Job Title: Trust Officer
FSLA Status:Full-time, Exempt
Summary
The Trust Officer is a primary team lead with respect to the management and administration of trust and estate accounts at First Bankers Trust. The Trust Officer is responsible for reviewing and interpreting trust and estate planning documentation to ensure that all trust accounts are properly administered in accordance with governing provisions, company policies, and / or applicable laws and regulations. The Trust Officer also maintains responsibility for fiduciary administration actions as Trustee and Executor.
The Trust Officer is a fiduciary role and requires a client-centric demeanor with a strong sense of proactivity. This individual works alongside the Client Service, Investment, and Trust Operations / Administration teams, as well as outside advisors, to provide exceptional service to clients and beneficiaries. He / she also possesses detailed technical knowledge of trusts and estates, and proactively remains up to date on best practices for trust administration. In addition, this individual is expected to continuously seek ways to improve operational processes and the client experience.
Essential Duties & Responsibilities
1. Trust & Estate Administration
· Responsible for all aspects of trust administration for the trust company and participates in the Trust Administrative Review Committee (TARC)
· Maintain detailed knowledge regarding a broad range of legal and financial issues with proficiency in estates, trusts, wills, and taxation; demonstrate ability to communicate with clients, beneficiaries, and internal colleagues regarding these matters
· Review and interpret estate and trust documents to ensure proper set up and appropriate asset allocation for trust accounts
· Review, approve, and direct disbursements of funds in accordance with governing documents and needs of beneficiaries
· Oversee preparation and filing of fiduciary federal and state tax returns; in certain circumstances, the Trust Officer will aggregate all client tax documents for third-party tax preparation for a select group of top-tier clients
· Monitor and control risks related to account administration, including completion of annual administrative review of trust accounts
· Actively pursue and implement effective and efficient operations of respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational and regulatory compliance risk
· Delegate tasks, as appropriate, to others within Trust Operations / Administration team
1. Relationship Management & Client Service
· Aid Client Service and Investment teams in providing an exceptional and personalized client experience to high net worth clients and beneficiaries, exemplified by timely and accurate account administration coupled with demonstrated technical expertise
· Respond to and anticipate client / beneficiary needs, and participate in client meetings with Client Service and / or Investment team personnel as needed
· Build and maintain effective internal and external partnerships with clients, beneficiaries, trustees, executors, accountants, and attorneys to expand the firm’s client base.
Functional Competencies
· Proven ability to consistently deliver a proactive, best-in-class client experience
· Demonstrated ability to manage competing priorities while maintaining focus on key responsibilities
· Proven capability to demonstrate initiative and creativity in all aspects of duties and responsibilities
· Strong sense of professionalism, as well as interpersonal, communication and negotiation skills
· Strong change management skills and ability to adopt technology and reporting platform changes to support operational improvements
· Effective at building and maintaining deep relationships and partnerships, both internal and external
Required Education and Experience
These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and / or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.
· Bachelor’s Degree and minimum of 5 years of experience directly related to trust and estate administration, estate planning, trust taxation, and / or private client wealth management
· CTFA designation and / or Juris Doctorate (J.D.) preferred (or progress toward either)
· Proficiency in Microsoft Office software (e.g. Outlook, Word, Excel, PowerPoint)
· Experience with Tamarac and / or trust accounting systems a plus
· Job is in office (not WFH)
Physical Demands
While performing the duties of this job, the employee is regularly required to: sit, use hands to input data into the computer, and talk and hear. The employee is occasionally required to stand, walk, stoop and lift files and boxes of up to 10 pounds. Specific vision abilities required by this job include close vision.
Work Environment
The work will be performed primarily in an office setting. The lighting and noise level in the environment is usually moderate. There is frequent contact with other individuals. The work may sometimes be fast-paced and hectic.
Other Requirements
· Travel between the investment office to meetings or functions outside of the office will be required
· Evening or weekend work assignments will be required as needed to accommodate the schedules of current and prospective business clients (very minimal occurrence)
· Attendance at activities outside the company to stay up to date regarding new developments, best practices, and statutory / regulatory changes
· Pursuant to the Drug Free Workplace Act of 1988, all employees must remain drug and alcohol free when reporting to work, while at work and while engaged in any work-related activities
Work Location: In person
