ERISA Compliance Officer

About the position

This role will focus on the Northern Trust's compliance with the Employee Retirement Income Security Act of 1974, as amended ("ERISA") and the parallel provisions under the Internal Revenue Code of 1986, as amended (the "Code") with respect to Northern Trust's business. The position involves working with the ERISA Attorney and various internal business units to develop and maintain a comprehensive compliance program, ensuring adherence to regulatory requirements and promoting a positive compliance culture.

Responsibilities

• Effectively works with ERISA Attorney and internal business units, risk management and compliance functions to develop, enhance, administer, and maintain a comprehensive ERISA/prohibited transaction compliance program.
• Supports ERISA Attorney in developing training and awareness programs regarding ERISA/prohibited transaction issues.
• Oversees monitoring and testing program to confirm ERISA-related compliance.
• Investigates and assists ERISA Attorney with corrections of identified issues, irregularities, and violations.
• Confirms and oversees recordkeeping that demonstrates compliance with ERISA and the Code.
• Promotes a positive compliance culture through communication and oversight of regulatory responsibilities.
• Develops strong working relationships with applicable business units.
• Interacts effectively and respectfully with partners and external parties.
• Assists in responding to regulatory inquiries, examinations, and subpoenas.
• Stays up-to-date on applicable regulatory developments affecting financial institutions.

Requirements

• 7+ years experience developing and maintaining compliance program within a financial institution.
• Knowledge of ERISA/prohibited transaction rules.
• Experience reviewing and analyzing data for compliance testing.
• Experience interacting with regulators and auditors and leading regulatory exams.
• Self-starter, able to work independently and as part of a team.
• Exceptional written, verbal, and interpersonal skills.
• Bachelor's degree required; advanced degree or JD preferred.
• Experience working at the Department of Labor or Internal Revenue Service is a plus.

Benefits

• Comprehensive benefits package including retirement benefits (401k and pension).
• Health and welfare benefits (medical, dental, vision, spending accounts, and disability).
• Paid time off, parental and caregiver leave.
• Life & accident insurance, and other voluntary and well-being benefits.
• Discretionary bonus program that may include an equity component.