Trust Officer

Overview

At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer commercial banking, wealth management, investment management, insurance and risk management, and benefit plan administration.

Just as our employees are committed to helping our customers manage their finances, we’re committed to our employees. After all, they make it happen for our customers every day.

To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.

A Trust Officer 3 is responsible for developing, servicing and administering assigned accounts in a fiduciary capacity in accordance with account agreements, terms of legal documents, Trust Policy, state fiduciary statutes, banking regulations, and federal/state laws. In addition servicing existing accounts the Trust Officer III will be expected to develop new business opportunities for the department. The nature of the accounts are more complex, are of significant asset size, include a variety of asset types, and overall have increased difficulty or are considered of higher risk to the Bank.

The types of accounts serviced include but are not limited to: non-discretionary agency accounts; discretionary agency accounts; directed and discretionary IRAs; guardian ships/conservatorships; various types of trusts including revocable, irrevocable, and testamentary trusts; and estate settlement accounts. Responsibilities include, but are not limited to:

• Administer accounts in accordance with stated account agreements and/or legal documents to ensure fiduciary duties and responsibilities are carried out to avoid risk and/or surcharges to the Bank.
• Administer and settle estates in accordance with a decedent’s Last Will & Testament.
• Respond to inquiries or requests for information from clients/beneficiaries, accountants, attorneys, courts, interested parties, auditors, regulators, and internal Bank personnel, as appropriate.
• Document account files to reflect client/beneficiary communications, instructions, and authorizations to avoid/minimize risk to the Bank.
• Communicate account instructions/changes, as needed, to Trust Management, portfolio managers, tax preparers, and operations personnel.
• Work with portfolio managers in the development of investment objectives and policy statements.
• Maintain updated account files and ensure trust accounting system reflects accurate coding for regulatory and risk management purposes.
• Perform annual administrative reviews on accounts, and other annual, quarterly, daily, and/or recurring tasks as required by applicable policies, laws and regulations, governing documents, and/or court orders.
• Direct liquidation of funds, when needed, for distributions and/or expenses from account.
• Analyze, recommend or determine discretionary distribution decisions in accordance with legal instrument and Trust Policy.
• Oversee and administer unique/non-standard assets in accounts, including real estate, when applicable.
• Prepare interim and final accountings for trusts and estates, as needed.
• Develop and maintain relationships with Wealth Management personnel for cross selling business opportunities.
• Develop and maintain relationships with area market…