Compliance Specialist ERISA (Finance)

About Northern Trust:

Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.

Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

COMPLIANCE SPECIALIST - ERISA

OH: R137351

The Compliance Specialist - ERISA is key member of the Trust Management first line of defense compliance team, which is responsible for ensuring compliance with all risk, audit, regulatory and other issues by the practice and front line, with a focus on ERISA and employee benefits matters. Responsibilities of this role include advising on ERISA and employee benefit matters involving Wealth Management clients, oversight and direction for all ERISA and employee benefit requirements, education of front-line partners on ERISA and employee benefits-related topics, testing/auditing compliance on behalf of the Practice and Legal and Compliance to ensure consistency and prudence in Northern Trust's approach to ERISA and employee benefit matters. The Compliance Specialist - ERISA will work as an individual contributor in a team environment.

Key Responsibilities of the Role include:

• Advise and collaborate with Compliance, Legal, and Trust Practice to identify ERISA fiduciary regulatory requirements and risks, and monitor compliance with standards and regulations, including the application of prohibited transaction exemptions
• Draft, modify, implement, and communicate ERISA Risk Management and Compliance policies and related materials for application across Wealth Management
• Act as the first point of contact for assistance with questions regarding ERISA Risk Management and Compliance matters
• Act in a consultative role to leaders throughout Northern Trust Wealth Management on ERISA-related matters, including making recommendations for additional training

• Advise on development of metrics and reports to track and assess risks, assist in identifying compliance gaps, and support remediation efforts
• Keep abreast of industry trends, regulatory changes, and emerging risks to proactively identify potential threats and opportunities
• Collaborate with operational leaders to quickly identify and create effective and sustainable solutions for resolving fiduciary regulatory risk issues
• Communicate, evaluate and advise on the implementation of regulatory changes where required
• Provide knowledge and training on ERISA and employee benefits topics to ensure front line knowledge and compliance

• Participate in special projects as needed and perform other duties as assigned to support the Trust Practice compliance and risk obligations

The successful candidate will benefit from having the following competencies:

• Employee Retirement Income Security Act (ERISA) fiduciary subject matter expertise in a financial services company context, including knowledge and understanding of Prohibited Transactions
• Knowledge of employee benefits laws, Internal Revenue Code and regulations, compliance, and resolution programs
• Excellent knowledge of industry regulations, trends, and requirements related to ERISA, including reporting procedures and record keeping
• IRA knowledge and general fiduciary Risk Management and Compliance knowledge a plus
• Excellent analytic, written and verbal skills, with the ability to clearly and concisely present complex information to a diverse range of individuals
• Ability to create and maintain strong internal partnerships, to work independently and as part of a team, and to efficiently and effectively problem solve
• Well-organized with special attention to detail
• Strong organizational skills, a collaborative approach to work, with strong interpersonal skills
• Ability to identify problems, develop and communicate solutions
• Excellent communication skills (both written and oral) to interact and manage expectations with senior level audiences, stakeholders and management
• A strong and proven ability to analyze, break down and explain complex issues in non-technical language
• Highly flexible and adaptable to change, with a positive attitude and vision to continually enhance / strengthen current status quo

Salary Range:
$114,700 - 194,900 USD

Salary range is a good faith estimate of base pay. Northern Trust provides a comprehensive benefits package including retirement benefits (401k and pension), health and welfare benefits (medical, dental, vision, spending accounts and disability), paid time off, parental and caregiver leave, life & accident insurance, and other voluntary and well-being benefits. Northern Trust also provides a discretionary bonus program that may include an equity component.

Working with Us:

As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.

Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.

We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater

Reasonable accommodation

Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com .

We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.

Apply today and talk to us about your flexible working requirements and together we can achieve greater.