Primary Job Purpose: Primarily responsible for the administration of trust accounts. Communicate with clients and provide support and input into investment purchases. Assist with the trust department’s business development and marketing efforts to improve trust department profitability and grow the department.
Essential Responsibilities and Duties:
Establish and achieve individual and departmental goals as they relate to the success of the Trust Department, the bank’s Strategic Plan and specific job functions.
- Report in Trust Investment Committee (TIC) and TIC Asset Review meetings.
- Review trust policies, procedures, contracts and services.
- Perform annual account reviews to include monitoring market movements, legal changes, etc.
- Review trust accounting reports monthly, quarterly and annually.
- Meet with prospective new Trust Department clients on products and services offered.
- Meet with existing Trust Department clients regarding investment objectives and selection, legal document interpretation and future planning issues.
- Meet with legal counsel for new/existing clients on legal document preparation and requested administration issues.
- Meet with tax preparation personnel for new/existing clients on income and tax related issues relevant to accounts.
- Meet with investment clients to discuss objectives, risks, needs and investment alternatives prior to researching choices available and making final selection purchases.
- Review year-end accounting summaries for existing accounts prior to dissemination to tax preparers and other necessary parties.
- Review, verify and sign appropriate tax returns for existing clients as prepared by the client’s tax preparation personnel.
- Prepare selected Trust client’s simple income tax returns.
- Assist clients with Self Directed IRAs.
- Assist clients and staff with IRAs and HSAs and open accounts.
- Participate in regulatory exams and audits.
- Update and research regulatory updates as it pertains to the Trust Department.
- Oversee Escrow functions – opening accounts, ongoing transactions, and closing accounts.
- Inspect real estate, prepare reports, handle FSA documents and government payments and contact appraisers.
- Communicate with tenants relating to the sale of grain, creating leases, insurance, etc.
- Communicate with trust grantors or beneficiaries, document and act according to plan.
- Prepare and file special reports (Conservatorship Annual Reporting, Annual Representative Payee Reports, Medicaid Reports, etc.).
- Initiate and send ACH transactions.
- Provide medallion signature guarantee.
- Participate in the business development efforts of the bank.
- Perform other duties as assigned.
Education: Bachelor’s degree, preferably in finance or business or equivalent work experience required.
Experience: At least 5 years of broad-based trust and investment (or comparable) experience is preferred. Proficiency with InfoVisa/Maui software is necessary but may be learned on the job. Must have basic computer knowledge, be proficient with Microsoft products and the ability to operate standard office equipment.
