Plan Compliance Specialist

Compliance Specialist

AmericanTCS, recently integrated as part of Ascensus, has forged a lasting legacy for more than 50 years, embodying strength and resilience while championing change and innovation across the retirement industry. We provide a diverse range of tailored retirement plan solutions that symbolize resilience, versatility and strength.

The Compliance Specialist reports to the Director of Trust Compliance and supports Trust Compliance, AML Compliance, the Chief Compliance Officer, and Trust Services Manager for tasks managed by the respective areas.

Responsibilities:

• Primary owner of tasks associated with the Investment Only Collective Investment Trusts (IO CITs) offerings on American Trust Company's (ATC) CIT platform
• Review new fund participation agreement requests for accuracy and determine eligibility to invest in the IO CITs, and coordinate plan set-up with Mid Atlantic Trust Company
• Retrieve all the required documentation (Plan Document/Adoption Agreement and/or 3(38) agreement, Distributor agreement, etc.)
• Perform KYC-CIP using Lexis Nexis, OFAC search and website searches
• Manually track the IO CIT plans via spreadsheets saved on shared drive
• Perform monthly reconciliations of all the IO CITs to verify plan holdings, including identifying any new plans, plan withdrawals and/or discrepancies
• Prepare all Form 5500 Schedule D Letters/Certifications for the IO CIT plans corresponding to the Plan Year End
• Update/edit all the required fund disclosures – semi-annually (Word and PDF formats)
• Update/edit all the fund participation agreements and distributor agreements, as needed (Word and PDF formats)
• Prepare list of new and terminated plans (IO CITs) quarterly for the Trust Participation Fiduciary Committee
• Monitor the group email boxes for any new requests, inquiries, questions, etc.
• Assist Chief Compliance Officer in responding to potential violations of rules, regulations, policies, procedures and standards of conduct.
• Assist Chief Compliance Officer with monitoring various Anti-Money Laundering procedures, including FinCEN and OFAC daily and weekly tasks, AML training, etc.
• Assist Chief Compliance Officer in tasks associated with Trust Company regulatory exams, regulatory and similar inquiries
• Assist Trust Compliance Officer with DFE filings related to the IO CITs and generate reports as needed for Plan Trustee Reviews
• Performs (shared), as needed, Anti-Money Laundering / Know Your Customer procedures, i.e., new customer identification and verification procedures (FinCEN and OFAC checks, Lexis Nexis verifications, etc.) and ongoing AML monitoring and reporting for MATC and ATC
• Provides support, as needed, for compliance business reviews, account reviews, requests, etc.
• Other responsibilities may include (dependent upon availability and need):
  Perform other compliance tasks (both routine and projects) as assigned

Supervisory Responsibilities:

None

Skills/Abilities:

• ERISA and AML knowledge and experience preferred.
• Proficient in Microsoft Office products required.
• Proficiency in Microsoft SharePoint beneficial.
• Application experience helpful but not required:
  Relius, Salesforce, Lexis Nexis, FT Williams, Mid Atlantic systems
• General skills: communication, attention to detail, analytical, ability to manage multiple projects/responsibilities, and willingness to learn new responsibilities and subject matters.

Qualifications:

• Education - Minimum 4 Year / Bachelors Degree in accounting, finance, or complimentary field, or comparable work experience.
• Minimum two years' experience in either: internal audit, financial services operations, or regulatory compliance. Comparable experience considered.

Disclaimer:
The above describes the general nature and level of work assigned and is not an exhaustive list. More detailed listing of duties inherent in this position may be outlined in supplemental documents (e.g. responsibilities and objectives, or procedures). This document is subject to change at the discretion of Edge Co Holdings.

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