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Senior Associate, Fiduciary

Company: Bank of New York Mellon
Location: Philadelphia
Posted on: September 19, 2023

Job Description:


Bring your ideas. Make history.

BNY Mellon offers an exciting array of future-forward careers at the intersection of business, finance, and technology. We are one of the world's top asset management and banking firms that manages trillions of dollars in assets, custody and/or administration. Known as the "bank of banks" - 97% of the world's top banks work with us as we lead and serve our customers into the new era of digital.

With over 238 years of rich history and industry firsts, BNY Mellon has been built upon our proven ability to evolve, lead, and drive new ideas at every turn. Today, we're approximately 50,000 employees across 35 countries with a culture that empowers you to grow, take risks, experiment and be yourself. This is what #LifeAtBNYMellon is all about.

As a leading wealth manager, BNY Mellon Wealth Management is focused on helping successful individuals and their families build, manage and sustain their wealth across generations and market cycles. Through a unique service model focused on five Active Wealth practices - Investing, Borrowing, Spending, Managing Taxes, Protecting Legacies - they help clients in the U.S. and abroad achieve stronger after-tax performance to help maintain their wealth over generations.

We're seeking a future team member for the role of Senior Associate, Fiduciary to join our Wealth Management team. This role is located in Philadelphia, PA and is eligible for flexible work arrangement.


  • At the direction of more senior staff, the Lead Analyst (Associate Fiduciary Specialist) administers and advises the Wealth Management team on the interpretation of key provisions and duties of BNY Mellon as trustee.
  • In that role, the LA coordinates the strategic plan for managing and growing existing client relationships, with a focus on risk management.
  • Must understand how to interpret governing trust documents particular to each relationship, and work with internal partners and external advisors.
  • Will meet with clients, co-trustees and beneficiaries to ensure BNY Mellon is adhering to the highest fiduciary standards as trust advisor to multi-generational families.
  • Will be expected to assess, identify and escalate/address risk-related issues.
  • The LA will be expected to orchestrate the varied administrative tasks through the support of the Wealth Management team.
  • May assist a more senior staff on complex accounts to gain breadth/depth of knowledge. In some instances, this role may be focused on Estate settlements.
  • Specific knowledge as to the settlement of estates and probates will be required.
  • Additionally, this role may be required to administer charitable accounts in which specific knowledge will be required pertaining to the policies and procedures of those accounts.
  • The LA independently evaluates and pursues new business opportunities and client prospects, focusing on responsible business growth that is compliant, of acceptable risk and profitable.
  • Serves in a consultative role to prospects, advising UHNW and HNW parties on the best way to achieve their short- and long- term strategic objectives through the firm's solutions.
  • Pursues clients and centers of influence with complex strategic needs and responsible for generating new revenue by way of increased flows and future fees
  • .Gaining knowledge of polices and procedures is essential to this role and required to move to the Specialist role.
  • Client service: Frequent and regular/scheduled interaction with clients, including in-person client meetings. Serves as clients' primary point of contact and are responsible for ensuring that all of WM's resources are provided to clients in the Active Wealth framework.
  • Fiduciary administration: Subject matter expert on all fiduciary topics which impacts clients and have in-depth knowledge of WM's fiduciary practices, policies and procedures.
  • Client-focused work includes administration and planning projects as requested by the client, peer Fiduciary Specialists or Active Wealth strategic opportunities.
  • Client activity may include the general administration of the processing of discretionary and non-discretionary request approvals, general account maintenance approvals, with regard to proxy and statement reporting, and other proprietary system maintenance associated with client records.
  • Business development: Demonstrates a business development orientation and mindset and has annual self-sourced asset goals and are expected to leverage existing client and COI relationships by consistently and systematically asking for referrals from clients and COIs, in order to generate self-sourced asset inflows, both IM and banking, and future fee appointments.
  • Work with teams on opportunities sourced by other functional team members
  • .Risk and Compliance: Expected to adhere to all policies, procedures and regulations.
  • Timely completion of all assigned compliance tasks is required.
  • Training, development, and mentoring: Continuous learning is expected.
  • Serves as a role-model, and mentors and trains less-experienced team members.
  • No direct reports. In some regions, may have oversight over client services.
  • Responsible for achievement and support of organic growth of assets and revenue goals assigned to team and practice.
    • Bachelor's degree or the equivalent combination of education and experience is required. Advanced/graduate degree preferred.
    • 5+ years of experience in fiduciary administration, including fiduciary taxation, and have provided administrative support for client relationships.
    • The qualified candidate must be self motivated and possess very strong interpersonal communication and presentation skills, as well as excellent written and verbal communication skills as this position deals directly with key client families and legal and tax advisors.
    • CTFA, CFP preferred

      At BNY Mellon, our inclusive culture speaks for itself. Here's a few of our awards:
      • Fortune World's Most Admired Companies & Top 20 for Diversity and Inclusion
      • Bloomberg's Gender Equality Index (GEI)
      • Best Places to Work for Disability Inclusion , Disability: IN - 100% score
      • 100 Best Workplaces for Innovators, Fast Company
      • Human Rights Campaign Foundation, 100% score Corporate Equality Index
      • CDP's Climate Change 'A List'

        Our Benefits:

        BNY Mellon offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life's journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves that can support you and your family through moments that matter.

        BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.

        Employer Description:

        For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark:

        EEO Statement:

        BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans. Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clients and communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.

Keywords: Bank of New York Mellon, Philadelphia , Senior Associate, Fiduciary, Accounting, Auditing , Philadelphia, Pennsylvania

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