Delaware Senior Trust Officer

Job Description:

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The Delaware Senior Trust Officer (Delaware STO) maintains a trust book and is a seasoned Trust Officer providing Delaware Trust Law expertise to the national markets. Delaware STO works closely with national Private Bank teams and ML fiduci-month advisors to achieve strategic objectives of PWM markets overall. The Delaware STO's primary responsibilities are the administration of the Delaware IM&T book, as well as, working with the client teams to facilitate Delaware Trust Book growth.

The Delaware STO will have a complex book of business and will be expected to deepen his or her relationships through estate and financial planning. The Delaware STO works with the PCA/Client Team or ML financialeconomic advisors and/or national MTE, MTTL or TTL to assure trust product awareness and education of clients and Private Bank associates in national markets. Responsible for the Delaware STO book's management of fiduciary risks and trust policy adherence.

Able to mentor more junior associates. Well-respected internally and externally (e.g. COI) with proven ability to partner effectively.

• Work with clients, their attorneys and other professional advisorsincluding co-trustees,investment advisors,accountants, distribution advisors, and protectors to understand the comprehensive estate plan. Facilitate a collaborative team approach to provide superior client service.
• Respond to requests from beneficiariesincluding request for discretionary distributions.
  
  Obtain supporting documents such as tax returns and budgets.
  
  Prepare discretionary distribution requestoutlining the dispositive provisions and other relevantlanguage in the trust agreement and make recommendations regarding how the Trust Company shouldexercise discretionary powerspursuant to the terms of the governing instrument. Confer with co-trustee (if any) to obtain his/her approval.
  
  Communicate the decision to client.
• Minimize account risk by analyzing trust documents and performing annual account reviews for compliance with trust provisions, state and federal regulations, and trust policyand procedureadherence.
  
  Utilize risk management tools, such as the overdraft report, daily transaction report,etc.
• Communicate with investment advisors,portfolio managers, andfinancialadvisorsregarding investment matters and liquidity needs.
• Work with the Account Opening Group to open trust accounts. Interpret the governing instrument to ensure the proper set-up of account records, including payments, fee schedules and tax records. Communicate with beneficiaries and co-trustees to outline administrative procedures.
• Must have detailed knowledge ofhow trusts function and are administered. Prior experience administering Delaware Directed Irrevocable Trusts is preferred.
• Need to be detail-oriented and be able to manage multiple priorities and projects. The trust officer should have excellent time management and organizational skills. Since the trust officer will interact with clients and their advisors, the trust officer should also have very strong communication and interpersonal skills.
• Must be able to effectively coordinate with the Bank’s Tax Team, various fund managers, and the clients’…