Trust Officer ICanandaigua National Bank Location: Pittsford, NY (4 days in office/1 day work from home)
What does a Trust Officer do?A Trust Officer at Canandaigua National Bank provides complete trust services to include estates, personal trusts, guardianships, corporate trusts, Supplemental Needs Trusts, and any other appropriate fiduciary capacity. The Trust Officer assumes responsibility for the administration and discharge of the bank's legal/fiduciary responsibility for all assigned estate and trust accounts. This position would be responsible for retaining business along with obtaining new business opportunities, while achieving goals developed for the function as part of the CNB Wealth's annual operating plan.
What is needed to be successful in this role?- A B.A. or B.S. degree in a field related to banking normally required.
- Juris Doctor (JD) or master's degree preferred.
- A minimum of five (5) years' experience administering fiduciary accounts normally required.
- Related legal/business experience in the financial services industry, including trust and estate planning experience preferred.
- Knowledge of government benefits for disabled beneficiaries preferred, including benefits considerations relevant to the administration of Supplemental Needs Trusts.
- CTFA (Certified Trust and Financial Advisor) certification preferred.
What does a successful first year in this position look like?- Provides bank customers with complete trust services to include estates, personal trust, guardianships, corporate trusts, and any other appropriate fiduciary capacity.
- Assumes responsibility for the administration and discharge of the bank's legal/fiduciary responsibility for all assigned estate and trust accounts by performing the following duties:
- Makes a complete analysis of requirements of the assigned accounts; studies nominating instrument, determines cash requirements, and anticipates tax consequences.
- Reviews wills and trust agreements in setting up accounts to determine fiduciary responsibilities.
- Administers Supplemental Needs Trusts, including consideration of beneficiary needs, applicable trust terms, and coordination with government benefits requirements for disabled beneficiaries.
- Arranges meetings with clients or other interested parties as necessary.
- Directs the collection, appraisal, safekeeping, disposition and accounting for all tangible personal property, in accordance with the terms and conditions of the fiduciary agreement, under which the bank is appointed and the policies and procedures of the CNB Wealth.
- Confers with clients, heirs, attorneys, and other interested parties as necessary over the life of the account to explain the bank's role; resolves problems, establishes the needs and interests of each, and provides assistance.
- Coordinates with the Wealth Advisor to monitor the cash and investments of each account with consideration of the objectives of the accounts, the needs of beneficiaries, and cash requirements for taxes and distributions.
- Maintains an active awareness of changes in legal requirements which may affect trust and estate accounts, in connection with the SCPA and EPTL.
- Prepares and maintains documentation, status records and reports on trusts, estates, business development, and financial planning activities; prepares various reports, statements, and forms including tax, regulatory, and other governmental forms as required.
- Actively engages in customer activity to meet the required annual CNB Wealth goals as established as part of the CNB Wealth's operating plan. (To include but not limited to New Business Development, Revenue Growth, Asset Retention, Compliance Reporting and Line of Business referrals).
- Performs tasks which are supportive in nature to the essential functions of the job, but which may be altered or re-designed depending upon individual circumstances.
Compensation range- $82,500 - $102,000
The actual salary offered within the range is dependent on a variety of factors including, but not limited to, relevant experience, qualifications, skills, level offered, and performance expectations.
