Trust Officer 606

General Summary

To act in a fiduciary capacity to perform activities relative to the creation and administration of trusts under the terms of the governing trust documents.

 

Principal Responsibilities and Duties

1. Works with the client's attorney to create legal document specifying provisions, duration, and details of the trust.

2. Oversees process of transferring funds, securities, and other assets to corpus of trust.

3. Directs collection of income or proceeds from sales of assets and deposits them  in trust accounts.  Hires appraisers, as needed, to determine value of assets and appropriate method for sale of properties if this is determined to be in the best interest of the beneficiaries.

4. Directs liquidation of liabilities, payment of debts, and disbursement of funds according to the needs of beneficiaries and conditions of the trust document.

5. Ensures that fiduciary judgment is followed in investing trust assets in income-producing securities following investment guidelines of trust. Works with investment personnel to select the most appropriate investments according to long-term financial goals desired for the best interests of beneficiaries.

6. Prepares or supervises preparation, filing, and payment of state and federal income tax returns for the trust.  Prepares financial accountings for grantor, beneficiaries, executors, and/or court as required according to particular circumstances of trust agreement.

7. Oversee the operations of the trust department and utilize the Trust 3000 system.

8.   Prepare and discuss information needed for audits with various bank examiners.

. Promotes bank trust services, and assists new clients with establishment of new trust accounts.  Gives advice regarding types of trusts and arrangements that are appropriate for certain situations.

9. Prepare all trust committee reports on a quarterly basis. Keep procedures and policies current.

 

Skills and Abilities Required

1. Bachelor's degree in banking, finance, accounting, or related field.  Master's degree or J.D. strongly preferred.

2. A minimum of three to five years of experience with fiduciary trust administration, investments, trust procedures, trust laws and regulations.

3. Excellent verbal and written skills required for client meetings, management responsibilities and presentations to community organizations.Proficiency at using financial computer systems, personal computers and financial software programs.