Union Bank, N



Personal Trust Attorney

Union Bank, N.A. seeks an experienced personal trust attorney to support its personal Trust and Estates Division (TES) with personal trust offices currently in California, Oregon and Washington. The personal trust attorney will advise affected business units on a broad range of related fiduciary, regulatory and compliance activities, such as tax, real estate, special assets, investment management, trust operations and securities, custody, and environmental risk management. 

Major Responsibilities

The position will provide counsel for the following:

• New and existing TES products and services;

• Fiduciary activities and fiduciary policies including fiduciary governance at a national bank;

• The Bank’s Risk and Compliance groups related to oversight of fiduciary activities;

• The Bank’s Trust Operations Department;

• Oversight of outside legal counsel on specific projects;

• Implementation of changes to products, policies, and procedures so as to comply with the Internal Revenue Code, OCC Reg. 9, ERISA, applicable states’ laws, fiduciary requirements, and other regulatory requirements.

The position will support TES administrators and work with customers’ counsel in the following respects:

• Advise regarding fiduciary agreements including trust agreements and estate planning and administration documents, common trust funds and collective investment funds;

• Advise regarding trust operations matters, such as securities transaction processing, regulatory reporting, class action claims and nominees;

• Advise fiduciary officers regarding complex estate planning issues and trust and estate administration issues, including the exercise of discretionary powers and trust administration problem resolution including monitoring and managing trust litigation;

• Advise regarding broad regulatory requirements applicable to fiduciary activities, including  Volcker, BSA/AML, GLBA, securities laws (particularly for trust operations) and other regulatory requirements;

• Advise regarding bank-owned life insurance (BOLI) and ERISA issues;

• Draft and advise regarding IRA agreements and administration;

• Advise on fiduciary investment issues that involve the (i) Principal and Income Act, (ii) Prudent Investor Act, (iii) Office of the Comptroller of the Currency (OCC) Regulation 9, (iv) the Internal Revenue Code with respect to trust fiduciary income tax and estate tax issues and IRAs, (v) tax reclamation requirements and tax treaties that pertain to foreign transactions, and (vi) trust operations including securities transactions, (vii) asset administration including environmental and other real property issues, and (viii) trust and investment products and services generally.

Qualifications:

• Candidate must be a member of the California Bar or otherwise qualified to practice law in California as in-house counsel;

• Minimum 10 years’ experience either as in house trust counsel with a bank, or experience with a law firm with highly regarded trusts and estates practice, including trust administration;

• ERISA

• Demonstrated ability to provide counsel and guidance on matters ranging from complex legal questions to routine day-to-day legal matters;

• Excellent issue spotting, risk assessment and problem solving skills;

• Strong written and verbal communication and interpersonal skills;

• Excellent organizational skills and attention to detail;

• Flexibility and adaptability to changing priorities and deadlines and ability to manage multiple priorities;

• Initiative, strategic thinker and sound judgment; with the ability to influence, interact with and advise senior executives and the Board, build trusted relationships with clients and colleagues, deal constructively with conflict;

• Strong work ethic, self‐starter, reputation for timely transaction execution and comfortable in a fast‐paced environment;

• Knowledge and experience with institutional trust matters, including institutional custody and corporate trust, is helpful although not a requirement.

Consideration will be given to location at Union Bank’s Legal Division offices in Los Angeles or San Francisco.

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