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Years of Experience
Date Last Verified
ProfileWealth Management Administration and Operations Director The candidate will serve as the senior expert for the tax, trust, administration and operations functions of the wealth management business lines of company and its subsidiaries. Be accountable for processes that provide for the sustainable growth of the wealth management business lines by: 1) reducing or eliminating risk and 2) promoting client and asset retention by improving the client experience. Accountable for the regulatory, audit, and compliance exam results of PCS. Respond to questions and/or resolve issues that arise during audits and quality checks. Identify and take appropriate action if performance issues are raised. Ensure compliance and risk management policies, procedures, and controls are documented, updated, and adhered to and provide guidance to professional staff toward that end. Coordinate processes to ensure timely and accurate processing of client financial transactions. Work with professional staff to identify fiduciary, legal, administrative, or investment risks prior to presenting information to decision making groups and committees; e.g. trust committee of the board of directors. Provide expertise, technical advice, and counsel on complex trust and fiduciary issues raised by professional staff regarding internal processes and specific client issues. Develop and maintain an expertise in personal trust, estate administration, and investment services to be a resource for colleagues in PCS for the company's integrated suite of wealth management services. Oversee initiative and program implementation by: 1) establishing appropriate context, 2) providing relevant information to set direction for discipline professionals, 3) developing goals, and 4) setting timelines. Support workflow improvements by identifying and recommending process improvement initiatives. Monitor and assess the technical knowledge and skills of wealth management professionals at the PCS corporate office and subsidiary banks to ensure the delivery of wealth management products and solutions meet customer and company expectations. Monitor the integrity of the trust file administration process to ensure it is maintained among the professionals who maintain trust services client files. In partnership with the PCS market leaders, monitors technical knowledge and skills of professionals involved in the file management process and identifies development needs. Partner with the PCS market leaders to identify training or knowledge gaps relating to technical knowledge and skills of professionals and supports training and development plans for new and existing PCS professionals. Support PCS relationship managers, as needed, by communicating effectively with high net worth clients and centers of influence regarding the administration of current client accounts and how additional products and services could meet the clients' wealth management objectives. Partner with other members of the PCS leadership team to develop budgets that accurately reflect the current and future financial performance of the department. Represent PCS in corporate-wide and/or subsidiary level initiatives to ensure the needs of the department's clients and staff are adequately considered when evaluating end results. Work with outside attorneys, co-trustees, accountants and other professionals to effectively administer trust accounts, in accordance with the terms of each account's governing document. Evaluate the need for new or additional departmental support and performs due diligence to evaluate new and existing third party relationships. Complete annual E-Learning Plan and Bank Secrecy Act (BSA) training as assigned and keeps up-to-date knowledge of BSA as it relates to the job function. Directly supervise 5-7 employees who support the operations and administration of the wealth management lines of business. Work with company's recruitment team to hire the most qualified and talented individuals to fill open positions. Provide information and on-going feedback to department staff regarding expectations and performance. Work with department staff on individual professional development. Prepare and conduct annual performance reviews. Complete and submit all forms associated with the review process to the department according to the review process deadline.
Qualification and Experience
The candidate should have a Bachelor's degree in Finance, Accounting, or business related field. Should also have a J.D. degree. Professional certifications and/or advanced degrees like CTFA, CPA, CFP preferred. Must have 15+ years of trust administration related experience with 10+ years of supervisory experience. Expert knowledge of financial services industry, trust and investment products, risk management, fiduciary guidelines and team selling is required. Extensive knowledge and technical proficiency related to wealth transfer strategies, legal issues and fiduciary and tax planning trends is needed. Significant technical expertise in the areas of fiduciary management, administrative requirements, financial planning and wealth transfer strategies is essential. Should have a broad perspective of economics and financial markets. Must have proficiency with state and federal laws and regulations impacting the administration of trusts and other investment services. Should have broad and diverse background of the financial service industry and expert knowledge of the banking and the personal wealth management business.
Ref. #: 17-0544