Trust Officer
A Trust Officer is a banking professional who services trusts and investments. This is a relationship-based role, where customers can span generations. This role can service private and corporate trust accounts.
Trust Officer Qualifications:
- Bachelor’s degree or equivalent
- JD and/or Masters degree
- 5-7 years of relevant trust administration experience
- Strong teammate who enjoys collaboration with internal partners
- CTFA, CFP, CFA, CES, or equivalent
- Trust investment knowledge and/or experience with brokerage and/or delivery of trust services through alternative channels
Trust Officer Responsibilities:
- Responsible for trust account servicing, including ongoing account reviews, discretionary distribution reviews, relationship building with advisors, clients, and attorneys, assisting in researching legal issues, knowledge of state and federal statutes governing trust administration, and assisting in interpreting and executing actions as advised by governing documents including Wills, Trusts, Codicils, Amendments, FLP, Contracts, etc.
- Actively participate in Trust Administrative Sub-Committee meetings
- Perform administrative account reviews annually
- Accountable for servicing and retention of existing accounts
- Supervise and monitor new account establishment and funding
- Work with advisors, internal trust team, attorneys, accountants, and family members to ensure timely and accurate estate settlement including review documents to assist in figuring out dispositive provisions, review/approve payment of final expenses, coordinate gathering of material/documents for the final income tax return and estate tax return, assist in settling other asset flow into trust/estate, ensure proper distributions made to beneficiaries, ongoing communication with beneficiaries and advisors, etc.
- Coordinate preparation of trust tax returns and agency letters with an accountant, address coding and other issues impacting preparation of returns, assist in the development of new policies and procedures to address improvements and changes, review tax returns for accounts administered, assist other team members to help ensure timely preparation and review of all returns is completed.
- Lead and/or participate in projects as a subject matter authority (e.g., IRA development, coordination with Financial Planning, system conversions, team process improvements, etc.)
Requirements:
- Microsoft Excel skills required
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