Trust Officer

Engages with Ultra High Net Worth clients and administers their trusts to ensure the preservation and continued growth of their trust assets to achieve the client’s specific trust and estate planning objectives.

Job Requirements

• Manage a book of trust and estate accounts: types include revocable and irrevocable trusts, testamentary trusts, ILITS and IRA accounts, charitable trusts, estate accounts, and agency accounts, discretionary and directed.

• Provide superior client service and develop deep relationships with clients to best administer their trust accounts, generate solutions, and meet their investment objectives and distribution needs.

• Serve as an excellent fiduciary on behalf of Citi for our clients and aim to identify growth opportunities.

• Manage the new account opening process including review of all critical forms and documents, ensure proper funding, ensure that account has been opened on the system with correct coding regarding statements, proxies, investments and tax, and fee agreements, submit for management inception.

• Initiate investment management of the accounts by coordinating with Private Bankers and Investment Counselors utilizing both internal and external investment managers. Products include equities, fixed income, mutual funds, ETFs, private equities, hedge funds and real estate vehicles.

• Review discretionary distribution requests by interpreting the terms of the trust document to determine the appropriateness of the request.

• Perform annual administrative reviews of all accounts and update information for each account as appropriate.

• Work with both internal and external tax preparers to complete and file tax returns for the various types of accounts, including Forms 1041, 5227, 990PF, 1042S, and 1099.

• Comply with all legal requirements and internal procedures in relation to account activity.

• Communicate effectively with the client and/or the client’s attorney on all trust and estate matters and attend in-person client meetings and investment reviews.

• Partner with the Private Banking and Investment teams with regards to the trust and overall client relationship including timely and accurate responses to inquiries.

• Partnership with and oversight of an Assistant Trust Officer

• Maintain a local presence in the trust and estate professional community.

Education and Qualifications

• Strong relevant education/certification, e.g., bachelor’s degree in finance, MBA, JD, CFTA

• 10+ years experience in a client-facing fiduciary role, specifically with trust and/or estate management and administration experience

• Strong knowledge and proven technical proficiency in legal, investment, and tax issues relative to trust and / or estate management and administration

• Strong team player and partner

• Outstanding integrity – always doing what’s right on behalf of the client while managing risk for the firm

• Excellent communication skills

• Superior client service skills

• Self-motivated with an inherent sense of urgency to client requests

• Continuous improvement mindset to always seek optimal internal and client-facing processes

Education:

• Bachelor's/University degree, Master's degree preferred

Job Family Group:

Private Client Product Services

Job Family:

Trust Fiduciary Services

Time Type:

Full time

Primary Location:

New York New York United States

Primary Location Full Time Salary Range:

$129,840.00 - $194,760.00

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays. For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

Anticipated Posting Close Date:

May 24, 2024

Citi is an equal opportunity and affirmative action employer.

Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

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Citi is an equal opportunity and affirmative action employer.

Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.