Specialty Wealth Asset Advisor Job Listing at City National Bank in Las Vegas, NV (Job ID 10510)

Description

SPECIALTY WEALTH ASSET ADVISOR WHAT IS THE OPPORTUNITY? Promotes visibility and drives growth/revenue of the Specialty Wealth Assets department (real estate, closely held entities with real estate as an underlying asset, mineral/oil/gas interests) in their field of expertise.Also functions as an asset and investment manager, including providing oversight of property operations (oversight of 3rd party service provider performance, rent collection, expense payment, oversight of maintenance activities, etc.) and managing transactions and asset level projects (acquisitions, dispositions, leasing, and capital expenditures, etc.), while completing all asset level regulatory/reporting requirements in accordance with established policies, procedures, practices, and direction. Provides support to the business development and relationship teams by providing high level asset level expertise and coordinating communication with colleagues, clients, tenants, managers/general partners/officer, and 3rd party service providers around activities and issues at account/asset on-boarding and through management of their portfolio. Considers investment objectives, account circumstances, investment performance, concentration issues, and profitability from a fiduciary perspective while pursuing and considering new business opportunities as well as while administering the assets in their portfolio. What you will do

• Primarily responsible for business development activities and the successful on-boarding of new opportunities for the Specialty Wealth Asset department within their field of expertise and designated area to cover.
• Provide expert, high level investment/asset management services for their field of expertise for Specialty Wealth Assets held in fiduciary accounts on the Wealth Management platform of CNB and RBC. Portfolio usually consists of more complex assets, complex clients/beneficiaries, and is generally smaller in total number of assets than SWA Officer portfolios.
• As an asset and investment manager, provide oversight of property operations (oversight of 3rd party service provider performance, rent collection, expense payment, oversight of maintenance activities, etc.) and managing transactions and asset level projects (acquisitions, dispositions, leasing, and capital expenditures, etc.), while completing all asset level regulatory/reporting requirements in accordance with established policies, procedures, practices, and direction.
• Manage portfolio while mitigating risk and following established company and department policies, procedures, and best practices.
• When necessary, works closely with the relationship team, clients, managers/general partners/officers, operations services, attorneys, brokers, appraisers and other industry and relationship managers to facilitate activities at the asset level.
• Facilitate transactions and projects of Specialty Wealth assets in accounts, including acquisitions, dispositions, exchanges, leases, capital expenditures, recognized environmental issue resolution, ADA compliance issues, etc.
• Provide support to the relationship team by providing asset level expertise and coordinating communication with colleagues, clients, tenants, managers/general partners/officer, and 3rd party service providers around activities and issues at the asset level.
• Work with Bankers, Portfolio Managers, and Financial Consultant colleagues to gather the necessary information and documentation to ensure we understand the risk and other issues associated with new opportunities (e.g., agreements, fee schedules, transfer directions, receipt of assets, reporting correct cost basis and tax acquisition dates, missing form and signatures, etc.).
• Build strong relationships with key COI's, Bankers, and Financial Advisors on behalf of the Specialty Wealth Assets department.
• Consider investment objectives, account circumstances, investment performance, concentration issues, and profitability from a fiduciary perspective while administering the assets in their portfolio.
• Work with external advisors and attorneys to expand trust's brand and garner larger market share within region.
• Set proper expectations with all internal and external partners around timing and progress of new opportunity.
• Manage risk to ensure all relationships are within CNB's risk appetite.
• Provide regular tracking for review of new business activities.
• Administer and interpret fiduciary accounts in accordance with applicable laws and regulations and the stipulations of governing documents, local law or Court Order under which authority is conferred.
• Gather & submit pertinent facts to the Trust Administration Committee regarding situations requiring the use of fiduciary discretion as appropriate. Review and submit proposals for consideration, direction and approval.
• Fully complies with all Bank Operational and Wealth Management policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).
• Complete all regulatory and internal requirements associated with the assets in their portfolio in accordance with established policies, procedures and practices, such as annual reviews, inspections, valuations, document retention, audit inquiries, etc.
• Maintain all appropriate training and continuing education requirements for both internal programs and external licenses and certifications.
• Maintain a "Satisfactory" internal and external audit review.
• Comply with policies to identify and resolve environmental issues and ADA compliance issues.

Must-Have*

• Bachelor's Degree or equivalent
• 10+ years of experience in a financial or legal services organization
• 10+ years of asset/property management (residential/commercial) experience in related industry
• 10+ years of experience in analyzing appropriate industry investments, including operating statements, and estimating market value from the market data and its sources, offering memorandums/offerings, and relevant 3rd party reports.

Skills and Knowledge

• Strong oral and written communication skills are required.
• Specifically, excellent interpersonal skills with the ability to interact effectively with all levels of CNB personnel, clients and outside contacts
• The ability to profile clients with an emphasis on winning and retaining business
• Familiarity with state tax laws, income taxation with respect to trust investment management principles, California and/or Nevada probate code
• Demonstrated strategic team player: works effectively within a team as well as individually
• Strong organizational skills
• Anticipate needs and proactively seek solutions
• The ability to work on multiple tasks/projects simultaneously is crucial in this position
• Must be PC literate and be familiar with trust accounting systems
• Microsoft Office (Word, Excel & PowerPoint)
• JD, LLM or other legal designation/degree preferred
• Completion of Trust Certificate and/or CTFA preferred
• CCIM, CPM, or other industry specific and recognized designation preferred
• Formal education in relevant field/topic/major a plus
• Additional experience can substitute for education
• Master of Business Administration (MBA) and/or graduate-level degree in relevant field, or 5 additional years of relevant experience.

Compensation Starting base salary: $122,535 - $208,715 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
*To be considered for this position you must meet at least these basic qualifications
The preceding job 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. Benefits and Perks At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks. INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.' ABOUT CITY NATIONAL We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies.

 Apply on company website