Chief Fiduciary Counsel

Mechanics Bank is currently searching for a Chief Fiduciary Counsel to join our team. Here at Mechanics Bank, we value connection, partnership, long term relationships and working together in person. This role will be working on-site at our Walnut Creek or San Francisco offices.

The Chief Fiduciary Counsel will be responsible for overseeing Wealth Management activities comport and comply with all fiduciary laws, regulations, and best practices. Wealth Management includes private banking, investment management, retirement plan services, trust administration, specialty assets, operations, partnerships with Registered Investment Advisors and third-party brokers in networking arrangements. This individual will serve as the primary legal advisor for Wealth Management providing comprehensive fiduciary and technical advice and is responsible for refining, designing, and implementing policies and governance structures for this business. The role is responsible for ensuring that appropriate controls, policies and procedures are in place to manage fiduciary and other relevant risks within Wealth Management. Develops and maintains effective relationships with Legal, Compliance, Audit, Enterprise Operational Risk, and lines of business partners.

What you will be doing:

• Ensure the Wealth Management department operates in compliance with all fiduciary, federal and state regulatory and tax laws, and best practices.

• Develop and implement policies and procedures to mitigate legal and operational risks. Oversee governance structures and best practices for the operation of committees. Oversees governance and regulatory affairs 10% Created matters and Quality Assurance programs.

• In partnership with Wealth Management Senior Management Team, develops strategic plans and ensures comprehensive fiduciary practices and other relevant controls are embedded in business processes, policies and procedures.

• Serve as the primary liaison with Office of General Counsel and outside legal counsel. Prepares and oversees Watch List matters. Collaborate with, and if necessary, oversee litigation matters for the department.

• Serves on the board of directors for the Delaware Trust Company and member of the Senior Management team within Wealth Management.

• Oversees the New Account Acceptance Committee and as active participant in department Committees as needed. Review new business prior to acceptance to ensure completion of necessary due diligence and compliance with policies, identify risks and makes recommendations to mitigate.

• Provide legal guidance to administrative staff on complex document interpretation issues and questions of fiduciary duties.

• Review legal documents for the trust company, including trust documents, court filings, agreements impacting account administration, and vendor contracts. Draft client waivers for conflicts of interest, concentrations, releases and other situations, as needed to mitigate risks.

• Coordinate risk management efforts with Compliance, Audit, Enterprise Operational Risk.

• Collaborate with Vendor Management on contract reviews for Registered Investment Advisors engaged on accounts where the bank is Trustee/Co-Trustee. Provide guidance, as necessary, regarding third-party networking agreements with broker-dealers engaged to provide Non-Deposit Investment Products to bank clients.

• Keep current on relevant fiduciary and tax laws, planning strategies, and trust structures. Develop and maintain professional contacts and industry participation to monitor changes in the trust industry, identify emerging risks, and evaluate market opportunities

Who you are:

• Required 4 Year / Bachelors Degree

• Required Graduate Degree Juris Doctor

• Required Certified Fiduciary and Investment Risk Specialist (CFIRS)

• Preferred:

• Certified Financial Planner (CFP) or Certified Trust and Fiduciary Advisor (CTFA)

• Minimum of 10-15 years extensive work experience in Trusts & Estates and/or time employed by a Bank, Private Wealth Management firm or Trust Company performing legal, audit, risk or fiduciary function(s), or equivalent work experience.

• Strong analytical, legal, and operational skills with the ability to navigate complex fiduciary matters and ability to make fiduciary related risk-reward decisions.

• Knowledge of the financial service industry including general fiduciary law and principles, trust and wealth transfer techniques, Federal and State chartered banks, trust companies and securities broker/dealers.

• Excellent communications skills across all levels of the organization, including verbal, written, inter-personal and presentation.

• Ability to express complex ideas in concise and simple terms and articulate positions and influence decision makers.

• Prior experience working with regulators.

• Strong leadership and management experience.

• Excellent attention to detail.

• Ability to work independently and self-start projects.

• Ability to handle multiple competing priorities and organize work effectively.

• Excellent interpersonal skills

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Salary: $185,000-298,000 annually

Final compensation package will be determined by the work experience, education, and/or skill level of the applicant along with internal equity and alignment with geographic market data.

• Mechanics Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, religion, national origin, age, genetic information, veteran status, or on the basis of disability, gender identity, sexual orientation or other bases prohibited by applicable law.

• Please view Equal Employment Opportunity Posters provided by OFCCPhere.

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