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

Ira Compliance Specialist

Apex Systems is seeking an IRA Compliance Specialist to join our 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

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.

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 Trust's 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 explain complex 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 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 throughout the Northern Trust 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

Communicate, evaluate and advise on the implementation of regulatory changes where required

Provide knowledge and training on IRA and ERISA topics, include IRC Section 4975 to ensure front line knowledge and compliance

Participate in special projects as needed and perform other duties as assigned to support the Trust Practice compliance and risk obligations

Coordinate required regulatory mailings related to IRAs, SPPs and ERISA

EEO Employer

Apex Systems is an equal opportunity employer. We do not discriminate or allow discrimination on the basis of race, color, religion, creed, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), age, sexual orientation, gender identity, national origin, ancestry, citizenship, genetic information, registered domestic partner status, marital status, disability, status as a crime victim, protected veteran status, political affiliation, union membership, or any other characteristic protected by law. Apex will consider qualified applicants with criminal histories in a manner consistent with the requirements of applicable law.