Client Service Life Insurance Trust Advisor

Serves as the administrative, technical advisor/functional expert for Irrevocable Life Insurance Trust accounts (ILIT) and Trust Owned Life Insurance (TOLI). Engages in fiduciary decision making. Executes decisions and manages financial risk within he Centralized Life Insurance Trust Unit. Serves as primary liaison with the Relationship Managers, insurance companies, the client and beneficiaries and advises client and beneficiaries on insurance options. Retains client base by adhering to established client contact standards and coordinates and insures the involvement of all team members as necessary. Serves as a risk management/compliance/advisory role for the life insurance function regarding administrative, technical and client requests. Reviews existing policies and procedures, makes suggestions/recommendations where warranted to enhance controls. Provides reports on critical risk management and compliance and OCC issues. Develops written procedures on how to effect corrections. Communicates with market management to insure that correction has been achieved. Ensures favorable audit and OCC examinations to mitigate risk, and to reduce/eliminate potential surcharges and litigation. Acquires additional assets (account additions, referral, or new accounts) from existing clients. Identifies other bank products and services as cross-selling opportunities, to enhance existing client relationships in conjunction with a Relationship Manager or with market personnel as needed. Advises market personnel on the direction to follow for client estate planning purposes in establishing ILITs and TOLIs when needed. Develops and cultivates external centers of influence (i.e. Attorneys, CPAs) and obtains referrals from existing client base as well as from market personnel. Insures smooth transition as client moves among service models. Works closely with outside review vendor, insurance companies, attorneys,accounts and beneficiaries. Monitors insurance policies, forwards Crummey letters as needed, and follows up with clients on additional personal and policy needs as well as following up on current premiums. Establishes ticklers as annual premiums are due and updates database with outside vendor. manages relationship with beneficiaries, market personnel and outside insurance vendors. Ensures compliance with policies and procedures currently in place and assures that ARC review is completed on all loan requests. Identifies trends and systemic issues that may require staff training. Continually evaluates business to identify potential risk issues that require attention. Prepares, develops and facilitates the delivery of estate plans in conjunction with the regional planning centers. Identifies client needs based on significant life events or as policies mature or are evaluated as insufficient. Along with team members, counsels clients on a variety of financially based life decisions using life insurance as a product. Achieve client retention, provide consultative advice and superior service in a timely manner.

 

 

Requirements include:

 

Bachelor in Business related field BS/BA, J.D., Chartered Life Underwriter (CLU) or Charted Financial Consultant (ChFC) designations preferred. Demonstrated steps toward completion of a certification program (CFP) or related experience. Generally 5- years related experience preferably in trust Administration, Insurance and/or estate planning background. Accomplished level of fiduciary and estate planning knowledge (technical expertise). Demonstrated presentation and advisory skills. Familiarity with financial markets and PNC investment theory. Strong communication skills (both verbal and written). Strong listening skills and ability to gather and interpret information and read and understand legal documents and insurance policies. Demonstrated customer service skills. Computer skills and proficiency with estate planning. demonstrated leadership and relationship management skills.