Director of Delaware Trust

Mechanics Bank•Wilmington, DE

23h•Onsite

About The Position

Mechanics Bank is seeking a Director of Delaware Trust to oversee and manage sales activities and cultivate trust business. This role requires a deep understanding of trust and tax laws, regulatory policies, and Bank procedures. The Director will be responsible for quality control of accepted business, identifying new business opportunities to enhance the profitability of the Trust and Investment portfolio, and ensuring compliance with all relevant regulations. The position involves proactive administration of assigned trusts, accurate interpretation of governing documents, management of tax and legal activities, and effective communication with clients, beneficiaries, and professional advisors. The role also includes leading sales efforts, collaborating with wealth management professionals, building relationships with referral sources, and serving as a liaison between trust compliance and staff. Additionally, the Director will mentor junior staff, lead by example in service delivery and employee conduct, and participate in departmental improvement initiatives. This position is a member of the Trust Administrative Committee, the Senior Management Team of Mechanics Bank Wealth Management, and its Board of Directors. The Director will also serve on various committees for the Mechanics Bank Trust Company of Delaware, prepare and present training materials on Delaware trusts, and act as a subject matter expert. Continuous learning in trust, tax, and related areas is expected, along with participation in the development of fiduciary services. In collaboration with the Director of Wealth Management, the role is accountable for financial performance, profitability, and resource management, including budgeting and staffing. Interaction with regulators, particularly the Delaware OSBC, is also a key responsibility. Travel is expected to be 20-30%.

Requirements

10 years of trust administrative experiences are required.
4 year college degree with preference of a JD degree.
Thorough knowledge of Trust requirements including account transfer policies, practices, and procedures.
Thorough knowledge of the features and benefits of special situs trusts, the differences between Delaware and other special situs, as well as the requirements and process for decanting trusts to Delaware.
Strong knowledge of estate and tax planning techniques and their appropriate application.
Extensive understanding of trust accounting systems.
Knowledge of securities, real estate, LLCs, limited partnerships and other entities.
Must be thoroughly familiar with and adhere to all applicable, federal and state laws, regulations and guidance, including those related to Anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.)
Must have experience supervising trust personnel, including coaching development, counselling, team building and motivational/inspirational leadership experience.
Proven track record of business development success.
Exceptional communication skills.
Must be knowledgeable of all Bank policies and procedures; completing required training.
Excellent analytical skills; reviewing various data sources including reports and manuals.
Must be able to communicate effectively via telephone and in person.
Excellent organizational ability.
Excellent attention to detail and accuracy.

Nice To Haves

JD degree is preferred.
CTFA-Certified Trust and Fiduciary Advisor is preferred.

Responsibilities

Proactively administers and manages activities for assigned trust, adhering to the terms of the governing documents.
Accurately interpret and apply provisions of governing documents consistent with applicable statutes and regulations.
Manages all tax and legal activities related to assigned accounts.
Communicates with clients, beneficiaries, care managers, attorneys, CPAs, portfolio managers and other professionals to resolve problems and concerns with accounts.
Authorizes discretionary and non-discretionary payments and gathers appropriate backup documentation, as needed.
Lead and participate in sales activities and help control quality of business accepted.
Work closely with trust officers, private bank relationship managers, portfolio managers and other wealth management professionals in the cultivation of trust business opportunities (i.e. trust, custody, and escrow).
Works with both internal and external clients; Build and deepen relationships with centers of influence (i.e. accounting firms and law firms) in an effort to solidify referral sources.
Develop and maintain effective links with all units of Bank and affiliated companies to ensure meaningful cross-selling and/or support of trust activities.
Serves as the liaison between trust compliance and trust staff.
Mentor junior trust officers and associates on significant account administrative matters and business development activities.
Lead by example to ensure the quality of: Delivery of products and services, Marketing and sales activities, Demeanor and deportment of trust employees.
Participates and contributes to departmental activities designed to improve the account management process, such as TAC, NAAC and the training conducted by Trust managers.
Prepare and present training materials educating internal partners on the benefits of Delaware trust, as well as how to identify and refer opportunities.
Conduct training via video conference and periodically in person.
Serve as a subject matter expert on Delaware trusts and related fiduciary topics.
Continually enhances knowledge of trust, tax and related areas by participating in ongoing educational functions, including those offered by the trust team and those available from third parties.
Participates in creating and developing fiduciary services.
In collaboration with Director of Wealth Management, accountable for financial performance, profitability, and resource management, including capital and expense budgeting, staffing, and cross-functional coordination to improve efficiency and effectiveness of the Mechanics Bank Trust Company of Delaware.
Interaction with regulators in coordination with the Regulatory Compliance team of Mechanics Bank Wealth Management.
Primary contact for the Delaware OSBC and interaction on regulator matters.

Benefits

Medical, prescription, dental, and vision coverage for employees and their eligible family members
Employer paid Employee Assistance Program, Life Insurance, AD&D, and Disability benefits
Health Savings Account with employer contribution
Healthcare and Dependent Care Flexible Spending Accounts and Commuter/Parking Benefit
401(k) and Roth 401(k) with company contribution
529 Education Savings plan, Tuition Reimbursement Program and Student Loan Assistance Program
Supplemental Health plans, Voluntary Legal and Identity Theft Services
11 paid holidays, paid Sick days (accrual of one hour for every 30 hours worked), up to 25 paid vacation days, and 16 hours of paid volunteer time throughout the calendar year
Free personal checking and savings account
Discounted rates on primary residence loan with $0 origination fees (restrictions apply)