Private Bank - Assistant Trust Officer

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Citi Private Bank - Assistant Trust Officer
Responsibilities: Manage an existing book of trust and estate accounts such as revocable and irrevocable trusts, testamentary trusts, ILITS and IRA accounts, various types of charitable trusts, estate accounts, and agency accounts, both discretionary and directed; initiate investment management of the accounts by coordinating with Private Bankers and Investment Counselors and utilizing both internal and external investment managers including equities, fixed income, mutual funds, ETFs, private equities, hedge funds and real estate vehicles to ensure the appropriateness of the account allocation based on the investment objective and risk tolerance of the account; knowledge and understanding of special assets such as promissory notes, operating agreements, LLC’s, LP’s, loan holds, life insurance policies, real estate interests and oil and gas interests; working 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; review of a discretionary distribution request which includes collection of financial and tax documentation from the client together with the interpretation of the terms of the trust document to determine the appropriateness of the request; review and update information for each account for the annual administrative review which includes 13 major categories. Review legal and trust documentation and have an understanding of the provisions in order to effectively assist the client and their advisors in achieving specific trust and estate objectives. Identification and reporting to Senior Risk Committee and management of the risk of financial loss and/or damage to the company's reputation arising of g from the activities within the Trust businesses; Communicating with internal and external auditors as well as state examiners; working with Investment Management Oversight on the identification of and diversification of a discretionary portfolio’s exposure to a single security, issuer or industry. Communicate effectively with the client and/or the client’s attorney on all trust and estate matters and attending in personal client meetings and investment reviews; interact with and establish a working relationship with the Private Banking and Investment team in regard to the trust and overall client relationship including timely and accurate responses to inquiries. Oversight and management of Assistant Trust Officers in all their duties; participation in internal and external training opportunities for ongoing professional development; drafting of policies and procedures as assigned by management and additional projects as requested; maintain a local presence in the trust and estate professional community. Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding the company, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

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