Marc Iovine is the Compliance Officer of Nixon Peabody Trust Company. He is responsible for the development, implementation, and administration of all aspects of the Trust Company’s compliance program. This includes preparing the Trust Company for all financial statement and internal control audits as well as examinations conducted by the Maine Bureau of Financial Institutions. Marc collaborates directly with the Chief Executive Officer, Trust Committee, and Board of Directors for the overall management of Nixon Peabody Trust Company. Additionally, Marc serves as a Trust Relationship Manager in the Operations Group providing outsourcing solutions to other law firms and assisting these firms track their client’s trusts held across other banks and brokers though shadow accounting. Marc came from State Street Bank & Trust where he served as a Business Analyst Officer and worked for 11 years obtaining a broad base of knowledge in the custodial banking industry and regulations governing such organizations and their clients.
I focus on ensuring Nixon Peabody Trust Company maintains its record of zero violations by upholding and sustaining the high level of internal controls.
In response to ever-evolving and changing fraud schemes, I expect regulators at the state, national, and global levels to be increasing their oversight and reporting requirements for trust companies.