Trust Operations Assistant

Trust Operations Assistant

Merchants Bank, Winona, has an opening for a Trust Operations Assistant. Hours are generally 8:00am – 4:30pm Monday – Thursday and 8:00am – 5:00pm on Friday.

This position provides a variety of operational duties associated with trusts and investment accounts and giving exceptional customer service to clients. Duties also include preparing new account documents, managing client cash flows, balancing accounts, processing distributions, working with tax information and preparation and preparing reports.

Must have experience working with Microsoft Suite programs, able to communicate effectively, be detail oriented and organized, and have customer service experience. Familiarity with bookkeeping, accounting and investment concepts preferred. Post secondary degree preferred.

Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options.

The primary role of the Trust Operations Assistant will be to assist with day-to-day operations associated with handling client accounts and delivering exceptional customer experience to clients.

Essential Responsibilities:

• Answer phones and serve as the first impression for communication with clients
• Handle departmental mail inflows and outflows
• Completion of internal documents, client correspondence, reports, and meeting minutes
• Assist in completion of internal reviews and reports
• Process and archive client documents and closed accounts
• Document account files following client interactions and meetings with Trust Officers
• Prepare new account documents for signature
• Set up new accounts and assist with collection of assets
• Assist with preparation of reports and client meeting materials
• Obtain tax identification numbers
• Verify vendor account statements and invoices
• Assist with regular balancing of accounts and reconciliations
• Work with spreadsheets, software systems, tickler systems, and electronic file transfer systems
• Handle state tax with holdings, tax ledgers, dividend reporting, contributions and distributions within investment accounts and transfers between accounts
• Assist with posting transactions and managing ACH payments
• Assist with monitoring and managing client account cash flows
• Process monetary distributions associated with client accounts and corresponding documentation
• Assist with collection of information for tax return preparation and coordinate tax filings
• Assist with management of securities movement between bank and securities custodian
• Assist with rebalancing investment accounts and trading as directed by Trust Officers
• Serve as back-up to other department team members
• Communicate with clients and refer or escalate to Trust Officers as appropriate
• Perform other duties as directed by Trust Department Manager, Trust Officers and other experienced personnel of the Trust Department.

Additional Expectations:

• Regular and dependable attendance
• Contribute to a positive work environment
• Greet internal and external customers in a friendly and outgoing manner
• Ensure internal and external customers receive outstanding service experiences
• Timely completion of appropriate online compliance module requirements

Skills and Abilities

Required:

High school diploma or equivalent. Post secondary degree preferred. Minimum of one year experience in customer service or related field required. Experience in financial, banking, accounting, legal or related industry preferred. Familiarity with investment, accounting, or bookkeeping concepts preferred.

The ideal candidate will be detail oriented, organized, task driven, and good with numbers, calculations, cash flows, and balancing accounts. The ideal candidate will be able to manage time and work efficiently in a fast-paced environment. The ideal candidate will have an ability to solve problems and be able to work independently within a team environment. The ideal candidate will have excellent written and oral communication skills and be able to communicate clearly while interacting…