Wealth Management Compliance Officer - Trust

NBT Bank•Norwich, NY

About The Position

Responsible for the implementation and adherence to trust related compliance with respective regulatory requirements and internal policies and procedures. Serves in the capacity of internal compliance officer for traditional trust account services by assuring all Wealth Management employees (excluding brokerage business) are in compliance with all federal, state, and ERISA (if applicable) rules and regulations as well as internal policy and procedures. Coordinates interactions with NBT's Risk Management Division, bank examiners and other regulatory agencies. Completes various testing relative to the trust self audit program and documents results.

Requirements

Bachelor's Degree or equivalent education/experience is required.
Minimum of 5 years of financial industry experience, preferably in Wealth.
Minimum of 3 years of compliance experience.
Excellent verbal and written communication skills, able to professionally represent banks position to examiners.
Strong organizational skills and detail oriented
Team player and team leader skills
Ability to understand, interpret and convey complex concepts and situations
Significant working knowledge of fiduciary regulatory requirements
Complete knowledge of recordkeeping account review process
Ability to team with department (business line) managers to maintain environment of compliance and governance
Position requires an understanding of compliance unique to the trust business
Successful candidate must be a strategic thinker and able to support the growth of the Wealth Management Division.
Subject matter expert on Regulation 9 review process

Responsibilities

Responsible for the trust compliance function to ensure compliance with fiduciary regulations and adherence to internal policies and procedures.
Coordinates interaction with internal and external examiners including timely response/resolution of exceptions identified during reviews.
Researches new applicable regulations and coordinates implementation with various departments.
Specific focus areas included; Trust Policy Manual; reg. 9 review process; and new account pre-acceptance process.
Perform Trust self audit procedures and ad hoc controls testing and summarizes results for review by management.
Coordinating member of OPAC.
Works with Fiduciary Services Officer to train staff on compliance related items.
Develop and maintain automatic reporting with our trust recordkeeping platform to include; overdraft reports, accounts no market value, missing fee schedule, accounts below 100k, accounts below 400k and missing account opening items.
Coordinate with Special Projects team to ensure delivery to Trust officers on daily basis.
Monitor resolution of breaches.
Participate in the monthly ARC meetings to monitor issues.
Provide targeted training to preempt potential loss/litigation/customer complaints
Coordinate and be present for each internal and external audit meeting and review.
Provide requested items and reports in a reasonable time frame to applicable entity.
Collaborate with business line manager for audit response and or remedy.
Other duties as assigned, including support as directed by Wealth Management Fiduciary Services Officer and other members of the Division leadership team.
Attendance at Division sponsored training and membership on the Trust Oversight Committee.

Benefits

At NBT we empower people to grow, innovate, and thrive through meaningful work, a supportive culture and opportunities to make a real impact in your community – because your success drives our success.
At NBT, we value and support your wellbeing by offering generous time-off policies, wellness initiatives and flexible work arrangements, so you can thrive both personally and professionally.
NBT believes community involvement fosters our success and the success of those around us. Through volunteer service and charitable partnerships, we empower our employees to make a positive impact beyond the workplace.
NBT believes in creating a workplace where every voice matters and every team member feels empowered to contribute. With supportive leadership, we foster an environment where employees are connected, inspired, and valued.
Whether you’re just starting your career or serve in a senior leadership role, your growth and development are our priority. NBT provides a wide variety of development programs and tools for you to reach your full potential.
NBT recognizes and rewards your contributions with competitive compensation, comprehensive benefits and performance-based incentives – ensuring you feel valued every step of the way.
NBT has built a reputation as a stable financial institution by growing our people and our business, evolving our processes and managing risk. We've weathered the market's ups and downs for over 165 years, all while charting a well-defined growth plan.
Generous Paid Time Off: At least 22 days annually, prorated in the year of hire.
Parental Leave: Six weeks of paid leave at 100% of your salary.
Comprehensive Medical Coverage: Includes employer contributions to HSA for High Deductible Health Plan participants.
Dental and Vision Coverage: Ensuring your overall health and well-being.
Flexible Spending Accounts: For healthcare and dependent care expenses.
Employer-Paid Disability Coverage: Both short-term and long-term, with an option to purchase additional long-term coverage.
Life Insurance: Employer-paid basic life insurance, with an option to purchase supplemental coverage.
Voluntary Benefits: Including hospital, accident, and critical illness coverage.
Retirement Plans: Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan to help secure your future.
Adoption Assistance: Supporting your growing family.
Tuition Reimbursement: Invest in your education and career growth.
Employee Assistance Program (EAP): Access to support and resources.
Pet Insurance: For all your furry friends.
Financial and Banking Services: Various banking services benefits and financial planning assistance.
Medical Coverage: Includes employer contributions to HSA for High Deductible Health Plan participants.
Dental and Vision Coverage: Ensuring your overall health and well-being.
Voluntary Benefits: Including hospital, accident, and critical illness coverage.
Generous Parental Leave: Six weeks of paid leave at 100% of your salary.
Retirement Plans: Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan for employees who work at least 1,000 hours in a calendar year, all designed to help secure your future
Paid Sick and Safe Leave: For your health and safety.
Employee Assistance Program (EAP): Access to support and resources.
Financial and Banking Services: Various banking services benefits and financial planning assistance.