Trust Officer

TRUST OFFICER WHAT IS THE OPPORTUNITY?

Administer estate and personal trust accounts including testamentary and intervivos trusts, Charitable Trusts, Conservatorships, Guardian ships, Life Insurance Trusts, Private Family Foundations, Special Needs Trusts, and other Agency accounts. Perform initial legal and trust administration review of all potential new trust or investment business. Partner with Business Development colleagues (Banker, Financial Advisor, Portfolio Manager, etc.) to ensure proposed new relationships are within CNB's risk appetite and can be managed without issue.

• Administer and interpret fiduciary accounts in accordance with applicable laws and regulations and the stipulations of governing documents, local law or Court Order under which authority is conferred.
• Interact with and provide guidance to Real Property Managers, CPAs and Trust Counsel, Portfolio Managers, Bankers, Investment Advisors, and other bank colleagues.
• Oversee annual administrative review of Trust accounts. Check files for correct forms, codes, review payments and transactions for accuracy. Review Trust Document to ensure documents are in compliance.
• Analyze anticipated income to ensure sufficient cash is maintained to meet beneficiary distributions, banks fees, trust bills, etc.
• Obtain missing documents from clients.
• Produce and review gain/loss reports for clients and intermediaries. Research tax deficiency notices. Estimate taxes and allocate tax payments between principal and income and maintain tax calendars. Communicate with Tax Vendor and external accountants.
• Gather data for account reconciliation, ensuring distribution requirements are met for charitable trusts, compute distribution amounts for unit-trust accounts and review fee agreements between the Bank, clients, and Co-Fiduciaries.
• Gather/submit pertinent facts to the Trust Administration Committee regarding situations requiring the use of fiduciary discretion as appropriate. Review and submit proposals for consideration, direction and approval.
• Work with appropriate colleagues to develop investment strategies.
• Oversee distribution of client’s assets upon termination of accounts.
• Respond to clients, advisors, and intermediaries regarding the administration and maintenance of accounts.
• Maintain a proactive commitment to established Bank programs, such as Customer First, Community Reinvestment Act (CRA) and Equal Employment Opportunity.
• Comply fully with all Bank Operational and Wealth Management policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).
• Perform a legal and administrative review of all potential new business.
• Work with Bankers, Portfolio Managers, and Financial Consultant colleagues to gather the necessary information and documentation to ensure we understand the risk and other issues associated with new opportunities (e.g., agreements, fee schedules, transfer directions, receipt of assets, reporting correct cost basis and tax acquisition dates, missing form and signatures, etc.).
• Build strong relationships with key COI’s, Bankers, and Financial Advisors.
• Work with external advisors and attorneys to expand trust’s brand and garner larger market share within region.
• Set proper expectations with all internal and external partners around timing and progress of new opportunity.
• Serve as a point of escalation for problem resolution.
• Manage risk to ensure all relationships are within CNB’s risk appetite.
• Provide regular tracking for review of new business activities.
• Meet regularly with existing income beneficiaries and remainder men to profile clients and eventual retention of distributing trusts.
• Follow appropriate Regulation 9 process.
• Maintain all appropriate training and continuing education requirements for both internal programs and external licenses and certifications.

• Bachelor's Degree or equivalent
• 8 years of experience in a financial or legal services organization
• 8 years of experience in trust administration

• Bachelor’s Degree
• 10 years…