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Sr. Trust Officer, Vice President

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  • Requisition # 10031852-WD
  • Job Type Day
  • Location Beverly Hills, CALIFORNIA
  • Brand
  • Date Posted 12/17/2019

Your potential. Your opportunity.


Are you passionate about creating an exceptional client experience?

Discover your opportunity with Union Bank, a division of the Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world. At Union Bank, we care about the details that matter most to our clients. We have our clients’ best interest in mind, drawing on more than 150 years of experience to understand their distinct needs and tailor our solutions. We’re part of 180,000 colleagues around the globe striving to be the world’s most trusted financial group. Trust starts with a culture of putting people first and empowering you to achieve your potential. Join Union Bank, where being inspired is expected and creating results is rewarded.

Senior Trust Officer, Vice President - Beverly Hills, California

Job Summary:

Trust administration of the largest, most complex, portfolio trust accounts that are drawn from any one or more of these categories: Probate, Guardianships, Living and Testamentary Trusts, Investment Advisory and Custody Accounts, Escrows and Employee Benefit Trusts.

Major Responsibilities:

Your role and responsibilities include handling all accounts with applicable legal requirements and securing Bank and external professional services as appropriate to fulfill the special needs of trust clients. Responsible for improving the profitability of existing accounts by communicating the benefits of Bank Trust services to clients, prospects and their professional advisors. The position may also have the responsibility of supervising and developing the activities of junior trust officers.

  • New client Acquisition 30%: You will be responsible for rapidly growing the portfolio with new client acquisition. Actively identify the needs of the prospects and sells appropriate products and services. Follows up on customer contacts and closes the sale of products. Promote business development through personal contacts in the professional community. Attempt to upgrade account relationships and welcome and promote additions to existing accounts where appropriate. Develops and implements marketing plan.
  • Trust Admin Duties: 70%: You will be responsible for the most complex Trust accounts. Accounts that include unusual and sophisticated tax situations and multi-family generation. Accounts assigned are considered riskier and more profitable accounts. Responsible for running all of the administrative and fiduciary functions of the Bank for each of your accounts assigned. The nature of these account responsibilities will vary according to the type and complexity.

The position is responsible for securing the following specialized services on behalf of the account:

  1. Securities portfolio management.
  2. Real Estate portfolio management.
  3. General accounting services.
  4. Tax accounting and returns.
  5. Paying, receiving and safekeeping.
  6. General banking services.
  7. Special financial reports as required by law.

In addition, the coordination and provision of outside professional services that will include:

  1. Legal counsel.
  2. Tax/financial planning and CPA services.
  3. Real property appraisal.
  4. Personal crisis/medical consultation.
  5. Retirement plan record keeping.
  6. Special asset appraisal, management and disposition (including: closely-held businesses, natural resource producing property, agricultural land, collectible personal property, limited partnerships and tax shelters).

Your responsibilities will also include providing quality service in the positions book of business through a thorough knowledge of the personality within each account. This includes maintaining ongoing relationships with clients, beneficiaries, trustors and related professionals connected with those accounts.

You will administer all accounts according to applicable laws, regulations and policies and in accordance with trust documents to carry out the intent of the trust. Regularly reviews all of the financial transactions in each account, and to review, monitor and ratify all cash payments and fee charges.

  • Responsible for being aware of areas, which may represent potential liability to the Bank, making specific recommendations to the Trust Manager; this includes actively following pending litigation or areas of potential liability involving accounts administered by other Trust Administrators providing guidance and support as needed.
  • Contact and correspond with beneficiaries/principals and other interested individuals involved in the assigned accounts pursuant to guidelines established.
  • Resolve any problem of beneficiaries/principals of routine, assigned accounts, which are sometimes of sensitive nature.
  •  Act as investment portfolio manager for accounts invested solely in Common Trust Funds and drive investment diversification based upon investment policies and customer objectives.
  • Assist or draft performance reviews of subordinate staff members for supervisor's review.
  • Make decisions on maintenance or termination of unprofitable or marginally profitable accounts Work closely with management to improve productivity and develop administration of more complex accounts.
  • Receive discretionary distribution requests from beneficiaries of irrevocable trusts and product documentation for submission to Discretionary Sub-Committee.
  • Prepare required reports or information as requested by supervisor or management.
  • Maintain communication with trust beneficiaries, providing such personal services as needed and appropriate.
  • Maintain current knowledge of trust laws, principles and regulations in general, and with regard to the specific nature of the accounts in the position's book of accounts.
  • Reviews, ratifies and monitors the execution of investment, real estate management and other service decisions made by portfolio, real estate and other Bank officers or outside consultants, for each account.
  • Build and maintain a familiarity with our economic and investment strategies.


Additional Information:

  • Requires a minimum of 8+ years trust administration experience
  • Advanced trust computer systems and its capabilities.
  • Advanced knowledge concerning trust administration, investments, real estate, cash management vehicles, Common Trust Funds, mutual funds, probate code, closely held corporations, partnerships, insurance, annuities, and tax laws as they apply to individuals and fiduciaries.
  • Ability to read and interpret complex trust instruments, and make decisions based upon knowledge and research.
  • Understanding the liabilities associated with the bank acting as a fiduciary for individuals or entities. \
  • Computer skills including, word processing, spread sheet applications, and database management.

Qualifications & Job Requirements:

  • This opportunity also requires demonstrated principles of trust and estates, related taxation and financial planning practices and other specialized services applicable to the successful administration of a variety of accounts.
  • You will have the ability to be able to perceive and present the need of each account and to take responsibility for meeting those needs.
  • You should have the shown ability to communicate successfully, both orally and in writing, with clients and co-workers throughout the organization.
  • Familiarity with applicable accounting functions, as well as knowledge of Bank services.

Certification or Licensing Requirements:

  • This position level requires having at least one of the following: JD (Juris Doctor) CRSP (Certified Retirement Service Professional) CTCP (Certified Trust Compliance professional) CFSA (Certified Financial Service Auditor) AEP (Accredited Estate Planner) CSIP (Certified IRA Services Professional) CTFA (Certified Trust and Financial Advisor) CFP (Certified Financial Planner)

The above statements are intended to describe the general nature and level of the work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.

We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.

A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it’s the bank’s policy to only inquire into a candidate’s criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.

  • Job Wealth Management
  • Primary Location Beverly Hills, California
  • Shift Day
  • Schedule Full Time
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