Wealth Management Officer

Salary Grade : 21

SUMMARY:

The Wealth Management Officer will direct and manage activities relative to the administration of agency investment management accounts, personal trusts, court-ordered guardianships, and other fiduciary accounts in accordance with the terms of the trusts, wills, court orders, or other governing documents.  The incumbent will consult with attorneys in the process of preparing and drafting wills and other legal documents in which the Bank is to be named Executor, Trustee, Guardian, or the like to ensure that the terms, details, and conditions of such documents are acceptable to the Bank from a risk management perspective.  The incumbent will act as an advocate for clients by facilitating all of their financial dealings with the Bank.

ESSENTIAL JOB FUNCTIONS & RESPONSIBILITIES:

Trust Administration

1. Directs and coordinates activities relative to administering investment management accounts and a variety of trust accounts in accordance with their governing instruments, as well as state and federal tax and fiduciary laws.   Locates, directs and coordinates the transfer and placement of funds, securities, and other assets into investment management and trust accounts.  
2. Performs in the role of a trusted financial advisor by coordinating and developing strategies to effectively deal with all aspects of the clients’ financial situation.  This includes financial, retirement and estate planning issues and involves working in concert with the clients other advisors such as accountants and attorneys.  Acts as an advocate for clients in order to facilitate all of their financial dealings with the Bank.
3. Directs and coordinates the disbursement of funds according to the conditions set forth in the accounts’ governing instrument.
4. Maintains active communication with Bank colleagues, clients, beneficiaries, legal counsel and co-fiduciaries.  
5. Participates on the Trust Administrative Committee to evaluate the acceptability of new trust accounts, determine the propriety of discretionary disbursements, and otherwise monitor the administration functions of the Trust and Asset Management Department.
6. Provides advice to clients regarding estate and gift tax administration, wealth transfer and fiduciary issues.

Client Service

1. Monitors the resolution of client service issues, account reconciliation, audits and plans of division.
2. Prepares client communications as needed.
3. Responds to routine requests from clients regarding their accounts

Compliance

1. Must maintain current knowledge and understanding of legal, tax and/or legislative changes that affect trust and investment activities.
2. Must have knowledge of trustee responsibilities relative to investing trust assets, specific securities laws, OCC Regulation 9 and relevant ethical issues.
3. Performs all duties in accordance with prescribed regulatory compliance guidelines. Must have understanding of the fundamental tenets of trust law.

Team Collaboration

1. Participates on various committees on behalf of the business unit.  Provides input and advice on business issues.
2. Provides any support necessary to promote and support the acquisition of new customers for the Bank.
3. Supports the efforts of senior management and other department managers in team building with other internal customer contact areas.

New Business Acquisition

1. Consults with client’s attorney who drafts legal documents specifying details, conditions and duration of trusts.
2. Establishes network of appropriate contacts (i.e. CPAs, attorneys, financial planners, community leaders, etc.) to help ensure that new business accrues to the Bank.
3. Cooperates with directors and officers of other bank departments in marketing trust services.
4. Assists in the education of Bank employees in order to encourage the identification and referral of qualified prospects to the department.
5. Participates in meetings with prospects and clients to acquire new business for the Bank and aid in the retention of existing clients. 

QUALIFICATIONS:

EDUCATION & CERTIFICATIONS: 

• Bachelor’s Degree.
• Advanced trust school or other professional certifications preferred include: CTFA, CPA, CFP and/or JD.

KNOWLEDGE, SKILLS & ABILITIES:

• Minimum of three experience as a Trust Officer in a bank trust department.
• Prior successful experience working with senior trust and asset management personnel.
• Strong business development skills including, but not limited to, conducting seminars, networking and participating in one-on-one meetings with prospects. 
• Detailed knowledge of fiduciary and trust administration.
• Well-developed knowledge of the financial markets and the ability to communicate that knowledge effectively to clients and prospects.
• An intermediate knowledge and skill level of computer applications and a desire to learn new applications in support of departmental operations.
• Bachelor’s degree required; preferably in business, finance or accounting.  Advanced degree a plus.
• Commitment to continuing education.
• Excellent interpersonal skills.
• Customer service ethic that matches CC5’s.

COMPETENCIES:

• Must have cyber security awareness to protect the digital environment, the Bank, and customers.
• Business Acumen
• Culture/Guest/Customer Service Ambassador
• Sound Judgment
• Delegation
• Technology Enthusiast/Early Adopter
• Problem Solving
• Excellent Verbal and Written Communication Skills
• Critical Thinking Skills
• Financial Comprehension
• Learning Agility
• Entrepreneurial competencies