19 days old

Sr Fiduciary Officer

Northern Trust
Seattle, WA 98104
  • Job Code
The Wealth Management Senior Fiduciary Officer role combines senior Trust Advisor relationship management with fiduciary practice leadership and risk management. Partner is responsible for managing complex wealth management client relationships and delivering high quality fiduciary services, overseeing all aspects of fiduciary and compliance related risk matters for a particular region. The Senior Fiduciary Officer also acts as a regional resource for fiduciary leadership and risk management for all advisors in the particular region and collaborates with the Regional Chief Fiduciary Officer and internal counsel as appropriate on all aspects related to risk, compliance and litigation management. A. Serving as Senior Trust Advisor for Relationships

1. Manages assigned account base of wealth management clients by working with client service team, clients and their professional advisors to develop a thorough understanding of the client's needs and goals. Focused client service with responsiveness, diplomacy and tact; proactive client contact through written and verbal communication with suitable frequency. Exhibits excellent time management skills.

2. Exhibits depth of knowledge of governing documents and account agreements. Exhibits extensive knowledge of fiduciary duties and applicable laws, including trust and tax law, estate planning techniques, financial planning, asset management and prudent investment principles. Seeks continued development of fiduciary and advisory skills through training and experience.

3. Responsible for leading client conversations for Goals Driven Wealth Management and providing proactive advice to clients on NT's products/services, emerging issues, regulatory/tax changes, and appropriate actions for the client. Combines technical knowledge with fact finding and analysis to develop advice-driven solutions for clients. Explains complicated concepts to clients in a thoughtful way using non-technical terminology. Maintains a working knowledge of various NT resources and utilizes fiduciary knowledge, experience, and NT resources to identify opportunities for relationship enhancement.

4. Builds and maintains knowledge of NT fiduciary standards and practices; applies fiduciary knowledge and judgment to fiduciary relationships. Understands and complies with internal policies, processes and procedures to effect prudent risk management and judgment. Recognizes fiduciary risk issues and seeks appropriate resolution. B. Serving as Senior Fiduciary Officer

5. Provides regional oversight of all fiduciary, compliance and risk related matters for the region, including continued monitoring and resolution. Available to all advisors for consultation on day-to-day matters that involve trust administration, risk management and adherence to compliance related measures and policies and issues, including aspects of the GDWM implementation. Involves trust counsel and Regional CFO and Advisory Practice Leader as appropriate.

6. Supports implementation of national initiatives and programs; lends advisory expertise to business development opportunities. Participates in hiring process for trust advisors and provides feedback for annual review and compensation discussions for advisors with input based on evaluation of subject matter expertise and compliance with best fiduciary practices; assists trust advisors in development plan design and implementation.

7. Participates as requested on fiduciary oversight committees, including account acceptance and discretionary actions.

8. Displays a balanced, cross-functional perspective, across disciplines and across regions, liaising with the business to reduce all elements of risk and to improve efficiency, effectiveness and productivity. C. General

9. Participates in developing fiduciary strategic plan and sets goals and priorities based on the direction set for the unit; follows through to ensure that objectives are met.

10. Provides leadership and guidance to staff, fostering an environment that encourages employee participation, teamwork, and communication.

11. Cultivates relationships with referral sources and centers of influence to build the business; identifies and develops new business opportunities. Participates in community and professional organizations representing NT. Identifies opportunities to showcase NT expertise and thought leadership.

Minimum 10 years' experience as a lead relationship manager in trust administration, estate administration, estate planning, or related fields. Legal background, or commensurate experience, strongly preferred.

Broad knowledge of fiduciary and financial products and services, usually acquired through related work experience, is required to manage client accounts.

Technical knowledge of investments, tax, legal, and operations usually acquired through formal education or related experience is required to service clients.

Thorough knowledge of fiduciary standards, principles, and applicable laws and regulations usually acquired through training, seminars, or law school is required to administer accounts.

Proven skills in negotiation, problem resolution, delegation and leadership are critical.

Leadership and organizational skills are required to determine the Business Unit's goals, resources needed, and to assess and develop the skills of staff.

Additional Information

Posted: 2022-06-17 Expires: 2022-07-16
Sponsored by:
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Sponsored by:
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Sr Fiduciary Officer

Northern Trust
Seattle, WA 98104

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