Are you a team player? Are you curious to learn? Are you interested in working in meaningful projects? Do you want to work with cutting-edge technology? Are you interested in being part of a team that is working to transform and do things differently? If so, LPL Financial is the place for you!
Excited to learn more? If so, then this could be the role for you!
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader* in the markets we serve, supporting more than 18,000 financial advisors, 800 institution-based investment programs and 450 independent RIA firms nationwide. We are steadfast in our commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor. At LPL, independence means that advisors have the freedom they deserve to choose the business model, services, and technology resources that allow them to run their perfect practice. And they have the freedom to manage their client relationships, because they know their clients best. Simply put, we take care of our advisors, so they can take care of their clients.
AVP, Retirement Trust Operations Officer
The Private Trust Company
The Retirement Trust Operations Officer will be part of our innovative, entrepreneurial, high-performing team helping advisors be highly competitive in the industry and poised to help them grow by delivering independent financial advice. PTC has a corporate value of creating a more client-centric culture and this role is pivotal to driving that agenda forward by facilitating our capabilities in providing advice through ERISA retirement plans.
This role will be responsible for designing the operational model to launch a new line of business, then implementing that operating model through to execution to the company’s advisory, brokerage, custodian and recordkeeping business for retirement plans and retirement accounts. The role will involve frequent interaction with the business teams that support the firm’s retirement business, including operations, compliance, marketing, and platform development.
- Advising and designing procedures and controls to mitigate risks and impacts of new and changing regulations affecting the retirement business of a trustee, custodian and record keeper, in particular, rules under ERISA and the Internal Revenue Code
- Drafting and implementing policies and procedures to operationally comply with compliance and regulatory issues affecting the company as a trustee and service provider to retirement plans and IRAs, including in particular including advising on applicable prohibited transaction and other ERISA testing.
- Coordinating implementation of new systems with recordkeepers, sub-custodians and other vendors to support omnibus recordkeeping, sub-transfer agency relationships and reporting.
- Developing appropriate oversight and monitoring of third party vendors including dashboards and KPIs.
- Work collaboratively with various business units within the company to draft account agreements, disclosure documents, communications and other forms for use with retirement plan clients
- Aid in drafting risk assessments and other documentation to submit to banking examiners for regulatory approval for a new line of business
- After product launch, shift to executing and onboarding retirement plan clients to the platform, and providing ongoing and operational excellence for daily operations oversight
What are we looking for?
We want strong collaborators who can deliver a world-class client experience. We are looking for people who thrive in a fast-paced environment, are client-focused, team oriented, and are able to execute in a way that encourages creativity and continuous improvement.
- Bachelor's degree
- 7-10 years of experience in trust operations role in the trust and investment management industry.
- Significant expertise with ERISA, DOL and the Internal Revenue Code, experience relating to the retirement plans, omnibus recordkeeping and related services
- Very detail oriented and exceptionally organized
- Strong verbal and written communication skills to articulate risk and operational processes to senior management and banking examiners
- Ability to work in a fast paced, complex environment and maintain own deadlines
- Savvy with technology software including trust accounting systems
Why LPL and PTC?
The Private Trust Company (PTC), an affiliate of LPL Financial LLC, is a growing, fast-paced, entrepreneurial business headquartered in Cleveland, Ohio, that assists families in transferring, protecting, preserving and managing wealth to future generations, charities and communities. PTC is a national trust company with a unique business model that focuses on an open architecture investment management style, recognizing that clients are best served with a team of professionals with whom we will work. We offer clients the sophistication of our experienced trust officers, combined with a high level of customer service. As a limited purpose national bank, PTC is examined by the Office of the Comptroller of the Currency, a division of the US Treasury.
Actual base salary varies based on factors, including but not limited to, relevant skill, prior experience, education, base salary of internal peers, demonstrated performance, and geographic location. Additionally, LPL Total Rewards package is highly competitive, designed to support your success at work, at home, and at play – such as 401K matching, health benefits, employee stock options, paid time off, volunteer time off, and more. Your recruiter will be happy to discuss all that LPL has to offer!
At LPL, we believe that objective financial guidance is a fundamental need for everyone. As the nation’s leading independent broker-dealer, we offer an integrated platform of proprietary technology, brokerage, and investment advisor services. We provide you with a work environment that encourages your creativity and growth, a leadership team that is supportive and responsive, and the opportunity to create a career that has no limits, only amazing potential.
We are one team on one mission. We take care of our advisors, so they can take care of their clients.
Because our company is not too big and not too small, you can seize the opportunity to make a real impact. We are committed to supporting workplace equality, and we embrace the different perspectives and backgrounds of our employees.We also care for our communities, and we encourage our employees to do the same. This creates an environment in which you can do your best work.
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Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please log in or create an account to apply to this position. Principals only. EOE.
Information on Interviews:
LPL will only communicate with a job applicant directly from an @lplfinancial.com email address and will never conduct an interview online or in a chatroom forum. During an interview, LPL will not request any form of payment from the applicant, or information regarding an applicant’s bank or credit card. Should you have any questions regarding the application process, please contact LPL’s Human Resources Solutions Center at (800) 877-7210.