Wealth Management Solutions, Trust & Estates, Trust Administrator - VP

Responsibilities

• Work with the Account Opening Group to open trust accounts
• Interpret the governing instrument and applicable law 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
• Respond to client issues, anticipate client needs, and prepare for and participate in client meetings with the Trust Officer
• Work with the Tax Officers and counsel on income, gift, estate, and generation skipping taxes for the trust/estate and its beneficiaries
• Prepare memoranda supporting recommendation regarding how the Bank shall exercise discretionary powers it has as trustee
• Confer with co-trustee (if any) to obtain his/her approval
• Coordinate with Trust Officer on the communication of the decision to client and follow-up action on the request as necessary
• Handle ongoing day-to-day administration of account, and proactively manage account base in an effort to avoid and minimize service and operational issues
• Oversee the work performed by various operational groups
• Identify risk that might be incurred in connection with a trust, consistent with any applicable policies and procedures governing the risk in question
• Utilize risk management tools, such as the overdraft report, daily transaction report, AdministrativeReview, Holistic Review and the AAR Variance Report to ensure that all exceptions are properly addressed and kept to a minimum
• Communicate with Investors regarding investment matters and liquidity needs
• Handle departmental projects relating to accounts and special assets
• Participate on various committees as needed

Qualifications

• Bachelor's degree required
• A minimum of 3-5 years' experience in the trust and estates industry
• Experience in the administration and support of trusts including general understanding of fiduciary products and concepts, including legal, tax and investments knowledge
• Problem Solving/Risk Management – takes initiative, decisive, accountable, exhibits critical analysis and judgment
• Client Servicing – client knowledge, client relationships, proactive communication
• Teamwork/Personal Effectiveness – clear and concise communication, time management, adaptability to delegate, coaching and training
• Cross Selling and Retention skills
• Strong computer skills including proficiency with trust accounting system
• Prior corporate trustee experience a plus