Fiduciary Specialist

U.S. Bank•Las Vegas, NV

22h

About The Position

Fiduciary Specialists at U.S. Bank oversee and support the sound operation of the Personal Trust (PT) business, including Ascent, Private Wealth Management, and Wealth Management segments. This role involves applying fiduciary knowledge and judgment to ensure PT activities comply with applicable laws, regulations, policies, and procedures related to account activity. Specialists are responsible for recognizing and resolving fiduciary risk issues, providing advice and guidance on the bank's fiduciary responsibilities, and serving as subject matter experts on trust and fiduciary matters. They partner with Business, Legal, and Risk colleagues to implement changes in response to identified risks, statutory, and regulatory changes. Key duties include developing and maintaining procedures for fiduciary oversight, collaborating with Risk colleagues on controls, and leading customer remediation, audit, and regulatory change projects. The Fiduciary Specialist also supports high-level client service through responsive and diplomatic interaction with internal and external stakeholders. The role requires maintaining extensive knowledge of relevant laws and regulations for assigned product specialties or geographic areas, analyzing and interpreting regulatory rules, reviewing internal and external reports for compliance, conducting compliance reviews, managing exceptions, and handling customer complaints. Additionally, they are involved in developing, implementing, and distributing regulatory/compliance policies and procedures, providing regulatory information to management, maintaining compliance records, assisting in compliance program development, and conducting training and monitoring.

Requirements

Bachelor's degree, or equivalent experience
Ten or more years of related experience
Two or more years of managerial experience
Exhibit knowledge of fiduciary duties and applicable laws, including trust and tax law, estate planning techniques, etc.
6+ years fiduciary experience (administration, law practice, fiduciary advice)
6+ years Wealth Management business experience - any level (wealth advisor, tax, account administration, management, sales, etc.)

Nice To Haves

Advanced degree or applicable certification (e.g., JD, CPA, MBA, CTFA)
Extensive knowledge of federal, state, and local laws and regulations
Comprehensive knowledge of the products, policies, operations, and procedures related to the business unit
Strong organization, analytical and project management skills
Strong planning, implementation, and negotiation skills
Effective interpersonal, verbal and communication skills
Strong leadership and management skills
Proficient computer skills, especially Microsoft Office applications

Responsibilities

Oversee and support the sound operation of U.S. Bank's Personal Trust (PT) business, including Ascent, Private Wealth Management, and Wealth Management segments
Apply fiduciary knowledge and judgement to ensure PT activities are performed in compliance with applicable laws, regulations, policies and procedures, in relation to account activity
Recognize fiduciary risk issues and seek appropriate resolution
Provide advice and guidance regarding the bank's fiduciary responsibilities
Serve as a subject matter expert regarding trust and fiduciary matters
Partner with Business, Legal and Risk colleagues to implement changes in response to identified risks, statutory and regulatory changes
Develop and maintain procedures for fiduciary oversight
Partner with Risk colleagues to maintain related controls
Provide leadership for customer remediation, audit, and regulatory change projects
Support the delivery of high-level client service by acting with responsiveness, diplomacy, and tact with both internal & external stakeholders
Maintain a high degree of knowledge of appropriate laws and regulations for an assigned product specialty or geographic area
Analyze and interpret Federal, State, and other regulatory authorities' rules and regulations
Review and analyze internal and external regulatory reports and coordinate with responsible parties to ensure compliance with applicable regulations
Conduct compliance reviews
Manage compliance exceptions
Investigate and respond to customer complaints
Be actively involved in the development, implementation, and distribution of all regulatory or compliance-based policies and procedures
Provide current regulatory information to management and applicable business units
Maintain records to meet compliance requirements
Assist in the development of compliance programs and conduct training and monitoring

Benefits

Healthcare (medical, dental, vision)
Basic term and optional term life insurance
Short-term and long-term disability
Pregnancy disability and parental leave
401(k) and employer-funded retirement plan
Paid vacation (from two to five weeks depending on salary grade and tenure)
Up to 11 paid holiday opportunities
Adoption assistance
Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law
Incentive and recognition programs
Equity stock purchase
Pension