Fiduciary Specialist

U.S. Bank National Association•Denver, CO

22h

About The Position

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One. Fiduciary Specialists oversee and support the sound operation of U.S. Bank's Personal Trust (PT) business, including Ascent, Private Wealth Management, and Wealth Management segments. Fiduciary Specialists 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. Fiduciary Specialists develop and maintain procedures for fiduciary oversight, partner with Risk colleagues to maintain related controls, and provide leadership for customer remediation, audit, and regulatory change projects. In executing the above responsibilities, the Fiduciary Specialist supports the delivery of high-level client service by acting with responsiveness, diplomacy, and tact with both internal & external stakeholders. Responsible for maintaining a high degree of knowledge of appropriate laws and regulations for an assigned product specialty or geographic area. Analyzes and interprets Federal, State, and other regulatory authorities' rules and regulations. Reviews and analyzes internal and external regulatory reports and coordinates with responsible parties to ensure compliance with applicable regulations. Conducts compliance reviews, manages compliance exceptions, and investigates and responds to customer complaints. Is actively involved in the development, implementation, and distribution of all regulatory or compliance-based policies and procedures. Provides current regulatory information to management and applicable business units and maintains records to meet compliance requirements. Assists in the development of compliance programs and conducts 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, and 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 and 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