Position Summary
Responsible for the firm-wide delivery of Day Pitney LLP Private Client Department's (PCD) wealth administration services. The Director has overall responsibility for the procedures, processes, systems, and staff necessary to successfully grow revenues associated with firm attorneys serving clients as trustees.
This is Leadership position. The Director must possess the credibility, communication skills, energy, focus, and industry knowledge to lead the firm's team of Trust Administration, Trust Operations and Trust Tax professionals. The Director also must supply the vision, influence and motivation required to elevate team's contribution to the firm.
Responsibilities
- Business Expansion: Actively supports Private Client Department attorneys with their business expansion efforts. Identifies solutions (staff and/or technology) for new revenue-generating opportunities. Listens, responds and innovates when presented with client requirements. Collaborates with other departments around the firm, for example on such things as marketing and branding efforts.
- Client-Facing Duties: Attends client meetings to support attorneys serving as trustees. Has responsibility for implementing decisions, such as reallocating a client's portfolio between investment managers. Has the technical ability to analyze trust instruments and understand most aspects of trust administration, investment management and fiduciary tax. Has the skills to share this knowledge with staff through training and development efforts.
- Trust Operations Management: Provides management oversight, leadership and succession planning for the firm's Trust Operations team, such that it continues expanding its knowledge of SEI's trust accounting platform. Has overall responsibility for the department's performance, including the development of and adherence to policies, procedures and industry best practices. Displays a deep working knowledge of all aspects of fiduciary accounting especially with outside investment management. Oversees the Department's vendor relationships, negotiates contracts, rates, and services, especially with respect to SEI's trust software and services.
- Staff Development and Training Programs: Has overall responsibilities for training and development of Trust Administration, Trust Operations and Trust Tax professionals. Is responsible for Job Descriptions, representing the department during hiring and annual performance reviews. Works with the department's attorney leadership on key-staff person succession planning and key-staff continuing education (Cannon Trust School, etc.).
- Compliance and Tax: Serves on the firm's Trust Oversight Committee (TOC), which provides compliance oversight of firm-administered trust accounts. Implements best practices and fiduciary guidelines established by the TOC, including risk management policies, investment policies and procedures, trustee succession policies, fiduciary training, peer review mechanisms, etc. Oversees the Boston Tax Operations Department, its capabilities, cost-structure, high operating standards and morale. Has working familiarity with tax-related vendors and services, including FastTax (aka OneSource Trust Tax), the SEI to OneSource interface and CCH ProSystemFX.
- Firm-Related Responsibilities: With guidance from the firm's Finance Department, creates and administers annual expense budgets. Acts as communication and problem-solving liaison between the department and other Firm departments.
Education Required
A Bachelors Degree in Accounting or Business Administration is required.
Experience Required
A minimum of 10 years of similar position experience, e.g., senior-level management in a law-firm owned trust department, demonstrated leadership, business administration and professional development acumen, is required.
Perspective Required
A big picture thinker, who combines technical knowledge of trust operations, trust administration and trust accounting software with the ability to recognize and capture new revenue opportunities across the whole firm.
Skills Required
Knowledge and experience in planning and operations management in a large, diverse organization, preferably in a law-firm owned trust department. Excellent interpersonal and communication skills, exceptional organizational and planning ability, and strong presentation skills required. Ability to build and lead a team committed to exceptional client service. Confidential handling of sensitive information required. Must understand the difference between management and leadership, and know why the firm seeks a leader.
