Head of Risk and Compliance - Wealth and Trust

First National Bank•Minneapolis, MN

22h•Onsite

About The Position

The Head of Risk and Compliance - Wealth and Trust leads first-line risk management and compliance oversight for the Wealth Division. This role provides independent risk oversight, assessment, and monitoring across all wealth activities while ensuring comprehensive regulatory program management and examination collaboration. This position requires a risk-focused leader with deep wealth management regulatory expertise who can design frameworks that enhance both regulatory adherence and operational efficiency. You will have decision-making authority and accountability for risk acceptance and compliance matters with financial implications for the division. This role serves as a key member of the Wealth Division Leadership Team and participates in wealth committees and management meetings.

Requirements

Bachelor's degree required
10+ years of experience in financial services with at least five years in progressive leadership roles managing risk and compliance functions across wealth management business lines
Proven experience with OCC, SEC, FINRA, trust, RIA, broker-dealer, and capital markets regulations
Deep knowledge of SEC Investment Advisers Act, FINRA conduct rules, OCC trust regulations, and state fiduciary requirements
Skilled in operational risk identification, internal controls, scenario analysis, and root cause remediation
Exceptional analytical, communication, and leadership skills; ability to influence across all levels
Excellent written and presentation skills
Data-driven decision-making approach
Understanding of bank policy, laws, FINRA/SEC regulations, and BSA/AML Program
Candidates must possess unrestricted work authorization and not require future sponsorship.

Nice To Haves

Advanced degree (MBA/JD) or industry certifications (e.g., CFA, CCO, CAMS, CFIRS, CRCP, CTFA, IAACP) strongly preferred
Series 7, 24 strongly preferred (or ability to obtain)

Responsibilities

Conduct comprehensive risk assessments across wealth management activities (trust, investment advisory, brokerage)
Provide independent first-line oversight of operational, fiduciary, reputational, and strategic risks
Develop, implement, and monitor Key Risk Indicators (KRIs) and risk metrics
Oversee testing, monitoring, risk assessments, and mitigation plans for the division
Make independent decisions regarding risk acceptance within established governance frameworks
Evaluate existing processes and direct activities to address control gaps using deep knowledge of common risks
Anticipate, assess, monitor and report on risks to division leadership and enterprise risk management
Serve as compliance leader for the Wealth division ensuring adherence to SEC RIA regulations, FINRA rules, OCC trust requirements, and state fiduciary regulations
Implement and maintain comprehensive compliance programs across wealth business lines
Serve as liaison with second line during examinations, inquiries, and ongoing regulatory relationships
Develop and maintain division-wide compliance policies, procedures, and control frameworks
Oversee compliance monitoring, testing, and surveillance programs across all operational areas
Lead compliance training programs and ensure staff understanding of regulatory obligations
Create and update compliance policies covering fiduciary duties, conflicts of interest, advertising, and privacy requirements
Oversee preparation of regulatory documents including Form ADV, RC-T, 13F, and other required filings as well as books and records
Ensure proper licensing and registration maintenance across all division personnel
Coordinate with Legal and Enterprise Compliance on regulatory matters and policy updates
Build and lead the Wealth Risk and Compliance team, including at least two direct reports and 1-3 dotted line direct reports and a total of 15-20 team members.
Develop talent pipeline for critical risk and compliance capabilities
Foster a culture of proactive risk identification and regulatory excellence
Collaborate with division leadership to embed risk awareness across all teams
Serve as strategic advisor to division management on risk and compliance matters
Participate actively in business meetings, risk committees, and planning sessions
Build trusted relationships with legal, audit, finance, enterprise risk, and front-office leadership
Contribute to enterprise-wide risk strategy development by representing the Wealth division in bank-level forums
Anticipate industry and regulatory trends to position the Wealth division for future success
Represent the Wealth division in enterprise-level governance committees and external industry forums
Work closely with senior leaders to provide guidance on strategic initiatives to avoid compliance and reputational issues