Senior Fiduciary Officer

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The Wise National Trust (“WNT”) Senior Fiduciary Officer (“Senior Fiduciary Officer”) will serve as a delegate of the WNT Board to manage the bank's fiduciary financial assets administration and investment activity. The individual will report directly to the Wise National Trust Chief Fiduciary Officer (“CFIO”). 

The Senior Fiduciary Officer at Wise National Trust (“WNT”) will be primarily responsible for the legal and compliant control and administration of the trusts’ fiduciary investment accounts, acting with the highest standards of care and loyalty towards WNT’s fiduciary customers. 

This role requires deep expertise in trust administration, strong knowledge of 12 CFR Part 9 regulations and focus on regulatory risk management (especially fiduciary risk) and the ability to serve as a primary contact for fiduciary matters. 

Overview:

The Senior Fiduciary Officer is a key role that will assume joint custody and control over fiduciary account assets and execute investment transactions and cash allocations. 

They will be responsible for the day-to-day administration related to fiduciary funds safekeeping and related investment activity for WNT. This position ensures that all accounts are managed strictly according to the terms of the governing documents and policies, fiduciary law, and regulatory requirements, upholding WNTs fiduciary duties.

Essential Duties and Responsibilities:

1. Fiduciary Investment Policy:

The Fiduciary Officer will own and maintain WNTs Fiduciary Investment Policy (“Policy”). The individual will also be accountable to determine and finalize changes to the Policy. They will communicate confirmed changes of the Policy to key internal stakeholders and execute timely communication plans to inform customers impacted by the changes. The Fiduciary Officer will seek Board approval for Policy changes and renewals.

 2. Account Review and Fiduciary Asset Management:

The Fiduciary Officer will conduct prompt review of assets for fiduciary accounts post account acceptance and at least once on a calendar basis in accordance with regulation.

The Fiduciary Officer will take responsibility for executing the Policy. They will safekeep fiduciary customer assets by opening and maintaining deposit and investment accounts in accordance with the Policy and executing relevant deposit and investment transactions. The Fiduciary Officer will collaborate with internal stakeholders including Wise Treasury department and ensure the investment strategy aligns with client objectives and best interests.

3. Regulatory Adherence:

The Fiduciary Officer will ensure strict adherence with OCC Regulation 12 CFR Part 9 requirements and other applicable state and federal laws, regulations and internal policies, processes, and procedures. They will be adequately bonded and not use material inside information in connection with any investment decisions. Furthermore, the Fiduciary Officer will participate in and support in the annual external fiduciary audit as well as any fiduciary internal audits or compliance monitoring and testing reviews as a respondent to auditor or testing requests and materials coordination. 

 4. Fiduciary Asset Reporting and Risk Management:

The Fiduciary Officer will prepare relevant fiduciary investment and asset reporting for WNT ALCO, WNT Audit Committee and other relevant risk and compliance committees to support the committees in their governance and oversight activities. The Fiduciary Officer will participate in the relevant committees and present on the state of fiduciary assets, investment activity, and any potential risks and mitigants. 

5. Internal Governance and Reporting:

The Fiduciary Officer will maintain WNT’s internal policies and procedures for trust administration, conflicts of interest and self dealing. They will prepare and present detailed fiduciary activity and compliance reports to the CFIO and Board of Directors.

6. Training and Leadership: 

The  Fiduciary Officer will partner with the CFIO and Chief Compliance Officer to provide training and mentoring to relevant WNT officers and employees on fiduciary best practices, regulatory changes and specific account administration requirements. 

7. Cross Functional Collaboration:

The Fiduciary Officer will coordinate with internal and external teams across finance, legal, compliance and risk on complex fiduciary, tax, and legal matters, including litigation and subpoena responses.

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