Job Summary
The Trust Fiduciary Officer is responsible for Fiduciary and risk oversight for the Trust Department of Synovus Bank. The position supports new business and existing business. The position monitors and advises on all areas of risk for Personal, Institutional Trust, and the Family Office at Synovus. The Trust Fiduciary Officer helps with efficiencies, training, and setting strategy for the Trust Company.
Job Duties and Responsibilities
- Reviews estate and trust documents to determine suitability as new business. Reviews appointment documents and prior trustee removal or resignation documents prior to execution. Reviews promissory notes, non-judicial settlement agreements, delegation agreements, waivers, declination documents, and other legal documentation required in the course of responding to new trust opportunities and in trust administration prior to execution
- Assists in setting the strategy for the Trust Company as it relates to initiatives that will lower the risk for the overall Trust Company and move the company forward in Fiduciary and compliance areas.
- Servses as a Fiduciary resource to the Trust Company including but not limited to exception monitoring and education. Serves as a liason to compliance, legal and the OCC related to Trust Company oversight and compliance with Fiduciary standards.
- Serves as the chair of the new accounts committee. Ensures that new accounts are presented to the new account committee, as appropriate. Determines if the committee needs to meet and any next steps needed. Determines viability of new accounts.
- Assists with ensuring that Synovus Trust Company policies and procedures and workflows remain updated and are compliant by partnering with STC compliance area. Monitors and manages risk through coaching and monitoring fiduciary activities.
- Serves as a resource to the field for Fiduciary inquiries to include but not limited to special assets such as real estate, non-real estate unique assets and life insurance including guidance and monitoring of discretionary distributions, overdrafts, and exceptions.
- Participates in all other special projects as determined to increase efficiency and/or improve processes including items such as monitoring any legal actions, assisting with new technology initiatives and workflows, remediation items from compliance audits, assisting with regulatory exam responses, or other items as determined such as Discretionary Distribution exception reduction and trade exception reduction.
- Each team member is expected to be aware of risk within their functional area. This includes observing all policies, procedures, laws, regulations and risk limits specific to their role. Additionally, they should raise and report known or suspected violations to the appropriate Company authority in a timely fashion.
- Performs other related duties as required.
The information on this description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Synovus is an Equal Opportunity Employer supporting diversity in the workplace
Minimum Education:
Requires a level of knowledge normally gained through completion of post-graduate work
Minimum Experience:
6 years experience
Required Knowledge, Skills, & Abilities:
- Working knowledge of trust products and services, income and principal accounting, trust taxation, estate and gift tax, investments, trust and estate law, estate planning, retirement plans, and trust regulations.
Preferred Knowledge, Skills, & Abilities:
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