Fiduciary Officer
Fiduciary & Wealth Services, MassMutual Trust Company
Hybrid - Windsor CT or Boston MA
The Opportunity
The Fiduciary Officer (FO) assists the Fiduciary Team with administrative, fiduciary and risk management oversight over all MassMutual Trust Company (MMTC) accounts. This includes involvement in new account acceptance, account opening guidelines and procedures and discretionary distributions. The FO provides another level of control to ensure that key activities performed by MMTC are in alignment with clients' best interest. There is also a key educational aspect and responsibility to this role as the FO will look for opportunities to educate staff and advisors one-on-one and through group meetings on key risk issues, tax law changes with an impact on existing and prospective clients, in addition to providing an overview on more complex and advanced financial planning techniques.
The Team
The Trust Company is responsible for providing investment, fiduciary and client service offerings to private wealth clients and their families. In addition, the team is responsible for identifying regulatory changes and market trends and providing these insights to prospective and existing Trust Company clients as well as staff. The Fiduciary Officer will report to the Head of Trust Fiduciary Services.
The Impact:
As part of a core element of MMC's value proposition, the FO will provide support to the Fiduciary Team in conducting reviews of trust document or "Doc Reviews." Doc Reviews generally occur as part of the new business acquisition. These reviews are designed to provide feedback to the drafting attorney and ultimately a final assessment for MMTC as to whether we will accept the account and serve in a certain capacity such as Trustee, Agent for Trustee, etc.
Additional elements of the document review process include:

• Identifies relevant issues and communicates same to sales staff, agents and/or prospect's attorney.
• Coordinates changes to trust documents or court action as appropriate.
• Provides synopsis of trust terms.
• Prepares appointment documents and reviews prior trustee removal or resignation documents.
• On occasion, direct communication between clients' attorneys and advisors is necessary to provide details on observations and/or explain our position on a desire to accept or not accept an account.
• For new Irrevocable Trust relationships, understand the client relationship, the trust and its beneficiaries, family dynamics, history of administration and the other factors relevant to MMTC acceptance.
• Help to develop and maintain a program regarding future funded documents.

In addition, the FO will assist the Fiduciary Team with the following responsibilities:

• Partner with Trust Counsel and the Risk Committee on operational issues, litigation management, new business due diligence and vendor contract review.
• Partner with the sales area to effectively position MassMutual Trust's capabilities and grow assets under management; sales calls and in-person meetings may be requested.
• Communicate by phone or in person with MM advisors, attorneys, CPAs, clients and others regarding fiduciary and tax matters.
• Conduct seminars to MassMutual advisors, centers of influence like CPAs and Estate Planning Attorneys, and clients regarding fiduciary and tax matters. An additional element of this responsibility entails presenting simple and intuitive sales ideas that help advisors grow their practice.
• Participate in trust company marketing efforts to both internal and external sources. Provides technical review of all marketing materials.
• Ensure appropriate policies, procedures and practices are in place and remain updated to maintain compliance with all fiduciary laws and regulations.
• Assist Trust Officers and administrative staff with daily ongoing client issues and tasks relating to trust administration.
• Assist administrative staff with non-financial assets such as real estate and life insurance policies held in trust accounts.
• Provide training and guidance to all administration and sales staff.

The Minimum Qualifications

• 5+ years of trust administration experience in the high-net-worth marketplace, including the oversight and management of a complex book of fiduciary accounts (trust administration)
• 3+ years of experience in fiduciary administration, income tax, estate tax and GST tax
• 1+ years of experience working in an Office of the Comptroller of the Currency (OCC) supervised institution
• 1+ years of experience working with trust accounts in a multi-state environment
• 1+ year experience managing and overseeing special/unique assets, such as real estate and life insurance policies
• Completed Bachelor's degree

The Ideal Qualifications

• Law degree, with LLM a plus.
• CTFA (Certified Trust and Financial Advisor) credential

What to Expect as Part of MassMutual and the Team

• Regular collaboration with the Fiduciary & Wealth Services Team
• Focused one-on-one time with your manager
• Access to mentorship opportunities
• Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
• Access to learning content on Degreed and other informational platforms
• Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits

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MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
Salary Range: $115,900.00-$152,100.00