Trust Officer - Settlement

About the role

Responsible for the day-to-day management and administration for a wide variety of trust accounts, which may include Settlement, Special Needs, SAM Trusts, Directed Trusts and court supervised trusts, ensuring compliance with applicable laws, regulations, policies and procedures.

Responsibilities

• Thorough understanding of trust documents; trust accounting concepts; and tax reporting activities.
• Act as lead communicator with clients regarding strategic financial planning.
• Respond promptly to client distribution requests and make distributions of cash and assets as required, while strictly following department procedures regarding verbal confirmation for electronic distribution requests.
• Understand the needs of and duties to the principals, income beneficiaries and remaindermen.
• Professional advisor to trust beneficiaries, third party administrators and other service professionals.
• Comply with Trust Administration checklists related to opening and closing of accounts; and account reviews.
• Monitor the completion of trust tax returns.
• Complete annual account reviews as required by the South Dakota Division of Banking.
• Prepare appropriate presentations for Trust Committee review.
• Responsible for the administration of a complex book of personal trust accounts which may include supporting the administration of pooled trusts.

Skills

Communication Skills

• Excellent verbal, written and interpersonal communication skills.
• Ability to communicate effectively with clients; interact with beneficiaries, courts and other third-party professionals.
• Be aware of and follow company policies for electronic communications and internet use.

Computer/Technical Skills

• Strong analytical skills with high attention to detail and accuracy.
• Proficiency using Microsoft Office Suite of applications.
• Skilled with trust accounting software.
• Able to understand and follow company policies regarding information security including password, multi-factor authentication, and remote access use.

Organization

• Demonstrate professionalism and leadership skills through consistent positive attitude and superior quality of work.
• Coordinate all aspects of fiduciary taxation with third parties.
• Regularly update client interactions in CRM database.

Judgment

• Strong sense of confidentiality.
• Exhibit sound judgment and the ability to make reasonable decisions in the absence of direction.
• Swiftly refer problems/issues to the appropriate person(s) when necessary.
• Demonstrate visible commitment to the Company's core values and guiding principles and achieving results.
• Able to identify common attempts at information security scams, like email phishing.

Qualifications

• Minimum one (1) year of technical expertise in the area of settlement or directed trust administration.
• Some travel required for business development opportunities.
• Spanish speaking is a plus.
• Undergraduate degree or equivalent experience.
• Trust and estate or financial background.