Delaware Trust Officer II (DE TO II)

About the role

The Delaware Trust Officer II (Delaware TOII) is an expert in the administration of Investment Management and Trust accounts and responsible for faithfully executing our fiduciary duties as well as complying with all laws, regulations, policies, and procedures.

Responsibilities

• Work with clients, their attorneys and other professional advisors including 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 beneficiaries including request for discretionary distributions. Obtain supporting documents such as tax returns and budgets. Prepare discretionary distribution request outlining the dispositive provisions and other relevant language in the trust agreement and make recommendations regarding how the Trust Company should exercise discretionary powers pursuant 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 policy and procedure adherence. Utilize risk management tools, such as the overdraft report, daily transaction report, etc.
• Communicate with investment advisors, portfolio managers, and financial advisors regarding 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 of how trusts function and are administered. Prior experience administering Delaware Directed Irrevocable Trusts is preferred.
• Must 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’ personal tax preparers to ensure information is shared with the appropriate parties for timely completion of the applicable tax returns.
• Eager to contribute ideas to continuously improve systems and processes to ensure we can deliver the best possible service for our clients.
• Willing to mentor junior associates to help with their growth and development.
• Adhere to the Bank’s core values of delivering together, acting responsibly, realizing the power of our people, and trusting the team.

Requirements

• 5 or more years of successful experience in trust administration, servicing and managing fiduciary relationships with high-net-worth clients (or equivalent)
• Technically proficient in fiduciary law, tax investments and administration
• Bachelor’s degree or equivalent experience strongly preferred
• CTFA or JD preferred

Skills

• Excellent ability to work in team environment
• Strong communication and influence / partnership skills
• Significant knowledge of the legal, tax, investment, and compliance aspects of fiduciary administration. Able to fully understand and follow the teams of governing documents
• Demonstrated accuracy and completeness in all tasks and follows up as appropriate
• Comfortable serving in an advisory capacity to clients and families
• Values the establishment and nurturing of long-term client relationships
• Dedicated to delivering excellent customer service

Qualifications

• High School Diploma / GED / Secondary School or equivalent