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Premier Trust, Director - Account Opening Unit Manager - LA Based

Expired Job

Union Bank, N.A. Los Angeles , CA 90009

Posted 4 months ago


Premier Trust, Director - Account Opening Unit Manager, LA based

Discover your opportunity with Union Bank and become a part of one of the world's leading financial groups. Union Bank is a member of Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world with total assets of over $2.4 trillion (as ranked by SNL Financial, April 2016) and 140,000 colleagues in nearly 50 countries. In the U.S., we're 13,000 strong, working together to positively impact every customer, organization, and community we serve. At Union Bank, we aim to be the premier and most trusted West Coast bank, serving customers with high-touch, local delivery and global capabilities as we leverage our rich, 150-year history. This is all part of our inclusive, high-performing culture supported by competitive Total Rewards, including our cash balance pension plan. Join a team that's working to fulfill its vision to be the world's most trusted financial group.

Job Summary:

Reporting to the Managing Director of Premier Trust Services, the Account Opening and Closing Unit Manager is responsible for managing staff in a centralized environment and supervising all functions required for opening and closing accounts in accordance with Bank policy, procedures and regulatory requirements for all Investment Management & Trust (IM&T) products of Trust & Estate Services (TES). The incumbent is responsible for managing strategic initiatives for the unit in collaboration with management and developing procedures and workflow designs to increase efficiency and quality control of the account opening and closing functions. The incumbent must possess a strong knowledge of fiduciary products, regulatory requirements, process engineering, cross-sell, and the sales culture of a wealth management platform.

Major Responsibilities:

Account Opening and Closing Unit:

  • Increase efficiency by identifying and coordinating all functions required to open a new account and close an account for all IM&T products offered by TES

  • Continually evaluate and improve efficiency, accuracy, and quality control of: workflow design, work product, inquiry responsiveness, time required for new account set up and account terminations, transparency to relationship managers (RMs), coordination with other business units of the Bank and outside vendors

  • Oversee specific functions, including but are not limited to: maintaining contracts, forms and documentation utilized in the opening and closing process; setup, funding and safekeeping of assets; initial account coding; opening and closing tracking reports delivered to management and RMs; resolution of unusual or complicated barriers to account opening, account closing, and administrative procedures; coordination of Committee approval and pre-acceptance authorizations; and adhering to Bank Secrecy Act, Know Your Client Due Diligence, and Privacy requirements

  • Partner with RMs and sales staff to contact clients, center of influences, trust system / operations staff, outside vendors, management, etc. to research and respond to issues and ensure high quality client service

Risk Management:

  • Ensure strong focus on the Bank's soundness through a demonstrated knowledge of and sensitivity to the current regulatory environment, recognizing and proactively addressing risk (including but not limited to those associated with Bank Secrecy Act, anti-money laundering, consumer compliance and fair lending)

  • Actively manage the control environment to avoid losses

  • Ensure safekeeping of Bank and customer assets

  • Actively support and ensure data accuracy and integrity for responsible area

  • Effectively manage and proactively address risk in change activities

Supervise / Train / Mentor Direct Reports:

  • Manage and supervise staff and their work product to ensure adherence to the Bank's policies, procedures, the account governing document, risk controls and regulatory requirements

  • Manage staff, including interviewing, hiring and terminations; recommending salary changes and job promotions; and conducting counseling / performance reviews

  • Provide training to staff and conduct meetings to inform staff members of new developments or work procedures

  • Encourage, direct, couch, and mentor direct reports to develop and grow in their knowledge of trust administration and their careers

  • Address and resolve all personnel issues timely and appropriately.

  • Establish goals and objectives that support and conform to guidelines setup by the department.


We require:

  • Requires a minimum of 8+ years of management experience including 5 years of new account opening and account closing experience within in a fiduciary division of a bank

  • Background of trust administration, trust operations, and basic investment strategy knowledge

  • Working experience with 6 SIGMA concepts is highly valued.

  • Preferred at least one of the following: JD (Juris Doctorate) with estate planning, trust and probate administration experience and/or CTFA (Certified Trust and Financial Advisor)

  • Knowledge of and experience with fiduciary principles of closing personal trust accounts and administration of duties associated with estate settlements; coordinate funding of sub-trusts; prepare plans of distributions; ability to read and interpret complex trust instruments and dispositive provisions; make decisions based upon knowledge and research

  • Strong written and verbal communications skills

  • Ability to effectively plan, streamline and supervise work

  • Working knowledge of accounting principles and of trust tax laws as they apply to individuals and fiduciaries and requirements for new account openings and account closings

  • Solid working knowledge of SEI trust accounting system

The above statements are intended to describe the general nature and level of the work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.

We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.

A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.

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Premier Trust, Director - Account Opening Unit Manager - LA Based

Expired Job

Union Bank, N.A.