Trust Officer

Overview

A trust officer is a highly experienced, versatile fiduciary professional with a customer service focus. They are charged with the professional administration, management and servicing of assigned trust accounts. The position requires:
1) Excellent written and verbal communication skills;
2) A client-forward service mentality;
3) Ability to follow processes and procedures;
4) Above-average attention to detail for record-keeping, tax, statement compliance, and general administrative expertise; and
5) In-depth understanding and utilization of trust administration.

• Review and administer trusts in accordance with governing instrument and applicable law.
• Collaborate with investment advisors and respond to inquiries related to all matters of administration.
• Ensure all internal compliance and proper documentation requirements are satisfied, consistent with internal fiduciary policies and procedures.
• Review discretionary distribution requests from beneficiaries and make recommendations; properly documenting decision to approve or deny.
• Oversee and delegate administrative duties effectively, including internal processes, distribution and cash management.
• Participate in new account opening process by reviewing governing instrument and other necessary documentation.
• Correspond with prior trustees to ensure all proper documentation and information is received to ensure administrative continuity.
• Prepare instructions and coordinate with Operations to arrange for receipt of assets from prior custodians.
• Initiate and monitor account closing processing with Operations ensuring proper delivery of assets.
• Prepare Releases, Proposed Distribution Schedules and any other necessary closing documents for either the distribution or transfer of accounts. Coordinate and follow-up with Operations to ensure proper delivery of assets.
• Conduct initial and periodic administrative account reviews evaluating risk, profitability, proper system coding and ongoing account administration.
• Maintain an understanding of trust taxation and tax implications of distributions.
• Coordinate preparation of fiduciary tax returns, including engagement letters, communication with accounting professionals, track, review and file tax returns, monitor processing of tax payments and tax preparation fees.
• Maintain all fiduciary and administrative documents and history in an image-based document management system and CRM for each trust relationship for administrative management and continuity.
• Stay current regarding developments in National and South Dakota trust law and communicate that information to trust team and how those developments may affect trust accounts.
• Educate and build relationships with client RIAs, their clients and estate planning professionals.
• Compliance with BSA/AML/OFAC-related laws and regulations as it applies within the scope of this position, including prompt completion of required BSA/AML/OFAC training.
• Additional duties and special projects as needed.

• Excellent verbal and written communications skills.
• Excellent analytical skills with the ability to exercise independent judgment consistent with guidelines.
• Strong attention to detail with a high degree of accuracy, and the ability to perform multiple tasks in a fast-paced team environment.
• Work independently and be able to effectively organize daily office operations to ensure sufficient handling and processing of information, record keeping, correspondence, and special project work.
• Ability to organize and prioritize workflow to meet strict deadlines.
• Ability to independently develop solutions to problems of moderate scope and complexity.
• Strong follow through and responsiveness.
• Ability to interact effectively with management and co-workers on a regular basis, be a team player.
• Ability to maintain confidentiality.

• Undergraduate degree;
  Advanced designation such as CTFA, CFP or JD preferred.
• A minimum of five (5) years’ experience in personal trust administration, estate planning or wealth management, some experience in a directed trust environment strongly preferred.
• Strong critical thinking and problem solving with the perseverance to bring challenges to resolution.
• Must be able to work in a risk-based culture, identifying legal and compliance issues, mitigating risk.
• Microsoft Office applications (Word, Excel, Outlook, CRM, and PowerPoint).
• FIS Add Vantage preferred.

• Must be able to remain in a stationary position for prolonged periods of time.
• Occasionally move about inside the office to access file cabinets, office machinery, etc.
• Constantly operates a computer and other office productivity machinery, copy machine, and computer printer.
• Occasionally requires lifting objects that are 20 pounds to a height of 3-4 feet.

This job description is subject to change at any time.