Trust Clerk creates and maintains trust account records, notices and reports. Prepares expense checks and may administer charge fees according to the requests of account administrator. Being a Trust Clerk may require an associate degree. Typically reports to a supervisor. The Trust Clerk may require 0-1 year of general work experience. Possesses a moderate understanding of general aspects of the job. Works under the close direction of senior personnel in the functional area. (Copyright 2024 Salary.com)
Description
Internship — Trust and Investment Management Group
The intern will meet with Senior Vice President and IMG Manager and Investment Officer for an introduction to and overview of the I MG and its typical clientele. He/she will then report to Investment Officer to begin the process.
Overview :
Job Descriptions Trust and Investment Officers Operations Staffers
Client Profiles High net worth individuals / foundations and endowments / retirement plans
Account types Investment Management Accounts / Revocable and
Irrevocable Trusts / IRAs / Estates
Introduction to investments and the FB IMG investment management process :
Assets classes: equities, fixed income, cash equivalents, REITs Excluded asset classes: hedge strategies, commodities contracts, high yield bonds
Portfolio diversification and correlation analysis
Recommended lists of securities and the ongoing due diligence process
Economic and financial market analysis sources or research and the incorporation into FB IMG's advisement process
Asset allocation determination
Account administration and portfolio rebalancing
Income, gift and estate tax planning — interaction with CPAs
Estate planning — trusts, wills, Powers of Attorney — interaction with estate planning attorneys
Once this is complete the intern would perform portfolio allocation computations and account rebalancing. He/she would complete the online research necessary to update quarterly mutual fund and stock analysis reporting.
During the time with the IMG, they will attend Account Review, Investment Committee and Trust Committee meetings.
They will have meetings with administrative officers in both Escanaba and Marquette about their roles and day—to—day responsibilities . possible, the intern will accompany account officers to client meetings, inclusive of portfolio and performance reviews .
Finally, interns will spend time with operations staffers to understand trade and asset transfer processing, cash reconcilement, client bill paying and file documentation processes.
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