Overview:
Responsible for the administration and fiduciary management of complex trust relationships within client relationships.
Primary Responsibilities:
- Apply deep experience and technical understanding to the administration and oversight of complex trust relationships within an assigned book of client trust accounts through demonstrated proficiency and sound judgment in exercising fiduciary discretion.
- Serve as the primary point of contact for the client on the trust account relationship, communicate regularly with the client on all trust matters and responsible for overall trust administration management for complex trust relationships.
- Assess and manage risk, exercise fiduciary discretion and judgment, and adhere to policies and procedures related to account administrative activities. Serve as key partner to wealth clients and developing and implementing trust solutions to meet wealth client needs. Anticipate and identify opportunities to create new relationships and expand existing relationships.
- Provide superior client service and develop deep relationships with clients to best administer their trust accounts, generate solutions, and meet distribution needs.
- Communicate regularly with the client team (Custom Credit Advisors, Investment Advisors, and Commercial and Business Bankers, etc.) supporting the client to ensure the client team is aware of trust matters concerning the client.
- Manage the new account opening process including reviewing all critical forms and documents, and ensuring proper trust funding, account opening with correct coding regarding statements, proxies, investments and tax, correctness of beneficiary information, and that fee agreements are in place; monitor terminations as necessary.
- Play a key role in overall client satisfaction and retention through cultivating strong working relationships with clients and their advisors to develop a complete understanding of individual client needs. Communicate client needs and concerns to partners.
- Maintain comprehensive knowledge, and coordinate efforts, of appropriate Bank resources, including market leadership, tax liaison team, Legal and Compliance, to ensure timely delivery of quality service and expand client relationships.
- Support market efforts to develop new trust business; participate in client presentations, as requested, and serve as subject matter expert concerning trust administration. Represent the Bank in a professional and competent manner whether over the phone or in person with clients, advisors, and business partners.
- Serve as fiduciary resource to Wealth Advisors and other internal partners.
- Support the goals and objectives of the wealth practice and regional leadership by serving as a mentor and role model for less experienced staff.
- Understand and maintain current knowledge of regulatory requirements and Federal and state law concerning trust and estates, as well as industry standards and practices.
- Understand and adhere to the Company’s risk and regulatory standards, policies, and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management.
- Promote an environment that supports diversity and reflects the M&T Bank brand.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Complete other related duties as assigned.
Scope of Responsibilities:
An important component of the position is the ability to communicate internally with Bank management and executives, and externally with clients, their representatives, accounting firms, other investment managers, attorneys, CPAs (Certified Public Accountants), and tax accountants, etc.
Supervisory/Managerial Responsibilities:
Not Applicable
Education and Experience Required:
Bachelors' degree and a minimum of 7 years’ experience administering fiduciary accounts or related legal/business experience in the financial services industry including technical trust and planning experience, or in lieu of a degree, a combined minimum of 11 years’ higher education and/or work experience, including a minimum of 7 years’ experience administering fiduciary accounts or related legal/business experience in the financial services industry, including technical trust and planning experience.
Strong verbal and written communication skills
Strong presentation skills
Strong planning skills
Strong organizational skills
Strong customer focus
Thorough knowledge of fiduciary business including decisioning experience in complex fiduciary matters
Experience attracting, expanding, and retaining client relationships including building a significant level of trust with clients
Good investment knowledge of asset allocation strategies
Proficiency with personal computers
Experience maintaining high level of integrity and professionalism
Education and Experience Preferred:
Juris Doctor (JD) or Master’s degree
Minimum of 10 years’ experience administering fiduciary accounts or related legal/business experience in the financial services industry including technical trust and planning experience
CTFA (Certified Trust and Financial Advisor) certification
Strong interpersonal skills
Physical Requirements:
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $134,216.04 - $223,693.40 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.
Location:
Boston, Massachusetts, United States of America
