• Trust Custody Officer

    ID
    2018-6787
    Job Locations
    US-CA-San Francisco
    Category
    Wealth Management
  • Overview

    The Trust Custody Officer has the primary responsibilities of supervising and providing all private equity safekeeping account sales and administration, as well as providing standard custody account services. Specialized custody will also cover all types of escrow services that are offered by FRTC. The officer will administer all Private Equity Safekeeping, standard custody and escrow accounts in accordance with policies, procedures and standard practices.  The officer will be our in-house subject matter expert and will play a significant role in the retention and development of FRTC business.

     

    Additional Information-

    First Republic is an ultra-high-touch bank that provides extraordinary client service. We believe that one-on-one interactions build lasting relationships. We move quickly to serve our clients’ needs so that their financial transactions are handled with ease and efficiency. Client trust and security are paramount in our line of business. Ultimately, our goal is unsurpassed client satisfaction which will lead to personal referrals – our number one source of new business.

     

    We recognize that our competitive advantage starts with our people and our culture. At First Republic, we work hard and move quickly as a very coordinated team. If you are looking for an opportunity to grow and contribute in a fun, fast-paced environment, First Republic is the place for you. We have exceptional people focused on providing extraordinary service.

     

    Responsibilities

    • Lead and participate in sales activities relating to Private Equity Safekeeping, custody and escrow services.
    • Evaluate each prospective business for suitability, risk, profitability and complexity of service delivery with full consultations with the relationship manager referring the business.
    • Recommend acceptance or rejection of prospective business to management.
    • Carry out all account administrative duties either directly if appropriate or supervise activities conducted by others affecting the account and to act as a resource for other members of the team.
    • Maintain knowledge of SunGard operating system, Microsoft Office and other technology to complete responsibilities.
    • Identify any issues or problems in an account and promptly bring them to the attention of management.
    • Provide continuing input to administrative policy and procedures manual.
    • Open all new private equity, custody and escrow accounts in a timely manner and prepare timely reviews for all accounts. Ensure all required AML/KYC documentation are obtained in a timely manner.
    • Communicate with account principals, beneficiaries, accountants and other third parties as required. Keep FRTC members informed about account administration or operational issues.
    • Participate and contribute to departmental activities designed to improve the account management process, such as TAC and the training conducted by FRTC managers.
    • Enhance knowledge of Private Equity Safekeeping and standard custody by participating in educational forums as approved by manager, including those offered by FRTC and those available from third parties.
    • Interact with other First Republic Bank members to expand their knowledge about FRTC.
    • Perform duties & responsibilities specific to department functions & activities.
    • Performs other duties & responsibilities as required or assigned by supervisor.
    • Responsibilities include the following:  1) adhering to and complying with the applicable, federal and state laws, regulations and guidance, including those related to Anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.) 2) adhering to Bank and FRTC policies and procedures, 3) completing required training,  4) identifying and reporting suspicious activity to the AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank. 

    Qualifications

    Skills, Knowledge and Abilities:

     

    Prefer five or more years of trust custody experience in various facets of the industry. Understanding of accounting systems; excellent analytical skills.  Strong attention to detail and follow through. 

     

    College degree required; excellent communication skills; and practical job experience in the area of custody services for private equity and/or custody.

     

    Physical Requirements:

    • Vision must be sufficient to read data reports, manuals and computer screens.
    • Hearing must be sufficient to understand a conversation at a normal volume, including telephone calls and in person.
    • Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions.
    • Position involves sitting most of the time, but may involve walking or standing for brief periods of time.
    • Must be able to travel in a limited capacity.

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