Job Description Summary
Responsible for fiduciary and client relationship management of individual Wealth Management accounts, including those where the Bank serves as Trustee, Executor or Agent and accounts under various forms of agreement, including agency, foundation, charitable, revocable, and irrevocable trust accounts. Has responsibility for proactive client service, account growth, client retention, risk management, and overall administration of assigned book of business.
Essential Job Functions
- Administers assigned accounts in accordance with the terms specified in the trust agreement.
- Resolves problems with assigned accounts as well as assisting others in account administration.
- Ensures assigned accounts are in compliance with bank audit and security standards, policies and procedures. Actively participates in the resolution of audit findings in a timely manner.
- May manage personal trust accounts of special significance according to instructions of principals, donors and descendants by fulfilling requests for distributions, answering questions, providing tax information, setting investment objectives and acting as probate administrator.
- Maintains contacts with customers to discuss and advise on problems, explain terms and specifications of the will and/or trust, and to arrange for payments acceptable under the terms of the trust.
- Sets up estates, trusts, agency accounts and guardianships as assigned.
- Provides consulting advice to clients and/or companies concerning the design and administration of pension and/or profit sharing plans or the administration of complex personal trusts.
- Assist in the development, installation, and administration of each plan, providing such services as disbursing payments to employees or retirees included in the plans. May make recommendations to the managing director as to the suitability of documents.
Other Job Duties
- Recommends to the Regional Trust Administration Committee the appropriate course of action on non-routine matters for their own accounts. Reviews matters of other officers at the request of manager prior to committee submission.
- Actively participates in the development of new business from existing or prospective customers and cross-selling opportunities within the Bank.
- Establishes work schedules and priorities to ensure that workflow is controlled.
- Assists the managing director in filling vacant positions through recruiting and involvement in the in the interview process.
- May act as a lead for employees performing similar duties and have direct responsibility for training same.
- Manages assigned accounts of key importance or of a complex nature in accordance with the terms specified in the governing instruments, and maintains proactive client servicing and communication relative to the account administration.
- Consults with clients on a periodic basis to review the client’s financial and estate planning goals and objectives. Researches and recommends appropriate courses of action on non-routine fiduciary matters to senior management and/ or applicable governing Committees.
- Participates in the development of new business with existing or prospective clients and participates in the overall Wealth Management sales process with other team partners.
- Maintains a continuous study of wealth management industry developments, including those related tocomplex estate and fiduciary planning, charitable planning, and tax planning
- Ensures all day-to-day activities within the Global Investment and Fiduciary Solutions group are in accordance with Bank of the West policies, procedures, and ethics, as well as, external regulations and laws.
- Participates in local community and business functions/ groups to cultivate a positive professional image for Wealth Management and the Bank (e.g. Bar Associations, Regional Estate or other wealth and fiduciary related groups
- Requires mastery level knowledge of job area typically obtained through advanced education combined withexperience.
- May have deep knowledge of project management.
- Requires 10 years minimum prior relevant experience.
- Bachelor's Degree Finance, Economics, a related field
- CFP, CTFA or JD preferred
Field of Experience
- Complete knowledge of estates, trusts, agency accounts, and charitable accounts including legal, regulatory, financial and tax issues.
- Understanding of financial planning concepts, including trust/estate planning, tax planning, investments, and insurance
- - Understanding of fiduciary risks and complex fiduciary issues
- Analytical and research
- Organizational skills
- Bank product and service knowledge
- Negotiation skills
- Presentation skills
- Works well in a team environment
- Strong written and verbal communication
- Use of personal computer, familiarity with relevant industry technology
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.