Assistant Trust Officer

Citigroup Inc. Sioux Falls , SD 57101

Posted 2 months ago

The Trust Fid Assoc Intmd Analyst is a developing professional role. Deals with most problems independently and has some latitude to solve complex problems. Integrates in-depth specialty area knowledge with a solid understanding of industry standards and practices. Good understanding of how the team and area integrate with others in accomplishing the objectives of the subfunction/ job family. Applies analytical thinking and knowledge of data analysis tools and methodologies. Requires attention to detail when making judgments and recommendations based on the analysis of factual information. Typically deals with variable issues with potentially broader business impact. Applies professional judgment when interpreting data and results. Breaks down information in a systematic and communicable manner. Developed communication and diplomacy skills are required in order to exchange potentially complex/sensitive information. Moderate but direct impact through close contact with the businesses' core activities. Quality and timeliness of service provided will affect the effectiveness of own team and other closely related teams.

Responsibilities:

  • The Private Bank at Citi (CPB) is part of the Institutional Clients Group and offers a wide range of products and solutions, including investment strategies, banking and lending, trust and specialized services.The Private Bank delivers solutions to help meet the individual, family and business needs of over 10,000 ultra-high net worth clients around the world. The Private Bank is focused on clients with a minimum net worth of $25mm and serves 40% of the world's billionaires and their families.

  • CBNA is the primary legal entity for Citi, providing products and services to consumers, financial institutions and corporate clients around the world. In the past, Citi has provided most of its internal reporting on a business by business basis. With the changes in the regulatory environment, strong legal entity reporting and governance has become essential. This team is responsible for ensuring that CBNA has the appropriate governance and control infrastructure to meet the demand for legal entity planning, execution, information management and the ever-evolving regulatory environment.

  • Under supervision of a Fiduciary Services Head, this position requires administration of UNHW ongoing fiduciary relationships which entails working with clients to strategize toward the preservation and continued growth of trust assets while achieving their specific trust and estate planning objectives and introduces clients to a broad range of investment management opportunities.

  • An individual in this role will be expected to:

  • Manage an existing book of trust and estate accounts: types of accounts include revocable and irrevocable trusts, testamentary trusts, ILITS and IRA accounts, various types of charitable trusts, estate accounts, and agency accounts, both discretionary and directed; initiate investment management of the accounts by coordinating with Private Bankers and Investment Counselors and utilizing both internal and external investment managers including equities, fixed income, mutual funds, ETFs, private equities, hedge funds and real estate vehicles to ensure the appropriateness of the account allocation based on the investment objective and risk tolerance of the account; knowledge and understanding of special assets such as promissory notes, operating agreements, LLC's, LP's, loan holds, life insurance policies, real estate interests and oil and gas interests; working with both internal and external tax preparers to complete and file tax returns for the various types of accounts, including Forms 1041, 5227, 990PF, 1042S, and 1099; review of a discretionary distribution request which includes collection of financial and tax documentation from the client together with the interpretation of the terms of the trust document to determine the appropriateness of the request; review and update information for each account for the annual administrative review which includes 13 major categories.

  • Assess the client's overall estate and tax planning needs: including the knowledge and skill to review legal and trust documentation and have an understanding of the provisions in order to effectively assist the client and their advisors in achieving specific trust and estate objectives.

  • Compliance with legal requirements and internal procedures in relation to account activity: including identification and reporting to our Senior Risk Committee and management of the risk of financial loss and/or damage to Citi's reputation arising from the activities within the Citi Trust businesses; Communicating with internal and external auditors as well as state examiners; working with Investment Management Oversight on the identification of and diversification of a discretionary portfolio's exposure to a single security, issuer or industry.

  • Communication: Communicate effectively with the client and/or the client's attorney on all trust and estate matters and attending in person client meetings and investment reviews; interact with and establish a working relationship with the Private Banking and Investment team in regard to the trust and overall client relationship including timely and accurate responses to inquiries.

  • Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.

Qualifications:

  • 2-5 years relevant experience

  • Experience in estate or trust management and administration. Strong knowledge and proven technical proficiency in legal, investment and tax issues relative to trust and/or estate management and administration. Proven strong communication

  • CFTA preferred. Experience with Fiduciary Income Tax.

Education:

  • Bachelor's/University degree or equivalent experience

Grade :All Job Level

  • All Job FunctionsAll Job Level

  • All Job Functions

  • US

Time Type :Full time


Citi is an equal opportunity and affirmative action employer.

Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.

Citigroup Inc. and its subsidiaries ("Citi") invite all qualified interested applicants to apply for career opportunities. If you are a person with a disability and need a reasonable accommodation to use our search tools and/or apply for a career opportunity CLICK HERE.

To view the "EEO is the Law" poster CLICK HERE. To view the EEO is the Law Supplement CLICK HERE.

To view the EEO Policy Statement CLICK HERE.

To view the Pay Transparency Posting CLICK HERE.


icon no score

See how you match
to the job

Find your dream job anywhere
with the LiveCareer app.
Mobile App Icon
Download the
LiveCareer app and find
your dream job anywhere
App Store Icon Google Play Icon
lc_ad

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Community Wealth Management Trust Advisor / Personal Trust Relationship Manager 3 Sioux Falls SD

US Bank

Posted 1 week ago

VIEW JOBS 9/11/2019 12:00:00 AM 2019-12-10T00:00 Develops, manages, and retains client relationships for Personal Trust area in Community Banking. Manages relationship with clients to ensure clients' financial needs are met and exceeded. Provides expert financial advice and counsel to clients and prospective clients especially in the areas of personal trust, private banking, and investments. Presents alternative solutions for a variety of complex business situations. Calls on potential and/or existing clients to develop new business and increase or retain relationships with current clients. Manages trust relationships, ensuring client objectives are met and are consistent with governing documents and fiduciary administration principles. Analyzes economic and industry market trends to identify potential business opportunities and high-risk situations. Actively networks in community to identify and capitalize on new business development opportunities. Basic Qualifications * Bachelor's degree, or equivalent work experience * Five to eight years of experience in Personal Trust banking industry Preferred Skills/Experience * Excellent personal trust relationship management, financial planning, and new business development/sales skills * Advanced knowledge of personal trust products and services * Thorough knowledge of private banking, investment and other U.S. Bancorp products and services * In-depth knowledge of fiduciary services * Strong analytical and problem-solving skills * Excellent presentation, verbal and written communication skills * Ability to make critical decisions independently * Previous involvement in financial planning activities US Bank Sioux Falls SD

Assistant Trust Officer

Citigroup Inc.