What are the responsibilities and job description for the Personal Trust Administrator position at Farmers National Bank of Canfield?
Job Details
Description
Personal Trust Administrator directs and coordinates activities relative to setting up and administering personal trusts, agencies, foundations, guardianships and estates. The Administrator works in conjunction with the Portfolio Manager to assist in the development and execution of the customer’s investment goals. The Administrator also works in conjunction with the Operations area to ensure the collection of income, dividends, receipts, disbursements and statements. At times, the Administrator will assist a client’s attorney, accountant, etc. to establish an estate plan.
ESSENTIAL DUTIES and RESPONSIBILITIES include, but are not limited to the following:
Description
Personal Trust Administrator directs and coordinates activities relative to setting up and administering personal trusts, agencies, foundations, guardianships and estates. The Administrator works in conjunction with the Portfolio Manager to assist in the development and execution of the customer’s investment goals. The Administrator also works in conjunction with the Operations area to ensure the collection of income, dividends, receipts, disbursements and statements. At times, the Administrator will assist a client’s attorney, accountant, etc. to establish an estate plan.
ESSENTIAL DUTIES and RESPONSIBILITIES include, but are not limited to the following:
- Effectively administer complex fiduciary trust accounts, agencies and foundations according to terms of the document. Monitor accounts on a daily basis, monitor daily cash balances, and prepare account reviews on a monthly basis.
- Assist in the administration of Estates and Guardianships (prepare inventories, distributions, court accountings), determine date of death values, tax basis issues.
- Assist in preparation of fiduciary income tax returns, preparation of gift tax returns/federal estate tax returns.
- Obtain all information necessary to establish accounts including documents, assets, beneficiary details, tax fillings and assisting in establishing investment objectives.
- Maintain accurate data on all client files together will full documentation.
- Monitor compliance matters and maintain compliance with all internal policies and procedures as well as with regulatory and legal requirements.
- In conjunction with the Portfolio Manager, assist in the coordination of investment needs for clients, including cash management and asset allocation choices.
- Proactively provide professional service to satisfy client needs. Identify and resolve client issues arising in the course of administration of an account.
- Assist in developing Trust Company services and products.
- Maintain communication with attorneys, CPAs, etc. for potential trust business.
- Have a general knowledge of bank products and the ability to introduce trust clients to bank services to support new business for the Trust Company and the Bank
- Perform tasks/projects/duties as assigned
- Complete all mandatory and elective training, including BSA (Bank Secrecy Act) and Anti-Money Laundering procedures. Maintain compliance with all appropriate rules and regulations.
- Regular, predictable attendance is an essential requirement of this position
- Bachelor's Degree in Business Administration, Finance, or related field. JD or CPA preferred.
- Minimum 3-5 years background in Trust or related business
