Oakworth Capital Bank has an excellent opportunity for someone to join our team as a Wealth Compliance Officer! The Wealth Compliance Officer will play a vital role in supporting our current & future clients. This is a fulltime role that would ideally be in Birmingham, Alabama. An ideal candidate would meet the qualifications listed below, and more importantly, be able to demonstrate that they live by Oakworth Core Values (Golden Rule, Character, Innovative Spirit, Professionalism, Work Ethic).
Summary:
This role is responsible for all regulatory compliance (SEC, FDIC, State) related functions within wealth management.
Key Roles/Responsibilities:
- Lead RIA and Wealth Fiduciary compliance programs collaborating with internal teams and outsourced compliance consultant. Ensure Board of Directors, Audit Committee, the various Wealth Committees, and company leadership have adequate communication to ensure appropriate oversight and knowledge of organization’s compliance with existing rules, regulations, and guidance, specifically related to wealth management.
- Ensure adequate training for Wealth Management Associates regarding all wealth compliance and relevant bank (fiduciary) regulatory compliance across organization.
- Ensure adequate and appropriate policies and procedures are in place and meet regulatory requirements (including FDICIA) at all times.
- Develop and execute risk-based, regulatory-compliant monitoring/testing plan to ensure policies/procedures are being adhered to.
- Monitor current and upcoming developments in regulatory compliance areas of responsibility and ensure changes are reflected in policies, procedures, and the wealth compliance plan as appropriate.
Responsibility Details:
- Will assume primary responsibility for designing, implementing, and ensuring the compliance program complies with Advisory (SEC), Federal (FDIC) and State regulation and rules. Consistently apply sound review and recommendation techniques as they relate to policies, procedures, and regulations.
- Conduct monthly, quarterly, and annual compliance reviews and filings for RIA and fiduciary accounts.
- Conduct compliance review of wealth-specific marketing materials and client communications as appropriate.
- Provide education and training to associates, and work in tandem with senior leadership, outside counsel and compliance consultants to foster a culture of compliance.
- Follow the compliance plan to ensure required items are completed on time.
- Coordinate and supervise both internal and external audits, including regulatory examinations.
- Work collaboratively with others on the creation and revision of disclosures, policies, and/or procedures.
- Consult on complex corporate initiatives to ensure wealth compliance business needs, ideas and perspectives are being considered.
- Provide advisory and strategic leadership, including guidance on evolving best practices while remaining apprised of regulatory developments. Adjust compliance policies and practices accordingly.
- Meet with Wealth Management leadership on a regular basis to communicate findings, areas of improvement and ways of implementing new regulatory changes.
- Work collaboratively with the Wealth Business Services Team – strategy, operations, and client service in establishment and support of our wealth operating approach.
- Supervise appropriate wealth associate securities transactions.
- Responsible for safeguarding all company and client information by maintaining confidentiality and upholding information security standards. Must also be knowledgeable of company policies around information security and confidentiality, as well as participate in all trainings required on a periodic basis.
Qualifications and Skills:
- Bachelor's degree or higher
- Five or more years working in investment compliance or risk management required
- Series 65 qualification (preferred or must obtain within 90 days)
- Detail-oriented, accurate and organized
- Team-focused (collaborative, works well with others, supports team goals)
- Excellent communication skills – verbal, written, listening
- Knowledgeable of Advisory (SEC Investment Advisor's Act of 1940) and banking regulations (FDIC and State)
- Strong organizational skills including adapting priorities and meeting deadlines
Oakworth has been recognized as a Best Bank to Work For by American Banker Magazine for the last eight years, with six of those holding the top spot & ranking #2 in 2024. To learn more about our story and what makes Oakworth unique, visit https://www.oakworth.com/.
If you are interested in this excellent opportunity, please send your resume to brooke.kline@oakworth.com.
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