Trust Administrative Associate

SUMMARY:

Prepares new account opening paperwork for compliance and acceptance, coordinates collection, distribution, and other transfers of assets, including payments to and on behalf of clients, and generally performs all administrative duties associated with asset management, trust, and custody and estate accounts. Provide documentation and account information required by personnel in operations, administration, and tax areas to perform their necessary functions. Communicates with prior trustees/custodians/agents to ensure transferring assets are received in a timely fashion. Has direct client contact in a support role. Responsible for providing exceptional client service and will work closely with other members of the Trust and Asset Management Department to build profitable long-term relationships and a high level of customer satisfaction.

ESSENTIAL JOB FUNCTIONS & RESPONSIBILITIES:

1. Assists Wealth Management Officers with client servicing function.
2. Monitors the resolution of client service issues.
3. Prepare client communications as needed.
4. Responds to routine requests from clients regarding their accounts.
5. In absence of Wealth Management Officer, provides primary contact with clients.
6. Coordinates client bill payment, if requested by client.
7. Coordinates on demand distribution requests, future dated or recurring distribution requests with Operations.
8. Coordinates with operations team to schedule retirement distributions.
9. Tax - Coordination both internally and externally to ensure tax preparation is completed for agency, fiduciary and paid preparers. Follow up coordination to ensure amounts due and quarterly tax estimates are submitted appropriately and in a timely fashion.
10. Assists clients with online account access issues.
11. Works with CC5 retail and operations to provide full customer service to client.
12. Collaborates with colleagues in WMS and outside vendors regarding the client experience.
13. Works cooperatively with other members of WMS and is willing to extend themselves beyond the general demands of the position. Exhibits an ongoing concern for the business success of the organization as a whole.
14. Provides any support necessary to promote and facilitate the acquisition of new customers for the Bank.

Operational Functions:

1. Interacts with colleagues in Trust and Asset Management Department as well as external contacts, such as accountants, attorneys, clients and beneficiaries.
2. Assists by gathering and providing account opening documentation for new accounts to be opened on various systems, initiates and coordinates all administrative duties associated with new and existing trust, estate, asset management and custody accounts.
3. Verifies account set-up and service for accuracy and completeness; researches problems and prepares corrections related to set-up.
4. Communicates with appropriate internal and external personnel to ensure account information is processed within scheduled timeframes; researches and resolves any discrepancies.
5. Reviews accounts for system compatibility and ensures all information is present and usable from a systems perspective; Helps develop creative solutions to system constraints.
6. Supports the Departments online portal. Resets client passwords when they are locked or expired. Troubleshoots client hardware and software issues.
7. Ensures that all necessary client documentation is completed according to policy guidelines.
8. Gathers and delivers data required for the preparation of tax returns.
9. Coordinates the distribution, delivery and transfer of assets.
10. Coordinates the delivery of client statements and other periodic reports.
11. Reviews daily, intra-day and monthly reports to monitor account cash.
12. Performs task associated with retail or TAM operations projects.
13. Other duties as assigned by supervisor.

QUALIFICATIONS:

EDUCATION & CERTIFICATIONS: (Minimum education required to perform the duties of this position)

• Bachelor's Degree (or equivalent). Additional coursework in trusts a plus and may be required as professional development.
• Notary Public

KNOWLEDGE, SKILLS & ABILITIES:

• At least two years' experience in trust or fiduciary administration is desirable.
• An understanding of probate, estates, trusts, and tax law, as well as basic accounting principles is highly desirable.
• Knowledge of trust operations system capabilities is desired.
• Commitment to continuing education.
• Interpersonal skills, with the ability to work on and prioritize multiple tasks and projects at one time and work independently with superior attention to detail.
• Along with analytical, decision making and communication skills, the position requires personal work habits and attitudes that enhance the overall professional dimension of our organization and contribute directly to successful job performance.
• Knowledge of Bank products and services.

COMPETENCIES:

• Must have cyber security awareness to protect the digital environment, the Bank, and customers.
• Problem Solving
• Relationship Building Skills
• Excellent Verbal and Written Communication Skills
• Critical Thinking Skills
• Courage
• Technology Savviness/Digital Enthusiast
• Financial Comprehension
• Adaptability and Flexibility
• Eager Learner
• Learning Agility
• Superior Customer Service