SUMMARY:
The Wealth Management Officer, Estate Settlement will be the lead advisor responsible for managing client relationships and account administration with a particular focus on estate settlement. Assigned account relationships will include estates, personal trusts, court-ordered guardianships and conservatorships, investment management and retirement accounts.
The incumbent will be required to have a well-rounded background in wealth management including client service, trust administration and estate settlement. The incumbent will manage client relationships individually, as well as within a team setting. The ability to consult with other professionals including attorneys in the process of preparing and drafting legal documents in which the Bank is to be named fiduciary to ensure that the terms of such documents are acceptable to the Bank is required.
The incumbent will have a strong wealth management, fiduciary and estate settlement background and act as an advocate for clients by facilitating all of their financial dealings with the Bank.
ESSENTIAL JOB FUNCTIONS & RESPONSIBILITIES:
Estate Settlement
- Directs and coordinates activities related to the probate of wills and the administration of decedents’ estates.
- Inventories, gathers, secures and appraises decedent’s assets and ensures appropriate investment of the same during the probate process.
- Coordinates the preparation of probate court filings, as well as state and federal estate and fiduciary income tax returns.
- Distributes estate assets to beneficiaries in accordance with state law and/or the decedent’s will or trust.
- Maintains active communication with Bank colleagues, clients, beneficiaries, and legal counsel.
- Directs and manages all activities regarding the Will File database, including monitoring system integrity, ensuring accuracy of records, managing additions and deletions to the system and associated reporting functions.
Client Service
- Performs in the role of a trusted financial advisor by coordinating and developing strategies to effectively deal with all aspects of the clients’ financial situation.
- Acts as an advocate for clients in order to facilitate all of their financial dealings with the Bank.
- Facilitates new relationship on-boarding and annual service standards.
- Monitors the resolution of client service issues.
- Prepares client communications as needed.
- Responds to routine requests from clients regarding their accounts.
Account Administration
- Coordinates and manages all phases of account administration including account opening, closing, quality assurance and annual account review.
- Directs and coordinates activities relative to administering investment management and retirement accounts and a variety of trust accounts in accordance with their governing instruments, as well as applicable state and federal laws.
- Directs and coordinates the disbursement of funds according to the conditions set forth in the accounts’ governing instrument.
- Participates on the Trust Administrative Committee (TAC) to evaluate the propriety of discretionary disbursements and otherwise monitor the administration functions of the Trust and Asset Management Department as needed.
Compliance
- Maintain current knowledge and understanding of legal, tax and/or legislative changes that affect trust, estate settlement and investment activities.
- Must have knowledge of trustee responsibilities relative to investing trust assets, specific securities laws, OCC Regulation 9, FDIC regulations and relevant ethical issues.
- Performs all duties in accordance with prescribed regulatory compliance guidelines. Must have understanding of the fundamental tenets of trust law.
Team Collaboration
- Participates on various committees on behalf of the business. Provides input and advice on business issues.
- Provides any support necessary to promote and support the acquisition of new customers for the Bank. Participants in Bank regional meetings and relationship team meetings as appropriate.
- Participates in meetings with prospects and clients to acquire new business for the Bank and aid in the retention of existing clients.
EDUCATION, CERTIFICATIONS: (Minimum education required to perform the duties of this position)
- Bachelor’s Degree required.
- Advanced trust school or other professional certifications, e.g. Certified Trust and Fiduciary Advisor (CTFA) preferred.
- Ability to obtain job specific certifications required.
KNOWLEDGE, SKILLS & ABILITIES:
- Minimum of five years’ experience in fiduciary services, trust administration and client relationship management. Experience working in Bank Trust estate settlement preferable.
- Detailed knowledge of fiduciary and estate settlement principles required.
- Strong knowledge and skill level of computer applications and a desire to learn new applications.
- Commitment to continuing education.
- Excellent interpersonal skills.
- Commitment to the highest fiduciary standards and customer service ethic that aligns with the Bank’s core values.
- Must have cyber security awareness to protect the digital environment, the Bank, and customers.
COMPETENCIES:
- Business Acumen
- Culture/Guest/Customer Service Ambassador
- Sound Judgment
- Delegation
- Technology Enthusiast/Early Adopter
- Problem Solving
- Excellent Verbal and Written Communication Skills
- Critical Thinking Skills
- Financial Comprehension
- Learning Agility
- Entrepreneurial competencies
#J-18808-Ljbffr
