Family Wealth Sr Fiduciary Advisor

JOB BRIEF (PURPOSE)

The Sr. Fiduciary Advisor is primarily responsible for fulfilling the fiduciary responsibilities of KeyBank by providing client advisory services to Ultra High Net Worth (UHNW) clients with a net-worth greater than 25MM and their beneficiaries. As a member of the Family Wealth relationship management team, they proactively collaborate with team members to build insights and solutions to attract, retain and grow UHNW client relationships. This role is entrusted with the responsibility of delivering the Family Wealth standard in ensuring consistent, sophisticated advisory delivery, while managing fiduciary risk. For Family Wealth legacy relationships, the Fiduciary Advisor serves as the primary point of contact and manages the day-to-day services and team interactions, in such cases, the role is responsible for the coordination and delivery of all Family Wealth services and ensures the client receives an industry leading family office experience.

While serving UHNW clients, the Fiduciary Advisor also identifies opportunities to protect, grow and transition family wealth. They are charged with retaining and deepening client relationships.

ESSENTIAL JOB FUNCTIONS

Advisory

• Leads the delivery of fiduciary advice as part of client servicing and execution of the client experience.
• Develops a strong understanding of family relationships and the needs of current clients as well as beneficiaries.

• Obtain and reviews and monitors all estate planning documents periodically to ensure that they fit individual client's current circumstances.
• Analyzes and interprets legal instruments to determine duties and responsibilities of the bank and to provide well-coordinated estate, tax, and financial planning alternatives to meet client's needs.

• Facilitate the estate, tax, and philanthropic planning process for all relationships regardless of whether Key serves as trustee.
• Identifies a potential trust and estate tax-related issues and works with the client and external advisors to resolve.
• Collaborates with external client advisors (attorneys, accountants, etc.) to deliver advice.

Growth- Book of Business

• Works closely with the Family Wealth team to identify and prioritize opportunities to deepen relationships.
• Identifies Investment Management and Trust Opportunities as well as any other banking, lending, or insurance needs.
• Fosters close business relationships to develop client loyalty and new business opportunities.

• Assess client revenue opportunity based on complexity and service required. Actively participate in pricing conversations for new KPB opportunities and proactively seek for opportunities to reduce discounts on existing client pricing to move revenue closer to the national schedule.

• Leads the relationship development and engagement for beneficiaries and legacy relationships.
• Leads the onboarding process for new clients in partnership with the Family Wealth team.
• Demonstrates community leadership through active participation on boards and professional organizations.

Client Servicing and Retention

• Responsible for engaging appropriate fiduciary partners to support administration or expertise in the delivery of client advice.
• If appropriate, such as in the case of legacy relationships, may function as the lead contact on a UHNW relationship while engaging a Relationship Manager to ensure that a complete and positive client experience is achieved and maintained.
• Responsible for retaining and deepening the relationship with a client including the next generation.
• Responsible for contributing to the development of the annual client wealth plan and actively participates in the execution.

Fiduciary Expertise and Trust Administration

• Demonstrates experience working directly and independently with clients and families with a broad array of estate and financial planning issues which often arise with UHNW clients (including but not limited to distribution planning, philanthropic goals and tools, retirement planning)
• Demonstrates awareness of state specific estate and tax planning issues
• Maintains deep expertise in fiduciary, investment, tax, and other related wealth issues by keeping current as to estate and tax law changes through legal education opportunities.
• Shares intellectual capital with the Family Wealth Team as part of the pre-call meetings.
• Administers complex accounts with a proactive, disciplined, consistent and comprehensive approach.

Compliance

• Fulfills Key's fiduciary responsibilities with utmost adherence to all internal fiduciary policies and procedures, regulatory and legal requirements.
• Anticipates and mitigates risk on assigned accounts.
• Assumes accountabilities for all delegated fiduciary administrative work on assigned accounts.
• Advises relationship managers and all other partners on all internal fiduciary issues.
• Work closely with Regional Trust Director and applicable Family Wealth team members on pricing, client service, compliance, and litigation issues, as needed and appropriate

REQUIRED QUALIFICATIONS

• Experience working with high-net-worth clients.
• Deep tax, investment, estate planning, business succession or fiduciary experience
• Excellent interpersonal and communications skills (both written and verbal) on full spectrum of client and COI personality profiles.
• Demonstrated dedicated commitment and proven track record in cultivating existing client relationships with a view toward revenue enhancement and profitability.
• Professional Designation preferred - JD, CPA, LLM , CTFA , CFP or advanced degree as appropriate.
• Self-motivated, goal and results driven.
• Demonstrated ability to be accountable for a process and/or delivery from end to end.

COMPETENCIES/SKILLS

Client Focus - Is dedicated to meeting the expectations and requirements of internal and external customers; gets first-hand client information and uses it for improvements in products and services; acts with client in mind; establishes and maintains effective relationships with and gains their trust and respect.

Action Oriented - Enjoys working hard; is action oriented and full of energy for the things he/she sees as challenging; not fearful of acting with a minimum of planning; seizes the more opportunities than others.

Business Acumen- Know how businesses work; knowledgeable in current and possible future policies, practices, trends, and information affecting his/her business and organization; knows the competition; is aware of how strategies and tactics work in the marketplace.

Creativity - Comes up with a lot of new and unique ideas; easily makes connections among previously unrelated notions; tends to be seen as original and value-added in brainstorming settings.

Functional / Technical Skills - Has the functional and technical knowledge and skills to do the job at a high level of accomplishment.

Intellectual Horsepower - Is bright and intelligent; deals with concepts and complexity comfortably; described as intellectually sharp, capable, and agile.

Problem Solving - Uses rigorous logic and methods to solve difficult problems with effective solutions; probes all fruitful sources for answers; can see hidden problems; is excellent at honest analysis; looks beyond the obvious and doesn't stop at the first answers.

Presentation Skills - Is effective in a variety of formal presentation settings; one-on-one, small and large groups, with peers and superiors, clients, prospects and centers of influence; is effective both inside and outside the organization, on both cool data and hot and controversial topics; will show and project confident, caring demeanor in client settings to enhance overall client experience; can change tactics midstream when something isn't working.

Strategic Agility - Can quickly understand and embrace corporate and line of business initiatives and changes and can confidently represent KPB internally among teammates and externally among clients, prospects, and centers of influence.

EQUIPMENT USED/PHYSICAL REQUIREMENTS

• Microsoft Office products and other computer applications
• Internet and print media to research planning issues

TRAINING REQUIRED

• On the job and as required to maintain licenses and certifications