Trust Administration Department Manager

National Advisors Trust Company (NAT) is a federally chartered trust company with ~$9 billion in assets under administration. Founded in 2001, NAT provides corporate directed trustee and custodian services to the financial services industry and the clients they serve. NATC’s strong and growing asset base makes the company one of the nation’s largest independent trust companies.

The culture within NAT is evolving as NAT continues to adapt and grow in a wealth management industry constantly changing. With a relatively flat organizational structure, the firm’s culture aligns with individuals who have an appetite to ask questions, contribute content, offer new or better solutions, galvanize internal relationships, and serve clients at the highest levels.

A Trust Administration Department Manager is a highly experienced, versatile fiduciary professional who will act as a manager, subject matter expert, and mentor for the Trust Administration department and the Trust Officers. They are charged with overseeing the staff and the administration of all 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; 5.) In-depth understanding and utilization of trust administration; and
6) Team building and leadership skills necessary to oversee a high performing team of professionals.

• Oversee and manage departmental deliverables including:
  • Review and administer trusts in accordance with the document and governing statutes.
  • Analyze and research issues for investment advisors, as required.
  • Review account documentation and ensure compliance with all laws, regulations, and internal policies.
  • Prepare new account openings by reviewing trust instruments and all necessary documents.
  • 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 the delivery of assets from prior custodians.
  • Prepare and review funding agreements on splitting trusts and trusts resulting from settlement.
  • Initiate, prepare, review, and supervise account closing documentation and processing with Operations.
  • Prepare Receipts, Releases and Indemnification Agreements (RRIs) and Proposed Distribution Schedules, as needed.
  • Coordinate and follow-up with Operations to ensure proper delivery of assets.
  • Coordinate and act as liaison with investment advisors as necessary to complete annual administrative review, including but not limited to, investment policy statements, beneficiary information, and unique asset valuations.
  • Initial and periodic administrative account reviews on all trusts to review risk level, profitability, ensure compliance with governing documents, state law, tax requirements, and proper system coding.
  • All fiduciary actions, including discretionary distributions, document interpretation, tax compliance, and account maintenance on trust accounting system.
  • All coordinated tax preparation, engagement letters, communication with CPAs, track, review and file tax returns, process tax payments, and process tax preparation fees.
  • Prepare Crummey Notices and other required correspondence, requests, reports, etc.
  • 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.
• Help develop, manage and execute department goals, including maintaining budget and meeting revenue targets.
• Stay current on any developments regarding National and South Dakota trust law, and communicate new information and how it may affect trust accounts to the Trust Team at NATC.
• Educate and build relationships with our client RIAs, as well as 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 but not limited to, prompt completion of…