Trust Manager
3 days ago
Special Instructions to Applicants: All interested applicants please attach a cover letter and resume in PDF format.
About Rice:
Boasting a 300-acre tree-lined campus in Houston, Texas, Rice University is ranked among the nation's top 20 universities by U.S. News & World Report. Rice has a 6-to-1 undergraduate student-to-faculty ratio and a residential college system, which supports students intellectually, emotionally, and culturally through social events, intramural sports, student plays, lecture series, courses, and student government. Developing close-knit, diverse college communities is a strong campus tradition, which is why Rice is highly ranked for best quality of life and best value among private universities.
Rice is also a wonderful place to work. Rice faculty, staff, and students share values that are essential to our success as a healthy community. Those values guide our decisions and behaviors and shape Rice's culture. They come through in the way we treat each other and the welcome we extend to our visitors. These values can be recalled simply by our name -- RICE -- Responsibility, Integrity, Community, and Excellence.
Position Summary:
The Trust Manager runs the charitable remainder trusts, estates, and other accounts of Rice Trust Inc. (RTI), Rice University's wholly owned trust company, and other deferred gift accounts of the University, including the charitable gift annuity pool. The role monitors the services performed by the outside investment manager and administrator. RTI is a registered Texas Trust Company under the supervision and review of the Texas Department of Banking.
As of spring 2024, there are 53 charitable remainder trusts and 137 charitable gift annuity contracts.
The Trust Manager role also manages a Pre-1969 Trust with 20 beneficiaries including Rice University, an estimated life of 37 years, and its own board of trustees.
The ideal candidate will be a personal trust officer who is an effective communicator, detail-focused, and able to think proactively and creatively to help Rice University's mission by facilitating charitable giving.
Minimum Requirements:
- Bachelor's Degree
- 3+ years of relevant experience as a trust officer and/or a trust and estate attorney
Skills:
- Ability to take a proactive approach to working in a high-performing and collaborative environment as an active member of Development and Alumni Relations (DAR) and the Gift Planning team
- Ability to ensure a donor-centered approach
- Strong oral and written communication skills
- Strong quantitative skills and data fluency
- Aptitude to learn new software systems
- Proficiency with Microsoft Office suite
- Strong analytical and problem-solving skills
- Excellent relationship skills and emotional intelligence
- Maturity in judgment and ability to maintain confidentiality
- Very strong attention to detail
- Very strong organizational and time management skills
- Ability to work to meet deadlines, take initiative and be adaptable
- Creativity, enthusiasm and confidence to complete projects
- Juris Doctor from an ABA-accredited law school
Preferences:
- 5+ years of relevant experience as a trust officer and/or a trust and estate attorney
- CPA, CFP, or CFTA certification
Essential Functions:
- Oversee activities of the external administrator and investment manager, currently TIAA Kaspick (Kaspick), for the trusts and Rice's charitable gift annuity program
- Partner with and provide non-legal guidance to Development and Alumni Relations (DAR) personnel, donors, and beneficiaries regarding trust, gift annuity, and estate matters relating to the structuring of potential gifts or administration of existing gifts
- Provide non-legal advice and guidance to the RTI Board of Directors and the Pre-1969 Trust Properties Trustees
- Prepare agenda materials and other analysis for quarterly RTI Board of Directors meetings and the Pre-1969 Trust Trustee meetings
- Act as liaison between RTI and the Texas Department of Banking
- Collaborate with the Gift Planning, Treasury and Finance, and Investment Accounting departments to ensure realized charitable deferred gifts are allocated in accordance with applicable governing documents
- Work with in-house and outside legal counsel to draft trust agreements and resolve complex trust and estate matters
- Coordinate with in-house and outside legal counsel, the accounting team, and consultants to complete reports, analyses, and duties for estates and other accounts under administration
- Create or improve processes for evaluating and accepting complex gifts, outright or in trust
- Review and approve annual trust and fiduciary income tax returns, and prepare work papers for RTI's annual tax filing
- Review annual, quarterly, and ad hoc state filings in connection with Rice's charitable gift annuity program
- Prepare monthly journal entries related to RTI corporate activity for the University accounting system and Texas Department of Banking quarterly reports
- Prepare quarterly and annual reconciliations of trust system accounts and custodian accounts
- Prepare annual work papers for internal and external audit examinations and Texas Department of Banking examinations
- Perform all other duties as assigned
Additional Functions:
- Monitor externally managed trusts that will benefit Rice upon termination
- Review charitable gift annuity agreements and related documentation before sent to donors
- Review and assist in the preparation of inherited IRA applications and anti-money laundering/Know Your Customer compliance requests
- Serve on university committees as assigned, e.g., gift acceptance committee
- Prepare special analyses or ad-hoc reports as requested
- In coordination with in-house and outside counsel, draft and negotiate endowed fund agreements and other gift agreements
- In coordination with in-house and outside counsel, review and negotiate as necessary receipt, release, and refunding agreements and other estate-related documentation
- Maintain current knowledge of legal and tax regulations impacting charitable giving and assist in training and informing DAR staff
- Monitor state gift annuity regulations and advise Gift Planning staff accordingly
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