Compliance Analyst
MILLENNIUM TRUST COMPANY is a rapidly-growing, leading financial services company offering specialized retirement and institutional services. Whether clients are managing corporate retirement assets, running a business or wanting choice beyond traditional asset options, we provide flexible and digital solutions to support our clients’ success. Ultimately, we aim to educate and increase access to investments to help our clients on their journey to retirement readiness, but do not provide investment advice.
Millennium Trust has experienced year-to-year double digit growth and prides itself on its strong, progressive culture. We have been recognized for our tremendous growth on lists, such as Crain’s Fast 50 and Inc. 5000, and have also been recognized for our positive workplace culture on the 2019 Best Places to Work in Illinois list, as well as the 2019 Model Workplace Award and 2018 Champion for Young Professionals Award from the Greater Oak Brook Chamber of Commerce. Millennium Trust employees live out the values of Do Right, Excel, Collaborate, Innovate and Celebrate and deliver the brand promise of going “Above and Beyond,” so each client experiences the highest level of service.
We are always looking to expand our growing team with dynamic and enthusiastic individuals. If you enjoy a collaborative, fun environment that encourages career development, Millennium Trust is the place for you!
POSITION SUMMARY:
The Compliance Analyst will be responsible for reviewing red flags, drafting and filing suspicious activity reports (SARs), preparing monthly reports, processing OFAC reviews, managing incoming requests to the department, addressing Customer Identification Program (CIP) clearance issues, Know Your Client (KYC) reviews, answering various compliance-related questions, responding to client complaints, compliance monitoring, and reviewing certain client documents for compliance purposes. The position will also provide assistance on other compliance program elements such as training, risk management, ethics and testing functions. The Compliance Analyst will rely on limited experience and judgment to plan and accomplish goals, and will work under general supervision. The position performs a variety of tasks.
ESSENTIAL JOB FUNCTIONS:
- OFAC reviews, CIP clearance, KYC, and ‘red flags’ review
- Review client documents for IRA compliance purposes
- Assist in resolving and responding to client complaints
- Provide limited compliance guidance to standard employee questions
- Other compliance functions as needed, such as assisting with compliance tests, monitoring, risk management, etc.
EDUCATION, EXPERIENCE AND SKILLS REQUIRED:
- Bachelor’s degree preferred but not required
- 1 to 3 years of applicable work experience required
- Be proactive, analytical, and able to problem-solve and propose resolutions
- Operate efficiently with a high degree of accuracy
- Proficiency with Microsoft Excel, Word (including mail merge) and Outlook
- Possess excellent verbal and written communication skills
- Proven ability to prioritize, multi-task and complete tasks within specified timelines
- Detail-oriented, organized and dependable
- Willingness and ability to quickly learn and understand processes and regulatory requirements of the firm’s various lines of business
- Excellent analytical skills
- High ethical standards
- Team player; ability to work well with different personalities
PREFERRED SKILLS:
- Certified Anti-Money Laundering Specialist (CAMS) or willingness to obtain within reasonable time period
- Working knowledge of trust accounting systems, IRAs and alternative assets
- Working knowledge of Bank Secrecy Act (BSA) requirements
- Experience filing suspicious activity reports (SARs) and reviewing for OFAC and CIP
- Prior work experience in a compliance role within the financial services industry
- IRA/IRS rules and regulations knowledge and experience
OTHER REQUIREMENTS:
- Infrequent travel; may need own transportation from time to time.
- Ability to work occasional overtime.
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