Trust Officer

Trust Officer

This position supports RBC Delaware Trust by administering estate and personal trust accounts including testamentary and intervivos trusts, Charitable Trusts, Conservatorships, Guardianships, Life Insurance Trusts, Private Family Foundations, Special Needs Trusts, and other Agency accounts.

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, Financial Advisors, 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, fiduciary 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 reconciliations, 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

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.).

Perform a legal and administrative review of all potential new business.

Build strong relationships with key COI's and Financial Advisors.

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.

Follow appropriate Regulation 9 process.

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

Required Qualifications

Bachelor's Degree or equivalent

5 years of work experience in Trust Administration And

5 years of work experience utilizing Microsoft Office - specifically, Excel

Additional Qualifications

Bachelor's Degree or 8 years of experience in trust administration

Microsoft Office (Word, Excel & PowerPoint)

Completion of Trust Certificate and / or CTFA preferred

Strong oral 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 retain business

Familiarity with applicable Delaware law.

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.

What's In It For You?

Compensation Starting base salary : $101,231 - $172,355 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and / or commissions.

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 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

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.

• Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.