Compliance Analyst, Finance & Banking

Company Overview

National Advisors Trust Company (NATC), the primary subsidiary of National Advisors Holdings (NAH), is one of the largest independent national trust companies in the United States, with approximately $6.38 billion in assets under administration within its strong and growing asset base. Founded in 2001, NATC provides corporate directed trustee, fiduciary, and custodial services to the financial services industry and the clients they serve.

National Advisors Trust South Dakota, Inc. (NATSD) is a state-charted non-depository trust company with approximately $890 million in assets under administration. Headquartered in Sioux Falls, NATSD delivers trust services and solutions to registered investment advisors (RIAs) and their high net worth (HNW) and ultra-high net worth (UHNW) clients who benefit from South Dakota's unique trust jurisdiction opportunities for protecting and passing along wealth.

Together, NATC and NATSD - known as National Advisors Trust (NAT) - has an evolving culture as it continues to adapt and grow in a wealth management industry that is continually changing. The firm's culture aligns with individuals who have an appetite to ask questions, contribute content, offer new or better solutions, foster internal relationships, and serve clients at the highest levels.

Job Summary

The Compliance Analyst plays a key role in supporting NAT's enterprise risk management (ERM) function. Reporting to the BSA/AML Officer, this position serves an integral role in ensuring implementation of and adherence to the organization's Compliance and BSA/AML programs' framework, policies, and procedures to meet regulatory requirements and industry best practices. This position requires an understanding of trust relationships as well as knowledge of Compliance regulations and Bank Secrecy Act / Anti-Money Laundering / Countering the Financing of Terrorism & Office of Foreign Assets Control (BSA/AML/CFT & OFAC) laws and regulations.

Responsibilities and Duties:

BSA/AML

• Assist in the review and disposition of Customer Identification Program (CIP) failures and watchlist alerts.
• Assist in the review and approval of new account BSA/AML Checklist Packets.
• Assist in the review and approval of outgoing international wires.
• Assist in the review and OFAC check of new unique assets.
• Lead the BSA/AML Team's efforts in the daily scrub of NAT's customer base for potential OFAC matches and the monthly scrub for potential Politically Exposed Persons (PEP) and Section 311 matches; review and disposition of any potential matches.
• Lead the BSA/AML Team's efforts in the review of new accounts as they age to 90 days for appropriate documentation of CIP and Customer Due Diligence / Enhanced Due Diligence (CDD/EDD) information as well as comparison of anticipated vs. actual transaction activity.
• Lead the BSA/AML Team's efforts in the annual comprehensive reviews of Moderate Risk accounts; review of CIP information, CDD/EDD information, transaction activity, and other pertinent information to make risk-based conclusions of reasonability of account status and activity.

Compliance

• Execute compliance monitoring and testing in accordance with the Compliance Program Testing Plan. Follow the methodology of routine testing that is conducted monthly, quarterly, and annually. Analyze testing results, prepare summary reports, and communicate findings to stakeholders. Identify and document control gaps, observations, and potential compliance risk.

Testing activities may include:

• • B2B & B2C Fee Calculations, Fee Schedules, and Fee Blocks
  • Business Continuity Plan (BCP)
  • Custody Accounts
  • Demand Deposit Marketplace
  • Disbursements / Distributions
  • Estate Planning
  • Logical & Physical Security & Controls
  • Trust Accounts
  • Ad-Hoc testing on a risk-based approach

Additional Compliance activities may include:

• • Administration of Compliance Training
  • Regulatory Exam Support
  • Onboarding / Offboarding Access
  • Vendor & Counter party Management

General

• Actively seek to expand professional education and individual skills through research, external/internal training, and collaboration with peers.
• Adhere to all internal and external regulatory requirements, standards, policies, and procedures.
• Compliance with BSA/AML & OFAC related laws and regulations as they apply within the scope of this position, including but not limited to, prompt completion of required Compliance and BSA/AML/OFAC training.
• Additional duties and special projects as needed.

Organization and Analytical Skills:

• Excellent verbal and written communication skills.
• Strong attention to detail with excellent analytical skills and the ability to exercise independent judgment consistent with procedures.
• Flexibility to work independently and in conjunction with other team members in an office and/or remote work environment.
• Ability to organize and prioritize workflow to meet deadlines.
• Ability to maintain confidentiality.
• Ability to adapt to changing regulations.

Preferred Qualifications:

• Associate or bachelor's degree in a related field (banking,…