Fiduciary Officer Senior Job Listing at City National Bank in Wilmington, DE (Job ID 10381)

Description

FIDUCIARY OFFICER SENIOR - Hybrid Schedule, Wilmington, DE. WHAT IS THE OPPORTUNITY? This position is responsible for supporting the functions of the Trust and Estate Division in administration, account acceptance, and risk management. Assists in providing direction and guidance on trust administration activities; serves as subject matter expert and key resource to Personal Trust staff. Collaborates with Trust Officers and Trust Advisors in situations where trust accounts are in potential or actual litigation. Participates in business development activities; reviews and recommends modifications as appropriate for the acceptance or rejection of potential personal trust accounts. Confers with Regional Trust Managers, the Chief Fiduciary Officer, administrators, attorneys and other key partners regarding accounts. Responsibilities include gathering and organizing governing instruments and asset information for timely review of new trust business opportunities as well as, preparation of various documents in connection with account acceptance, declination, administration, and termination. Duties also include networking with Clients of Interest ("COIs") in the community via Bar Associations, ACTEC, and Estate Planning Councils. The role involves working with and cultivating a strong partnership with local market leaders, business development officers, and other professional across the firm to win new appointments and provide an unmatched client experience. The position will assist the Chief Fiduciary Officer in supporting projects and initiatives of the CFO, and/or Head of Trust and Estate Services as the usual course of business dictates. What you will do

• Conduct preliminary reviews of revocable and irrevocable trusts, wills, durable powers of attorney, health care powers of attorney, charitable trusts, GRATs, QPRTs, Family Limited Partnership and LLC agreements, and other estate planning documents for estates with wide-ranging values.
• Review and recommends modifications as appropriate for the acceptance or rejection of potential new personal trust accounts to the Head of Trust and Estate Services or Manager Regional Delaware Trust.
• Analyze trust instruments to determine Bank's duties/responsibilities and risk, and if applicable, provide recommendation on mitigation of said risk
• Gather and organize trust instruments and any amendments or restatements, as well as other governing instruments in connection with review of prospective opportunities.
• Gather and organize asset information for prospective trusts, including but not limited to financial statements, partnership and operating agreements, tax returns, appraisal information, account statements, etc.
• Participate in analyzing sophisticated estate and wealth transfer planning, trusts, probate estates, closely-held business matters and other related instruments and transactions.
• Provide comments and draft recommendations, research, and other support to CFO, internal team members, prospects, and clients.
• Prepare diagrams of trust dispositive provisions for internal use and in support of prospect and client meetings.
• Prepare various agreements including Consents to Act, Account Declinations, Agreements for Waiver of Accounting and Release of Trustee, Resignations of Trustee, and other documents as recommended by Head of Trust and Estate Services, CFO and Manager Regional Delaware Trust.
• Communicate with colleagues, prospective and existing clients and their advisors, and other parties as appropriate.
• Help to develop personal trust business by maintaining professional and community contacts, and involvement.
• Maintain pipeline of prospective trust opportunities
• In conjunction with Manager Regional Delaware Trust, the Senior Fiduciary Officer may confer with clients, administrators, co-trustees, beneficiaries and attorneys regarding the establishment, administration and operation of a trust
• Participate in analyzing discretionary distribution requests and provide comments and draft recommendations, research, and other support as requested.
• In cooperation with the CFO, monitor, communicate, and respond to trust administrative matters as needed.
• Stay abreast of new developments pertaining to trust regulations, market strategies and competitive positioning.
• Field phone calls from COI's, prospects, clients, and their other advisors.
• Attend client meetings as requested by Manager Regional Delaware Trust related to risk or potential litigation issues
• Participate in semiannual asset concentration reviews and follow up regarding risk mitigation plans. Log and maintain asset retention agreements.
• Assist with refining process for annual suitability review of life insurance policies held in ILITs.
• Lead or assist projects and initiatives as set by Head of Trust and Estate Services, CFO or Manager Regional Delaware Trust.
• Maintain all appropriate training and continuing education requirements for both internal programs and external licenses and certifications.
• In coordination with the CFO, modify and develop trust policy as appropriate or required.
• Perform additional activities as assigned by Head of Trust and Estate Services, CFO or the Manager Regional Delaware Trust.

Must-Have*

• Bachelor's Degree or equivalent
• Minimum 5 years of experience in a financial services organization, law firm, or legal department required.
• Minimum 5 years of administrative or wealth planning experience required.

Skills and Knowledge

• J.D. Degree preferred
• Working knowledge of estates and trusts law, trust administration, tax, and wealth planning required.
• Direct experience as a Trust Advisor, Trust Administrator, or Wealth Planner/Strategist preferred.
• Strong fiduciary knowledge with ability to manage fiduciary risks effectively and ensure adherence to trust policy.
• Strong written and verbal communication skills.
• Naturally collaborative with the ability to gather, arrange, compile, interpret, analyze, summarize and evaluate information to identify opportunities, as well as risks, and formulate conclusions and recommended actions.
• Ability to manage time effectively and set priorities and objectives.

Compensation Starting base salary: $122,535 - $208,715 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks. ABOUT CITY NATIONAL
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.

*City National Bank does business in Miami and the state of Florida as CN Bank.

For more information about City National, visit cnb.com. EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATION
City National Bank is an equal opportunity employer committed to promoting and maintaining a diverse, equitable and inclusive working environment where differences are valued and encouraged. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by the laws or regulations in the locations where we operate or in our Code of Conduct. READ MORE

If you are a qualified individual with a disability or a disabled veteran, you have the right to request a reasonable accommodation for any part of the employment process. Please contact us via email or leave a message at (213) 673-9139. These contact methods are dedicated to applicants whose disability prevents them from successfully applying online. Only messages left for this purpose will be returned. Responses may take up to two business days.

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