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About the Role

Administer estate and personal trust accounts, including various trust types and agency accounts. Perform initial legal and trust administration review of potential new business and partner with business development colleagues to ensure relationships align with the bank's risk appetite.

Responsibilities

• Administer and interpret fiduciary accounts according to laws, regulations, and governing documents.
• Interact with and guide Real Property Managers, CPAs, Trust Counsel, Portfolio Managers, Bankers, and Investment Advisors.
• Oversee annual administrative review of Trust accounts, checking files for accuracy and compliance.
• Analyze anticipated income to ensure sufficient cash for distributions, fees, and bills.
• Obtain missing documents from clients.
• Produce and review gain/loss reports, research tax deficiencies, estimate taxes, and allocate payments.
• Communicate with Tax Vendors and external accountants.
• Gather data for account reconciliations, ensure charitable trust distribution requirements are met, compute unit-trust distribution amounts, and review fee agreements.
• Submit pertinent facts to the Trust Administration Committee for decisions requiring fiduciary discretion.
• Develop investment strategies with relevant colleagues.
• Oversee distribution of client assets upon account termination.
• Respond to clients, advisors, and intermediaries regarding account administration.
• Maintain commitment to Bank programs like CustomerFirst, CRA, and EEO.
• Comply with all Bank Operational and Wealth Management policies, procedures, and regulatory requirements.
• Perform legal and administrative review of potential new business.
• Gather necessary information and documentation from colleagues for new opportunities, assessing risks and issues.
• Build strong relationships with key COIs, Bankers, and Financial Advisors.
• Expand trust brand and market share by working with external advisors and attorneys.
• Set expectations with internal and external partners regarding timing and progress of new opportunities.
• Serve as an escalation point for problem resolution.
• Manage risk to ensure relationships are within the bank's risk appetite.
• Provide regular tracking of new business activities.
• Meet with existing income beneficiaries and remaindermen to profile clients and ensure retention of distributing trusts.
• Follow appropriate Regulation 9 process.
• Maintain required training and continuing education for internal programs and external licenses/certifications.

Requirements

• Bachelor's Degree or equivalent
• 8 years of experience in a financial or legal services organization
• 8 years of experience in trust administration
• Bachelor's Degree
• 10 years of experience in trust administration
• Microsoft Office (Word, Excel & PowerPoint)
• JD, LLM or other legal designation/degree preferred
• Completion of Trust Certificate and/or CTFA preferred

Work Type

• Onsite

Experience Level

• 8 years
• 10 years

Education Level

• Bachelor's Degree
• JD, LLM or other legal designation/degree preferred
• Completion of Trust Certificate and/or CTFA preferred

Salary/Compensations

• $122,548 - $208,711 per year

Benefits

• Comprehensive healthcare coverage (Medical, Dental, Vision)
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and internal training
• Valued Time Away benefits (vacation, sick, volunteer time)
• Specialized health and family planning benefits (fertility, cancer, diabetes, musculoskeletal support)
• Career Mobility support
• Colleague Resource Groups

About the Company

• City National Bank was founded in 1954 by entrepreneurs for entrepreneurs.
• The legacy of integrity, community, and unparalleled client relationships continues today.
• City National is a subsidiary of Royal Bank of Canada, a leading diversified financial services company.

Equal Opportunity

• City National Bank fosters an inclusive environment where all forms of diversity are valued.
• 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.