Wealth Management Compliance Associate
- Employer
- Alerus Financial
- Location
- Minnesota
- Salary
- Join our team!
Job Details
This position will serve as the primary coordinator of Wealth Management risk management activities. These activities include coordinating internal and external compliance, audit and regulator requests, and administration and enhancement of ongoing compliance reporting packages for leadership and governing committees. They support risk management related programs and projects to ensure proper execution of unit's first line of defense requirements, as well as support our fiduciary risk professionals in ongoing compliance and administrative tasks. The Associate builds and retains effective relationships with both internal and external clients.
Essential Responsibilities:
Job Function 1: AIFS Compliance - 25%
- Prepare Government Reporting: pulling monthly reports for the RCT Schedule, and quarterly preparation of the 13F for filing.
- Prepare, monitor and follow up on internal compliance and administrative reports for Trust Administration Committee and Trust Directors Committee.
- Manage all internal and external exam request lists.
- Complete any response or necessary follow-up from internal and external report findings.
Job Function 2: Administrative Compliance - 25%
- Support the annual asset review process.
- Address overdrafts, stale-dated checks, and low balance accounts. Escalate to the appropriate Officer and/or department manager as needed.
- Assist in the completion of the annual Investment Policy Statement, remediation plans, concentrations, hard-to-value asset pricing, and late loan payments.
- Assist with the real estate annual review process to assure occupant checklists and property reviews are completed by FNC and IMM prior to the administrative review.
Job Function 3: Wealth Management Compliance Testing - 25%
- Ensure updated annual pricing of all securities (ex: RE, Insurance Policies, closely held assets, REITs).
- Run daily/monthly BSA reports and report on findings.
- Monitor Reg 9's both 60 day and annual for timely completion.
- Approve Fiduciary Analysis forms (DOL PTE2020-02)
- Define, build, and document compliance procedures as assigned.
- Review and test identified compliance functions and ensure alignment between systems and documentation.
Job Function 4: Trust Administration - 25%
- Collaborate with the Trust Officers daily to complete necessary administrative matters.
- Responsible for the opening and closing of trust accounts.
- Perform account maintenance as needed.
- Assist the Trust Officer in the administration of a decedent's estate.
- Manage scholarship accounts process.
- Monitor account cash balances.
- Work with Trust Officer with client distributions and invoice/bill payments.
- Responsible to assist clients when Trust Officers are unavailable.
- Provide effective communication to inquiries from external and internal clients in an accurate and timely manner.
- Manage the Nautilus incoming mail and incoming checks workflow.
Position Requirements:
Qualifications:
- Associate's or Bachelor's degree in accounting, business, finance, or paralegal preferred.
- Minimum of 2 years of Trust or Wealth Management experience.
- Effective time management to ensure work is completed efficiently and within established timeframes.
- Effective oral and written communication skills.
- Knowledge of Microsoft Word, Excel and other basic computer skills.
Personal Characteristics:
- Ability to communicate problems and propose and negotiate resolution.
- Skilled in telephone communications with internal and external partners.
- Ability to work independently and prioritize multiple tasks to meet deadlines.
- Strong organizational skills.
- Attentive to detail.
Physical Demands - Must be met with or without a reasonable accommodation:
- Extended periods of time sitting at a desk and using office equipment.
- Ability to operate a personal computer/laptop for approximately 8 hours per day.
- Extended time is spent reviewing physical and electronic documents.
- The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
- Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
- Will spend most of time in an indoor environment.
Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
Company
Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.
What is the current company culture like?
While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.
What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.
How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.
Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.
What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.
See the current Alerus job openings below!
- Website
- https://alerus.com/
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