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About the Role
This is an entry-level Personal Trust Officer position responsible for administering personal trust accounts. The role involves opening and maintaining accounts, interpreting trust instruments, and developing client relationships to execute administrative functions.
Responsibilities
- Reviews and revises paperwork for trusts where CNB is trustee.
- Prepares new account paperwork.
- Analyzes anticipated income to ensure sufficient cash for distributions, fees, and bills.
- Obtains missing documents from clients.
- Initiates annual administrative reviews of trust accounts.
- Produces and reviews tax reports for clients and intermediaries.
- Gathers data for account reconciliation and ensures distribution requirements are met.
- Completes discretionary distribution requests and submits them for approval.
- Coordinates setup, tracking, and monitoring of various asset types.
- Provides client service by responding to inquiries via phone, email, and written communications.
- Responds to advisors and intermediaries regarding account administration and maintenance.
- Fields phone calls from clients and intermediaries.
- Reviews documents and responses for the compliance department, audit, and OCC inquiries.
- Gathers information from clients for projects.
- Prepares draft correspondence letters and memos.
- Maintains new account logs.
- Follows appropriate Regulation 9 process.
- Maintains all appropriate training and continuing education requirements.
Requirements
- Minimum 4 years of experience in Personal Trust required.
- Minimum 4 years of experience in a financial services organization required.
- Minimum 4 years of administrative/clerical experience required.
- Bachelor’s Degree.
- J.D. Degree a plus.
- Up to three years’ experience in trust administration preferred.
- Strong written and verbal communications skills.
- Ability to gather, arrange, compile, interpret, analyze, summarize and evaluate information and data to identify opportunities and formulate conclusions and recommended actions.
- Ability to set priorities, and objectives.
- Demonstrate excellent working knowledge of trust administration.
- Colleague is ideally working towards Trust Certificate and/or CTFA.
Skills
- Trust administration
- Written communication
- Verbal communication
- Information analysis
- Objective setting
- Client service
Location
- City National location
Work Type
- Full-time
Experience Level
- Entry level
- 4 years of experience in Personal Trust
- 4 years of experience in a financial services organization
- 4 years of administrative/clerical experience
- Up to three years’ experience in trust administration preferred
Education Level
- Bachelor's Degree
- J.D. Degree
Salary/Compensations
- $65,296 - $104,304 per year
- Eligible for bonus and/or commissions
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.