Trust Department Risk Management: Preparing for an Examination

Assess your trust department’s risk exposures

Author: Becky T. Kelly, Roger A. Pond, David D. Butler
Format: 3-Ring Binder with CD
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The trust department is now on the regulators radar as trust fiduciary responsibilities expand with new products and an aging population. Bank examiners are recommending that institutions use a risk-based approach to assess their trust department’s risk exposures, which in the past have not been thoroughly analyzed. As a result, trust departments need to have in place specific mechanisms and procedures for managing risks related to their fiduciary activities.

Trust Department Risk Management: Preparing for an Examination provides step-by-step guidance to help you:

Develop policies and procedures
Conduct self- assessments
Comply with the Uniform Interagency trust rating system or MOECA
Plan for disaster recovery and business resumption

This comprehensive manual is designed to help the trust department manager deal with issues such as:

Due diligence considerations when outsourcing
Board of Directors responsibilities for fiduciary activities
Organizing committees to provide effective fiduciary oversight
How an internal audit can ease the overall Examination

The manual also includes sample matrices, sample worksheets, and checklists to help you easily monitor and control your risks while documenting your efforts for the examiners.

About the Authors

Becky T. Kelly is currently a partner in The Fiduciary Education Center, LLC, and has been in the trust industry for 30 years. Most recently she managed a community bank trust company. Previous to that she was with Campbell University in the Trust Program and worked with Bank of America and predecessors for 24 years. She is the Dean of the Southeastern Trust School and Executive Director of the Trust Education Foundation, Inc. Kelly is a Certified Trust and Financial Advisor. She holds a B.S. from Longwood College and an M.B.A. from James Madison University. She is a graduate of Southeastern Trust School, National Graduate Trust School, and Cannon Trust Schools I, II and III.

Roger A. Pond is a Professor Emeritus of the Trust Program at Campbell University, the only university to offer a trust degree in the United States. During Ponds 30 year trust career, he managed personal trust, employee benefits, corporate trust, and trust support areas including tax, real estate and endowments, and foundations. He is the assistant director of the Southeastern Trust School and the Certifying Trust Bankers School at Pinehurst as well as a director of the Trust Education Foundation, Inc., and a member of the Duke Estate Planning Council. Pond holds a B.A. from Duke University and a J.D., cum laude from Washington and Lee University in Lexington, VA.

David D. Butler, CFP®, CFSC, has 25+ years experience in the trust and investment management field, including compliance management, financial analysis, auditing, relationship and portfolio management, wealth management sales, and risk assessment. Mr. Butler was a National Trust Examiner with the Office of the Comptroller of the Currency. He is a Certified Financial Planner™ and Certified Financial Services Counselor. Mr. Butler has been a faculty member of the Southeastern Trust School since 1991. He is also a director and past president of the Trust Education Foundation of Campbell University.