What are the responsibilities and job description for the Trust Operations Assistant position at Bank of Ann Arbor?
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Description
Summary of Duties: Responsible for planning, implementing, and completing steps of increased complexity in Trust Operations including: asset processing and control, account transfers, processing daily activity, trade execution and settlement, client statement production, and corporate actions. Rotational functions associated with daily processing. Assure optimal levels of service and accuracy are provided while adhering to critical deadlines.
Essential Functions
Asset Processing Functions
Description
Summary of Duties: Responsible for planning, implementing, and completing steps of increased complexity in Trust Operations including: asset processing and control, account transfers, processing daily activity, trade execution and settlement, client statement production, and corporate actions. Rotational functions associated with daily processing. Assure optimal levels of service and accuracy are provided while adhering to critical deadlines.
Essential Functions
Asset Processing Functions
- Complete the daily trade execution and/or settlement.
- Reflect new and incoming assets on the Trust Accounting system.
- Ensure that securities transfer information is reflected properly within the bank's Trust Accounting system and vault or custody locations.
- Track, post, and communicate corporate action details.
- Perform steps to review, create, and report the measurement of performance and returns as compared to industry indices on accounts and composites.
- Prepare the appropriate data to generate, review, and recognize account revenue.
- Generate client account statements.
- Maintain a working knowledge of the Trust Accounting System and other software applications utilized within Trust Operations. Understand the system capabilities, established parameters, interactions, and potential system operations.
- Ensure that skills are current to serve as a backup to others in the department in the event of absence.
- Perform additional duties as assigned.
- Bachelor's degree in business or equivalent work experience with 3 years related experience or 5 years progressively responsible, financial processing experience.
- Familiarity with Trust Operations functions; specifically securities trading, trust accounting and information technology needs.
- Strong organizational skills, an orientation to detail, accurate transaction processing, and able to detect situations that require analysis prior to processing.
- Solid understanding of personal computers and office software applications.
- Ability to prioritize responsibilities, problem-solve and work effectively with internal associates as well as occasional client contact.
