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Fiduciary New Business Advisor

Fiduciary New Business Advisor

CibcChicago, IL, US
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CIBC Trust Administration Role

We're building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what's right for our clients.

At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

What You'll Be Doing

Reporting to the Director of Trust Administration, you will be responsible for the pre-acceptance review of new trust business where CIBC National Trust Company ("NTC") or CIBC Delaware Trust ("DTC") is being asked to serve as Trustee.

Work with Private Wealth Relationship Managers and Business Development Officers to review potential new trust business and determine whether NTC or DTC can accept a prospective new account.

Responsible for the timely pre-acceptance review of new trust business where NTC or DTC is being asked to serve as trustee. As part of this responsibility, you will :

  • Analyze the trust agreement, and related governing documentation, to determine risks and limitations with the trust agreement (and / or governing documentation) and to identify potential solutions and determine whether NTC or DTC can accept its appointment as trustee.
  • Review information related to the account, such as the trust account's assets and account activity, to identify issues and other information that may be pertinent to NTC or DTC's decision to accept its appointment as trustee.
  • Obtain and assess information about trust beneficiaries, fiduciaries and other interested parties.
  • Identify information and documentation that is necessary to open a potential account, including but not limited to account opening documentation, appointment paperwork and information related to BSA / AML obligations.
  • Determine how the account should be set up on the trust accounting system to allow for proper account administration.

Partner with Private Wealth colleagues to perform this pre-acceptance review and ultimately determine whether NTC or DTC can accept a prospective account. This includes, but is not limited to :

  • Working with the Unique Assets Team to assess unique asset properties held in trust accounts
  • Working with the Portfolio Oversight Team to assess existing assets and the appropriateness of potential investment programs
  • Working with Account Opening Team to determine account opening requirements
  • Working with the Trust Administration Team as it relates to account opening requirements and on-going trust administration responsibilities
  • Working with the Tax Department to obtain income tax returns and other pertinent documentation related to the account

    • Present new business opportunities to NTC or DTC's committee system for review and potential acceptance.

    Develop and maintain a strong partnership with Relationship Managers, Business Development Officers, Fiduciary colleagues and other members of Private Wealth.

    Work with external parties related to the trust account including but not limited to client's counsel, NTC or DTC counsel and interested parties to the prospective account, including account fiduciaries, beneficiaries or other interested parties.

    Develop new business-related policies, procedures, documentation, controls and other standards and best practices.

    Train and communicate new business requirements, processes and other related information to Private Wealth colleagues.

    Understand fundamental responsibilities of a regulated Bank Trust company, including but not limited to 12.C.F.R.9 and obligations under the Bank Secrecy Act.

    Who You Are

  • Bachelor's degree required, J.D. preferred
  • Successful completion of Securities Course and Estate and Trust Administration course
  • Estate & Trust industry experience required, 10+ years preferred
  • Experience working at a corporate trustee, preferred
  • Experience as a Trust Officer with familiarity with Trust Accounting systems, preferred
  • Developed people management skills
  • Well-developed communication skills sufficient to interact effectively with clients, professionals and small groups
  • Well-developed organizational skills, particularly the ability to prioritize
  • Exceptional writing skills sufficient to prepare correspondence containing detailed descriptions, explanations and specialized Estates & Trusts terminology
  • Values matter to you. You bring your real self to work and you live our values - trust, teamwork, and accountability.

    • What CIBC Offers

    At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.

  • We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program
  • , a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
  • Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
  • We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
  • Subject to plan and program terms and conditions

    • What You Need to Know

  • CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com .
  • You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
  • We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.

    • Job Location

    IL - 181 W Madison

    Employment Type

    Regular

    Weekly Hours

    40

    Skills

    Analytical Thinking, Communication, Customer Experience (CX), Estate Accounts, Group Problem Solving, People Management, Power of Attorney (POA), Trust Services, Work Collaboratively

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