Trust & Estate Administrative Associate

Hyannis Rt132 Banking Ctr
1550 Iyannough Road
Hyannis, MA 02601, USA

Salary Grade : 14

Coordinates activities primarily related to the administration of estate accounts, but also investment management accounts, personal trusts, court-ordered guardian ships, and other fiduciary accounts as required in accordance with the terms of the wills, trusts, court orders, or other governing documents. Coordinates and manages all phases of estate administration including asset gathering, appraisals, tax return preparation, accounting and distributions. Actively communicates with estate beneficiaries, clients and co-fiduciaries and facilitates all of their financial dealings throughout the Bank.

Seeks guidance and direction from Trust Administrative Manager, as well as Estate and Trust Officer as necessary and appropriate.

• Coordinates activities related to the probate of wills and the administration of decedents’ estates.
• Inventories, gathers, secures and appraises decedent’s assets and ensures appropriate investment of the same during the probate process.
• Distributes estate assets to beneficiaries in accordance with state law and/or the decedent’s will or trust.
• Maintains active communication with Bank colleagues, clients, beneficiaries, legal counsel and co-fiduciaries.
• Assists Wealth Management Officer with client servicing function.
• Monitors the resolution of client service issues.
• Prepare client and legal communications as needed.
• Responds to routine requests from clients regarding their accounts.
• In absence of Wealth Management Officer, provides primary contact with clients.
• Coordinates client bill payment, if requested by client and settles debts of the decedent
• Coordinates on demand distribution requests, future dated or recurring distribution requests with Operations.
• Coordinates with operations team to schedule retirement distributions.
• Tax – Coordination both internally and externally to ensure tax preparation is completed for agency, fiduciary and paid preparers. Follow up coordination to ensure amounts due and quarterly tax estimates are submitted appropriately and in a timely fashion.
• Assists clients with online account access issues.
• Works with CC5 retail and operations to provide full customer service to client.
• Collaborates with colleagues in WMS and outside vendors regarding the client experience.
• Works cooperatively with other members of WMS and is willing to extend themselves beyond the general demands of the position. Exhibits an ongoing concern for the business success of the organization as a whole.
• Provides any support necessary to promote and facilitate the acquisition of new customers for the Bank.

• Interacts with colleagues in Trust and Asset Management Department as well as external contacts, such as accountants, attorneys, clients and beneficiaries.
• Assists by gathering and providing account opening documentation for new accounts to be opened on various systems, initiates and coordinates all administrative duties associated with new and existing trust, estate, asset management and custody accounts.
• Verifies account set-up and service for accuracy and completeness; researches problems and prepares corrections related to set-up.
• Communicates with appropriate internal and external personnel to ensure account information is processed within scheduled time frames; researches and resolves any discrepancies.
• Reviews accounts for system compatibility and ensures all information is present and usable from a systems perspective;
  Helps develop creative solutions to system constraints.
• Supports the Departments online portal. Resets client passwords when they are locked or expired. Troubleshoots…