Description:
The Senior Relationship /Trust Advisor manages complex fiduciary relationships and is responsible for collaborating with the regional Northern Trust service teams and utilizing appropriate NT resources to ensure timely delivery of high-quality fiduciary service. This includes issue resolution, effective communication of client needs internally and externally, and coordination with client’s professional advisors in the context of their Delaware trusts. The Senior Relationship/Trust Advisor also has responsibility for mentoring less experienced Relationship/Trust Advisors.
Job Description
Major Duties:
- Manages assigned account base of sophisticated fiduciary relationships through the day-to-day administration of their Delaware trusts by working with client service team, clients, and their professional advisors to develop a thorough understanding of the client’s needs and goals. Exhibits thorough knowledge of governing trust documents and account agreements. Exhibits mastery of fiduciary duties, applicable laws and oversight, including trust and tax law, estate planning techniques, financial planning, asset management and prudent investment principles
- Combines technical knowledge with fact finding and analysis to develop advice-driven solutions for clients as pertains to their Delaware trusts. Explains complicated fiduciary concepts to clients in a thoughtful way using non-technical terminology
- Maintains extensive knowledge of various NT resources and utilizes fiduciary knowledge, experience, and NT resources to identify opportunities for relationship enhancement
- Focused client service with responsiveness, diplomacy and tact; proactive client contact through written and verbal communication with suitable frequency. Exhibits excellent time management skills
- Builds and maintains extensive knowledge of NT fiduciary standards and practices, applying fiduciary knowledge and judgment to complex 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
- Cultivates relationships with referral sources and external professional advisors to build the fiduciary business; identifies and develops new business opportunities. Participates in community and professional organizations representing NT. Identifies opportunities to showcase NT expertise and thought leadership
- Travels to meet with clients where appropriate considering revenue, new business opportunities, or servicing requirements
- Teaches and mentors less experienced partners. Advises less experienced Relationship/Trust Advisors on fiduciary issues and serves as subject matter expert to them. Provides leadership on fiduciary projects and committees
- Seeks continued development of fiduciary and advisory skills through training and experience
- Uses sophisticated analytical thought to exercise judgement and identify innovative solutions
Knowledge
- Extensive knowledge of fiduciary and financial products and services, usually acquired through related work experience, is required
- Specific experience with fiduciary accounts and issues required to service complex fiduciary relationships. Technical knowledge of investments, tax, legal, and operations usually acquired through formal education or related experience is required
- Extensive knowledge of fiduciary standards, principles, and applicable laws and regulations usually acquired through training, seminars, or law school is required.
- Skills in negotiating, problem solving, delegating, leadership, and sales are required
- Leadership and organizational skills are required
- Interprets internal/external business challenges and recommends best practices to improve products, processes or services
Experience
- College or university degree &/or relevant proven work experience required. JD or similar credentials strongly preferred.
- 12-15 years’ experience as a trust advisor/officer or attorney in trust administration, estate administration, estate planning, or related fields.