What are the responsibilities and job description for the Personal Trust Officer position at Farmers National Bank of Canfield?
Personal Trust Officer directs and coordinates activities relative to setting up and administering personal trusts, agencies, foundations, guardianships and estates. The position works in conjunction with the Portfolio Manager to assist in the development and execution of the client's investment goals. This individual is responsible for new business development, cross sale of other Bank products and services, and Trust Administration. New business will be generated from a calling program that includes business development calls on current client, potential customers, businesses, professionals, and internal and external centers of influence.
ESSENTIAL DUTIES and RESPONSIBILITIES
- Responsible for developing new business opportunities through client contact and prospecting while maintaining relationships with current clients.
- Demonstrate in depth knowledge, understanding and development of Trust accounts, products, and solutions
- Attract new clients and retain existing clients by developing marketing materials, plan presentation and strategies
- Determine client and business owners' needs by meeting with them to gather information, review trust and estate planning needs, retirement planning, investment asset allocation and investment strategies to optimize client goals and determine an appropriate strategy for closing sale
- Effectively administer complex fiduciary trust accounts, agencies and foundations according to terms of the document. Monitor accounts on a daily basis, monitor daily cash balances, and prepare account reviews on a monthly basis.
- Assist in the administration of Estates and Guardianships (prepare inventories, distributions, court accountings), determine date of death values, tax basis issues.
- Monitor compliance matters and maintain compliance with all internal policies and procedures as well as with regulatory and legal requirements.
- In conjunction with the Portfolio Manager, assist in the coordination of investment needs for clients, including cash management and asset allocation choices.
- Proactively provide professional service to satisfy client needs. Identify and resolve client issues arising in the course of administration of an account.
- Maintain communication with attorneys, CPAs, etc. for potential trust business.
- Have a general knowledge of bank products and the ability to introduce trust clients to bank services to support new business for the Trust Company and the Bank
- Perform tasks/projects/duties as assigned
- Complete all mandatory and elective training, including BSA (Bank Secrecy Act) and Anti-Money Laundering procedures. Maintain compliance with all appropriate rules and regulations.
- Regular, predictable attendance is an essential requirement of this position
EDUCATION and/or EXPERIENCE:
- Bachelor's Degree in Business Administration, Finance, or related field. JD or CPA preferred.
- Minimum 3-5 years background in Trust or related business
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Farmers National Banc Corp. is an Equal Opportunity Employer: disability/veteran
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