Trust Officer recruitment
Responsibilities:
• Work with assigned Client Account Management (CAM) teams to support proper administration of a book of assigned trusts
• Prepare documents relating to the transfer of trusts (e.g. Acceptances of Appointment, Direction Letters)
• Coach members of the CAM team in the proper account structure, funding, fees, and coding related to new accounts at the point of account opening
• Review governing instruments (e.g. trust agreements and wills) and prepare trust analyses as part of the Initial Trust Review process; follow up on critical identified action items that remain outstanding to ensure proper trust administration
• Review transaction documents and participate with Legacy Planners, CAM teams and clients’ outside counsel to adjust content / structure as needed to properly implement various funding, lending and other complex transactions; draft related Direction Letters
• Work with assigned Client Account Management teams to support all steps in the termination process including the preparation of informal settlement documents (Receipts and Releases)
• Serve as in-house resource for trust administration questions (solving overdrafts, guidance on actions that may / may not be permissible under the trust’s terms, identification of solutions and work-arounds for various problems as they arise, identifying and applying applicable law to given situations – generally coaching and supporting CAM teams to ensure correct trust administration.
• Develop and present training modules and materials as assigned
• Oversee the preparation of Discretionary Distribution and Special Investment Requests for Officers’ Committee consideration as part of the ongoing trust administration; Review workflows for cash distributions for consideration of any threatened GST taxation and develop appropriate solutions where needed or determine what exception might apply
• Perform additional special projects, as needed
Qualifications:
• J.D. required (and at least one license to practice law preferred)
• Minimum of 5-10 years experience in personal trust administration
• Strong knowledge of income tax, estate tax, gift tax and GST tax required
• Strong knowledge of trust law (knowledge of DE trust law preferred)
• Excellent analytical skills and attention to detail
• Good interpersonal skills and the ability to deal effectively with a wide variety of people
• Must be a team player
• Strong computer skills; proficiency with Microsoft Word and Excel; familiarity with PowerPoint; comfortable learning new software packages (banking-related)
• Highly motivated and a self-starter
• Strong organizational skills (able to handle multiple priorities)
• Excellent communication skills (oral and written)