Trust Officer

Benefits

• Health insurance
• Paid time off
• Vision insurance
• 401(k)
• 401(k) matching
• Dental insurance

About the role

Herring Bank is seeking a Trust Officer I or II to join our Wealth Management team with a focus on Personal Trust administration. The position level will be determined based on the selected candidate’s experience, qualifications, and demonstrated level of trust administration expertise. This position is responsible for supporting or independently administering an assigned portfolio of personal trust and fiduciary accounts, including revocable and irrevocable trusts, estates, IRAs, guardianships, and other investment accounts. The Trust Officer will work closely with clients, beneficiaries, attorneys, advisors, and internal partners to provide exceptional service while ensuring accounts are administered accurately and in accordance with governing documents, applicable regulations, OCC guidelines, and Bank policies. The position will also support business development and relationship-building efforts and may administer accounts containing non-traditional and hard-to-value assets.

Responsibilities

• Administer or assist with the administration of an assigned portfolio of personal trust accounts, including revocable and irrevocable trusts, estates, IRAs, guardianships, and other fiduciary accounts.
• Serve as a primary or secondary point of contact for clients, beneficiaries, co-trustees, attorneys, and outside advisors regarding account-related matters.
• Prepare and review account opening documents, agreements, transfer documents, beneficiary designations, investment objectives, notices, authorizations, and related documentation.
• Review and maintain trust instruments, amendments, court orders, tax forms, wills, leases, agreements, and other account-related documentation.
• Process distributions, payments, receipts, and other account transactions in accordance with governing documents and applicable requirements.
• Monitor account liquidity to support distributions, income needs, tax obligations, and other account requirements.
• Track important account dates, including distribution schedules, required minimum distributions (RMDs), and tax filing deadlines.
• Complete and document periodic account reviews and present findings and recommendations as appropriate based on experience and position level.
• Coordinate and organize information needed for fiduciary income tax return preparation and maintain appropriate supporting documentation.
• Administer or assist with accounts containing non-traditional and hard-to-value assets, including oil and gas interests, real property, private businesses, farm and ranch interests, and other unique assets.
• Research and document unique or illiquid assets to support proper valuation and administration in accordance with applicable OCC guidelines.
• Review account-related legal documents, including wills, trust instruments, leases, and agreements, and coordinate with appropriate resources when additional review is needed.
• Collaborate with Wealth Management team members on investment suitability, portfolio management, account administration, and client service.
• Review and process trades as needed, ensuring accuracy, proper account allocation, and compliance with investment objectives and internal policies.
• Perform on-site real estate inspections as needed.
• Assist