Industry: Accounting, Finance & Insurance•
5 - 7 years
Posted 84 days ago
Service and administer an assigned book of accounts of consisting primarily of High Net Worth family relationships or irrevocable trusts and estate accounts of such complexity that they require administration expertise, ensuring compliance with regulatory requirements and the Bank’s policies and procedures.
1. Maintain regular contact with clients in accordance with established standards of service. Provide quality service to clients and beneficiaries in responding to inquiries.
2. Anticipate client needs, recognize opportunities and recommend appropriate Wealth Management services based on those needs in connection with the Relationship Manager.
3. Assure relationship profitability by monitoring service levels, fee revenue, and the assessment of additional fees for extraordinary services rendered.
4. Prepare and maintain appropriate documentation for transactions ensuring completeness and appropriate customer, co-fiduciary, officer and/or committee approvals.
5. Monitor all account activity by reviewing and validating daily transactions. Maintain documentation of all client contacts, written and verbal, that confirm client discussions and actions.
6. Monitor portfolio of accounts, notify officers and clients of outstanding balances and anticipated cash needed for possible investment and cash requirements for asset purchases, distributions and expense payments; reconcile account cash balances and prepare account status reports.
7. Conduct annual administrative reviews, second reviews and peer reviews with awareness of the administrative risk associated with account administration. Monitor and resolve in connection with relationship managers and Fiduciary Officers exceptions in annual administrative reviews. Coordinate and ensure timely meetings of all deadlines.
8. Work closely with Fiduciary Officer for client fiduciary relationships ensuring that fiduciary standards and practices are observed.
9. Receive requests for discretionary distributions from beneficiaries and prepare appropriate documentation; obtain Fiduciary Officer or committee approvals.
10. Maintain appropriate records of activity and assemble, complete and/or amend related documentation; contact customers to resolve documentation exceptions. Keep activity reports and files as requested; review for accuracy, taking corrective action as required. Prepare files for imaging.
Bachelor's degree or equivalent experience.
Financial services, investment, banking or legal background highly desired
Trust administration or estate settlement experience highly desired.
Ability to work with wide variety of clients and professionals as well as other officers and employees of organization.
Maintain ongoing knowledge of the industry, including investment and financial markets.
Demonstrated oral and written communication skills.
Demonstrated discretion, sound judgment and decision making skills.
Understand and implement Operational Procedures according to company policy.
Thrives working in a team environment.
Strong analytical skills and attention to detail.
· 5+ years Trust Administration experience
· CFTA Certified Trust & Financial Advisor