Trust Advisor

About the role

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.

Responsibilities

• 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.
• 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.).
• Maintain all appropriate training and continuing education requirements for both internal programs and external licenses and certifications.

Requirements

• Bachelor's Degree or equivalent
• 10+ years of experience in a financial or legal services organization
• 10 years of experience in trust administration
• 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
• 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
• 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?

• Compensation Starting base salary: $148,266 - $252,544 per year. Exact compensation may vary based on skills, experience, and location.
• This job is eligible for bonus and/or commissions.
• Benefits and Perks

About Us

Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.

Inclusion and Equal Opportunity Employment

City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law. It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.