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About the Role

Provides asset management services for Specialty Wealth Assets (Commercial and Residential Real Estate, LLC–LP-Closely Held Entities, Mineral/Oil/Gas Interests), held in fiduciary accounts on the Wealth Management platform of CNB and RBC. Functions as an asset and investment manager, including providing oversight of property operations and managing transactions and asset level projects, while completing all asset level regulatory/reporting requirements. Supports the relationship team by providing asset level expertise and coordinating communication with colleagues, clients, tenants, managers/general partners/officers, and 3rd party service providers. Considers investment objectives, account circumstances, investment performance, concentration issues, and profitability from a fiduciary perspective. Partners with client facing colleagues in proactive client service/communication and sales activities.

Responsibilities

Provides asset management services for assigned Specialty Wealth assets held in fiduciary accounts within investment guidelines and the regulatory framework.
Manages portfolio while mitigating risk and following established company and department policies, procedures, and best practices.
Completes all regulatory and internal requirements associated with the assets in their portfolio, such as annual reviews, inspections, valuations, document retention, and audit inquiries.
Oversees operations at the asset level, including asset performance, income collection, expense payment, and 3rd party repair/maintenance activities.
Recommends and implements strategies for Specialty Wealth assets that incorporate client’s investment objective, account size, asset mix, liquidity, and account circumstance.
Facilitates transactions and projects of Specialty Wealth assets, including acquisitions, dispositions, exchanges, leases, and capital expenditures.
Works closely with the relationship team, clients, managers/general partners/officers, operations services, attorneys, brokers, appraisers, and other industry and relationship managers.
Coordinates/communicates specialty wealth asset activities with assigned Trust Officers and other relationship managers.
Participates in meetings and presentations that promote product and service awareness.
Maintains a “Satisfactory” internal and external audit review.
Complies with policies to identify and resolve environmental issues and ADA compliance issues.
Provides guidance to asset officers/administration officers and facilitates learning opportunities by sharing knowledge and experience.

Requirements

7 years of property/asset management (residential/commercial) experience necessary.
7 years of experience in analyzing appropriate industry investments, including operating statements, market data and its sources, offering memorandums/offerings, and relevant 3rd party reports.
Strong attention to detail and customer service orientation.
Proven communication, analytical, negotiating and sales skills, coupled with computer literacy.
Proven ability to work in a multi-task environment with oversight.
Works effectively within a team as well as individually.
Fiduciary Experience a plus.

Skills

Property/asset management
Analyzing operating statements
Analyzing market data
Analyzing offering memorandums/offerings
Analyzing relevant 3rd party reports
Customer service
Communication
Analytical skills
Negotiating skills
Sales skills
Computer literacy
Multi-tasking
Teamwork
Individual work

Location

City National location

Work Type

Full-time

Experience Level

Senior

Education Level

Professional Credentials such as CPM, CCIM or other relevant and recognized industry backed designations preferred.

Salary/Compensations

$92,114 - $156,880 per year

Benefits

Comprehensive healthcare coverage, including Medical, Dental and Vision plans
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
Colleague Resource Groups

About the Company

City National Bank was founded in 1954 by entrepreneurs for entrepreneurs.
City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.

Equal Opportunity

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.