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Vice President, PTC Compliance

Job ID: R-002046 Date posted: 01/12/2018 Primary Location OH-Cleveland

The Company

The Private Trust Company (PTC), an affiliate of LPL Financial LLC, is a growing, fast-paced, entrepreneurial business 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. 

The Opportunity

Are you looking for a place to apply your leadership, communication organization skills in the context of a fast-paced trust/compliance organization?   PTC is looking to add a dynamic compliance leader to its compliance team that will drive and enhance the compliance culture.  This team member will have significant responsibility managing the overall compliance risk and oversight of our investment advisors and trust officers as well as executing and enforcing the procedures to mitigate risk.  This individual will actively participate in a various number of trust and risk management committees to proactively monitor and improve the overall compliance efforts of The Private Trust Company.  The successful candidate will report to the Compliance, Risk, and Legal department at LPL Financial and liaise with various leaders of The Private Trust Company and LPL Financial, LLC.

Individual duties will include:

  • Developing and maintaining policies and procedures and the overall design and maintenance of PTC’s Compliance Program.
  • Oversight of the Investment Advisors who manage the investment portfolios on behalf of PTC
  • Member of the Trust Investment Committee Reg 9 review process
  • Chairperson of the Risk Management Committee
  • Liaise with Chief Anti Money Laundering Officer and the Financial Crimes team on compliance related matters involving the PTC trust and IRA product lines of business e.g., policies and procedures, periodic AML risk reviews; potentially suspicious transaction escalations and related filings, and coordinating AML issues and awareness with other PTC personnel.
  • Responsible for the Vendor Management reviews, vendor contracts, and ongoing oversight of our vendors, while liaising with LPL Vendor Management, Legal dept. and business unit owners of the vendor relationship.  
  • Oversees PTC’s risk testing and assessments, establish proper processes and controls, supports the business to protect against regulatory and legal
  • Provide regular interaction and primary support during external regulatory exams, internal and external audits ensuring that all information is gathered in an organized and accurate fashion and delivered in a timely fashion, including preparation for audits, resolution of audit findings, and providing ongoing materials to PTC’s Audit Committee
  • Work with PTC Administrative Officers and/or LPL Advisors to track, investigate, resolve, and quantify for interpretation and reporting, all potential regulatory concerns and/or issues
  • Assisting with special projects and reporting requirements as needed

This individual will also participate in periodic meetings and strategic discussions with the Senior Management of The Private Trust Company.

Education & Experience

The candidate must have a minimum of a Bachelor’s degree, preferably in Accounting or Finance.   JD, CPA, MBA or other similar designations are a plus.  Additionally the candidate must possess more than 8-10 years of experience in the financial services industry with specific knowledge in compliance as it relates to trust and estate planning, BSA/Anti-Money Laundering rules, OCC, FINRA and SEC regulations.

Additionally, the following are critical general skills which the candidate must possess: 

  • Critical Thinking Skills
  • Excellent Process Management Skills
  • Excellent Project Management Skills
  • Excellent Team Leaderships Skills
  • Excellent oral and written communication skills that are adaptable to the audience
  • Strong Conflict resolution skills
  • Risk Management Process Design and Implementation
  • Strong ability to listen actively and attentively.
  • Interpersonal skills – relates well to people at all levels; builds appropriate rapport; uses diplomacy and tact.
  • Strong analytical / problem solving skills.

    We offer a competitive salary and benefits package. Please login or create an account to apply to this position at ____________ or go to our parent company’s website at Principals only. EOE

Our Company:

LPL Financial, the nation’s largest independent broker/dealer since 1996* and the fourth largest broker/dealer overall, serves as an enabling partner to more than 14,000 independent financial advisors and approximately 700 financial institutions. Since its formation decades ago, LPL has focused on one primary mission -- enabling independent financial advisors to bring objective and un-biased financial advice to millions of Americans. 

Headquartered in Boston, San Diego, and Fort Mill, and powered by more than 3,300 client-centric employees, LPL is financially strong and growing.

Our Culture:

If you join LPL, you will join a culture that believes in delivering a world-class client experience and looks to all employees to contribute to that goal by sharing their creativity, experience, and passion for continuous improvement. As a destination of choice, our top priorities are growth and development, social responsibility, and financial health for our employees. 

We offer competitive compensation and industry leading benefits, including a wellness facility with onsite fitness classes, healthy meal choices, and a walk-in clinic. We support employee financial health through a 401k match, ESPP, and employee discounts. Work/life balance is our foundation and is supported through paid holidays, and paid time off (including time to volunteer). We foster a diverse work environment through Employee Resource Groups and diverse strategic partnerships.  

Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please login or create an account to apply to this position. Principals only. EOE

*As reported by Financial Planning magazine, June 1996-2017, based on total revenue.

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