Director, Trust Administration Job at Franklin Templeton Investments
Fiduciary Trust International is a wealth management firm founded in 1931 by families for families, with a singular focus on growing and protecting our clients’ wealth through generations. We work closely with individuals, families and foundations to build and manage personalized investment portfolios, and to develop estate plans that extend wealth to future generations. And, we are part of Franklin Templeton, a global investment leader. That means we can combine a personalized experience with access to sophisticated research and investment solutions.
Position Summary:
Fiduciary Trust International is hiring a Director, Trust Administration to join the New York City office located at 280 Park Avenue.
HYBRID POSITION IN OUR NYC OFFICE
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.
RESPONSIBILITIES:
Oversee Fiduciary Activities
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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
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Monitor developments and changes in laws affecting trusts, estates, and taxes and ensure trust department professionals are current on these developments and / or changes
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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
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Ensure the effective and consistent implementation of trust administration policy and procedures nationally
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Coordinate with Account Services Team and Middle Office Group re: implementation of procedures
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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
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Provide technical advice to senior management on matters concerning trust administration (in conjunction with the Chief Fiduciary Officer)
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Partner with trust professionals, trust counsel and relationship and portfolio managers on fiduciary and related matters
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Troubleshoot issues presented in the course of trust administration
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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
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Assess the performance of the trust department staff (performance management process, promotions, salary and bonus recommendations)
Risk Management & Compliance
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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
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Participate and act as a trust subject matter expert at various internal Company committees
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Participate in the management and oversight of the trust department’s budget and expenses
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Work with Legal and Compliance to resolve issues that arise within trust administration
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Responsible for staying abreast and implementing applicable rules and developments that have a regulatory impact on the fiduciary activities of the firm
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As needed, work with internal and external auditors to ensure compliance with applicable policies and procedures.
Building our Brand/Growth Strategy
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Cultivate relationships with centers of influence (i.e. trust & estates attorneys)
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Partner and strategize with senior management and business development officers on cultivation of prospects
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Attend and speak at conferences, such as NYSBA and ABA
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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
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Coordinate with Market Teams the integrated delivery and awareness of services
QUALIFICATIONS:
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Bachelor’s Degree required. JD a plus
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LLM in tax law desired, but not required
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10 plus years of experience in one or more of the following areas: Trust Administration, Trust and Estate Planning, Private Wealth Management, Banking
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Proficient with Personal Trust Law and Administration
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Ability to ravel to other FTI offices as needed
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Ability to travel to various customer, vendor locations and industry conferences required
Along with base compensation, other compensation is offered such as a discretionary bonus, 401k plan, health insurance, and other perks. There are several factors taken into consideration in making compensation decisions including but not limited to location, job-related knowledge, skills, and experience. At Franklin Templeton, we apply a total reward philosophy where all aspects of compensation and benefits are taken into consideration in determining compensation. We expect the salary for this position to be $208,600 – $245,500 per year.
#LI-US
#Hybrid
#DIRECTOR
What makes Franklin Templeton unique?
In addition to the dynamic and professional environment at Franklin Templeton, we strive to ensure that our employees have access to a competitive and valuable set of
Total Rewards
—the mix of both monetary and non-monetary rewards provided to you in recognition for your time, talents, efforts, and results.
Highlights of our benefits include:
- Three weeks paid time off the first year
- Medical, dental and vision insurance
- 401(k) Retirement Plan with 85% company match on your pre-tax and/or Roth contributions, up to the IRS limits
- Employee Stock Investment Program
- Tuition Assistance Program
- Purchase of company funds with no sales charge
- Onsite fitness center and recreation center*
- Onsite cafeteria*
- Only applicable at certain locations
We believe that being a good corporate citizen is good business. To us, corporate citizenship means being accountable, serving our clients, being an employer of choice, managing our environmental impact, and
supporting our communities
. An emphasis on corporate citizenship is embedded in our culture and values, and is an important element of how we achieve success.
We are also committed to your learning and development with resources focused around Experience, Exposure, and Education, to help you achieve your professional development goals.
Franklin Templeton is an Equal Opportunity Employer. We are committed to equal employment opportunity for all applicants and existing employees and we evaluate qualified applicants without regard to ancestry, age, color, disability, genetic information, gender, gender identity, or gender expression, marital status, medical condition, military or veteran status, national origin, race, religion, sex, sexual orientation, and any other basis protected by federal, state, or local law, ordinance, or regulation. We invite you to visit us at
Franklin Templeton Careers
to learn more about our company, career opportunities and recruitment process.
Franklin Templeton is committed to fostering a
diverse and inclusive
environment. If you believe that you need an accommodation to search for, or apply for, one of our positions please send an email to
accommodations@FranklinTempleton.com
. In your email, please include the accommodation you are requesting and the job title and job number you are applying for. It may take up to three business days to receive a response to your request. Please note that only requests for accommodations will receive a response.
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