TRUST ADVISORWHAT IS THE OPPORTUNITY?
Focus is to avail COIs, bank clients, and prospects of CNB/RBC fiduciary solutions; current trust administration, investment management, and planning opportunities in estate and personal trust accounts (testamentary and intervivos trusts), Charitable Trusts, Conservatorships, Guardianships, Life Insurance Trusts, Private Family Foundations, Special Needs Trusts, and other Agency accounts. Perform initial legal and trust administration review of all potential new trust or investment business. Partner with Business Development colleagues (Banker, Financial Advisor, Portfolio Manager, etc.) to ensure proposed new relationships are within CNB's risk appetite and can be managed without issue.
WHAT WILL YOU DO?
- Perform a legal and administrative review of all potential new business.
- Meet sales goals around sales expectation.
- Work with Bankers, Portfolio Managers, and Financial Consultant colleagues to gather the necessary information and documentation to ensure we understand the risk and other issues associated with new opportunity (e.g., agreements, fee schedules, transfer directions, receipt of assets, reporting correct cost basis and tax acquisition dates, missing form and signatures, etc.).
- Build strong relationships with key COI's, Bankers, and Financial Advisors.
- Work with external advisors and attorneys to expand trust's brand and garner larger market share within region.
- Set proper expectations with all internal and external partners around timing and progress of new opportunity.
- Serve as a point of escalation for problem resolution.
- Manage risk to ensure all relationships are within CNB's risk appetite.
- Provide regular tracking for review of new business activities.
- Meet regularly with existing income beneficiaries and remaindermen to profile clients and eventual retention of distributing trusts.
- Administer and interpret fiduciary accounts in accordance with applicable laws and regulations and the stipulations of governing documents, local law or Court Order under which authority is conferred.
- Interact with and provide guidance to Real Property Managers, CPAs and Trust Counsel, Portfolio Managers, Bankers, Investment Advisors, and other bank colleagues.
- Oversee annual administrative review of Trust accounts. Check files for correct forms, codes, review payments and transactions for accuracy. Review Trust Document to ensure documents are in compliance.
- Analyze anticipated income to insure sufficient cash is maintained to meet beneficiary distributions, banks fees, trust bills, etc.
- Obtain missing documents from clients.
- Produce and review gain/loss reports for clients and intermediaries. Research tax deficiency notices. Estimate taxes and allocate tax payments between principal and income, and maintain tax calendars. Communicate with Tax Vendor and external accountants.
- Gather data for account reconciliation's, ensuring distribution requirements are met for charitable trusts, compute distribution amounts for unit-trust accounts and review fee agreements between the Bank, clients, and Co-Fiduciaries.
- Gather/submit pertinent facts to the Trust Administration Committee regarding situations requiring the use of fiduciary discretion as appropriate. Review and submit proposals for consideration, direction and approval.
- Work with appropriate colleagues to develop investment strategies.
- Oversee distribution of client's assets upon termination of accounts.
- Respond to clients, advisors, and intermediaries regarding the administration and maintenance of accounts
- Maintain a proactive commitment to established Bank programs, such as CustomerFirst, Community Reinvestment Act (CRA) and Equal Employment Opportunity.
- Comply fully with all Bank Operational and Wealth Management policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).
- Follow appropriate Regulation 9 process.
- Maintain all appropriate training and continuing education requirements for both internal programs and external licenses and certifications.
WHAT DO YOU NEED TO SUCCEED?
Required Qualifications*- Bachelor's Degree or equivalent
- 10+ years of experience in a financial or legal services organization
- 10 years of experience in trust administration
Additional Qualifications- 12 years of experience in trust administration
- 12 years of experience in a financial or legal services organization
- Strong verbal and written communication skills are required.
- Specifically, excellent interpersonal skills with the ability to interact effectively with all levels of CNB personnel, clients and outside contacts
- The ability to profile clients with an emphasis on retaining business
- Familiarity with state tax laws, income taxation with respect to trust investment management principles, California and/or Nevada probate code
- Demonstrated strategic team player
- Strong organizational skills
- Anticipate needs and proactively seek solutions
- The ability to work on multiple tasks/projects simultaneously is crucial in this position
- Must be PC literate and be familiar with trust accounting systems
- Microsoft Office (Word, Excel & PowerPoint)
- JD, LLM or other legal designation/degree preferred
- Completion of Trust Certificate and/or CTFA preferred
WHAT'S IN IT FOR YOU?CompensationStarting base salary: $134,788- $229,586 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and PerksAt City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:
- Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
- Generous 401(k) company matching contribution
- Career Development through Tuition Reimbursement and other internal upskilling and training resources
- Valued Time Away benefits including vacation, sick and volunteer time
- Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
- Career Mobility support from a dedicated recruitment team
- Colleague Resource Groups to support networking and community engagement
Get a more detailed look at our Benefits and Perks.
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