Manager National Specialty Wealth Assets

MANAGER NATIONAL SPECIALTY WEALTH ASSETS

WHAT IS THE OPPORTUNITY?

This position is responsible for managing and implementing the strategic vision for all specialty assets; Real Estate, Closely Held, and MOG held in trusts and estates where City National Bank serves as a fiduciary. Provides National oversight of policy, procedures, and delivery of all specialty assets as well as providing selected transaction advisory services to clients, as appropriate. Additional responsibilities will include assisting with business development efforts to prospective clients who own real estate assets and supporting our current client relationship platform in cooperation with our regional offices across the US.

WHAT WILL YOU DO?

• Oversight of a nation-wide portfolio of real estate and real estate-related assets which may include multi-family complexes, retail, industrial and office properties, limited liability companies, partnerships, net leased assets, single family homes, cooperatives, condominiums, ranches, timber and vacant land parcels.
• Work with clients/co-fiduciaries to manage the sales process of properties including conducting market due diligence, employment of real estate brokers and attorneys, establish pricing and negotiate terms of sale agreements.
• Work with clients/co-fiduciaries to handle the acquisition of properties including conducting market due diligence, employment of third party firms for inspections and negotiate terms of purchase agreements and obtaining financing.
• Analysis of investment performance of real estate assets to determine whether to buy/hold/sell.
• Analyze financial feasibility of capital projects.
• Oversee capital improvement and repair projects including employment of architects, attorneys, engineers and general contractors, monitoring construction progress and authorizing final approval upon completion.
• Negotiate lease agreements with residential and commercial tenants and monitor compliance with lease terms including rent payments, Consumer Price Index increases, client account management payments, real estate tax payments, maintenance of appropriate insurance and upkeep and maintenance covenants.
• Work closely with operations team to ensure efficiency in all departmental transactions.
• Employment and direction of third party property management firms and review of monthly and annual financial statements including income & expense statements, rent rolls, budgets and cash flow statements.
• Conduct annual reviews, appraisals and annual physical inspections of properties as required by OCC and Federal Reserve.
• Supervise preparation of presentations to Trust committees.
• Manage the interaction with auditors and participate in the audit process.
• Maintain a "Satisfactory" internal and external audit review.
• Manage the risk associated with investment activities including active participation in Regulation 9 reviews.
• Manage risk associated with investment and management activities.
• Comply with prescribed investment guidelines.
• Comply with policies to identify and resolve environmental issues and ADA compliance issues
• Manage to successful exception free
• Hire, retain, develop, coach, and motivate colleagues.
• Develop and maintain an active talent pipeline.
• Identify staff development needs and provide appropriate opportunities personally or through leveraging internal or external resources.
• Maintain full staff and manage resources to optimize client support and region profitability.
• Stay abreast of new developments concerning policy and/or product and communicate in a timely manner to staff.
• Participate in sales calls and presentations with both CNB & RBC officers, which will enhance product and service awareness among clients, prospects and referral sources.
• Act as a business development resource for assistance in sales calls or customer inquiries relating to real estate.
• Participate in community projects and professional affiliations.
• Cross-sell bank products.
• Support Trust Officers in retention and development of client relationships
• Coordinate real property activities as appropriate with assigned Trust Officers.
• Actively communicate with Trust Officers and other relationship managers.

WHAT DO YOU NEED TO SUCCEED?

Required Qualifications*

• Bachelors Degree or equivalent
• 10 years of property/asset management (residential/commercial) experience necessary

Additional Qualifications

• 15 years of experience in property/asset management (residential/commercial) experience necessary. Fiduciary Experience a plus.
• Prior leadership experience
• Proven communication, sales, analytical and negotiating skills, coupled with computer literacy. Also, have a strong detail and client service orientation. Proven ability to work in a multi-task environment with oversight. Team player with developing leadership characteristics.
• Professional Credentials such as CPM, CCIM or other industry backed designations preferred.
• Licensing preferred Real estate sales or brokers license.
• Extensive background analyzing real estate investment opportunities and managing different forms of real estate ownership, types of interests and documentation including deeds, title reports, leases and contracts.
• Proven experience managing and executing real estate transactions, including expertise with commercial real estate transactions.
• Trust and estate administration experience essential; knowledge of fiduciary laws and policies highly desirable; real estate financial advisory expertise desirable.
• Expertise with appraisal and valuation concepts and financial analysis including net present value, internal rate of return, discounted cash flow and mortgage amortization.

WHATS IN IT FOR YOU?

Compensation

Starting base salary: $141,830 - $263,408 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.

ABOUT US

Since day one weve always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

• Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.

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