Trust Officer

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

Full Time VP Level Las Vegas, NV, US

6 days ago Requisition

Location:

Las Vegas, NV Job Type: Full-Time or Part-Time/Exempt

Industry: Retirement Services/Fin Tech Software Travel: 0%-5%

ILX Trust is a start-up passive trust company wholly owned subsidiary of IRALOGIX, a modern financial technology company transforming the nearly $20 trillion IRA market with cloud-based, fully digital IRA solutions for America’s financial institutions. By modernizing how IRA accounts are managed and delivered, we expand access to retirement savings while helping our client-partners grow and compete. At IRALOGIX and its wholly owned companies, we’re proud that our employees are part of a collaborative, fast-growing organization where ideas are valued and ownership is encouraged.

We invest in sophisticated, next-gen technology, clear processes, and strong partnerships so our teams can do their best work and see the real-world impact of what they create. And we’re committed to building a workplace that supports learning, innovation, and long-term career development, allowing employees to grow alongside the company.

Role:

As a TRUST OFFICER, you will serve as a fiduciary and regulatory subject matter expert responsible for overseeing the administration, compliance, and governance of IRA trust and custodial operations at IRALOGIX’s Trust Company. This role ensures that all retirement account services are delivered in accordance with IRS regulations, ERISA requirements, Department of Labor guidelines, state trust laws, and applicable federal and state banking regulations.

The Trust Officer works cross-functionally with Product, Engineering, Legal, Compliance, and Client Success teams to embed regulatory requirements into IRALOGIX’s digital IRA platform, support financial institution partners with trust and fiduciary matters, and serve as a key resource for regulatory examinations and audits. This person will report directly to the President of the Trust Company.

Responsibilities:

• Trust Administration & Fiduciary Oversight:
  Oversee the administration of IRA trust and custodial accounts, ensuring compliance with all fiduciary obligations and regulatory requirements.
• As a start-up, new processes and practices will need to be put into place using project management skills.
• Ensure proper handling of IRA contributions, distributions, rollovers, transfers, conversions, recharacterizations, and required minimum distributions (RMDs).
• Review and approve complex or non-standard IRA transactions, including inherited IRA distributions, qualified charitable distributions (QCDs), and prohibited transaction reviews.
• Managing a demand deposit account utilized by the Trust Company.
• Ensuring daily reconciliation of trust accounts.
• Monitor account administration processes to ensure adherence to IRS contribution limits, eligibility rules, and beneficiary designation requirements.
• Oversee escheatment and abandoned property processes for retirement accounts in compliance with state unclaimed property laws.
• Serve as the fiduciary decision-maker on matters requiring trust officer authority or discretion.

Regulatory Compliance &

Risk Management:

• Ensure compliance with IRS regulations governing IRAs (IRC Sections 408, 408A, 402, 401), including Traditional, Roth, SEP, and SIMPLE IRA requirements.
• Monitor and interpret regulatory changes from the IRS, Department of Labor, SEC, FINRA, state regulators, and banking authorities that impact IRA operations.
• Develop, maintain, and enforce trust policies and procedures that govern IRA account administration.
• Support regulatory examinations, audits, and inquiries from federal and state regulators.
• Conduct periodic compliance reviews and risk assessments of trust and custodial operations.

JOB DESCRIPTION

• Collaborate with Legal and Compliance to assess regulatory risk, respond to enforcement actions, and implement corrective measures.
• Manage the IRA plan document, custodial agreement, and disclosure statement review and update process.

Tax…