Director, Wealth Management and Fiduciary Compliance
At FNBO, our employees are the heart of our story—and we’re committed to their success! Please see below the details of this career opportunity and how it fits into our organization’s success.
Our Modern, Flexible Workplace:
We believe in a Modern, Flexible Workplace, and we are continuously exploring advancements in technology and office environments to make it easier to work from anywhere at any time, allowing for more flexibility in where and how you work. We know that choice and flexibility are important to you. We also recognize that flexible and remote positions can become opportunities for military partners, caregivers, and individuals with disabilities to thrive at our company. We invite you to consider what a Modern, Flexible Workplace can mean for you!It is anticipated that an incumbent in this role will work remotely for three (3) or more days a week and will share a hoteling workspace when working onsite. Work location is subject to change based on business needs.
Summary of the Job:
The Director, Wealth Management Compliance is responsible for managing the compliance programs for Non-Deposit Investments, Personal and Institutional Trust and other areas of Wealth Management Compliance at First National Bank. This position advises First National Bank business units on OCC Regulation 9, Fiduciary Risk and ERISA requirements and serves as the primary contact for regulatory exams impacting FNBO Wealth Management.
About This Role:
Regulatory Change Management:
- Provide regulatory advice on Investment Advisers Act, OCC Regulation 9, Interagency Statement on Retail Non-Deposit Investment products and ERISA regulatory topics
- Understand all OCC, SEC and other applicable requirements for these business lines
- Monitor regulatory landscape and determines applicability to internal business units
- Establish implementation requirements for regulatory changes and administers change control process within applicable business units
- Consider complex scenarios and identify potential issues and conflicts of interest
- Establish annual regulatory training calendar for the business units, approves training content and works with Human Resources, Corporate Compliance SME and business units to administer and monitor training completion
- Maintain and administer compliance risk assessments; aggregate results and report on gaps to risk appetite
- Work with the Compliance Testing team to coordinate testing of controls and require action plans when gaps are identified; Ensure testing includes Fiduciary Activities of National Banks, ERISA, Regulation R, Investment Advisers Act, OCC requirements for Retail Non-Deposit Investment products and any other work performed by 1st line, such as: Mutual Fund testing, 17j-1 testing, 12 CFR 12, Receipts/Disbursement Analysis, CDs; Semi Annual ILIT Account reviews; Investment Objective Review; Super Review and Peer Review; Conflict of Interest Testing, Complaint Testing and root cause analysis
- Develop appropriate monitoring of first line testing
- Review and approve all program compliance procedures
Compliance Issues and Corrective Action:
- Implement and adapt as applicable Corporate Compliance business issues reporting and remediation standards, approve action plans and validate implementation
- Escalate past due issues
- Perform trending and root cause analysis, produce management reporting to be integrated in the overall First National Bank complaints reporting and facilitate process changes
- Lead regulatory examinations, request and review responses from applicable business units
Leadership & Teamwork: Promotes an environment that supports collaboration/partnership
- Fosters positive working relationships with business units, internal audit and appropriate senior management stakeholders to support compliance reviews and monitoring & testing. Offers guidance and advice to appropriate stakeholders as needed
- Sets priority and makes day-to-day decisions. Escalates matters to senior management as needed.
- Provide leadership, motivation, coaching and assessment to ensure optimum team and individual performance in support of company and department goals
The Ideal Candidate for This Role:
Knowledge, Skills and Abilities
- Ability to think creatively and strategically, while still developing and implementing tactical plans.
- Excellent communication skills at all levels in the organization. Proven ability to influence in high impact business meetings.
- Strong interpersonal skills, including the ability to build collaborative relationships, listen and actively contribute to discussions.
- Regulatory Expertise:
- Is knowledgeable of Trust regulation(s), remaining aware of changes to the regulation or applicability of the regulation to the business unit.
- Is knowledgeable of OCC RNDIP requirements.
- Has experience with fiduciary obligations including Investment Advisers Act
- Monitors regulatory activities and industry developments and identify trends and emerging issues.
- JD strongly preferred
- Must be able to analyze laws and regulations
- 5 years compliance experience or related financial industry field
- Must have the ability to identify conflicts of interest and analyze complex scenarios
- Must be a self-starter with the ability to work independently and manage multiple priorities
- Experience managing communications with regulators and internal audit departments
- Certified Fiduciary & Investment Risk Specialist/Certified Trust and Financial Advisor or equivalent preferred
- General investment knowledge
Equity, Diversity, & Inclusion:
FNBO is committed to belonging, inclusion, diversity and equity. We are committed to intentionally and proactively creating pathways to success for historically underrepresented populations. To accomplish this, we foster a culture of belonging and inclusion so that every employee is valued, and has opportunity and the ability to make an impact. FNBO strives to reflect the diversity of the communities we serve in the makeup of our workforce.
See the full FNBO Equity, Diversity, & Inclusion Statement here
All qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or disability status.
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