compliance Specialist – IRA will work as an individual contributor in a team environment.

Key Responsibilities of the Role include:

Advise and collaborate with Compliance, Legal, and Trust Practice to identify IRA and ERISA fiduciary regulatory requirements and risks, and monitor compliance with standards and regulations, including the application of prohibited transaction exemptions under IRC Section 4975.Draft, modify, implement, and communicate IRA and ERISA Risk Management and Compliance procedures and related materials for application across Wealth Management Trust PracticeAct as the first point of contact for assistance with questions regarding IRA Risk Management and Compliance mattersAct in a consultative role to leaders throughout the Northern Trust Wealth Management Trust Practice on IRA and ERISA-related matters, including making recommendations for additional trainingAdvise on development of metrics and reports to track and assess risks, assist in identifying compliance gaps, and support remediation effortsKeep abreast of industry trends, regulatory changes, and emerging risks to proactively identify potential threats and opportunities Collaborate with operational leaders to quickly identify and create effective and sustainable solutions for resolving fiduciary regulatory risk issues Communicate, evaluate and advise on the implementation of regulatory changes where requiredProvide knowledge and training on IRA and ERISA topics, include IRC Section 4975 to ensure front line knowledge and complianceParticipate in special projects as needed and perform other duties as assigned to support the Trust Practice compliance and risk obligationsCoordinate required regulatory mailings related to IRAs, SPPs and ERISA

The successful candidate will benefit from having the following competencies:

IRA and Section 4975 fiduciary subject matter expertise in a financial services company context, including knowledge and understanding of Prohibited Transactions; knowledge of ERISAKnowledge of IRA and employee benefits laws, Internal Revenue Code and regulations, compliance, and resolution programsExcellent knowledge of industry regulations, trends, and requirements related to IRAs, including reporting procedures and record keepingGeneral fiduciary Risk Management and Compliance knowledge a plusExcellent analytic, written and verbal skills, with the ability to clearly and concisely present complex information to a diverse range of individualsAbility to create and maintain strong internal partnerships, to work independently and as part of a team, and to efficiently and effectively problem solveWell-organized with special attention to detailStrong organizational skills, a collaborative approach to work, with strong interpersonal skillsAbility to identify problems, develop and communicate solutionsExcellent communication skills (both written and oral) to interact and manage expectations with senior level audiences, stakeholders and managementA strong and proven ability to analyze, break down and explain complex issues in non-technical languageHighly flexible and adaptable to change, with a positive attitude and vision to continually enhance / strengthen current status quo

 

Salary Range:

$114,700 - 194,900 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us: 

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We’d love to learn more about how your interests and experience could be a fit with one of the world’s most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater 

Reasonable accommodation

  

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.

 
We hope you’re excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.