Job Information
CIBC Trust Administrator in Newport Beach, California
We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.
At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC, please visit CIBC.com (https://www.cibc.com/en/about-cibc.html)
What you'll be doing
Reporting to the Senior Trust Advisor, the Trust Administrator (“Administrator”) will be a centralized role in the Fiduciary Center of Excellence, responsible for managing and administering all aspects of an assigned book of trust accounts. Along with the Senior Trust Advisor, the Administrator will partner with front office teams and provide centralized day to day trust administration support. The Administrator will address client inquiries in a timely and effective manner while coordinating and overseeing all trust administration activities in the account. The Administrator will exercise basic decision-making authority as deemed appropriate by management. The ability to successfully identify and manage compliance and risk management issues is also important.
How you'll succeed
Provide trust administration for an assigned group of high net worth accounts, including preparation of discretionary distribution memos and managing calendar ticklers for relevant trust administration events such as mandatory distributions, 65 day elections, Crummey notices and age of attainment.
Maintain accurate client files with all trust documents and client related information.
On-going monitoring and maintenance of trust account and beneficiary information in trust accounting system.
Partner with Relationship Managers, client service managers and the Senior Trust Advisor to provide trust administration support to an assigned book of accounts.
Identify actual or potential fiduciary risks and proactively engage Senior Trust Advisor or other internal resources, as appropriate.
Coordinate tax estimates, tax payments and relevant information with Fiduciary Tax Team.
Complete Reg. 9 annual administrative reviews.
Complete requests for committee meetings (e.g. discretionary distributions)
Adhere to all policies and procedures and help promote a compliance-minded culture.
Coordinate fiduciary account openings, including the review and interpretation of governing documents and applicable state laws to ensure accurate and complete account setup.
Coordinate trust administration work flow with front office teams and Operations and Centers of Excellence.
Coordinate and monitor fiduciary account closings, including the gathering/distributing of assets and other related tasks, with Operations and Centers of Excellence.
Collaborate with internal tax team to determine tax filings, and ensure all filings are timely.
Respond to client inquiries timely and thoughtfully.
Assist relationship managers and client-facing personnel with trust-related questions and inquiries.
Who you are
2-3+ years of experience in estate and trust administration, preferably at a financial institution.
Bachelor's Degree required.
CTFA, JD or other industry certification preferred.
Firm understanding of accepted trust and estate administration processes, timelines and concepts.
Outstanding client service skills, including proactive communication and problem solving.
Must be detail oriented.
Must be comfortable reading and interpreting trust documents and wills.
Excellent written and verbal communication.
Strong computer skills including proficiency with trust accounting systems and MS Office.
Experience working directly with high net worth clients.
Able to work independently as well as in a team environment; ability to build collaborative working relationships with Senior Trust Advisor, Relationship Managers, Client Service Managers and Private Bankers.
California residents — your privacy rights regarding your actual or prospective employment (https://us.cibc.com/en/about-us/california-consumer-privacy-act-employment.html)
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $100,000 - $120,000 for the Newport Beach and San Francisco, CA markets based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.
Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.
What CIBC Offers
At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.
We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
*Subject to plan and program terms and conditions
What you need to know
CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.
Job Location
CA-520 Newport Center Dr
Employment Type
Regular
Weekly Hours
40
Skills
Communication, Estate Administration, Oral Communications, Risk Compliance, Trust Administration
At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.
Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.
Every day, our 44,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.