Deputy Chief Fiduciary Officer
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Description
Company Overview:
Chevy Chase Trust is a privately owned investment management firm headquartered in the Washington, D.C. metropolitan area, serving individuals, families, endowments and institutions since 1999. With more than $46 billion in assets under management and a team of over 130 professionals, the firm specializes in investment management, financial and estate planning and fiduciary services.
The firm is known for its Global Thematic Equity Investment approach which focuses on long term secular trends stemming from economic, demographic and technological change and their impact on industries and companies. In addition, our in-house team provides highly customized financial and estate planning and trust services to address the complex needs of each client.
Job Purpose/Summary
Since 1999, Chevy Chase Trust has provided wealth management to individuals, families and foundations using thematic investing in individual securities. Reporting to the Chief Fiduciary Officer, this position will provide internal legal support for the proper administration of Chevy Chase Trust's fiduciary appointments as well as perform reviews of fiduciary account administration to ensure compliance with internal policies and procedures. The position will work closely with the Chief Fiduciary Officer to ensure that the Chevy Chase Trust consistently fulfills its fiduciary duties in accordance with applicable law; regulatory expectations; and the highest standards of prudence, loyalty, and care.
Company Core Values:
- Excellence: Demonstrates a commitment to continuous improvement, innovation, and achieving the highest possible standards for performance.
- Results: Consistently going above and beyond to deliver exceptional results and value for the team and the organization.
- Ethics/Integrity: Demonstrates a commitment to integrity, peer respect, and fairness. Continuously demonstrates a strong work ethic by exhibiting an indisputable drive to get the job done.
- Teamwork: Demonstrates a commitment to collaboration, mutual respect, and shared responsibility in achieving common goals.
Essential Job Functions of the Deputy Chief Fiduciary Officer:
- Support the activities of the Chief Fiduciary Officer in all legal matters with a primary focus on the proper administration of the firm's fiduciary appointments in accordance with applicable regulations, internal policies/procedures and governing instruments.
- Review governing documents to provide a thorough fiduciary risk assessment, as part of the pre-acceptance process, to assess acceptance of new business as Trustee and/or CoTrustee.
- Review trust agreements for opinions on interpretation issues and/or conflicts; provide conclusions on a timely basis.
- Serve as a member of internal committees that oversee trust administration and discretionary trust distributions.
- Ensure consistent application of fiduciary standards across all account types, including trusts, estates and agency relationships.
- Provide oversight for a portfolio of high-complexity trusts, including Irrevocable Trusts, Life Insurance Trusts, Special Need Trusts, SLATs, Grantor Trusts and GST Exempt Trusts.
- Communicate directly with beneficiaries and clients concerning fiduciary administration matters.
- Participate in client meetings as a subject matter expert on issues related to trust and estate administration as requested.
- Work closely with clients' attorneys and tax advisors to ensure trust appointments and administrations are properly administered in accordance with governing law and the grantor's intent.
- Provide oversight for estate and trust (post death) administrations in Maryland, District of Columbia and Virginia.
- Maintain deep expertise in fiduciary income tax; estate and gift tax considerations and other complex fiduciary knowledge - remain knowledgeable and updated on legal developments.
- Support the business development team by joining prospective client meetings that involve corporate fiduciary opportunities.
- Support oversight of unique assets (closely held business interests, real estate, life insurance) in fiduciary accounts.
- Cultivate relationships with external referral sources (attorneys, accountants, personal advisors, etc.) and plan and attend selective marketing events relevant to Chevy Chase Trust's role as a corporate fiduciary.
- Participate in regulatory exam readiness and responses for any and all regulators and internal auditors.
Required Education/Experience of the Deputy Chief Fiduciary Officer:
- 8-15 years' relevant experience in a law firm's trusts and estate or fiduciary litigation practice, a bank trust department or a trust company.
- Strong knowledge of estate planning, incapacity planning, and sophisticated wealth transfer strategies.
- Experience with probate administration and estate settlement process in Maryland/District of Columbia/Virginia (preferred).
Additional Job Qualifications of the Deputy Chief Fiduciary Officer:
- Juris Doctor (J.D.) Required.
- Must be an active member in good standing of a U.S. state bar or D.C. (Maryland and/or Virginia, preferred).
- Demonstrated ability to work collaboratively with the team while working independently and with autonomy.
- Excellent written and oral communication skills.
- Ability to maintain strict confidentiality.
- Must possess unquestioned integrity in the exercise of fiduciary judgement.
- Ability to work with clients in stressful and sensitive situations
The actual base pay offered is determined by several variables, including, as appropriate, the applicant's qualifications for the position, years of relevant experience, distinctive skills, level of education attained, certifications or other professional licenses held. Base pay is one component of Chevy Chase Trust's total compensation package, which also includes eligibility for discretionary incentive compensation, healthcare benefits, a 401(k) plan, short-term and long-term disability coverage, basic life insurance, bonus plans and more.
Summary of Competitive Benefits & Perks:
- Health/Medical Insurance including Dental and Vision
- 401(k) with company match
- Paid time off
- Bonus/Target Incentive
- Tuition Reimbursement
- Complimentary usage of modern in-house fitness center
- On-premise full-service dining center discounts
- Discounts via the company’s EAP
- Pre-tax transportation options
Chevy Chase Trust is proud to be an equal opportunity workplace. We foster an environment that recognizes employees’ unique skillsets and ensure that all employees have an equal opportunity to grow and advance.
If you are a candidate in need of assistance or an accommodation in the application process, please contact corporate.resumes@bfsaul.com or 301-986-6000.
Equal Opportunity Employer/Veterans/Disabled
Skills
As published by lever · 16 questions · 3 written answers
Basics
Resume/CV, Full name, Email, Phone, Current location, Current company, LinkedIn URL
Short answers (1)
- What is your minimum annual base compensation requirement? This amount should not include bonus/incentive pay. Listing N/A, NEGOTIABLE, or $0 will not be considered an acceptable response.
Pick from a list (12)
- Are you 18 years of age or older? optional
- If hired, can you provide proof that you are eligible to work in the U.S.? optional
- How did you hear about us optional
- Have you ever worked for B. F. Saul Company, Saul Centers, Inc, ASB, Chevy Chase Trust, B. F. Saul Hospitality Group or another affiliated company? optional
- Will you require work sponsorship now or at any time in the future during the course of employment? optional
- Do you currently have any relatives working for any of the companies mentioned in the previous question? optional
- Have you executed any confidentiality, non-compete or non-solicitation agreements with your current or former employer(s)? optional
- I agree that all the information that has been provided is complete and accurate information. If the organization discovers at any time that I failed to completely and honestly provide any information requested of me, I understand that my application will no longer be considered or, if I am working for the organization, that I will be subject to disciplinary action, up to and including termination of employment. optional
- I am willing to work in the Bethesda, MD office 5 days a week.
- How many years of relevant experience do you have working in a law firm's trusts and estates, fiduciary litigation practice, bank trust department or trust company?
- Do you possess a Juris Doctor (J.D.)
- Are you an active member in good standing of a U. S. state bar?
Written answers (3)
- If you selected "Referral", please indicate the name of the Employee. optional
- If you were selected "Other", please indicate the source. optional
- If yes, please state their name(s) and relationship. optional