Trust Officer

Job Overview

A trust officer is a highly experienced, versatile fiduciary professional with a customer service focus. They are charged with the professional administration, management and servicing of assigned trust accounts.  The position requires:  1.)  Excellent written and verbal communication skills; 2.) A client forward service mentality; 3.)  Ability to follow processes and procedures; 4.)  Above average attention to detail for record-keeping, tax, statement compliance, and general administrative expertise; and 5.)  In-depth understanding and utilization of trust administration. 

Responsibilities and Duties:

• Review and administer trusts in accordance with governing instrument and applicable law.


• Collaborate with investment advisors and respond to inquiries related to all matters of administration.


• Ensure all internal compliance and proper documentation requirements are satisfied, consistent with internal fiduciary policies and procedures.


• Review discretionary distribution requests from beneficiaries and make recommendation; properly documenting decision to approve or deny.


• Oversee and delegate administrative duties effectively, including internal processes, distribution and cash management.


• Participate in new account opening process by reviewing governing instrument and other necessary documentation.


• Correspond with prior trustees to ensure all proper documentation and information is received to ensure administrative continuity.


• Prepare instructions and coordinate with Operations to arrange for receipt of assets from prior custodians.


• Initiate and monitor account closing processing with Operations ensuring proper delivery of assets.


• Prepare Releases, Proposed Distribution Schedules and any other necessary closing documents for either the distribution or transfer of accounts. Coordinate and follow-up with Operations to ensure proper delivery of assets.


• Conduct initial and periodic administrative account reviews evaluating risk, profitability, proper system coding and ongoing account administration.


• Maintain an understanding of trust taxation and tax implications of distributions.


• Coordinate preparation of fiduciary tax returns, including, but not limited to, engagement letters, communication with accounting professionals, track, review and file tax returns, monitor processing of tax payments and tax preparation fees.


• Maintain all fiduciary and administrative documents and history in an image-based document management system and CRM for each trust relationship for administrative management and continuity.


• Stay current regarding any developments in National and South Dakota trust law and communicate that information to trust team at NATC and how those developments may affect trust accounts.


• Educate and build relationships with our client RIAs, as well as their clients and estate planning professionals.


• Compliance with BSA/AML/OFAC-related laws and regulations as it applies within the scope of this position, including but not limited to, prompt completion of required BSA/AML/OFAC training.


• Additional duties and special projects as needed.

Organizational and Analytical Skills include:

• Excellent verbal and written communications skills.


• Excellent analytical skills with the ability to exercise independent judgment consistent with guidelines.


• Strong attention to detail with a high degree of accuracy, and the ability to perform multiple tasks in a fast-paced team environment.


• Work independently and be able to effectively organize daily office operations to ensure sufficient handling and processing of information, record keeping, correspondence, and special project work.


• Ability to organize and prioritize workflow to meet strict deadlines.


• Ability to independently develop solutions to problems of moderate scope and complexity.


• Strong follow through and responsiveness.


• Ability to interact effectively with management and co-workers on a regular basis, be a team player


• Ability to maintain confidentiality.

Qualifications:

• Undergraduate degree; Advanced designation such as CTFA, CFP or JD preferred.


• A minimum of five (5) years’ experience in personal trust administration, estate planning or wealth management, some experience in a directed trust environment strongly preferred.


• Strong critical thinking and problem solving with the perseverance to bring challenges to resolution.


• Must be able to work in a risk-based culture, identifying legal and compliance issues, mitigating risk.


• Microsoft Office applications (Word, Excel, Outlook, CRM, and PowerPoint).


• FIS AddVantage preferred.

Physical Requirements:

• Must be able to remain in a stationary position for prolonged periods of time.


• Will occasionally move about inside the office to access file cabinets, office machinery, etc.


• Constantly operates a computer and other office productivity machinery, copy machine, and computer printer.


• Occasionally requires lifting objects that are 20 pounds to a height of 3-4 feet

This job description is subject to change at any time.