DIRECTOR, TRUST BUSINESS DEVELOPMENT
WHAT IS THE OPPORTUNITY?
Decision over estate and personal trust accounts including testamentary and intervivos trusts, Charitable Trusts, Conservatorships, Guardianships, Life Insurance Trusts, Private Family Foundations, Special Needs Trusts, and other Agency accounts. Perform initial legal and trust administration review of all potential new trust or investment business. Partner with Business Development colleagues (Senior Investment Consultant, Portfolio Manager, etc.) and CNB trust fiduciary partners to ensure proposed new relationships are within CNB's risk appetite and can be managed without issue
Wealth Management Division: City National Rochdale
As a member of City National Rochdale, the company's Wealth Management group, you will provide white-glove service focused on intelligently personalized portfolio management for high-net-worth individuals, families, and institutions. For 30 years, City National Rochdale has helped clients achieve their goals, operating as a nimble, responsive, local boutique investment firm.
WHAT WILL YOU DO?
- Participate in legal and administrative review of all potential new business.
- Work with Senior Investment Consultants, Portfolio Managers, and CNB trust fiduciary partners to gather the necessary information and documentation to ensure we understand the risk and other issues associated with new opportunity (e.g., agreements, fee schedules, transfer directions, receipt of assets, reporting correct cost basis and tax acquisition dates, missing form and signatures, etc.).
- Build strong relationships with SICs and Financial Advisors.
- Set proper expectations with all internal and external partners around timing and progress of new opportunity.
- Serve as a point of escalation for problem resolution.
- Participate in managing risk in collaboration with CNB trust fiduciary partner to ensure all relationships are within CNB's risk appetite.
- Provide regular tracking for review of new business activities.
- Participate in interpreting fiduciary accounts in accordance with applicable laws and regulations and the stipulations of governing documents, local law or Court Order under which authority is conferred.
- Interact with and provide guidance to Portfolio Managers, SICs, and Financial Advisors
- Obtain missing documents from financial advisors.
- Gather/submit pertinent facts to the CNB Fiduciary trust partner regarding situations requiring the use of fiduciary discretion as appropriate. Review and submit proposals for consideration, direction and approval.
- Work with appropriate colleagues to develop investment strategies.
- Respond to SICs, PMs, clients and financial advisors regarding the administration and maintenance of accounts.
- Comply fully with all CNR and Bank Operational and Wealth Management policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).
- Follow appropriate Regulation 9 processes
- Maintain all appropriate training and continuing education requirements for both internal programs and external licenses and certifications.
WHAT DO YOU NEED TO SUCCEED
- Bachelor's Degree
- JD (Juris Doctor) or CTFA Or
- At least 5 years of experience in Trust business development
- At least 10 years of experience in financial services overall
- 10+ years of experience in a financial or legal services organization
- Will be expected to study for and complete CPWA registrationWill be expected to study for and complete CPWA registration
Skills and Knowledge
- Strong oral and written communication skills are required.
- Specifically, excellent interpersonal skills with the ability to interact effectively with all levels of CNB personnel, clients and outside contacts
- The ability to profile clients with an emphasis on retaining business
- Familiarity with state tax laws, income taxation with respect to trust investment management principles
- Demonstrated strategic team player
- Strong organizational skills
- Anticipate needs and proactively seek solutions
- The ability to work on multiple tasks/projects simultaneously is crucial in this position
- Must be PC literate and be familiar with trust accounting systems
- Microsoft Office (Word, Excel & PowerPoint)
*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.
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.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled
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