Torchora
Back to Home

Key Responsibilities and Required Skills for a Trust Supervisor

💰 $110,000 - $165,000

FinanceWealth ManagementLeadershipLegal

🎯 Role Definition

A Trust Supervisor is a cornerstone of any fiduciary services team, blending expert knowledge of trust administration with strong leadership capabilities. This role is responsible for the direct oversight of a team of Trust Officers and Administrators, ensuring that all managed accounts are handled with the highest degree of care, precision, and adherence to legal and ethical standards.

The Supervisor acts as the primary escalation point for complex client issues, intricate trust interpretations, and operational challenges. They are not just a manager but a mentor, actively developing their team's skills, fostering a collaborative environment, and championing a culture of client-centric service and uncompromising integrity. This position serves as a critical link between senior management, the administration team, and high-net-worth clients, ensuring strategic objectives are translated into flawless daily execution.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Senior Trust Officer / Trust Administrator IV
  • Fiduciary Specialist or Advisor
  • Private Wealth Associate with a focus on Trusts & Estates

Advancement To:

  • Trust Manager / Fiduciary Services Manager
  • Vice President, Trust Services
  • Director of Fiduciary Operations

Lateral Moves:

  • Wealth Strategist / Estate Planner
  • Fiduciary Compliance Manager
  • Senior Relationship Manager (Private Banking)

Core Responsibilities

Primary Functions

  • Provide daily leadership, mentorship, and direct supervision to a team of Trust Administrators, guiding them in the accurate and compliant administration of a diverse and complex portfolio of trust, estate, and agency accounts.
  • Serve as the primary technical resource and subject matter expert for the team, offering guidance on complex trust document interpretation, discretionary distribution requests, and unique asset management.
  • Oversee and approve all account-level transactions, including principal and income distributions, bill payments, and asset transfers, ensuring they align with trust provisions and client needs.
  • Conduct comprehensive, periodic reviews of all assigned trust accounts to ensure ongoing compliance with governing documents, applicable laws, and internal policies and procedures.
  • Manage the new account onboarding process, meticulously reviewing trust instruments and legal documents to ensure proper setup and administrative feasibility.
  • Lead the account closing process, guaranteeing that all final distributions, tax obligations, and legal requirements are met with precision and documented thoroughly.
  • Act as the key point of contact for resolving escalated client inquiries and complex issues, collaborating with clients, attorneys, accountants, and beneficiaries with diplomacy and expertise.
  • Cultivate and strengthen relationships with high-net-worth clients and their professional advisors, building trust and positioning the firm as a premier fiduciary partner.
  • Monitor team workload and capacity, strategically assigning new accounts and rebalancing portfolios to ensure equitable distribution and maintain high service standards.
  • Develop and deliver ongoing training programs for the trust team, focusing on regulatory changes, evolving best practices, and sophisticated estate planning techniques.
  • Drive the performance management process for the team, setting clear goals, conducting regular performance reviews, and creating professional development plans for each team member.
  • Collaborate with investment officers to ensure that trust assets are invested in accordance with the trust's stated objectives, risk tolerance, and Prudent Investor Rule.
  • Review and approve annual trust accountings (Reg. 9 reviews) and ensure any identified issues or exceptions are remediated in a timely fashion.
  • Mitigate fiduciary risk by proactively identifying potential compliance issues, conflicts of interest, or litigation threats and developing strategies to address them.
  • Facilitate team meetings to discuss complex cases, share knowledge, and ensure consistent application of policies across the entire account portfolio.
  • Participate in the Trust Administrative Committee, presenting on complex discretionary requests, account issues, and other matters requiring senior-level approval.
  • Assist in the preparation of materials for internal and external audits and regulatory examinations, serving as a key point of contact for examiner inquiries related to team activities.
  • Drive process improvement initiatives within the trust department, identifying opportunities for greater efficiency, accuracy, and an enhanced client experience.
  • Stay current with all relevant federal and state legislation affecting trusts, estates, and taxation, and disseminate this information to the team.
  • Support business development efforts by accompanying relationship managers on client or prospect meetings to articulate the firm's fiduciary capabilities.
  • Manage and approve administrative fee calculations, ensuring they are accurate and in accordance with the governing document and the firm's fee schedules.

