Trust Real Estate Specialist

Wealth Management Tacoma, Washington


Oversees administration of real estate and other unique assets directly owned by trust accounts and monitors the performance of LLC managers for interests held by trust accounts. Coordinates with the portfolio managers in creating and revising the Investment Policy Statement (IPS) for each new account and relationship to ensure all specialty assets held in fiduciary accounts are of sound quality and are consistent with the directives of the trust instruments.

Essential Job Functions:  
General Overview:

  • Provide oversight of fiduciary relationships to ensure specialty assets are of sound quality and are providing capital growth, preservation and/or diversification. Oversee risk management of portfolios that retain specialty assets.
  • Participate in and enhance marketing strategies to increase assets under management.
  • Assist management in developing policies and procedures for real estate and specialty asset management.
  • Oversee multiple property management firms and coordinate lease, sale and acquisition transactions.
  • Supervise assets throughout multiple states and travel as needed.
  • Ensure that specialty asset administration complies with governing regulations (Reg 9); responsible for monthly compliance reporting.
  • Responsible for making recommendations to trust relationship managers of any actions necessary with trust real estate and unique assets. 

Real Estate

  • High level understanding of real estate and portfolio management, including property management and working with third party property managers.
  • Understand general accounting principles to determine investment risks and opportunities. Provide strategic leadership of asset administration.
  • Experience with IRC 1031 tax-deferred exchange transactions.
  • Strategically select and manage/partner with outside entities to oversee real assets including timber holdings and agriculture.
  • Solid understanding of real estate laws in Oregon, Washington and Idaho.

LLCs, Partnerships, other Closely Held Interests

  • Evaluate agreements, the purpose of the business structure and related financial transactions
    and the risks/responsibilities/rights of the trust in relationship to the overall trust portfolio.
  • Monitor the financials of the entity to understand what is happening within the company.
  • Contact the company to obtain needed information.

Irrevocable Life Insurance Trusts (ILITS)

  • Familiarity with ILIT structures, including Crummy letters and policy premium deadlines.
  • Coordinate with trust relationship managers to ensure that Crummy letters and policy premiums are paid on time.
  • Gather and evaluate relevant information to ensure contracts are of sound quality; recommend purchase or exchange of policies when prudent.

Oil, Gas & Mineral (OGM) Rights

  • Familiarity with legal framework for OGM interests, including royalty and leasehold interests, surface and mineral rights, contracts, purchase and sale offers, and ownership documentation issues.
  • Capable of supervising selected outside entities to manage any OGM interests.

All employees are responsible for internal controls in the performance of their assigned duties. Internal Control responsibilities are established in various policies, procedures, and documents, including the Code of Conduct.

Minimum Job Requirements:

  • Proven track record in trust asset management and fiduciary administration, specifically in real estate and unique assets.
  • Strong financial analysis skills
  • Strong personal computer skills in spreadsheet preparation
  • Strong organizational and project management skills
  • Ability to work effectively in a cooperative team environment
  • Strong verbal and written communication skills
  • Availability to travel to other worksites and locations as needed.
  • Must be a minimum of 18 years of age
  • BA/BS in business/finance and/or equivalent combination of experience and training normally gained through 10+ years of work experience.

Physical and Mental Requirements:

  • Ability to sit at a computer monitor for extended periods of time
  • Ability to perform repetitive finger, hand, and arm movements
  • Ability to lift up to 15lbs.
  • Ability to effectively discern information and formulate appropriate action
  • Ability to reach, squat, bend, and manually manipulate standard office equipment

Values and Behaviors:

  • Build enduring RELATIONSHIPS with clients and each other.
  • Drive INNOVATION that simplifies life and work. 
  • Seek continuous GROWTH in your personal and professional development. 
  • Commit with HEART to serve others.
  • Extend TRUST in order to receive it.