Director of Bank and Fiduciary Compliance

Description

This position reports directly to the organization’s Chief Compliance Officer. The ideal candidate should have a minimum of 15+ years of experience working in a senior compliance role within a bank or trust company, with relevant bank examiner experience also a plus. Serving in a strategic role as the subject matter expert in banking and fiduciary compliance, the candidate should have a deep understanding of relevant banking and fiduciary laws, rules, and regulations, including OCC’s Regulation 9, in the context of an organization focused on wealth planning, fiduciary and investment management, and family office services, is essential.

Responsibilities

• Oversee and continuously enhance the compliance risk management, testing, and surveillance programs for the firm’s bank holding company, and its national and state-chartered banks and trust companies.
• Collaborate with Legal colleagues to develop, implement, and maintain compliance policies and procedures.
• Monitor and track relevant regulatory developments (e.g., FRB, OCC, FDIC, CIMA, and applicable state laws) and industry best practices.
• Work closely with Client and Wealth Advisors, as well as investment, finance, technology and operational teams, to design and implement effective operational policies and procedures.
• Support and assist in managing regulatory examinations and internal audits.
• Lead and mentor a team of compliance professionals, fostering a culture of excellence.
• Assist in overseeing the organization’s core compliance program, including the Code of Ethics.
• Liaise closely with the firm’s designated AML/BSA/OFAC Officer.
• Serve as a resource to governance committees and participate in meetings as appropriate.
• Develop and conduct compliance-related training to ensure regulatory expectations are met and promote a culture of compliance.

Qualifications

• Extensive senior-level compliance experience in the banking, wealth management and/or fiduciary industry.
• Deep knowledge of relevant banking and fiduciary compliance laws, rules, and regulations (e.g., Regulation 9, Regulation O, Regulation W, GLBA & Regulation P, Regulation R, ERISA, USA Patriot Act).
• Significant experience interacting with regulators and auditors, managing regulatory examinations, and tracking related issues.
• Proven leadership experience in managing and mentoring compliance teams.
• Strong ability to identify and escalate issues appropriately while maintaining a diplomatic approach in collaborating with staff at all levels, as well as legal and operational partners.
• Excellent verbal and written communication skills with the ability to influence outcomes and present complex topics in an actionable manner to senior and executive management.
• Demonstrated ability to innovate, particularly in implementing technology-driven compliance solutions.
• Knowledge of proprietary mutual fund operations within a bank, trust company, or wealth management environment (preferred).
• Familiarity with automated Regulation 9 Account Review platforms.
• Familiarity with broker-dealer operations and compliance (FINRA Rules) (a plus).
• Familiarity with insurance advisory operations and compliance (State Licensing requirements) (a plus).
• Understanding of bank investment management processes (a plus).
• Prior experience as a bank examiner (a plus).
• Relevant certifications (e.g., FIRMA, CFIRS, CAMS) (a plus).
• A law degree is beneficial but not required.
• An approachable, dedicated, collaborative, and diligent work style.

 

The base salary range for this position is $250,000 - $320,000. Actual salaries will vary and will be based on various factors, such as skills, experience, and qualification for the role. It is not typical for offers to be made at or near the top of the range.

 

In addition, this position may be eligible for a discretionary incentive based on individual and company performance.

 

Eligible employees may participate in a 401 (k) program with a company profit sharing contribution, medical, dental, vision, life insurance and disability coverage and paid holidays, vacation, and sick days.

 

About Bessemer Trust:

• Bessemer Trust is a family office, ov