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Years of Experience
Date Last Verified
ProfilePersonal Trust Administrator, Vice President The candidate will be responsible for the trust administration of the largest, most complex, portfolio trust accounts. Accounts are drawn from any one or more of the following categories: probate, guardianships,living and testamentary trusts, investment advisory and custody accounts, escrows and employee benefit trusts. Responsibilities include managing all accounts in accordance with applicable legal requirements and securing Bank and external professional services as appropriate to fulfill the special needs of trust clients. Responsible for maximizing the profitability of existing accounts by communicating the benefits of Bank Trust services to clients, prospects and professional advisors. Responsible for expanding the portfolio with new clients acquisitions. Proactively identify the needs of the prospects and sells appropriate products and services. Follows up on customer contacts and closes the sale of products. Promote business development through personal contacts in the professional community. Attempt to upgrade account relationships and encourage additions to existing accounts where appropriate. Develops and implements marketing plan. Accounts assigned are considered riskier and more profitable accounts. Responsible for managing all of the administrative and fiduciary functions of the Bank in each of the accounts assigned. The nature of these account responsibilities will vary according to the type and complexity of the account. Responsible for securing the following specialized services on behalf of the account: Securities portfolio management; Real Estate portfolio management; General accounting services; Tax accounting and returns; Paying, receiving and safekeeping; General banking services; Special financial reports as required by law. In addition, the coordination and provision of outside professional services may also be the position's responsibility. These include: Legal counsel; Tax/financial planning and CPA services; Real property appraisal; Personal crisis/medical consultation; Retirement plan record keeping. Special asset appraisal, management and disposition (including: closely-held businesses, natural resource producing property, agricultural land, collectible personal property, limited partnerships and tax shelters). Responsible for providing quality service to each account in the positions book of accounts through a thorough knowledge of the personality of each account. This includes maintaining on-going relationships with clients, beneficiaries, trustors and related professionals connected with those accounts. Administers all accounts according to applicable laws, regulations and policies and in accordance with trust documents to carry out the intent of the trust. Regularly reviews all of the financial transactions in each account, and to review, monitor and ratify all cash payments and fee charges. Responsible for being aware of areas, which may represent potential liability to the Bank, making specific recommendations to the Trust Manager. Includes actively following pending litigation or areas of potential liability involving accounts administered by other Trust Administrators providing guidance and support as needed. Contact and correspond with beneficiaries/principals and other interested individuals involved in the assigned accounts pursuant to guidelines established. Resolve any problem of beneficiaries/principals of routine, assigned accounts, which are sometimes of sensitive nature. Act as investment portfolio manager for accounts invested solely in Common Trust Funds and determine investment diversification based upon investment policies and customer objectives. Assist or draft performance reviews of subordinate staff members for supervisor's review. Make decisions on maintenance or termination of unprofitable or marginally profitable accounts Work closely with supervisor to improve productivity and develop the ability to administer more complex accounts. Receive discretionary distribution requests from beneficiaries of irrevocable trusts and product documentation for submission to Discretionary Sub-Committee. Prepare required reports or information as requested by supervisor or management. Maintain communication with trust beneficiaries, providing such personal services as are needed and appropriate. Maintain current knowledge of trust laws, principles and regulations in general, and with regard to the specific nature of the accounts in the position's book of accounts. Reviews, ratifies and monitors the execution of investment, real estate management and other service decisions made by portfolio, real estate and other Bank officers or outside consultants, as appropriate to each account. Develop and maintain a familiarity with the Bank's economic and investment strategies.
Qualification and Experience
The candidate should have 8+ years of trust administration experience. Must have advanced knowledge of trust computer systems and its capabilities. Should have advanced knowledge concerning trust administration, investments, real estate, cash management vehicles, Common Trust Funds, mutual funds, probate code, closely held corporations, partnerships, insurance, annuities, and tax laws as they apply to individuals and fiduciaries. Must have ability to read and interpret complex trust instruments, and make decisions based upon knowledge and research. Should have understanding the liabilities associated with the bank acting as a fiduciary for individuals or entities. Must have computer skills including, word processing, spread sheet applications, and database management. Typically requires demonstrated Trust administration experience and the demonstrated ability to apply this specific knowledge in the administration of complex accounts. Also requires demonstrated knowledge of the principles of trust and estates, related taxation and financial planning practices and other specialized services applicable to the successful administration of a variety of accounts. Must be able to perceive and present the need of each account and to take responsibility for meeting those needs. Requires having at least one of the following: JD (Juris Doctor) CRSP (Certified Retirement Service Professional); CTCP (Certified Trust Compliance professional); CFSA (Certified Financial Service Auditor); AEP (Accredited Estate Planner); CSIP (Certified IRA Services Professional); CTFA (Certified Trust and Financial Advisor); CFP (Certified Financial Planner).
MUFG Union Bank, N.A
9460 Wilshire Boulevard
Beverly Hills, CA 90212