What are the responsibilities and job description for the Trust Operations Specialist position at Commercial Bank & Trust Co?
Job Description
Job Description
Role and Responsibilities :
- Post and maintain Trust Ledger including interfaces and trade settlements.
- Reconcile cash daily as well as bank and brokerage Statements.
- Pay bills for trust, estate, and agency accounts. This includes ACH payments and check payments to beneficiaries throughout the month.
- Update market values on investment securities and post from monthly, quarterly, and annual statements.
- Set up new assets, Name and Address records, and scheduled transactions.
- Reviews scheduled transactions on a weekly basis for verification of timely payment and audit of transaction set up.
- Verifies that supporting documentation and trust officer approval is in file for all scheduled transactions.
- Coordinates Annual Asset Review with outsourced third party.
- Timely produces and files accountings, cemetery reports, and R-CT reports as needed.
- Timely pays estimated tax payments and assists with CPA payments, and federal and state tax payments during tax season.
- Coordinates wire transfers for specific amounts as needed.
- Timely executes investment buys and sells as needed for retirement plans / custodial accounts.
- Assists with monthly fee processing and produces Other Accounts Receivable report for management.
- Prepares tax packages and coordinates with CPAs regarding annual 1041, 990 PF, and 1040 filings.
- Correspond with Beneficiaries as needed.
- Scans investment statements, confirmations, and other investment correspondence received via mail in a timely manner.
- Employee has prompt and regular attendance.
- Completes all training assigned by HR, IT, Compliance, BSA, and supervisor on a timely basis.
- Set goals for making referrals to contacts in the community.
- Has helpful attitude with co-workers and customers.
- Strives to improve efficiency in his / her work area through cost savings.
- Performs other duties assigned by supervisor.
- Follows IT Security Policies and Procedures, including the diligent reporting of phishing emails.
Qualifications and Education Requirements
Preferred Skills :
Commercial Bank and Trust Company is an Equal Employment Opportunity Employer-M / F / Vets / Disabled
