Trust Officer

Trust Officer

ILX Trust is a start-up passive trust company wholly owned subsidiary of IRALOGIX, a modern financial technology company transforming the nearly $20 trillion IRA market with cloud-based, fully digital IRA solutions for America's financial institutions. By modernizing how IRA accounts are managed and delivered, we expand access to retirement saving while helping our client-partners grow and compete. At IRALOGIX and its wholly owned companies, we're proud that our employees are part of a collaborative, fast-growing organization where ideas are valued and ownership is encouraged. We invest in sophisticated, next-gen technology, clear processes, and strong partnerships so our teams can do their best work and see the real-world impact of what they create. And we're committed to building a workplace that supports learning, innovation, and long-term career development, allowing employees to grow alongside the company.

Role

As a TRUST OFFICER, you will serve as a fiduciary and regulatory subject matter expert responsible for overseeing the administration, compliance, and governance of IRA trust and custodial operations at IRALOGIX's Trust Company. This role ensures that all retirement account services are delivered in accordance with IRS regulations, ERISA requirements, Department of Labor guidelines, state trust laws, and applicable federal and state banking regulations. The Trust Officer works cross-functionally with Product, Engineering, Legal, Compliance, and Client Success teams to embed regulatory requirements into IRALOGIX's digital IRA platform, support financial institution partners with trust and fiduciary matters, and serve as a key resource for regulatory examinations and audits. This person will report directly to the President of the Trust Company.

Responsibilities

The essential responsibilities and duties for this position include, but are not limited to, the following:

• Trust Administration & Fiduciary Oversight
• Oversee the administration of IRA trust and custodial accounts, ensuring compliance with all fiduciary obligations and regulatory requirements
• As a start-up, new processes and practices will need to be put into place using project management skills
• Ensure proper handling of IRA contributions, distributions, rollovers, transfers, conversions, recharacterizations, and required minimum distributions (RMDs)
• Review and approve complex or non-standard IRA transactions, including inherited IRA distributions, qualified charitable distributions (QCDs), and prohibited transaction reviews
• Managing a demand deposit account utilized by the Trust Company
• Ensuring daily reconciliation of trust accounts
• Monitor account administration processes to ensure adherence to IRS contribution limits, eligibility rules, and beneficiary designation requirements
• Oversee escheatment and abandoned property processes for retirement accounts in compliance with state unclaimed property laws
• Serve as the fiduciary decision-maker on matters requiring trust officer authority or discretion
• Regulatory Compliance & Risk Management
• Ensure compliance with IRS regulations governing IRAs (IRC Sections 408, 408A, 402, 401), including Traditional, Roth, SEP, and SIMPLE IRA requirements
• Monitor and interpret regulatory changes from the IRS, Department of Labor, SEC, FINRA, state regulators, and banking authorities that impact IRA operations
• Develop, maintain, and enforce trust policies and procedures that govern IRA account administration
• Support regulatory examinations, audits, and inquiries from federal and state regulators
• Conduct periodic compliance reviews and risk assessments of trust and custodial operations
• Collaborate with Legal and Compliance to assess regulatory risk, respond to enforcement actions, and implement corrective measures
• Manage the IRA plan document, custodial agreement, and disclosure statement review and update process
• Tax Reporting & IRS Compliance
• Oversee IRA tax reporting processes, including Forms 5498, 1099-R, 990-T, and related IRS filings
• Ensure timely and accurate fair market value (FMV) reporting for all IRA assets
• Monitor withholding requirements and ensure proper federal and state tax withholding on IRA distributions
• Coordinate with Finance and Operations on year-end reporting, IRS corrections, and late contribution processing
• Stay current on IRS guidance, revenue rulings, and private letter rulings affecting IRA administration
• Partner & Client Support
• Serve as the trust and regulatory subject matter expert for IRALOGIX's financial institution partners, advising on IRA compliance questions, operational best practices, and regulatory changes
• Support Client Success and Sales teams with partner onboarding, due diligence responses, and trust-related inquiries
• Develop and deliver regulatory training and educational content for partners and internal teams
• Assist in the resolution of escalated client and partner issues related to IRA administration, regulatory interpretation, or fiduciary matters
• Product & Technology Collaboration
• Partner with Product and Engineering teams to ensure the IRALOGIX platform incorporates current regulatory requirements, IRS rules, and trust administration best practices
• Review and validate product features, workflows, and business rules related to IRA account opening, transactions, distributions, and reporting
• Provide regulatory input on new product development, including support for emerging IRA types, alternative assets, or regulatory changes (e.g., SECURE Act 2.0 implementation)
• Contribute to the design of automated compliance controls, exception handling workflows, and audit trail capabilities within the platform

Requirements

710+ years of experience in trust administration, IRA operations, retirement plan compliance, or fiduciary services

Deep knowledge of IRS regulations governing IRAs (IRC Sections 408, 408A, 402, 401), including Traditional, Roth, SEP, SIMPLE, and Inherited IRA rules

Strong understanding of federal and state trust and banking regulations, fiduciary responsibilities, and compliance frameworks

Experience developing and maintaining trust policies, procedures, and compliance programs

Proven ability to interpret complex regulations and translate them into actionable operational guidance and platform requirements

Excellent analytical, communication, and problem-solving skills with the ability to advise both technical and non-technical stakeholders

Experience working cross-functionally with product, engineering, legal, and operations teams

Bachelor's degree in Finance, Business Administration, Accounting, or related field; JD or advanced degree a plus

Desired Skills and Experience

The essential skills and experience for this position include, but are not limited to, the following:

• Demonstrated communications, collaboration and leadership skills are essential
• Direct experience with IRA custodial or trust administration at a bank, trust company, custodian, or retirement services provider
• Working knowledge of SECURE Act 2.0, SETTING Every Community Up for Retirement Enhancement Act provisions, and their operational implications
• Experience with IRA tax reporting (Forms 5498, 1099-R, 990-T)
• Familiarity with fintech or digital-first retirement platforms
• Experience supporting regulatory examinations (OCC, FDIC, state banking regulators)
• CISP (Certified IRA Services Professional) or CTFA (Certified Trust and Fiduciary Advisor) designation

IRALOGIX is an equal opportunity employer committed to building a team that embraces diversity, represents a variety of backgrounds, and upholds inclusiveness. M/F/V/D