Torchora
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Key Responsibilities and Required Skills for Trust Manager

💰 $120,000 - $195,000

FinanceWealth ManagementLegalFiduciary Services

🎯 Role Definition

As a Trust Manager, you are the cornerstone of our fiduciary services team, entrusted with the comprehensive management and administration of trusts, estates, and agency accounts. This pivotal role requires a unique blend of deep legal and financial acumen, exceptional interpersonal skills, and unwavering ethical judgment. You will act as a trusted advisor, interpreting complex legal documents, making critical discretionary decisions, and navigating sensitive family dynamics to ensure the seamless execution of our clients' legacies. Your primary objective is to deliver a superior client experience while meticulously managing risk and ensuring strict adherence to all fiduciary, legal, and regulatory standards.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Trust Officer / Associate Trust Officer
  • Trusts & Estates Paralegal
  • Fiduciary Accountant
  • Wealth Strategy Associate

Advancement To:

  • Senior Trust Manager / Senior Fiduciary Advisor
  • Fiduciary Team Lead / Market Trust Director
  • Head of Fiduciary Services / Regional Trust Executive
  • Senior Wealth Strategist

Lateral Moves:

  • Private Wealth Advisor
  • Estate Planning Specialist
  • Philanthropic Advisor
  • Fiduciary Compliance Officer

Core Responsibilities

Primary Functions

  • Manage a diverse and complex portfolio of fiduciary relationships, including revocable and irrevocable trusts, estates, guardianships, and investment agency accounts.
  • Serve as the primary point of contact for high-net-worth clients, beneficiaries, and their external advisors, such as attorneys and accountants, fostering deep, long-term relationships built on trust and expertise.
  • Conduct comprehensive annual administrative and investment reviews for all assigned accounts to ensure adherence to governing document provisions, applicable laws, and internal policies.
  • Interpret and analyze complex wills, trust agreements, and other estate planning documents to ensure precise and compliant administration.
  • Exercise sound fiduciary judgment in managing discretionary distribution requests, carefully documenting the decision-making process and rationale.
  • Oversee all facets of estate settlement, from the initial probate process and marshaling of assets to the payment of debts and expenses, tax filings, and final asset distribution.
  • Proactively identify and mitigate potential fiduciary risks by staying abreast of legal, regulatory, and tax changes affecting trust administration.
  • Collaborate closely with internal investment, tax, and legal partners to develop and implement integrated wealth management strategies that align with the client's objectives.
  • Manage unique and hard-to-value assets held in trust, such as closely-held business interests, real estate, and private equity, coordinating with specialists for valuation and management.
  • Ensure the timely and accurate preparation and review of fiduciary accountings, statements, and federal and state tax returns (e.g., Form 1041, 706, 709).
  • Facilitate client meetings to discuss account administration, investment performance, and strategic planning, effectively communicating complex concepts in a clear and understandable manner.
  • Lead the onboarding process for new fiduciary accounts, ensuring all legal documentation is in place and client expectations are clearly established.
  • Resolve complex client inquiries and sensitive family situations with diplomacy, empathy, and professional integrity.
  • Participate actively in Fiduciary and Investment Committee meetings, presenting account reviews and recommending discretionary actions for committee approval.
  • Mentor, train, and provide expert guidance to junior trust officers and support staff to foster team development and ensure consistent service quality.
  • Cultivate new business opportunities by expanding services to existing clients and actively participating in business development efforts with wealth advisors and external partners.
  • Ensure all account activities are meticulously documented and comply with internal audit standards and regulatory requirements, including OCC Regulation 9.
  • Manage the termination and distribution of trusts and estates, ensuring a smooth and accurate transition of assets to beneficiaries.
  • Review and approve all fiduciary-related payments and expenses from accounts, ensuring they are appropriate and in line with the terms of the governing document.
  • Engage in continuous professional development to maintain an expert level of knowledge in trust law, taxation, investments, and wealth planning trends.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis for portfolio-level insights.
  • Contribute to the organization's data strategy and roadmap for fiduciary services.
  • Collaborate with business units to translate data needs into engineering requirements for trust platforms.
  • Participate in sprint planning and agile ceremonies within the data and technology teams to enhance fiduciary systems.
  • Assist in developing and refining internal policies, procedures, and best practices for trust administration.

Required Skills & Competencies

Hard Skills (Technical)

  • Expertise in Trust & Estate Law: Deep understanding of fiduciary principles, probate codes, and the Uniform Prudent Investor Act (UPIA).
  • Fiduciary Taxation: Proficiency in federal and state estate, gift, and generation-skipping transfer taxes, as well as fiduciary income tax (Form 1041).
  • Trust Administration Software: Experience with fiduciary accounting platforms such as SEI Trust 3000, AddVantage, FIS Global Plus, or similar systems.
  • Investment Management Principles: Solid understanding of asset allocation, risk management, and investment strategies suitable for trusts.
  • Financial Planning Acumen: Knowledge of retirement, insurance, and comprehensive wealth planning concepts.
  • Regulatory Compliance: Familiarity with banking regulations, particularly OCC Regulation 9, AML, and KYC requirements.
  • Estate Settlement Process: Comprehensive knowledge of the entire estate administration lifecycle, from probate to final accounting.
  • Microsoft Office Suite: Advanced proficiency, particularly in Excel for financial analysis and Word for client correspondence.

Soft Skills

  • Client Relationship Management: Proven ability to build and maintain trusted, long-term relationships with high-net-worth individuals and families.
  • Empathy and Interpersonal Skills: Ability to handle sensitive family situations and personal matters with compassion, discretion, and professionalism.
  • Analytical & Problem-Solving Skills: Exceptional ability to analyze complex legal documents and financial situations to devise effective solutions.
  • Communication Prowess: Superior written and verbal communication skills, with the ability to explain complex topics clearly to a diverse audience.
  • Unwavering Integrity & Ethics: A strong ethical compass and commitment to acting in the best interest of the client at all times.
  • Attention to Detail: Meticulous and highly organized approach to account administration and documentation.
  • Sound Judgment & Decision-Making: Confidence in making critical discretionary decisions and the ability to articulate the rationale behind them.
  • Negotiation & Conflict Resolution: Skill in mediating disputes and achieving consensus among beneficiaries and stakeholders.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's Degree from an accredited college or university.

Preferred Education:

  • Juris Doctor (J.D.)
  • Master of Business Administration (MBA)
  • Professional Certifications: Certified Trust and Fiduciary Advisor (CTFA), Certified Financial Planner (CFP®), or Chartered Financial Analyst (CFA).

Relevant Fields of Study:

  • Finance
  • Law
  • Business Administration
  • Accounting

Experience Requirements

Typical Experience Range: 7-10+ years of direct experience in trust administration, fiduciary management, or a related role within a bank trust department, law firm, or family office.

Preferred: Demonstrated experience managing complex fiduciary relationships for high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients. Proven track record in business development and client retention.

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