Spinnaker Trust / Senior Relationship Administrator / Portland, ME
Spinnaker Trust is seeking a Senior Relationship Administrator, to be based in the Portland office. Spinnaker Trust offers financial planning, trustee services, investment management and administration of Employee Stock Ownership Plans. Spinnaker Trust has been named to the list of Best Places to work in Maine for the past 5 years.
Job Summary:
Administers assigned accounts to support account objectives and to ensure compliance with account objectives, governing instruments, applicable laws and regulations, and Spinnaker Trust’s policies and procedures. The position maintains direct contact with clients and related parties and works collaboratively with team members while independently evaluating administrative issues, identifying appropriate next steps, and escalating matters where appropriate.
What We Offer:
Annual salary of $70-80k, dependent upon experience
Generous annual bonus opportunity based on individual, team, and company performance
Health coverage, dental and vision coverage through a flex plan
Hybrid work schedule (3 office days, 2 work from home days per week)
Two retirement plans (401k and ESOP)
Free parking near office in Portland
Business casual dress code
Annual salary reviews
A collaborative team and a fun work environment with plenty of autonomy and career growth
Qualifications:
Minimum of 5 years’ experience in a directly related field at an investment advisory firm, trust company, trust and estate department of a law firm, or bank trust department
Excellent oral and written communication skills, including the ability to communicate independently and professionally with colleagues, clients and outside professionals.
Ability to work with clients and beneficiaries with varying personalities and emotional states (illness, death, for ex.)
Experience in a multitude of software products, such as Black Diamond Trust, Fidelity, Charles Schwab, SharePoint, Tamarac
Strong attention to detail and accuracy, together with the ability to identify exceptions, assess risk and determine appropriate next steps
Customer service, diplomacy, adherence to strict confidentiality policies
Knowledge of and have the ability to learn about various kinds of trusts, retirement plans and administration
CTFA or other advanced designation preferred or investment firm experience
Responsibilities and Scope:
Coordinate the opening of personal, Retirement accounts, entity accounts and trust accounts
Coordinate the closure of accounts including ensuring paperwork is received, distributing assets and closing accounts on the appropriate custodial platform in a timely and professional manner
Work with operations team to ensure all anticipated assets and cost basis information are received
Perform annual administrative reviews of assigned personal and IRA accounts for compliance purposes.
Oversee and implement general daily/monthly/annual account transactions (deposits, disbursements, RMDs, gifts, etc.)
Ensure that tax coding and transaction descriptions are correct
QC all disbursements from accounts assigned to the Relationship Administrator
Accurately calculate, distribute, track and communicate with clients on RMDs
Assist with 1040 tax estimate payments and handling
Work with the tax team to ensure proper distribution of tax forms including K1s and 1099s as well as responding to requests from outside accountants and Trust FTC.
Spinnaker Trust was founded in 2001 and works with families and institutions offering financial planning, trustee services, investment management and administration of Employee Stock Ownership Plans (ESOP). Spinnaker Trust has been named to the list of Best Places to work in Maine for the past 5 years!
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