What are the responsibilities and job description for the VP, Trust Officer position at Wintrust Financial Corporation?
Wintrust Wealth Management serves the financial needs of private clients, including high net worth individuals, business owners, and institutions. Since our founding in 1931, we have been helping clients meet their increasingly complex financial goals with the highest standards of service and integrity. Through our four companies, Wintrust Investments LLC, Wintrust Private Trust., Great Lakes Advisors LLC, and The Chicago Deferred Exchange Company LLC, we offer comprehensive wealth management solutions, including investment, trust, and asset management services. Wintrust Wealth Management is a division of Wintrust, a financial services company with more than $66 billion in assets.
Why join us?
An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 11 years) and Employee Recommended award by the Globe & Mail (past 6 years)
Competitive pay and discretionary or incentive bonus eligible
Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few
Family-friendly work hours
With 200 community bank locations, we offer opportunities to grow and develop in your career
Promote from within culture
Why join this team?
Responsibilities will include providing complete administration of guardianship, estate, or trust accounts which may also include personal trust accounts, individual retirement accounts, investment management agencies, up to and including moderately complex situations. Represents the bank in contacts with customers, attorneys, beneficiaries and other related parties. Administers assigned personal accounts; studies and analyzes the trust instrument, probate documents or other governing document; determines and adheres to the responsibilities, duties, and terms of the governing document; monitors account activity ensuring compliance with established policies, procedures, rules, and regulations. Contacts, corresponds, advises, and resolves more complicated problems with clients, beneficiaries, portfolio managers, attorneys, CPAs, and other professionals during administration of accounts. Develop new business; consults with others and refers other colleagues to new business prospects. Obtains appropriate documentation on accounts; authorizes payments from accounts, considers tax liabilities, and recommends/approves/approves discretionary payments in accordance with bank policies. Represents the bank in business-related activities including professional organizations, conferences, and seminars, and in other similar situations.
What You’ll Do
Administration
Administers accounts from asset collection through distributions per terms of document. Protect, ensure, and oversee sale of real estate, financial assets, collections, and personal property. Locates tax returns and financial records for tax returns and coordinates preparation and filing.
Represent the company as Trustee with irrevocable and revocable trusts from reviewing documents, accepting a fiduciary role, collecting cost and tax information through investment process and final distribution. Preparations of annual tax returns are coordinated as are investment reviews and meetings with clients.
Open and coordinate investment role with investment management accounts for guardianships, estates and personal and individual retirement account assets. Collect assets with cost basis and acquisition dates and review with client special investment requirements and investment objectives. Coordinate meetings with portfolio managers or other outside investment managers. Contact clients with required minimum distributions from IRAs and order distributions as well as other distributions from IRAs. Transfer cash and assets as requested.
Sales
Develop and maintain relationships with area lawyers, accountants, and centers of influence for business referrals. Work closely with other team members of Wintrust Wealth Management and the Bank in cross-selling opportunities, where appropriate.
Operational Duties
Initiate and monitor asset transfers. Review fees as to appropriateness. Maintain files, supplies, and marketing material. Maintain internal reviews of all accounts and coordinate with portfolio managers when needed.
Medical Insurance
The estimated salary range for this role is $85,000 - $120,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate’s qualifications, skills, and experience.
From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.
Why join us?
An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 11 years) and Employee Recommended award by the Globe & Mail (past 6 years)
Competitive pay and discretionary or incentive bonus eligible
Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few
Family-friendly work hours
With 200 community bank locations, we offer opportunities to grow and develop in your career
Promote from within culture
Why join this team?
- We are a growing team with a fast-paced, collaborative, team-centric, positive culture
- We employ approximately 300 associates and are responsible for more than $25 billion of client assets
- Strong track record of valuing and investing in existing talent by providing opportunities for growth and advancement
- We hold ourselves accountable to high standards, share wins, and operate ethically
Responsibilities will include providing complete administration of guardianship, estate, or trust accounts which may also include personal trust accounts, individual retirement accounts, investment management agencies, up to and including moderately complex situations. Represents the bank in contacts with customers, attorneys, beneficiaries and other related parties. Administers assigned personal accounts; studies and analyzes the trust instrument, probate documents or other governing document; determines and adheres to the responsibilities, duties, and terms of the governing document; monitors account activity ensuring compliance with established policies, procedures, rules, and regulations. Contacts, corresponds, advises, and resolves more complicated problems with clients, beneficiaries, portfolio managers, attorneys, CPAs, and other professionals during administration of accounts. Develop new business; consults with others and refers other colleagues to new business prospects. Obtains appropriate documentation on accounts; authorizes payments from accounts, considers tax liabilities, and recommends/approves/approves discretionary payments in accordance with bank policies. Represents the bank in business-related activities including professional organizations, conferences, and seminars, and in other similar situations.
What You’ll Do
Administration
Administers accounts from asset collection through distributions per terms of document. Protect, ensure, and oversee sale of real estate, financial assets, collections, and personal property. Locates tax returns and financial records for tax returns and coordinates preparation and filing.
Represent the company as Trustee with irrevocable and revocable trusts from reviewing documents, accepting a fiduciary role, collecting cost and tax information through investment process and final distribution. Preparations of annual tax returns are coordinated as are investment reviews and meetings with clients.
Open and coordinate investment role with investment management accounts for guardianships, estates and personal and individual retirement account assets. Collect assets with cost basis and acquisition dates and review with client special investment requirements and investment objectives. Coordinate meetings with portfolio managers or other outside investment managers. Contact clients with required minimum distributions from IRAs and order distributions as well as other distributions from IRAs. Transfer cash and assets as requested.
Sales
Develop and maintain relationships with area lawyers, accountants, and centers of influence for business referrals. Work closely with other team members of Wintrust Wealth Management and the Bank in cross-selling opportunities, where appropriate.
Operational Duties
Initiate and monitor asset transfers. Review fees as to appropriateness. Maintain files, supplies, and marketing material. Maintain internal reviews of all accounts and coordinate with portfolio managers when needed.
- Participate in special projects, as requested.
- Bachelor’s degree preferred; successful completion of Certified Trust and Financial Advisor program desired yet not required.
- Minimum of 5 years of estate or trust administration experience.
- Requires knowledge of guardianships, estates, personal trusts, IRAs, and investment management accounts.
- Exceptional verbal and written communication skills.
- Highly proficient per Microsoft Office Suite (Word, Outlook, Excel, etc.)
Medical Insurance
- Dental
- Vision
- Life insurance
- Accidental death and dismemberment
- Short-term and long term Disability Insurance
- Parental Leave
- Employee Assistance Program (EAP)
- Traditional and Roth 401(k) with company match
- Flexible Spending Account (FSA)
- Employee Stock Purchase Plan at 5% discount
- Critical Illness Insurance
- Accident Insurance
- Transportation and Commuting Benefits
- Banking Benefits
- Pet Insurance
The estimated salary range for this role is $85,000 - $120,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate’s qualifications, skills, and experience.
From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To build a company that reflects the communities we serve, we believe that fostering a unique and inclusive workplace where everyone feels valued and empowered to succeed will support our ongoing success. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.
Salary : $85,000 - $120,000