Trust Administration Department Manager

Job Details

Description

Company Overview

National Advisors Trust Company (NAT) is a federally chartered trust company with ~$9 billion in assets under administration. Founded in 2001, NAT provides corporate directed trustee and custodian services to the financial services industry and the clients they serve. NATC’s strong and growing asset base makes the company one of the nation’s largest independent trust companies.

The culture within NAT is evolving as NAT continues to adapt and grow in a wealth management industry constantly changing. With a relatively flat organizational structure, the firm’s culture aligns with individuals who have an appetite to ask questions, contribute content, offer new or better solutions, galvanize internal relationships, and serve clients at the highest levels.

Job Summary

A Trust Administration Department Manager is a highly experienced, versatile fiduciary professional who will act as a manager, subject matter expert, and mentor for the Trust Administration department and the Trust Officers. They are charged with overseeing the staff and the administration of all trust accounts. 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; 5.) In-depth understanding and utilization of trust administration; and 6) Team building and leadership skills necessary to oversee a high performing team of professionals.

Responsibilities And Duties

• Oversee and manage departmental deliverables including:
• 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 instruments 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 the 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.
• 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.
• All fiduciary actions, including discretionary distributions, document interpretation, tax compliance, and account maintenance on trust accounting system.
• All coordinated 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.
• Help develop, manage and execute department goals, including maintaining budget and meeting revenue targets.
• Stay current on any developments regarding National and South Dakota trust law, and communicate new information and how it may affect trust accounts to the Trust Team at NATC.
• 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.
• Direct management responsibilities for team members, Including oversight of individual team member performance and career development.
• Additional duties and special projects as needed.
  

Leadership Skills Include

• Engage and mentor members of the team.
• Schedule and host team governance and meetings to manage day-to-day deliverables, address escalations, and prioritize need.
• Prepare and provide reporting on key deliverables and metrics to management.
• Participate in committee meetings as necessary.
• Partner with Trust Counsel and Trust Consultants on business development and provide trust and estate planning advice to potential clients.
• Participate in more complex company initiatives.
  
  

Organizational And Analytical Skills Include

• Excellent verbal and written communication 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 complex problems of various scope.
• 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 and be a team player.
• Ability to maintain confidentiality.
  
  

Qualifications

• Experience in all areas of trust administration required.
• Undergraduate degree; CFTA preferred.
• A minimum of ten (10) years of experience in personal trust administration, estate planning, or trust operations; some experience in a directed trust environment preferred.
• Knowledge of fiduciary law and fiduciary tax administration; coupled with strong critical thinking and problem solving with the perseverance to bring challenges to resolution.
• Experience managing a team of professionals.
• Must be able to work in a risk-based culture and to identify legal and compliance issues.
• Strong ability in all Microsoft Office applications (Word, Excel, Outlook, CRM, and PowerPoint).
• SunGard AddVantage experience 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 operate a computer and other office productivity machinery, including copy machine and computer printer.
• Occasionally required to lift objects that are 20 pounds to a height of 3-4 feet.
  
  

Benefits: National Advisors offers a wide range of employee benefits including 401K with company match, medical, vision and dental healthcare plans, paid time off, professional growth and internal promotion opportunities due to continuous organizational growth. NAH offers a competitive salary.