SVP, Trust Administration
US-MO-Clayton
Job Description
This position manages the day-to-day activities of the Trust officers and assistants. Responsible for the comprehensive management of an existing book of trust/investment agency/custody accounts and corresponding client relationships. Works closely with the Wealth Advisors and the Portfolio Managers to facilitate seamless client relationship management.
Skills & Requirements
-
Duties include oversight of compliance matters for the trust administration team including but not limited to final sign-offs on Reg 9 administrative reviews; serving as a member of both the Trust Compliance Committee and the Trust Discretionary Committee; assisting the trust officers in clearing administrative exceptions on a timely basis; and such other administrative compliance matters as may be periodically assigned.
-
Provides a high level of support to the Chief Fiduciary Officer in connection with: (1) reviewing legal documents, performing legal research and preparing legal memoranda and related correspondence as required; and (2) ensuring that trust practices are in compliance with both internal policies/procedures and regulatory requirements.
-
Focuses on serving the trust and fiduciary needs of affluent clients by delivering the highest quality administrative services.
-
Responsible for both ongoing account administration and deepening of existing client relationships.
-
Attends client meetings, prospect meetings and client marketing events.
-
Analyzes and interprets legal instruments to determine duties and responsibilities of bank.
-
Applies sound fiduciary judgment to trust matters.
-
Identifies and resolves client issues arising in the course of administration of an account.
-
Reviews and administers trusts in accordance with the document and governing statutes.
-
Educates and builds relationships with clients and estate planning professionals.
-
Prepares new account openings and closings by reviewing the trust instrument and all necessary documents.
-
Processes and coordinates fiduciary actions including discretionary distributions, document interpretation, tax compliance and account maintenance in system.
-
Coordinates tax preparation and communication with CPAs to manage tax returns and process tax payments and fees.
-
Maintains compliance with all internal policies and procedures, as well as, with regulatory and legal requirements.
-
Mitigates risk on individual book of business.
-
Assumes accountability for all delegated work on assigned accounts
-
Assists the Chief Fiduciary Officer with review of legal documents relating to both prospective accounts as well as existing accounts
-
Supports the Chief Fiduciary Officer in monitoring the administration of client accounts on a compliance basis. Tasks assigned by the Chief Fiduciary Officer may include but not be limited to ensuring that the bank has appropriate documentation on file; verifying the coding/client information which is contained on the trust accounting system; following up on areas which were noted in recent FDIC/Missouri Division of Finance examinations and/or internal audits; and preparing reports for the Compliance Committee or other committees as requested
-
Assists the Chief Fiduciary Officer in connection with Wealth Planning Policy matters including legal research and drafting of materials for either internal or external distribution.
-
Handles other projects/tasks which may arise and be assigned by the Chief Fiduciary Officer in connection with the bank’s execution of its fiduciary duties.
-
Works closely with the other Trust Officers in delivering the highest levels of personal service to our clients.
-
Provides compliance leadership and support to the Trust Officers and Trust Assistants.
-
Performs other duties as required.
Qualifications:
-
Ability to quickly understand organization’s systems and procedures; ability to modify or develop new procedures to meet specialized needs
-
Strong commitment to client service
-
Excellent communication, organizational, interpersonal and analytical skills
-
Detail oriented with a high degree of accuracy
-
Strong organization and follow-up skills; ability to effectively multi-task and prioritize workflow in a high-volume environment
-
Ability to work well independently, as well as, work well with others in a team environment to achieve department/group goals
-
Strong influence/partnership skills
-
Comfortable serving in an advisory capacity to clients and their families
-
Values the establishment and nurturing of long term client relationships
Supervisory Responsibilities:
-
Receive and address PTO and similar requests from other trust officers and administrators
-
Complete annual reviews and compensation adjustments for trust officers and administrators with the assistance and input of SVP, Trust Administration & Operations
-
Provide thought leadership, regular coaching and guidance to the Trust Officers and Trust Assistants in the performance of their duties
Education and/or Experience:
-
Bachelors in Finance, Business or Accounting
-
Minimum ten years of successful experience in managing fiduciary relationships with high net worth clients
-
Significant knowledge and technical proficiency in legal, tax, investment and compliance aspects of fiduciary administration
Computer and Software Skills:
-
Skilled in operation of a personal computer, including Microsoft Office
-
SEI Trust Accounting System
-
Bankway
-
Sales Force
-
Google Mail
-
Workday
Certificates, Licenses and Registrations:
-
CTFA or AEP or comparable designation