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Supports the Lead Relationship Managers (LRMs)for high net worth (HNW) wealth management team to manage and coordinate the daily administration of client investment and trust accounts. Generally responsible for initiating a range of account activity (including broad cash management), monitoring client records to ensure accuracy and compliance, and directly responding to client inquiries. Assist LRMs in preparing for client meetings, participating in client meetings, and in new business development efforts.
1. Coordinates the daily account administration for personal trust and investment management clients. Monitors situations to ensure prompt action.
2. Communicates information on aspects of a client relationship to other functional teams, to coordinate daily client activity, oversees transaction processing, handles inquiry resolution, and obtains appropriate documentation.
3. Maintains ongoing communication with clients and explores and identifies opportunities to provide improvements in processes or additional services. Participates in client meetings.
4. Responsible for account setup, overseeing of account distribution, documentation of both discretionary payments and client account reviews. Oversees preparation of client meeting presentation packages.
5. Documents services provided, specialized procedures, and ongoing written communications with client as appropriate in managing daily activity.
6. Maintains an understanding of relevant tax laws and legal requirements applicable to trust administration in order to assist in resolving client issues as they relate to the trust agreement.
7. Maintains an understanding of the investment process and the bank’s basic investment style and procedures. Relates these to each account situation and coordinates with portfolio managers as necessary.
8. Oversees assigned accounts with an understanding of both fiduciary concepts and individual client circumstances.
9. Assists relationship manager in the expansion of relationship base according to new business goals through additions to existing accounts, upgrades of current relationships, identification of cross-marketing opportunities, and participation in business development.
10. Develops and maintains a working knowledge of various business applications critical to trust administration.
Candidates should have excellent oral and written communication , organizational, and relationship skills. Ability to take ownership of detailed tasks and follow through to completion is critical. Candidate must be able to work independently and with teams, depending on the situation. A basic understanding of private client wealth management and the desire to learn more complex investment and financial planning services is key to success.
Candidates should have 3 years or more of experience in trust administration or private client wealth management. Strong analytical, and accounting skills are required to oversee client transactions, identify and resolve account issues and to ensure the accurate delivery and tracking of client services. Strong technical skills and attention to detail are needed. Interest in CFP or related advanced degrees a plus.
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