1031 Exchange Relationship Manager Specialty Deposits

City National Bank • Miami, FL

9h • $92,114 - $156,880

About The Position

The Special Deposits–1031 Exchange Relationship Manager position is responsible for managing all aspects of the 1031 exchange transaction, including sales, presentations, documentation and timely communications with clients, attorneys and escrow/settlement agents. This key position is responsible for actively meeting the needs of both existing clients and prospective clients by presenting City National Bank’s 1031 exchange services, providing information and support to all lines of businesses, and generating COI relationships for 1031 exchange referrals. The 1031 Exchange Relationship Manager acts as a subject matter expert to CNB/RBC colleagues, clients and prospects providing guidance with 1031 transactions. This position requires a deep understanding of 1031 regulations and risk management, strong presentation and communication skills, and adherence to bank policies. The position may approve transactions within delegated authority.

Requirements

• Bachelor's Degree or equivalent
• Minimum 5 years working in 1031 Exchange services
• Minimum 3 years working as a Certified Exchange Specialist
• Solid understanding of all 1031 Regulations
• Effective sales and marketing abilities
• Capable of working well independently and in teams
• Has the ability to work autonomously in making sound business decisions and exercises appropriate level of authority commensurate with experience and responsibility
• Strong interpersonal, verbal, and written communication skills

Nice To Haves

• Certified Exchange Specialist® Strongly Preferred
• Licensed Real Estate Attorney or Real Estate Broker Preferred
• Excellent product and operational knowledge
• Excellent negotiation and closing skills

Responsibilities

• Focus on developing new 1031 Exchange Relationships. Assist colleagues in identifying 1031 exchange opportunities and solicit referrals for 1031 business from existing customers, a network of referral sources, and other professionals in the industry.
• Present City National Bank’s 1031 Exchange services to CNB/RBC colleagues, clients, referrals, and outside CPA/Attorney firms. Presentations may include learning opportunities for Continuing Education credits when requested.
• Able to communicate 1031 Regulations to colleagues, prospects, clients and referrals. Act as a Subject Matter Expert without giving legal advice or opinion on specific transactions. Obtain all documents required to open the account and draft all exchange documentation.
• Negotiate transactions dependent on the relationship, transaction details and any competitive pricing. Utilizing approved pricing models to assure profitability to CNB. Proposal to be reviewed with team leader and or department manager.
• Ensure conformance with Bank policy and regulatory requirements. Exercise sound risk judgment in approving transactions. Ensures the quality of all business introduced to the Bank.
• Represent the Bank by actively participating in outside civic and community affairs, business and industry-related organizations, and other professional activities as appropriate. Including trade shows, lunch and dinner association meetings as required for successful marketing of CNB.
• Interface and partner with other Bank departments as necessary. Define responsibilities and coordinate objectives for all areas within the 1031 exchange process. Resolve any client needs and internal issues.
• Maintain and update SalesForce with sales calls for prospects and clients, including referral opportunities from CNB/RBC. Prepare reports for management including providing monthly expense reports with proper detail.
• Maintain awareness of competitive products, practices, rates and changes in market conditions.
• Proactively identify, develop, and build relationships with clients and prospects consistent with the objectives of the division and the Bank to retain and deepen client relationships.
• Promptly complete all record keeping and call report tracking, expense report documentation and follow-up, and all bank required training courses.

Benefits

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level