Guardianship Advisor

Fifth Third Bank•Chicago, IL

About The Position

Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. GENERAL FUNCTION On behalf of Fifth Third Bank as Trustee, Guardian of the Estate, Agent or Custodian, understand and administer the most complex fiduciary accounts in accordance with the terms of their governing documents, if applicable, or as directed by the court. A typical client may have many of the following: structured settlements, complex medical needs, payroll obligations, estate and tax planning needs which much be undertaken by the Guardian of the Estate, a team of legal and other professional advisors, a personal residence which must be managed for the ward/beneficiary, those dependent on the ward/beneficiary or those who care for the ward/beneficiary. Manage the client relationships (coordinating services, building relationships with clients and their immediate and extended family or care teams, and functioning as the clients' trusted advisor) directly with the client, the client’s immediate family, legal counsel and tax professionals. Be responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Be accountable for always doing the right thing for customers, colleagues and ensure that actions and behaviors drive a positive customer experience. Actively participate with the Private Bank team to develop, interpret, communicate and facilitate complex estate planning matters as part of the advice-based solutions presented to clients. Understand and implement all internal policy and procedures including the ongoing review and update or creation of existing policies and procedures specific to guardianship administration.

Requirements

Bachelor’s degree required; significant experience and expertise within Trust
3-5 years fiduciary client service/sales experience
Professional communication skills
Knowledge of trust administration, estate planning strategies, and income and estate tax matters

Nice To Haves

CTFA or working toward (preferred)

Responsibilities

Serve as a trusted advisor by developing relationships with the clients, stakeholders, and families, while understanding the guardianship process and ensuring obtainment of and compliance with court orders and coordinating internal and external advisors to meet those needs.
Coordinate fiduciary services for approximately 45-60 guardianship clients.
Administer Special Needs Trusts and probate court supervised Trusts often with discretionary income and principal payments distributed on behalf of the disabled individual or minor among multiple family members and outside vendors while managing financial risk and knowledge of applicable government benefits restrictions on distribution.
Execute the terms of any estate plan or documents in which Fifth Third Private Bank serves as Trustee, Guardian or Agent for Guardian, often exercising broad discretion in determining the minor or disabled adults’ best interests.
Serve as a resource to the family to navigate the complex guardianship process and provide counsel on court expectations of the Guardian of the Estate and primary function of the assets of the disabled adult or minor—to support that disabled adult and minor child.
Work closely with outside counsel and GALs, where applicable, to manage the risk associated with this unique fiduciary role while providing best in class customer service to the disabled adult and/or minor child.
Review and secure assistance with outside payroll vendor to manage the relationship’s payroll needs within the bank’s risk appetite.
Work closely with Unique Asset team to manage the estate owned residence to provide for an appropriate and safe living arrangement, overseeing modifications and ongoing daily property management where necessary.
Retain at least 95% of relationships in book of business with the assistance of the WMA team, Private Bankers, and Product Specialists.
Review daily trust activity.
Ensure compliance with all processes and procedures- work with Senior Guardianship Advisors and Guardianship Advisors to ensure all documentation is retained.
Work with Senior Guardianship Advisors, Guardianship Advisors, and Trust Tax to ensure proper tax reporting.
Coordinate with Middle Office for account opening, account Closings, cash transactions and asset transfers.
Complete annual administrative account reviews for individual accounts and supervise the team's completion of their annual administrative account reviews.
Ensure all internal compliance and proper documentation requirements are met for all accounts under responsibility, consistent with internal fiduciary policies and procedures regarding business acceptance, discretionary actions, and all other bank policies, procedures and guidelines.
Promptly marshal the ward's assets providing for their proper management.
Review the ward's financial history in order to assist the Portfolio Management team to ensure proper investment goals, quantify liabilities, and raise sufficient cash for administrative expenses, debts and taxes.
Plan for accurate and timely tax compliance, working with internal partners and outside attorneys and accountants, in order to achieve the lowest combined taxes (including Estate, Gift, Generation Skipping Transfer, Personal and Fiduciary Income Taxes).
Respond to IRS and internal auditors in conjunction with tax professional.
Coordinate litigation review or initiate litigation with the review of Fifth Third Bank Legal Department.
Communicate regularly with clients, responding promptly to their inquiries and concerns, and anticipating their objectives and needs, with a view to enhancing the customer's relationship, including efforts to retain recapturable assets, pursuit of new business opportunities, and documenting such efforts via client management software and pipeline reporting.
Optimize opportunities to recapture and/or create new business.
Identify accounts which could benefit from the involvement of senior management in enhancing the client relationship with the bank.
Prospect for clients by sourcing and building a pipeline of opportunities.
Solicit and receive referrals from clients, internal business partners and Centers of Influence (COIs).
Identify opportunities and partner with the WMAs, internal business partners and COIs in the sales process to maximize new business opportunities.
Demonstrate highly developed client contact and relationship management skills, including the development of targeted business plans.
Manage timely development of and communication about pipeline items that you are originating.
Begin to generate client and COI face-to-face meetings of five per week, including entry into CRM.
Coordinate, assign, and supervise ongoing daily work of Guardianship Specialists.