Trust Operations Officer directs the work of Trust Operations team in large and complex trust operations. Ensures that transactions are balanced and documented according to policies and procedures. Being a Trust Operations Officer oversees the input and maintenance of data in accounting systems and report generation. Coordinates the processing of dividends and disbursements. Additionally, Trust Operations Officer may require a bachelor's degree. Typically reports to a manager. The Trust Operations Officer manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. To be a Trust Operations Officer typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes. (Copyright 2024 Salary.com)
Description
The Trust Officer develops new business and manages accounts for which the financial institution acts as trustee, court-appointed financial guardian, estate personal representative, investment agent or custodian.
Requirements
Job Requirements:
Specific Job Functions:
1. Strategic Objectives
a. Works with clients and their legal representatives and advisors in establishment and administration of trust department accounts.
b. Establishes relationships in centers of influence particularly with attorneys.
c. Develops new business relationships and develops additional business with existing trust clients.
d. Respond to client issues, anticipate client needs, prepare for and participate in client meetings.
e. Reviews account holdings to ensure compliance with stated objectives.
2. Compliance
a. Responsible for knowing and complying with all federal regulations and bank policies/procedures that apply to the trust department including the Bank Secrecy Act and CIP.
b. Ensures that each trust is administered in accordance with its legal document.
3. Additional Responsibilities
a. Keeps abreast of trends and regulations in the trust business with regular continuing education.
b. Prepare initial and annual account reviews.
c. Responsible for researching and filing of class action lawsuit claims.
d. Must be able to drive him/herself to job related sites.
e. Performs other duties as directed by supervisor.
f. Some travel required.
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