Trust & Wealth Management Manager - Santa Fe, NM

Job Title: Trust/Wealth Management Manager · Department: Trust/Wealth Management · Reports to: President · SUMMARY · Responsible for managing all staff and functions of the trust/wealth management department, developing new trust/wealth management business and all phases of trust ...

Job description

Job Title: Trust/Wealth Management Manager

Department: Trust/Wealth Management

Reports to: President

SUMMARY

Responsible for managing all staff and functions of the trust/wealth management department, developing new trust/wealth management business and all phases of trust/wealth management account management by performing the following duties:

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Establish overall direction of the Trust/Wealth Management Department by setting objectives and defining the means for their attainment.
• Develop, evaluate, modify and implement departmental policies and procedures consistent with the attainment of established objectives.
• Review the appropriateness of the services offered by the department and modify them as necessary to meet established objectives.
• Review the necessary management control reports to ensure that the department operates in accordance with the budgetary plan.
• Answer to the examiners and auditors regarding the department's operations, procedures, policies, controls and risk management.
• Maintain business and social contacts in the Bank's marketing area for the purpose of developing and retaining new trust/wealth management business.
• Review the department's use of the media and its direct customer contact efforts to determine the most productive promotional methods.
• Review and coordinate the department's personnel administration activities including hiring, training, reviewing, compensating, coaching and terminating.
• Monitor department staffing and assignments and recommend changes as needed.
• Oversee the administrative and operational aspects of the department.
• Chair the Trust Committee.
• In the absence of the Portfolio Manager buy and sell securities for individual trust accounts, investment advisory agencies, pensions and profit-sharing funds in accordance with policies established by the Trust Committee.
• Maintain level of technical knowledge through membership in professional and banking associations and participation in various seminars and educational programs.
• Communicate with trust clients providing information on investment outlooks, recent developments, seminar announcements and discussions on Trust policies and procedures for the benefit of clients.
• Provide oversight into the update and administration of the Trust Marketing Plan including arranging weekly marketing meetings, scheduling seminars, providing surveys, and developing sales and call goals.
• Provide oversight of marketing brochures and ensure that all marketing materials are updated.
• Supervise all trust/wealth management officers including hiring, scheduling, training, evaluating, coaching and addressing performance issues.

Account Relationship Manager Responsibilities

ESSENTIAL DUTIES AND RESPONSIBILITIES

Manage all aspects of book of business under administration.

• Perform the administrative and investment account duties.
• Maintain level of technical knowledge through membership in professional and banking associations and participation in various seminars and educational programs.
• Communicate with trust clients providing information on recent developments, seminar announcements and discussions on the trust policies and procedures for the benefit of clients.

Portfolio Management Duties

• Provide investment management oversight into managed accounts and make recommendations to clients as quarterly portfolio reviews are performed.
• Make account investment recommendations to the trust committee monthly.
• Present investment commentary to trust committee.
• Develop and maintain model stock portfolio appropriate for trust investments.
• Execute trades of stocks and bonds.
• Act upon any class action suits and corporate actions regarding security.

Administrative Duties

Trust Administration Where the Bank Acts as Trustee:

• Ensure each trust is administered in accordance with the will and trust agreement, bank policies and state laws.
• Ensure trust income is collected and properly distributed and/or reinvested.
• Ensure the trust Principal is properly managed, invested, and/or distributed.
• Remain apprised of changes in estate planning and tax issues.

Where the Bank is personal representative of an estate:

Probate wills within departmental policies and applicable state laws.

• Identify, collect, secure and appraise all assets and files and inventory of personal items reports to the court in a timely manner.
• Handle assets such as real estate and closely held corporations, which are special situations subject to valuation, and other actions that must be specially managed within departmental policies and state law.
• Properly notify beneficiaries of their interest.
• File federal and state tax returns and pay all taxes in a timely fashion.
• Ensure that all estate liabilities are identified, proven and satisfied.
• Distribute remaining assets according to the terms of the will and/or state law and proper court order.

Where the Bank acts as trustee:

Ensure the trust is administered in accordance with the will and trust agreement, bank policies and state laws.

• Ensure trust income is collected and properly distributed and/or reinvested.
• Ensure the trust Principal is properly managed, invested, and/or distributed.

Other Essential Duties:

• Carry out all duties of a conservator of real and/or personal property of minors or legally declared incompetent in accordance with the directions of the court and concerned governmental agencies, and within departmental procedures and policies.
• Perform all duties specified in the terms of a custodial, safekeeping or investment management agreement. Secure and invest customer's assets; collect and remit income to the customer or reinvest income where directed.
• Confer and act with all co-fiduciaries in handling of shared authority accounts within departmental policies and procedures and applicable state laws.
• Special administration policies and procedures apply in co-fiduciary accounts.
• Supervise Trust Assistant including hiring, evaluating, training, coaching and addressing performance issues.
• Oversee the preparation of the documents and books for the Trust Committee.
• Coordinate, draft and update the Trust Administration policies and procedures.
• Coordinate with all relationship managers on the optimal and appropriate options of each investment program suitable for beneficiaries or customers.
• Represent the bank to the customer in a courteous, professional manner, and provide prompt, efficient and accurate service.
• Create a positive work environment that promotes employee development.

This job description in no way implies that these are the only duties to be performed by the employee occupying this position. Employees will be required to perform any other job-related duties assigned by the supervisor. All requirements are subject to possible modification to reasonably accommodate individuals with disabilities.

Century Bank is an Equal Employment Opportunity/Affirmative Action employer and does not discriminate on the basis of race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age or veteran status.