Wealth Management Compliance Officer - Trust

Pay Range: $73,536.00 - $98,010.00

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.

Education and Experience:

• 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.

Skills and Abilities:

• 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

Unique Job Characteristics and Requirements:

*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

Tasks Performed:

• 40% 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.
• 30% 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
• 25% 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.
• 5% 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.

Physical Requirements:

• Communicate effectively with internal and/or external customers
• Stationary 75% of time or greater
• Move Objects to Maximum 10 lbs

Why Work at NBT

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. 

Wellbeing 

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. 

Community Involvement 

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. 

Culture 

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.