Trust Administration Officer II

TRUST ADMINISTRATION OFFICER II 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 instrument

Under general guidance from the trust team, opens and maintains estates, trusts, agency accounts and guardianships

Become familiar with the governing document to interpret terms, responsibilities and duties of the Bank

Receive guidance in understanding provisions of the documents and strategies associated with the assigned accounts

Develop and maintain relationships with clients to help execute day to day administrative functions

Maintain up-to-date knowledge of account activity by reviewing various reports

Seek guidance on tax and administration issues

What 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 accuracy

Prepare new account paperwork, as required

Analyze anticipated income to insure sufficient cash is maintained to meet beneficiary distributions, banks fees, trust bills, etc

Obtain missing documents from clients

For Trust accounts, initiate annual administrative review of accounts

Review files for completed forms, codes, review payments and transactions and for accuracy

Review forms to ensure they are consistent with the Trust Document

Produce and review various tax reports for clients and intermediaries

Research tax deficiency notices

Pay estimated taxes and allocates tax payments between principal and income, file returns, and maintains tax calendars

Communicate with Tax Vendor and external intermediaries

Gather 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-Fiduciaries

Complete discretionary distribution requests

Submit formal requests to the Trust Officer for approval

Coordinate 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 communications

Respond to advisors and intermediaries regarding the administration and maintenance of accounts

Fields phone calls from clients and intermediaries

Review documents and responses to compliance department, audit and OCC inquiries after research is performed by TA

Gather information from clients for projects

Prepare draft correspondence letters and memos

Maintain new account logs

Follow appropriate Regulation 9 process

Maintain all appropriate training and continuing education requirements for both internal programs and external licenses and certifications

Must-Have* Bachelor's Degree or equivalent 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 Skills and Knowledge 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 Compensation Starting base salary : $58,766 - $93,873 per year

Exact compensation may vary based on skills, experience, and location

This 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 classification

It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job

Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues

Get an inside look at our Benefits and Perks

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT City National Bank is an equal opportunity employer committed to diversity and inclusion

All 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 personal

Since day one we've always gone further than the competition to help our clients, colleagues and community flourish

City 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 today

City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies

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