Trust Officer

Job Title:          Trust Officer

FLSA Status:    Exempt

Hours:                Full-Time

Are you looking to make a significant impact in the financial services industry?

The financial services industry offers the opportunity to serve and positively impact the lives and well-being of others. Within the industry, a career in estate planning and trusts allows you to amplify your impact. We believe trusts are about love, family and the selfless pursuit of acting today to protect tomorrow – and should be central to every estate plan to help create enduring legacies. That is why we have made it our mission to simplify and democratize trusts to allow more advisors and families to ensure complete estate plans and create legacies of love.

Why join us?
We are looking for individuals who believe in the noble purpose of trusts – and want to be part of a movement that redefines trust services to help people protect their loved ones. We are a dynamic, collegial, and evolving culture that invests in top talent and rewards collaboration, curiosity and innovation. By joining National Advisors, you will become part of an in-house team with deep expertise, decades of experience, and a commitment to shaping what’s next for advisors, families, and our industry.

Job Overview

A trust officer is a versatile fiduciary professional with a customer service focus. They are charged with the administration of a large book of trusts. The position requires:  1.)  Excellent written and verbal communication skills; 2.) A client forward service mentality; 3.)  Ability to follow processes and procedures; 4.)  Above average attention to detail for record-keeping, tax, statement compliance, and general administrative expertise; and 5.)  In-depth understanding and utilization of trust administration. 

Responsibilities and Duties

• Review and administer trusts in accordance with the document and governing statutes.
• Analyze and research issues for investment advisors, as required.
• Review account documentation and ensure compliance with all laws, regulations, and internal policies.
• Prepare new account openings by reviewing trust instrument and all necessary documents.
• Correspond with prior trustees to ensure all proper documentation and information is received to ensure administrative continuity.
• Prepare instructions and coordinate with Operations to arrange for delivery of assets from prior custodians.
• Prepare and review funding agreements on splitting trusts and trusts resulting from settlement
• Initiate, prepare, review, and supervise account closing documentation and processing with Operations.
• Prepare Receipts, Releases and Indemnification Agreements (RRIs) and Proposed Distribution Schedules, as needed. Coordinate and follow-up with Operations to ensure proper delivery of assets.
• Coordinate and act as liaison with investment advisors as necessary to complete annual administrative review, including but not limited to investment policy statements, beneficiary information and unique asset valuations.
• Conduct initial and periodic administrative account reviews on all trusts to review risk level, profitability, ensure compliance with governing documents, state law, tax requirements, and proper system coding.
• Process and coordinate fiduciary actions including discretionary distributions, document interpretation, tax compliance, and account maintenance on trust accounting system.
• Coordinate tax preparation, engagement letters, communication with CPAs, track, review and file tax returns, process tax payments, and process tax preparation fees.
• Prepare Crummey Notices and other required correspondence, requests, reports, etc.
• Maintain all fiduciary and administrative documents and history in an image-based document management system and CRM for each trust relationship for administrative management and continuity.
• Stay current regarding any developments in National and South Dakota trust law and communicate that information to trust team at NATC and how those developments may affect trust accounts.
• Educate and build relationships with our client RIAs, as well as their clients and estate planning professionals.
• Compliance with BSA/AML/OFAC-related laws and regulations as it applies within the scope of this position, including but not limited to, prompt completion of required BSA/AML/OFAC training.
• Additional duties and special projects as needed.

Organizational and Analytical Skills include

• Excellent verbal and written communications skills.
• Excellent analytical skills with the ability to exercise independent judgment consistent with guidelines.
• Strong attention to detail with a high degree of accuracy, and the ability to perform multiple tasks in a fast-paced team environment.
• Working independently and being able to effectively organize daily office operations to ensure sufficient handling and processing of information, record keeping, correspondence, and special project work.
• Ability to independently develop solutions to problems of moderate scope and complexity.
• Ability to organize and prioritize workflow to meet strict deadlines.
• Strong follow through and responsiveness.
• Ability to interact effectively with management and co-workers on a regular basis, be a team player
• Ability to maintain confidentiality.

Qualifications

• Undergraduate degree; CTFA preferred.
• A minimum of three (3) years’ experience in personal trust administration and estate planning, some experience in a directed trust environment preferred.
• Some knowledge of fiduciary law, trust administration, and estate planning, coupled with strong critical thinking and problem solving with the perseverance to bring challenges to resolution.
• Must be able to work in a risk-based culture and to identify legal and compliance issues.
• Microsoft Office applications (Word, Excel, Outlook, CRM, and PowerPoint).
• SunGard AddVantage strongly preferred.

Physical Requirements

• Must be able to remain in a stationary position for prolonged periods of time.
• Will occasionally move about inside the office to access file cabinets, office machinery, etc.
• Constantly operates a computer and other office productivity machinery, copy machine, and computer printer.
• Occasionally requires lifting objects that are 20 pounds to a height of 3-4 feet

This job description is subject to change at any time.