Job Description
Overall Functions
This person is responsible for supervising personal trust and investment officer staff in the fiduciary wealth management department. The candidate will serve as client relationship manager and administer a book of trust and investment accounts in accordance with the terms of the governing instruments and state and federal laws. This person will develop trust and investment prospects as well as focus on the retention of existing business for the bank and Wealth Management Services (WMS). Working in conjunction with the SVP/Manager of WMS, the Senior Advisor will provide leadership and act as a mentor to other Officers as it pertains to trust and estate administration, financial and estate planning, provide changes to fiduciary law and engage in sales coaching.
Responsibilities
- Lead the team and develop an atmosphere of teamwork, open communication and unity. Provide oversight of all services offered. Actively mentor staff and ensure they are trained, evaluated, and motivated to perform their responsibilities in an effective and progressive manner.
- Provide leadership, mentoring and coaching for other officers in the areas of trust and estate planning, estate settlement, and conservatorships. Keep abreast of legislation and regulatory developments to maintain technical skills and substantive knowledge necessary to render effective account administration and the support of other officers.
- Communicate and coordinate with the Wealth Management Market Manager on the sales of relationships for fiduciary trust, investment management and financial planning services.
- Review and interpret governing instruments and documents to determine terms, responsibilities, and duties of the corporate trustee in order to administer a book of accounts in accordance within the legal terms of regulations and departmental policies / procedures. Monitor daily activity with reference to investments, tax, and personal objectives.
- Maintain contact with clients, beneficiaries, and organizations regarding account performance, financial planning, tax and estate planning, and other issues to ensure the client’s personal financial goals are being met, the beneficiary’s needs are being addressed, current clients are retained, and wallet share is deepened through financial planning services in order to grow trust additions and retain legacy accounts with the next generation.
- Resolve problems and inquiries from grantors, principals, beneficiaries, and others. Handle requests for distributions or planning and approving necessary expenditures for care and maintenance.
- Actively lead the sales and development of trust, investment management, financial planning, or other banking prospects within the bank charter area. Initiate contacts for developing and closing new personal trust, investment agency, financial planning and custodial business. Deepen wallet share to grow investments and sell other bank products to current clients and their contacts.
- Cultivate and maintain relationships with numerous sources of new business referrals, including bank officers and staff, company officials, COIs, attorneys, accountants, financial and wealth planning professionals, social contacts and community involvement. Interact with peers in the industry and COIs to maintain knowledge of new products and services and to keep abreast of competition.
- Adhere to compliance procedures and participate in required compliance training.
- Act in accordance with FBT policies and procedures as set forth in the employee handbook.
Job Requirements
This person will have a bachelor’s degree plus a minimum of five years of prior wealth management, trust administration, fiduciary investment management, business management, law/tax practice experience, fiduciary investment sales supervision or the equivalent. This person will have strong communication skills to enable effective communication and interaction with fellow staff, clients, and the general public. A Juris Doctorate, CPA or CFP, as well as previous fiduciary supervision experience, is preferred but not required. It is required that this person complete advanced training as a Certified Trust and Financial Analyst or Certified Wealth Strategist. This person will possess an understanding of laws and regulations governing the administration of trust and estate accounts.