Trust Administration Officer I

TRUST ADMINISTRATION OFFICER I WHAT IS THE OPPORTUNITY? This is an entry level Personal Trust Officer position, responsible for administering personal trust accounts such as testamentary/intervivos trusts, foundations and agency accounts in accordance with terms specified in the trust instrumentUnder general guidance from the trust team, opens and maintains estates, trusts, agency accounts and guardianshipsBecome familiar with the governing document to interpret terms, responsibilities and duties of the BankReceive guidance in understanding provisions of the documents and strategies associated with the assigned accountsDevelop and maintain relationships with clients to help execute day to day administrative functionsMaintain up-to-date knowledge of account activity by reviewing various reportsSeek guidance on tax and administration issuesWhat you will do For Trusts where CNB is trustee, reviews and revises paperwork from sales team (e.g., agreements, fee schedules, transfer proxies, receipt of assets, ensure accurate cost basis and tax acquisition dates, obtain any missing information and signatures, etc.)Make corrections and additions to ensure accuracyPrepare new account paperwork, as requiredAnalyze anticipated income to insure sufficient cash is maintained to meet beneficiary distributions, banks fees, trust bills, etcObtain missing documents from clientsFor Trust accounts, initiate annual administrative review of accountsReview files for completed forms, codes, review payments and transactions and for accuracyReview forms to ensure they are consistent with the Trust DocumentProduce and review various tax reports for clients and intermediariesResearch tax deficiency noticesPay estimated taxes and allocates tax payments between principal and income, file returns, and maintains tax calendarsCommunicate with Tax Vendor and external intermediariesGather data for account reconciliation, ensuring distribution requirements are met for charitable trusts, computes distribution amounts for uni-trust accounts and reviews fee agreements between the bank, clients, and Co-FiduciariesComplete discretionary distribution requestsSubmit formal requests to the Trust Officer for approvalCoordinate set up, tracking, and monitoring of personal property inventory; real estate, mineral, oil and gas, intellectual properties, and special financial assets(i.e., notes, loans, partnerships, etc.) Provide client service by responding and researching client and colleague inquires by phone, email, and written communicationsRespond to advisors and intermediaries regarding the administration and maintenance of accountsFields phone calls from clients and intermediariesReview documents and responses to compliance department, audit and OCC inquiries after research is performed by TAGather information from clients for projectsPrepare draft correspondence letters and memosMaintain new account logsFollow appropriate Regulation 9 processMaintain all appropriate training and continuing education requirements for both internal programs and external licenses and certificationsMust-Have Bachelor's Degree or equivalent Minimum 3 years of experience in Personal Trust required Minimum 3 years of experience in a financial services organization required Minimum 3 years of administrative/clerical experience required Skills and Knowledge J.DDegree a plusUp to three years' experience in trust administration preferredStrong written and verbal communications skillsAbility to gather, arrange, compile, interpret, analyze, summarize and evaluate information and data to identify opportunities and formulate conclusions and recommended actionsAbility to set priorities, and objectivesDemonstrate excellent working knowledge of trust administrationColleague is ideally working towards Trust Certificate and/or CTFA Compensation Starting base salary: $48,559 - $77,559 per yearExact compensation may vary based on skills, experience, and locationThis job is eligible for bonus and/or commissions To be considered for this position you must meet at least these basic qualifications The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classificationIt is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this jobBenefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleaguesGet an inside look at our Benefits and PerksINCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT City National Bank is an equal opportunity employer committed to diversity and inclusionAll qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.' ABOUT CITY NATIONAL We start with a basic premise: Business is personalSince day one we've always gone further than the competition to help our clients, colleagues and community flourishCity National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth todayCity National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companiesLI-DN1 #CA-DN1

Created: 2024-11-07