Trust Officer tasks and duties:
- Represents the firm in interactions with clients, attorneys, beneficiaries, and other related parties.
- Administers designated personal accounts; researches and analyzes the trust instrument; determines and adheres to the responsibilities, duties, and terms of the governing trust document; monitors account activity ensuring compliance with established policies, procedures, rules, and regulations. Interacts, corresponds, informs, and resolves more complex challenges with clients, beneficiaries, portfolio managers, attorneys, CPAs, and other professionals related to account administration.
- Develops new business and refers other firm officers as appropriate to new business prospects.
- Attains suitable documentation on accounts; authorizes payments from accounts, considers tax liabilities, and approves discretionary payments in agreement with firm policies.
- Oversee estates from asset collection through court processes and distributions per terms of will.
- Protect, insure, and oversee sale of real estate, financial assets, collections, and personal property.
- Locate tax returns and financial records for final tax returns and coordinate preparation and filing.
- Represent the firm as trustee with irrevocable and revocable trusts from evaluating documents, accepting a fiduciary role, collecting cost and tax information through investment process and final distribution.
- Open and coordinate investment role with investment management accounts for personal and individual retirement account assets.
- Collect assets with cost basis and acquisition dates and assess with client special investment requirements and investment objectives.
- Coordinate meetings with portfolio managers.
- Contact clients with required minimum distributions from IRAs and order distributions as well as other distributions from IRAs.
- Open, collect assets, and tax information for custody accounts.
- Assess advantages of managed accounts and attempt to upgrade fee level.
- Transfer cash and assets as requested.
- Develop and maintain relationships with area lawyers, accountants, and centers of influence for business referrals.
- Maintain internal assessment of all accounts and coordinate with portfolio managers when needed.
Accountable for the complete administration of personal trust accounts including estates, trusts, guardianships, and agencies up to and including moderately multifaceted relationships. Represents firm in court appearances and in business-associated events including professional organizations, conferences, and seminars, and in other like settings.
Requirements of this Position:
- Bachelor’s degree required; JD preferable, yet not required.
- Minimum of 8 (eight) years of estate and trust administration experience.
- Outstanding verbal and written communication skills.
- Highly proficient per Microsoft Office Suite (Word, Outlook, Excel, etc.).