Overview:
Oversees and implements the organization’s fiduciary strategy by providing leadership, direction and oversight of efforts associated with the Trust Practice, inclusive of regulatory compliance requirements and strategic goals related to Trust services. Provides supervisory oversight of fiduciary aspects of assigned accounts that include significant and complex fiduciary client relationships, including assessing and managing risk, appropriate exercise of fiduciary discretion and judgment and adherence to policies and procedures related to account administrative activities. Serves as key consultant to the field (Trust Officers, Wealth Advisors, and Market leadership) in developing and implementing solutions addressing client needs. Provides expert assistance to internal partners in support of client development and retention efforts. Manages a team of individuals responsible for the administration and oversight of trust accounts and trust relationships.
Primary Responsibilities:
- Manage a team of Trust professionals in managing client relationships (may or may not have a specific book of clients). Provide fiduciary risk oversight of fiduciary accounts managed by Trust Officers.
- Manage the implementation of policies and procedures related to fiduciary and account administrative matters.
- Assess the proficiency and judgment of individual team members with respect to the overall management of their assigned fiduciary accounts, client relationships, exercise of discretion and their identification, mitigation, and management of risk.
- Provide oversight with respect to new trust business opportunities, including document review and approval, and escalation where necessary, to management and Legal. Provide risk-tolerant solutions with respect to new business opportunities and existing trust administration, if reasonable, sustainable, and consistent with applicable Federal and state law, regulations and internal policies and procedures related to account activities.
- Provide oversight of discretionary actions for fiduciary matters (i.e., power to adjust, distributions, terminations, new account acceptances), including review of discretionary actions, approval or declination of such and formulation of alternative actions.
- Act within defined approval limits for discretionary actions for trust matters such as power to adjust, distributions, terminations, and new account acceptances.
- Serve as active member of Trust Practice oversight committees, such as Acceptance and Terminations Committee (ATC), Discretionary Action Committees (DAC) and others as determined by the practice.
- Serve as fiduciary resource to Market leadership, Wealth Advisors, Trust Officers, and other internal partners. Serve as key fiduciary consultant to Wealth Advisors and Market Leaders as they develop and implement strategies to address client needs.
- Partner with local market leaders to ensure fiduciary services are consistent with business line objectives.
- Ensure overall satisfaction of team’s assigned clients and cultivation of strong working relationships with them and their advisors to develop a complete understanding of their needs to add value to client relationships by serving as trusted advisor to resolve existing issues, pro-actively anticipate issues and take preventive action in advising the client or primary client contact.
- Ensure assigned team educates clients on additional Bank products and services, emerging issues, and regulatory/tax changes to ensure the continued meeting of client needs.
- Maintain comprehensive knowledge of appropriate Bank resources and maintain strong working relationships with market leadership, Tax, Legal, and Compliance. Understand and maintain current knowledge of regulatory requirements and Federal and state law concerning trust and estates. Maintain current knowledge of industry standards and practices.
- Exercise usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, performance management and terminations.
- Understand and adhere to the Company’s risk and regulatory standards, policies, and controls in accordance with the Company’s Risk Appetite. Design, implement, maintain, and enhance internal controls to mitigate risk on an ongoing basis. 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:
This position is responsible for technical fiduciary oversight of fiduciary services within a defined area, inclusive of assessing and managing risk, ensuring appropriate exercise of fiduciary discretion and judgment, and ensuring adherence to policies and procedures related to account activities, and managing a team of individuals responsible for the administration and oversight of trust accounts and trust relationships. The position serves as key resource to Trust Officers, Wealth Advisors, Market Leaders, and Area Executives with respect to trust services, new business acceptance, risk identification, risk management and risk mitigation. The position requires the ability to effectively communicate internally and externally with clients, their representatives, accounting firms, other investment brokers, attorneys, CPAs (Certified Public Accountants) and others.
Supervisory/Managerial Responsibilities:
No. of Staff – up to 20
Education and Experience Required:
Bachelors' degree and a minimum of 9 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 13 years’ higher education and/or work experience, including a minimum of 9 years’ experience administering fiduciary accounts or related legal\business experience in the financial services industry including technical trust and planning experience
Minimum of 3 years’ managerial and/or work leadership experience
Good investment knowledge of asset allocation strategies
Thorough knowledge of fiduciary business including decisioning experience in complex fiduciary matters
Strong verbal and written communication skills
Strong presentation skills
Strong planning skills
Strong organizational skills
Strong customer focus
Experience attracting, expanding, and retaining client relationships including building a significant level of trust with clients
Proficiency with personal computers
Experience maintaining high level of integrity and professionalism
Education and Experience Preferred:
Juris Doctor (JD) or Master’s degree in Business Administration (MBA)
CFTA (Certified Trust and Financial Advisor) and/or CFP (Certified Financial Planner) certifications
Strong interpersonal skills
Self-confidence
Proven ability to work well with highly capable and successful individuals
Physical Requirements:
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $150,466.11 - $250,776.86 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.
Location:
Wilmington, Delaware, United States of America
