Compliance Specialist - IRA and Prohibited Transactions (Non-IT)

Apex Systems • Chicago, IL • 1h ago

This job was posted by https://illinoisjoblink.illinois.gov : For more information, please see: https://illinoisjoblink.illinois.gov/jobs/13096658

Job Description:

large financial services client headquartered in Chicago, IL!**

Please Note: Candidates can sit in any of the following locations:*

Boston, MA

Stamford, CT

New York City, NY

Wilmington, DE

Washington, DC

Atlanta, GA

Sarasota, FL

Naples, FL

Miami, FL

West Palm Beach, FL

Ft. Meyers, FL

Jacksonville, FL

Palm Beach, FL

Boca Raton, FL

Bonita Spring, FL

Coral Gables, FL

Delray Beach, FL

Lakewood Ranch, FL

Saint Petersburg, FL

Stuart, FL

Tampa, FL

Vero Beach, FL

Dallas, TX

Ft. Worth, TX

Austin, TX

Newport Beach, CA

Santa Barbara, CA

Mill Valley, CA

Century City, CA

Pasadena, CA

San Diego, CA

Las Vegas, NV

Phoenix, AZ

Scottsdale, AZ

Tucson, AZ

Tempe, AZ

Milwaukee, WI

Minneapolis, MN

Chicago, IL

Cleveland, OH

Grand Rapids, MI

Seattle, WA

Denver, CO

Philadelphia, PA

Oak Brook, IL

Pay:\$55-\$70/hr. dependent upon experience level

Duration:3-month initial contract with potential to extend and/or convert to perm role

Start Date:December 1, 2025

Job Description:

The QPAM project focuses on ensuring continued compliance with Department of Labor regulations for discretionary investment management of IRAs and ERISA accounts, following the transition from a class exemption to an individual QPAM exemption. The initiative involves updating controls, client notifications, fee schedules, and audit processes to meet enhanced requirementsincluding mandatory disclosures, independent audits, and strengthened oversightwhile preparing for upcoming regulatory examinations and maintaining operational integrity.

Contractors Role:

The Compliance Specialist IRA is key member of the Trust Management first line of defense compliance team, which is responsible for ensuring compliance with all risk, audit, regulatory and other issues by the practice and front line, with a focus on IRA matters. Responsibilities of this role include advising on IRA matters involving Wealth Management clients, oversight and direction for all IRA requirements, education of front line partners on IRA topics, testing/auditing compliance on behalf of the Practice and Legal and Compliance to ensure consistency and prudence in Northern Trusts approach to IRA and ERISA matters. The Compliance Specialist IRA will work as an individual contributor in a team environment.

Qualifications (Must Haves):

IRA and Section 4975 fiduciary subject matter expertise in a financial services company @context, including knowledge and understanding of Prohibited Transactions; knowledge of ERISA

Knowledge of IRA and employee benefits laws, Internal Revenue Code and regulations, compliance, and resolution programs

Excellent knowledge of industry regulations, trends, and requirements related to IRAs, including reporting procedures and record keeping

General fiduciary Risk Management and Compliance knowledge a plus

Excellent analytic, written and verbal skills, with the ability to clearly and concisely present complex information to a diverse range of individuals

Ability to create and maintain strong internal partnerships, to work independently and as part of a team, and to efficiently and effectively problem solve

Well-organized with special attention to detail

Strong organizational skills, a collaborative approach to work, with strong interpersonal skills

Ability to identify problems, develop and communicate solutions

Excellent communication skills (both written and oral) to interact and manage expectations with senior level audiences, stakeholders and management

A strong and proven ability to analyze, break down and explaincomplex issues in non-technical language

Highly flexible and adaptable to change, with a positive attitude and vision to continually enhance / strengthen current status quo

Tasks & Responsibilities:

Advise and collaborate with Compliance, Legal, and Trust Practice to identify IRA and ERISA fiduciary regulatory requirements and risks, and monitor compliance with standards and regulations, including the application of prohibited transaction exemptions under IRC Section 4975.

Draft, modify, implement, and communicate IRA and ERISA Risk Management and Compliance procedures and related materials for

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