The Trust Administrator is responsible for servicing and maintaining existing relationships with custodial, investment management, and trust clients, beneficiaries, and other interested parties in partnership with the client relationship team to deliver high-level advice and service to individuals, families, and institutions. They are responsible for fiduciary administration, relationship management, and service to and growth of a book of mass affluent and high net worth client relationships. They serve as a back-up to the Trust Administration Specialist, who is responsible for all facets of onboarding and closing fiduciary accounts, including account paperwork production, acceptance, and approval; coding on relevant systems; and statement and fee maintenance.
Essential Responsibilities:
- Administers a book of fiduciary and investment accounts per the terms of governing instruments, including trusts, estates, court appointments, IRAs, investment management and custody accounts, and conducts comprehensive reviews of account activity and administration.
- Partners with client relationship teammates to provide fiduciary advice and solutions tailored to meet client goals and objectives. Provides fiduciary and financial planning guidance in the areas of estate planning, wealth transfer, estate administration, and charitable, philanthropic, and risk solutions.
- Meet with clients to manage relationships and provide advice and planning; respond to client requests for information, advice and service; conduct proactive client outreach; create and deliver fiduciary content for client presentations and thought leadership articles.
- Partners with client teams as the fiduciary expert to grow the business by deepening existing relationships.
- Responsible for adhering to client-focused compliance policies and procedures, including all annual administrative reviews, advising on and updating client objectives and maintaining updated wealth planning and client information for fiduciary relationships. Identify at risk clients, proactively resolve issues, and meet with at-risk clients as needed to enhance relationship retention.
- Responsible for onboarding accounts, including account paperwork production and acceptance, thorough document review, coding on relevant systems, and set-up of statements and fees.
- Responsible for account closure, including fee maintenance, sending required notices, drafting distribution plans, and distributing assets.
- Serves as a centralized point of contact for opening and closing fiduciary accounts, monitoring the process from start to completion, and communicating status among the new business, fiduciary, investments, and operations teams.
- Accountable for the understanding of and adherence to operational controls, policies, procedures and processes to ensure compliance with bank policies and related laws and regulations.
- Adheres to applicable federal laws, rules, and regulations including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA).
- Other duties as assigned.
Minimum Required Skills & Competencies:
- Broad-based technical knowledge and understanding of estate, trust, and fiduciary administration, wealth and estate planning strategies and affluent and high net worth client relationship management.
- Intermediate level knowledge of MS Office with the ability to learn other job specific software.
- Strong analytical skills with high attention to detail and accuracy, and an ability to work effectively in a team-based work environment.
- Strong written and oral communication skills and ability to distill and convey information in a compelling manner.
- Skill in adopting technological advancements and facilitating into current and future responsibilities.
- Ability to review estate, trust and other legal documents to execute client goals, administer fiduciary accounts, and ensure bank compliance with document terms and relevant laws and regulations.
- Ability to readily modify, respond to, and integrate change with minimal personal resistance.
- Ability to keep abreast of legal and regulatory changes.
- Ability to have a positive impact on others, to persuade or convince them to gain their support.
- Ability to anticipate, monitor, and meet the needs of clients (internal and external), following through on questions, requests, complaints and respond in an appropriate manner.
- Ability to carefully review information, identify errors, and maintain accuracy in work, showcasing a commitment to producing high-quality results.
- Ability to prioritize a variety of job responsibilities, meet deadlines, and adapt to rapid changes in priorities.
- Accountable for the understanding of and adherence to operational controls, policies, procedures and processes to ensure compliance with bank policies and related laws and regulations.
- Performs other duties as required or assigned which are reasonably within the scope of the duties in this job classification.
- Possesses the drive to work towards a standard of excellence.
- Bachelor’s degree from an accredited four-year college or university in Accounting, Finance, Business Management, Trust Administration, or Law, or equivalent combination of education/working experience/training.
- Minimum of three (3) years of trust administration experience.
- Demonstrated relationship management experience preferred.
Physical Requirements:
- Express or exchange ideas by means of the spoken word via email and verbally.
- Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
- Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
- Not substantially exposed to adverse environmental conditions.
- The physical demands described here are representative of those that must be met by an employee to successfully perform the essential responsibilities of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential responsibilities.
