Director, Trust Administration

Franklin Templeton•New York, NY

5d•Hybrid

About The Position

Fiduciary Trust International is a premier investment and wealth management firm with a commitment to growing and protecting wealth across generations. We offer a dynamic and collaborative approach to managing wealth for high-net-worth and ultra high-net-worth individuals and families, family offices, endowments, foundations, and institutions. Our investment managers, tax and estate planning professionals work together to develop holistic strategies to optimize clients’ portfolios while mitigating the impact of taxes on their wealth. As a fiduciary, the guidance we provide is in the best interests of our clients, without conflict or competing benefits. We offer boutique customization and deep expertise in specialized investment, tax and planning strategies alongside sophisticated technology and custody platforms. Fiduciary Trust International is owned by Franklin Templeton, a dynamic firm that spans asset management, wealth management, and fintech, giving us many ways to help investors make progress toward their goals. With clients in over 150 countries and offices on six continents, you’ll get exposed to different cultures, people, and business development happening around the world. Fiduciary Trust International is hiring a Director, Trust Administration to report into the Chief Fiduciary Officer. The Director, Trust Administration oversees the firm’s fiduciary activities, outside of Delaware, and leads a team of trust professionals that engage with clients, prospects, and their advisors to deliver and administer wealth transfer plans, including trusts. The Director is also responsible for managing trust administration professionals nationally. The trust department handles all aspects of administration relating to trust accounts for high-net-worth individuals. Working in conjunction with the Chief Fiduciary Officer, as well as team members in the various Regional Markets, the Director supervises all aspects of trust administration, such as acceptance of new business, account opening, discretionary actions, account settlements, client complaints, account closings, and training of trust employees. The Director will also have responsibility for reviewing and modernizing existing policies and procedures and ensuring same are followed by all trust employees. The Director of Trust Administration will represent the firm as a thought leader in the industry and may also be asked to speak publicly about the firm’s approach to managing trusts as well as related planning topics.

Requirements

Bachelor’s Degree required.
10 plus years of experience in one or more of the following areas: Trust Administration, Trust and Estate Planning, Private Wealth Management, Banking
Proficient with Personal Trust Law and Administration

Nice To Haves

JD a plus
LLM in tax law desired, but not required

Responsibilities

Act as a practice leader for the trust department on a nationwide basis, working in conjunction with separate Heads of Trust Administration in Delaware and Pennsylvania
Monitor developments and changes in laws affecting trusts, estates, and taxes and ensure trust department professionals are current on these developments and / or changes
Working with the Chief Fiduciary Officer, suggest and implement necessary changes to the operations and activities of trust officers, including fiduciary processes and procedures, automation of processes, and the group’s structure and staffing
Ensure the effective and consistent implementation of trust administration policy and procedures nationally
Provide training and support as needed to trust professionals (including support personnel) to ensure that services are delivered in a consistent and coordinated manner across the firm
Provide technical advice to senior management on matters concerning trust administration (in conjunction with the Chief Fiduciary Officer)
Partner with trust professionals, trust counsel and relationship and portfolio managers on fiduciary and related matters
Troubleshoot issues presented in the course of trust administration
Build and sustain a team of indirect and direct reports who are capable of delivering a high level of service to the company’s trust clients
Assess the performance of the trust department staff (performance management process, promotions, salary and bonus recommendations)
Participate as a senior trust subject matter expert regarding the trust department’s risk management and compliance responsibilities and the appropriate internal and external reporting of such matters
Participate and act as a trust subject matter expert at various internal Company committees
Participate in the management and oversight of the trust department’s budget and expenses
Work with Legal and Compliance to resolve issues that arise within trust administration
Responsible for staying abreast and implementing applicable rules and developments that have a regulatory impact on the fiduciary activities of the firm
As needed, work with internal and external auditors to ensure compliance with applicable policies and procedures.
Cultivate relationships with centers of influence (i.e. trust & estates attorneys)
Partner and strategize with senior management and business development officers on cultivation of prospects
Contribute, as needed, to the development of the business strategy for trust department’s growth and role with the firm, including marketing and related sales initiatives and related marketing materials
Coordinate with Market Teams the integrated delivery and awareness of services

Benefits

annual discretionary bonus
401(k) plan with a generous match
recognition rewards
comprehensive benefits package
competitive healthcare options
insurance
disability benefits
employee stock investment program
learning resources
career development programs
reimbursement for certain education expenses
paid time off (vacation / holidays / sick / leave / parental & caregiving leave / bereavement / volunteering / floating holidays)
motivational wellbeing program