Group Manager, Fiduciary - BNY Mellon

Overview

At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.    

We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.

As a leading wealth manager, BNY Wealth Management is focused on helping successful individuals and their families build, manage and sustain their wealth across generations and market cycles. Through a unique service model focused on five Active Wealth practices — Investing, Borrowing, Spending, Managing Taxes, Protecting Legacies — they help clients in the U.S. and abroad achieve stronger after-tax performance to help maintain their wealth over generations.

We’re seeking a future team member for the role of Group Manager, Fiduciary to join our Wealth Management team. This role is located in Dallas, TX and is eligible for Hybrid work arrangement.

Description:

• The Group Manager (Regional FIduciary Manager) leads a group of Fiduciary Specialists at various levels of experience.
• The GM is responsible for managing and overseeing all fiduciary administration, compliance and regulatory aspects of BNYM’s wealth management business.
• The GM is also responsible for ensuring that all policies, procedures and tasks are performed in accordance with BNYM’s internal and regulatory requirements.
• In addition, the GM is responsible for ensuring that all of fiduciary related components of BNYM WM’s Active Wealth practices are delivered to BNYM clients.
• As a leader, the GM takes ownership for hiring, training and developing all fiduciary team members, which includes regular and frequent coaching, mentoring, performance and development-related meetings.
• GM's may also serve as a Sr. Fiduciary Specialist for a small and select group of large and typically complex client relationships.
• The GM will work closely with Regional leaders and other senior leaders and will be responsible for ensuring implementation of Wealth Management investment strategies within their respective region.
• The GM independently evaluates and pursues new business opportunities and client prospects, focusing on responsible business growth that is compliant, of acceptable risk and profitable.
• Serves in a consultative role to prospects, advising UHNW and HNW parties on the best way to achieve their short- and long- term strategic objectives through the firm's solutions.
• Pursues clients and centers of influence with complex strategic needs and responsible for generating new revenue by way of increased flows and future fees.

 

• Fiduciary Oversight:

1. Working closely with the Chief Fiduciary Officer (""CFO""), the GM will be responsible for ensuring implementation of key Wealth Management fiduciary policies and procedures within their respective region.
2. Specific duties may include serving as Regional Trust Administrative Committee Chair, reviewing and approving new regional fiduciary business, serving as a subject matter expert to the regional Wealth Management team on day-to-day fiduciary issues.

• Fiduciary administration:

1. In addition, the incumbent, at the discretion of regional leadership, will maintain a book of fiduciary accounts in coordination with the relationship manager.
2. The GM will focus on advising the Wealth Management team on high net worth, multi-generational clients, whether fiduciary and non-fiduciary clients.
3. In this role, the incumbent will administer and provide comprehensive guidance to our largest and most complex fiduciary relationships.

• Business development:

1. Building on a proven track record of developing a business, and coaching and empowering team members to succeed, the individual will demonstrate a business-development orientation and mindset.
2. The GM will assist in development of thoughtful strategies, and collaborate on potential new business opportunities, enhancing and expanding relationships with COIs and high net worth prospects.
3. Annual self-sourced asset goals and are expected to leverage existing client and COI relationships by consistently and systematically asking for referrals from clients and COIs, in order to generate self-sourced asset inflows and future fee business.

• Risk and Compliance:

1. Demonstrate a consistent track record of adherence and success at managing all risk and compliance matters.
2. Ensure all team members adhere to all policies, procedures and regulations. Timely completion of all team assigned compliance tasks is required.

• Team Development:

1. In coordination with the CFO and other stakeholders, the GM will actively lead/ partner on fiduciary training, including supporting the updating and refinement of existing fiduciary training for both compliance purposes and client engagement.
2. The GM will guide and mentor other fiduciary specialists and team members to develop and expand deeper client relationships while modeling our fiduciary best practices.
3. The individual will participate in interviewing/hiring, performance appraisals for Fiduciary Specialists in their region.
4. Oversees a team of Fiduciary Specialists; work is primarily accomplished through the management of individual contributors.
5. Teams may be geographically dispersed with multiple reporting lines, adding to complexity of oversight.
6. Responsible for achievement of team goals.
7. Ensures team is equipped to operationalize and attain team objectives. May manage financial resources of the team (budgets, expenses, etc.).
8. In some regions, may serve as the primary interface for jurisdictional/ regulatory matters and may have entity governance responsibilities.

Qualifications:

• Bachelor’s degree or the equivalent combination of education and experience is required.
• JD or Advanced/graduate degree equivalent preferred.
• 10+ years of experience administering complex fiduciary relationships, with a leadership role within Wealth Management, or equivalent work experience in the wealth management/legal services industry.
• The RFM should have effective communication skills, substantial knowledge of fiduciary laws, and a working knowledge of best practices, to insure delivery of a consistent and prudent fiduciary decision-making experience to WM clients.

At BNY, our inclusive culture speaks for itself. Here’s a few of our awards:

• America’s Most Innovative Companies, Fortune, 2024
• World’s Most Admired Companies, Fortune 2024
• Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
• Best Places to Work for Disability Inclusion, Disability: IN – 100% score, 2023-2024
• “Most Just Companies”, Just Capital and CNBC, 2024
• Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
• Bloomberg’s Gender Equality Index (GEI), 2023

Our Benefits and Rewards:

BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter. 

BNY is an Equal Employment Opportunity/Affirmative Action Employer - Underrepresented racial and ethnic groups/Females/Individuals with Disabilities/Protected Veterans.

 

Employer Description:

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.

EEO Statement:

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans. Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.