Director Wealth Management Risk & Chief Fiduciary

Job Description

Under the direction of the Chief Risk Officer, this job is responsible for ensuring that appropriate controls, policies and procedures are in place to manage fiduciary and other relevant risks within Wealth Management. Serves as the technical expert on fiduciary risk and administration. Oversees, manages, and reports on fiduciary and other relevant Wealth Management risks. Develops and maintains effective relationships with Legal, Corporate Compliance, Enterprise Operational Risk, Audit, and lines of business partners.

Responsibilities

• In partnership with business managers, develops strategic long-term Wealth Management plans and ensures comprehensive fiduciary practices and other relevant controls are embedded in business processes. Reviews and oversees the fiduciary practices and provides technical expertise in development of fiduciary and trust activities. Provides guidance in resolution of fiduciary issues.
• Participates in strategic and operational governance processes to provide guidance on early intervention on Wealth Management, fiduciary issues, risk matters and client complaints. Serves as primary resource for comprehensive fiduciary and technical advice relating to administration of fiduciary, trust, and investment activities. Ensures appropriate and effective tracking and reporting of overall fiduciary book of business.
• Reviews trust administrative processes in the management of portfolios and trust assets as determined by trust and client agreements. Manages review of trust instruments to determine powers conferred and obligations established and completes necessary actions, including but not limited to, property registration, transfer of titles, distribution of assets and/or benefits, etc. Ensures fiduciary asset investments are appropriate and comply with investment objectives and policies. Ensures that complete and accurate financial records and accounts are maintained. Provides input and reviews communications to clients and beneficiaries regarding questions, records and annual reports.
• Manages the Fiduciary and Investment Compliance & Risk Management (FICRM) staff, ensures appropriate policies, procedures and practices are in place to maintain compliance with Reg 9 which includes the implementation of risk management practices to limit the risk within the fiduciary and investment business. Partners with operations, asset management and risk organizations in the ongoing management of the trust business to ensure the organization has appropriate controls, policies and procedures in place to manage fiduciary accounts for individuals and institutional clients. Responsible for the management of all employees in the team including staffing and scheduling, compensation, performance management, training and development. Goal is to attract, retain and motivate the team to achieve management business objectives and maintain a favorable employee relations climate. Responsible for the timely and effective management of Human Resources forms and documents relevant to immediate staff.
• As Co-chair of the Wealth Management Business Strategy & Risk Committee (WMBSRC), is responsible for leading the committee in fulfilling duties under its charter and developing meeting agenda and material. Partners with other Wealth Management managers to provide oversight of the administration of all significant fiduciary, trust, investment management activities and related activities.
• Performs all other miscellaneous responsibilities and duties as assigned.

Qualifications

• Bachelor's degree, preferably with a business related major. Post Graduate Degree/s or Professional Certification/s (JD, CPA, CTFA, CFP, Securities etc). Hawaii attorney licensed to practice law is preferred.
• Minimum of 10-15 years extensive work experience in Trusts & Estates and/or time employed by a Bank, Private Wealth Management firm or Trust Company performing legal, audit, risk or fiduciary function(s), or equivalent work experience.
• Experience working with trust officers/fiduciary specialists and making fiduciary related risk-reward decisions.
• Prior experience working with regulators.
• Strong leadership and management experience.
  Knowledge of general fiduciary law and principles, trust and wealth transfer techniques, and federal and state laws/regulations pertaining to fiduciaries. Demonstrated proficiency and expertise with personal computers and Microsoft applications (Outlook, Word, Excel, Access, and PowerPoint) or similar software. Knowledge of or ability to use Bank software and systems.
• Excellent communications skills across all levels of the organization, including verbal, written, inter-personal and presentation. Ability to express complex ideas in concise and simple terms and articulate positions and influence decision makers.
• Ability to build strong working relationships and partnerships across organization with a collaborative and consultative approach.
• Possess strong analytical, quantitative, and problem-solving skills to identify business and process improvement opportunities and risks, implement procedural change, and establish internal controls.
• Keen awareness of when to escalate matters to Legal Department and/or executive management.