SVP, Trust Administration

US-MO-Clayton

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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