Trust Officer

Trust Officer Opportunity

This position supports City National Trust and Estates by administering 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.

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, financial advisors, 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 documents to ensure documents are in compliance.
• Analyze anticipated income to insure sufficient cash is maintained to meet beneficiary distributions, fiduciary 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 reconciliations, 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.
• Comply fully with all bank operational and wealth management policies and procedures as well as all regulatory requirements.
• Perform a legal and administrative review of all potential new business.
• Build strong relationships with key COIs and financial advisors.
• 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?

What's in it for you?

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.

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.