Trust Administrator II
This position will support the assigned Trust Relationship Manager in the administration of trust accounts. Interacts in an ongoing relationship with associated financial partners and trust clients. Assists with account administration functions to ensure client satisfaction. Is an active team member, contributes to complex projects to gain experience, shares ideas and suggests process improvements appropriate for level of experience.
To perform this job successfully, individual must be able to perform each essential duty satisfactorily.
- Cash Management: review cash balances to avoid overdrafts, review document to determine if transfers can be made between portfolios and if there is a co-trustee,
- Contact the assigned portfolio manager or the Trading Desk to raise cash.
- Post receipts, initiate checks/wires/ACHs, resolve account discrepancies.
- Discretionary Memos: Contact/work with client to obtain information to be able to prepare the Discretionary Memo.
- Present memo to TRUST COMMITTEE in the absence of the TO.
- Onboarding of New Accounts: work with all partners to ensure that the new account is set-up properly.
- Coordination and collection of assets.
- Terminating Accounts: Includes preparing releases, dividing assets, and collecting all necessary paperwork; completing all steps on our closing account checklist.
- Participate in the preparation of client presentation materials, read and interpret basic trust agreements/document.
- Coordinate tax information reporting for accounts.
- Monitor and pay tax vouchers submitted by clients or needed by outside preparers.
- Handles account inquiries from clients and beneficiaries, CPAs, FAs, and attorneys.
- Researches account discrepancies.
- Identifies non-routine issues and routes/escalates to appropriate team member.
- Consults with senior peers on semi-complex processes to learn through experience.
- Administers all systems related to management of trust accounts.
- Maintains all account documentation for current and historical monitoring of accounts.
- Special projects and other related duties assigned as needed.
- Strong interpersonal and effective communication skills.
- Ability to review the documents for specific fiduciary language.
- Strong organizational skills and aptitude for detail.
- Working knowledge of Microsoft Office.
- Trust system experience.
- Ability to easily adapt to changing work environment.
- Ability to work well under general supervision with increased latitude for independent judgment.
- Ability to multi-task; work on multiple concurrent projects of medium complexity.
- Bachelor’s degree in Business Administration or other related discipline or equivalent combination of education, training, and work experience.
- 5 years of Personal Trust industry experience required.
Full health, vision, dental, 401(k) plans along with a host of voluntary plans such as car insurance, legal services, and more.