JOB SUMMARYThis position is responsible for overseeing the operational functions of Trust Services and Wealth Management ensuring the accurate and timely posting, reporting and maintenance of client accounts and transactions. The role provides oversight of key operational processes, controls, systems, and reporting functions to support risk management, regulatory compliance, and service excellence.
ESSENTIAL FUNCTIONSOversee Trust Accounting System (25%)- Serves as a liaison with the software provider to resolve operational problems and coordinate timely resolution with vendors and internal stakeholders.
- Administers Trust Accounting System, ensuring integrity, accuracy, security and reporting of client information.
- Oversees system controls, account setup and maintenance, operational reporting, and management approvals to ensure compliance with established procedures and operational standards.
Account Management (20%)- Directs accurate and timely settlement of clients' security trades including mutual funds, equity and fixed income, while monitoring mutual fund balances and resolving trade-related issues.
- Leads client service and retention efforts, including answering questions, conducting necessary research and responding to clients and internal relationship managers in a timely manner.
- Manages the processing and establishment of New Accounts by reviewing account-opening documentation, resolving deficiencies and coordinating the transfer of securities and funds to the new account to ensure accurate account setup and timely onboarding.
- Manages the processing of client accounts, ensuring the accurate and timely receipt, distribution, and recording of money and securities transactions while maintaining dual-control procedures and operational safeguards.
- Directs operational transaction reviews, approvals, and account maintenance activities, ensuring compliance with established procedures, dual-control requirements, and data integrity.
- Investigates, escalates, and resolves operational exceptions, discrepancies, and processing issues while maintaining accurate account records and transaction processing.
Account Reconciliation (20%)- Ensures the accurate and timely completion of account reconciliations, including DDA and Suspense accounts, and serves as backup for annual escheatment processing for the States of Nebraska and Iowa.
- Maintains balanced cash and DDA accounts within the Trust Accounting System; assists operations team with research and resolve any out of balance issues.
- Leads reconciliation controls and management review processes to ensure the accuracy, completeness and timely resolution of outstanding items.
- Serves as dual-control reviewer for designated reconciliations, Daily Net Settlement activity and related wire transactions, escalating discrepancies as necessary.
Develop & Implement Division's Policies, Procedures & Operational Requirements (10%)- Develops, maintains, and implements division policies and procedures that support accurate, consistent, and compliant trust operations.
- Establishes operational controls, workflows, and standards that promote efficiency, accuracy, appropriate risk management, and segregation of duties.
- Reviews and updates policies and procedures based on regulatory changes, audit findings, system enhancements, and operational needs.
- Monitors adherence to established requirements and partner with Trust Administration, Compliance, Risk, and Audit to address gaps and implement improvements.
Asset Management (10%)- Ensures accuracy of deposits, withdraws, safeguards and maintains client assets including depositing & withdrawing assets from the vault using the dual control system and conducting semi-annual vault count under dual control process.
- Provides enhanced knowledge of securities valuation including date of death valuations and maintenance of cost basis.
- Coordinates the timely processing of corporate action notices and related client account activity, including tender offers, communication with investment officer, tracking progress and posting per custodian notification.
Leadership (10%) - Manages employees within department including but not limited to hiring, training and developing employees, delegating work assignments, writing and conducting performance appraisals, salary recommendations, coaching and counseling, and administering corrective actions.
Regulatory Reporting & Specialized Account Administration (5%)- Coordinates regulatory filings, tax-related operational activities, and specialized account processing.
- Coordinates and reviews required state and federal tax filings, estimated tax payment processing, and related reporting requirements.
- Oversees operational support for retirement plans, employee benefit accounts, loan repayment programs, and other specialized fiduciary account relationships.
- Ensures timely completion of periodic reporting and processing requirements associated with specialized account administration.
Performs other duties as required and assigned.KNOWLEDGE, SKILLS AND ABILITIES- Advanced knowledge of trust accounting operations, policies and procedures including dual control safeguards.
- Comprehensive knowledge of all types of accounts including trusts, agencies, retirement plans, foundations, employee benefits administration, and investments.
- Comprehensive knowledge of trust administration policies and procedures, ERISA regulation IRS codes and regulations.
- Comprehensive knowledge of various types of securities, asset classes, and fiduciary income tax implications.
- Advanced knowledge of internal controls, risk management principles, and operational governance practices.
- Strong customer relation skills, self-motivation, attention to detail, and ability to work independently
- Familiarity with portfolio accounting, trading, and custody platforms.
- Proven ability to design, implement, and maintain effective operational processes and controls.
- Demonstrate a collaborative, team-oriented approach.
- Ability to interpret and apply regulatory, audit, and compliance requirements to operational processes.
- Strong leadership, coaching, and employee development skills.
- Skills to operate a PC, word processing and spreadsheet applications, preferably in MS Office
- Ability to respond timely to multiple client/administrative problems.
- Ability to maintain predictable and reliable attendance.
- Ability to complete the required training by assigned due date.
EDUCATION* - Minimum of a bachelor's degree in business administration, finance or related field required.
- Certified Trust Operations Professional preferred.
EXPERIENCE*- Minimum of 5-7 years of progressively responsible experience in trust operations, wealth management operations, securities processing, account administration, cash processing/reconciliation, and/or a combination thereof required.
- Minimum of 3 years of proven experience in leading and motivating a team required.
*Equivalent education and experience will be considered