Secondary Functions

  • Support ad-hoc data requests and exploratory data analysis for senior management or compliance reviews.
  • Contribute to the organization's strategic initiatives related to fiduciary services and wealth management.
  • Collaborate with other business units, such as Private Banking and Investment Management, to ensure a holistic and seamless client service delivery.
  • Participate in sprint planning and agile ceremonies if the department utilizes agile methodologies for project management.
  • Represent the firm at industry conferences, seminars, and networking events to enhance professional knowledge and build brand presence.

Required Skills & Competencies

Hard Skills (Technical)

  • Expert Fiduciary & Trust Law Knowledge: Deep, applied understanding of trust and estate law, Uniform Prudent Investor Act (UPIA), and Uniform Principal and Income Act (UPAIA).
  • Trust Accounting Systems: High proficiency in at least one major trust accounting platform (e.g., SEI Trust 3000, FIS AddVantage, AccuTrust).
  • Estate, Gift, and Fiduciary Taxation: Comprehensive knowledge of tax regulations, including the preparation and review of fiduciary income tax returns (Form 1041) and gift tax returns (Form 709).
  • Regulatory Compliance: Thorough understanding of relevant regulations, particularly OCC Regulation 9, and experience with internal and external audit processes.
  • Investment Management Principles: Solid grasp of investment concepts, asset allocation, and risk management as they apply to fiduciary accounts.
  • Complex Document Interpretation: Proven ability to read, analyze, and interpret complex legal documents like trust agreements, wills, and estate plans.
  • Microsoft Office Suite: Advanced proficiency in Excel, Word, and PowerPoint for analysis, reporting, and presentations.
  • CRM Software Proficiency: Experience using CRM systems (like Salesforce) for client relationship management and tracking.

Soft Skills

  • Inspirational Leadership & Mentorship: A genuine passion for developing people, providing constructive feedback, and building a high-performing, motivated team.
  • Exceptional Client Relationship Management: The ability to build rapport, trust, and deep relationships with sophisticated clients and their advisors.
  • Complex Problem-Solving & Judgment: Superior analytical skills to dissect multifaceted problems, evaluate options, and exercise sound fiduciary judgment under pressure.
  • High Emotional Intelligence: Strong self-awareness and empathy, enabling effective communication and conflict resolution with both clients and team members.
  • Poise & Professionalism: An executive presence that inspires confidence and the ability to handle sensitive situations with tact and diplomacy.
  • Discretion and Confidentiality: An unwavering commitment to protecting sensitive client and firm information.
  • Effective Delegation: The skill to assign tasks appropriately, empowering team members while maintaining accountability and quality control.
  • Polished Communication Skills: The ability to articulate complex legal and financial concepts clearly and concisely to a variety of audiences, both verbally and in writing.

Education & Experience

Educational Background

Minimum Education:

  • Bachelor's Degree from an accredited college or university.

Preferred Education:

  • Juris Doctor (JD)
  • MBA with a concentration in Finance
  • Certified Trust and Fiduciary Advisor (CTFA) designation is highly preferred.
  • Certified Financial Planner (CFP®) or other relevant industry certifications (e.g., CPA).

Relevant Fields of Study:

  • Finance
  • Business Administration
  • Law / Pre-Law
  • Accounting

Experience Requirements

Typical Experience Range:

  • A minimum of 7-10 years of progressive, hands-on experience in trust administration, fiduciary services, or a closely related role within wealth management.

Preferred:

  • At least 2-3 years of direct supervisory, team lead, or formal mentorship experience is strongly preferred.
  • Experience managing a book of complex, high-net-worth trust relationships.
Explore More Careers