Trust Administration Officer II

City National Bank; New York (NY); On-site; USD 72,000 - 115,000; Full time

Benefits offered by this job

Healthcare coverage

401(k) matching

Tuition reimbursement

Vacation and sick time

Family planning benefits

Job summary

City National Bank in New York seeks a Trust Administration Officer II to manage personal trust accounts, including testamentary and agency accounts, under guidance from the trust team. You will open and maintain estates and guardianships and interpret governing documents to ensure accurate administration.

Role focuses on client relationships, account activity reviews, and tax/administration issue guidance, with opportunities for professional development and compliance adherence.

Qualifications

• Bachelor’s degree or equivalent.
• 3 years of experience in financial services.
• 3 years of basic computer experience (Word, Excel, Outlook).
• 3 years of experience in trust administration preferred.
• Strong written and verbal communications skills.
• Ability to gather, arrange, compile, interpret, analyze, summarize and evaluate information.
• Ability to set priorities and objectives.
• Trust Certificate and/or CTFA a plus.

Responsibilities

• Review and revise paperwork for trusts where CNB is trustee, ensure accuracy.
• Prepare new account paperwork as required.
• Analyze anticipated income to ensure cash is available for distributions and expenses.
• Obtain missing documents from clients.
• Initiate annual administrative review of trust accounts and verify forms against documents.
• Prepare and review tax reports; research deficiencies; manage tax payments and calendars.
• Gather data for account reconciliation and verify distribution requirements.
• Process discretionary distribution requests for approval.
• Coordinate setup and monitoring of personal property, real estate, and other assets.
• Provide client service by responding to inquiries via phone, email, or mail.
• Respond to advisors on administration and maintenance of accounts.
• Handle incoming calls from clients and intermediaries.
• Review documents for compliance, audits, and OCC inquiries after TA research.
• Gather information from clients for projects.
• Prepare draft letters and memos.
• Maintain new account logs.
• Follow Regulation 9 processes.
• Maintain training and continuing education requirements.

Skills

Strong written and verbal communicatio

Data gathering and analysis

Education

Bachelor’s degree or equivalent

Tools

Microsoft Word

Excel

Outlook

Job description

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 WILL YOU 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.

WHAT DO YOU NEED TO SUCCEED?

Required Qualifications*

• Bachelor’s Degree or equivalent
• 3 years of experience in financial services required
• 3 years of basic computer experience (e.g. Microsoft Word, Excel, Outlook) required

Additional Qualifications

• 3 years of 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
• Trust Certificate and/or CTFA a plus

WHAT’S IN IT FOR YOU?

Compensation
Starting base salary: $71,825 – $114,734 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

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 including:

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.

ABOUT US

Since day one we’ve always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.

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