Position Summary
The Private Client Department at Day Pitney LLP is seeking a skilled and detail-oriented individual to join our firm as a Senior Trust Compliance & Administration Specialist. Day Pitney has one of the largest private client practices in the United States, with over 85 estate planning attorneys. The Private Client Department offers professional staff boundless opportunities for career growth and technical skill development for a candidate with potential, ambition and the right cultural fit.
The ideal candidate for Senior Trust Compliance & Administration Specialist will have 7+ years of work experience in personal trust administration and compliance. They will ensure the firm's compliance with applicable trust principles and internal policies by orchestrating and supervising the Department's periodic trust account reviews.
This is a multi-faceted role, with elements of trust administration but an emphasis on trust compliance. This is a "player-coach" role, where you must perform certain daily-work functions while also supervising (providing direction to) and possibly training other Team members. There may be timekeeping requirements for certain aspects of this role, where you will track your time and apply it to client matters.
The ideal candidate will have access to sensitive client information and therefore must demonstrate good judgment and discretion at all times. Trust Compliance & Administration Specialists at the firm manage complex, detailed work-projects, and must be unintimidated by deadlines.
Responsibilities
- Collaborate with and support firm's trustees in addressing client inquiries
- Orchestrate and supervise the firm's periodic account review (PAR) of personal trust accounts to ensure compliance with trust regulations and internal policies. This includes compiling and examining client accounting, investment and trust administration records
- Maintain accurate trust system records of compliance activities and ensure a timely compliance-review schedule
- Identify potential compliance risks and communicate them to your supervisor
- Implement control mechanisms to manage risks associated with the administration of personal trust accounts
- Review trust account inventory records including insurance policies, real estate and stock holdings, partnership, etc., for accuracy and correct as needed
- Collaborate with the firm's Trust Operations Team, Trust Administration Team and Private Client Attorneys to update policies, procedures and internal controls related to personal trust administration
- Provide training to the firm's Trust Operations and Trust Administration personnel regarding compliance requirements, best practices, emerging trends, etc.
- Respect and model the firm's values
Education, Experience and Qualifications
- 7+ years of work experience administering trust accounts
- Undergraduate degree in business, finance or a related field required; JD considered a significant "plus"
- Must be conversant in fiduciary administration, trust accounting, investment and compliance terms, jargon and software
- Strong understanding of relevant regulations governing personal trust administration and fiduciary duties
- Must have experience summarizing and analyzing trust agreements, administering personal trust accounts; experience with fiduciary income tax matters a "plus"
- Meticulous attention to detail and a strong commitment to accuracy in reviewing documents, analyzing data, and preparing compliance reports
- Experience with Microsoft Office, PDF software, tax software and trust accounting software (e.g., OneSource, FastTax, ProSystems, SEI, FIS, AccuTech, SunGard, etc.)
- Excellent analytical and problem-solving skills to identify compliance risks, evaluate complex legal and regulatory issues and propose effective solutions
- High ethical standards and integrity, with the ability to handle confidential information appropriately and maintain a high level of professionalism
