City National Bank

Provides banking, investment, and trust services

Trust Officer

Wealth Management & Financial AdvisoryConfirmed live in the last 24 hours

Full-timeNew York, NY, USA

About the Job

Requirements

A bachelor's degree or equivalent is required.
At least 8 years of experience in a financial or legal services organization is required.
At least 8 years of experience in trust administration is required.
Microsoft Office proficiency in Word, Excel, and PowerPoint is an additional qualification.
A bachelor's degree, 10 years of trust administration experience, a JD, LLM, or other legal designation/degree, and completion of a Trust Certificate and/or CTFA are listed as additional qualifications or preferences.

Responsibilities

Administer estate and personal trust accounts, including testamentary and inter vivos trusts, charitable trusts, conservatorships, guardianships, life insurance trusts, private family foundations, special needs trusts, and other agency accounts.
Perform initial legal and trust administration reviews of potential new trust or investment business, and partner with business development colleagues to ensure proposed relationships fit the bank's risk appetite and can be managed appropriately.
Administer and interpret fiduciary accounts in accordance with applicable laws and regulations, governing documents, local law, and court orders.
Interact with and provide guidance to real property managers, CPAs, trust counsel, portfolio managers, bankers, investment advisors, and other bank colleagues.
Oversee annual administrative reviews of trust accounts; check files for correct forms and codes; review payments and transactions for accuracy; and ensure trust documents comply with requirements.
Analyze anticipated income to ensure sufficient cash is maintained for beneficiary distributions, bank fees, trust bills, and other obligations.
Obtain missing documents from clients.
Produce and review gain/loss reports for clients and intermediaries; research tax deficiency notices; estimate taxes; allocate tax payments between principal and income; maintain tax calendars; and communicate with tax vendors and external accountants.
Gather data for account reconciliations; ensure charitable trust distribution requirements are met; compute distribution amounts for unit-trust accounts; and review fee agreements among the bank, clients, and co-fiduciaries.
Gather and submit pertinent facts to the Trust Administration Committee regarding situations requiring fiduciary discretion, and review and submit proposals for consideration, direction, and approval.
Work with appropriate colleagues to develop investment strategies.
Oversee distribution of client assets upon termination of accounts.
Respond to clients, advisors, and intermediaries regarding account administration and maintenance.
Maintain commitment to established bank programs, including CustomerFirst, the Community Reinvestment Act, and Equal Employment Opportunity.
Comply with bank operational and wealth management policies and procedures and regulatory requirements, including the Bank Secrecy Act, Know Your Client, Community Reinvestment Act, fair lending practices, and Code of Conduct.
Perform legal and administrative reviews of potential new business.
Work with bankers, portfolio managers, and financial consultant colleagues to gather information and documentation to assess risks and other issues associated with new opportunities, including agreements, fee schedules, transfer directions, receipt of assets, cost basis and tax acquisition dates, and missing forms or signatures.
Build relationships with key centers of influence, bankers, and financial advisors.
Work with external advisors and attorneys to expand the trust brand and increase regional market share.
Set expectations with internal and external partners regarding the timing and progress of new opportunities.
Serve as a point of escalation for problem resolution.
Manage risk to ensure relationships remain within the bank's risk appetite.
Provide regular tracking for review of new business activities.
Meet regularly with existing income beneficiaries and remaindermen to profile clients and support retention of distributing trusts.
Follow the appropriate Regulation 9 process.
Maintain required internal training and continuing education for external licenses and certifications.

Desired Qualifications

A JD, LLM, or other legal designation/degree is preferred.
Completion of a Trust Certificate and/or CTFA is preferred.

TRUST OFFICER

WHAT IS THE OPPORTUNITY?

Administer 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 (Banker, Financial Advisor, Portfolio Manager, etc.) to ensure proposed new relationships are within CNB's risk appetite and can be managed without issue

WHAT WILL YOU DO?

Administer and interpret 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 Real Property Managers, CPAs and Trust Counsel, Portfolio Managers, Bankers, Investment Advisors, and other bank colleagues.
Oversee annual administrative review of Trust accounts. Check files for correct forms, codes, review payments and transactions for accuracy. Review Trust Document to ensure documents are in compliance.
Analyze anticipated income to insure sufficient cash is maintained to meet beneficiary distributions, banks fees, trust bills, etc.
Obtain missing documents from clients.
Produce and review gain/loss reports for clients and intermediaries. Research tax deficiency notices. Estimate taxes and allocate tax payments between principal and income, and maintain tax calendars. Communicate with Tax Vendor and external accountants.
Gather data for account reconciliation's, ensuring distribution requirements are met for charitable trusts, compute distribution amounts for unit-trust accounts and review fee agreements between the Bank, clients, and Co-Fiduciaries.
Gather/submit pertinent facts to the Trust Administration Committee 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.
Oversee distribution of client’s assets upon termination of accounts.
Respond to clients, advisors, and intermediaries regarding the administration and maintenance of accounts
Maintain a proactive commitment to established Bank programs, such as CustomerFirst, Community Reinvestment Act (CRA) and Equal Employment Opportunity.
Comply fully with all 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.).
Perform a legal and administrative review of all potential new business.
Work with Bankers, Portfolio Managers, and Financial Consultant colleagues 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 key COI’s, Bankers, and Financial Advisors.
Work with external advisors and attorneys to expand trust’s brand and garner larger market share within region.
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.
Manage risk to ensure all relationships are within CNB’s risk appetite.
Provide regular tracking for review of new business activities.
Meet regularly with existing income beneficiaries and remaindermen to profile clients and eventual retention of distributing trusts.
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
8 years of experience in a financial or legal services organization
8 years of experience in trust administration

Additional Qualifications

Bachelor’s Degree
10 years of experience in trust administration
Microsoft Office (Word, Excel & PowerPoint)
JD, LLM or other legal designation/degree preferred
Completion of Trust Certificate and/or CTFA preferred

WHAT'S IN IT FOR YOU?

Compensation

Starting base salary: $122,548 - $208,711 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.

*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

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

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#CA-DN1

About the Company

City National Bank

Provides banking, investment, and trust services

City National Bank provides personalized banking, investment and trust services to individuals and businesses, with $93 billion in assets and $106 billion in client assets under management or administration. It offers traditional banking, wealth management and fiduciary services through branches and private banking relationships across markets in California, New York, Tennessee, Georgia, Delaware, Nevada, Washington, D.C., and Miami (as CN Bank). The bank distinguishes itself with a strong local footprint, close integration with its parent Royal Bank of Canada, and a history of community giving, including nearly $10 million donated in 2024. Its goal is to help clients grow and protect their wealth while supporting the communities it serves and expanding its market reach through trusted advisory services.

Company size: 5,001-10,000
Company stage: IPO
Headquarters: Los Angeles, CA
Founded: 1953

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