Prairie Consulting Services
Compliance Specialist – IRA
Location: Chicago, IL – 3 days hybrid.
Employment type: C2C / W2.
Base pay range: $60.00/hr - $65.00/hr.
Responsibilities
Advise on IRA matters involving Wealth Management clients, oversee and direct all IRA requirements, educate front line partners on IRA topics, and test/audit compliance on behalf of the Practice and Legal and Compliance to ensure consistency and a prudent approach to IRA and ERISA matters.
Collaborate with Compliance, Legal, and Trust Practice to identify IRA and ERISA fiduciary regulatory requirements and risks, monitor compliance with standards and regulations, including 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 application across Wealth Management Trust Practice.
Act as the first point of contact for assistance with questions regarding IRA Risk Management and Compliance matters.
Act in a consultative role to leaders across the Wealth Management Trust Practice on IRA and ERISA‑related matters, including making recommendations for additional training.
Advise on development of metrics and reports to track and assess risks, assist in identifying compliance gaps, and support remediation efforts.
Keep abreast of industry trends, regulatory changes, and emerging risks to proactively identify potential threats and opportunities.
Collaborate with operational leaders to quickly identify and create effective and sustainable solutions for resolving fiduciary regulatory risk issues.
Coordinate required regulatory mailings related to IRAs, SPPs, and ERISA.
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.
Seniority level Mid‑Senior level
Employment type Contract
Job function Information Technology
Industries Banking, Financial Services, and Investment Banking
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Employment type: C2C / W2.
Base pay range: $60.00/hr - $65.00/hr.
Responsibilities
Advise on IRA matters involving Wealth Management clients, oversee and direct all IRA requirements, educate front line partners on IRA topics, and test/audit compliance on behalf of the Practice and Legal and Compliance to ensure consistency and a prudent approach to IRA and ERISA matters.
Collaborate with Compliance, Legal, and Trust Practice to identify IRA and ERISA fiduciary regulatory requirements and risks, monitor compliance with standards and regulations, including 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 application across Wealth Management Trust Practice.
Act as the first point of contact for assistance with questions regarding IRA Risk Management and Compliance matters.
Act in a consultative role to leaders across the Wealth Management Trust Practice on IRA and ERISA‑related matters, including making recommendations for additional training.
Advise on development of metrics and reports to track and assess risks, assist in identifying compliance gaps, and support remediation efforts.
Keep abreast of industry trends, regulatory changes, and emerging risks to proactively identify potential threats and opportunities.
Collaborate with operational leaders to quickly identify and create effective and sustainable solutions for resolving fiduciary regulatory risk issues.
Coordinate required regulatory mailings related to IRAs, SPPs, and ERISA.
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.
Seniority level Mid‑Senior level
Employment type Contract
Job function Information Technology
Industries Banking, Financial Services, and Investment Banking
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