What are the responsibilities and job description for the Trust Operations Specialist position at Old Second National Bank?
Who We Are
At Old Second, you're first! For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.
With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together!
Move your career forward at Old Second.
Position Overview
The Trust Operations Specialist is responsible for general operational duties with the Trust Department. This is a multi-faceted position encompassing several tasks on a daily basis. Ability to collaborate with a team of Trust Operations Specialists, each with a primary focus, with flexibility to provide back-up support as needed.
Primary Job Functions
The primary responsibilities of this role include posting and balancing income.
Secondary responsibilities include asset receipt and deliveries and trade settlements.
Minimum Requirements
Associate’s degree or equivalent and two or more year of experience in accounting, financial services, investments, trust and/or related experience; or equivalent combination of education and experience
Competencies
This position requires the incumbent to work onsite on a daily basis to perform the regular responsibilities of the role.
Compensation & Benefits
Base pay: $24.32 - $32.00
Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent’s knowledge, skills and experience.
Benefits: How We Support You - Old Second
Thanks for considering Old Second!
At Old Second, you're first! For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started.
With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together!
Move your career forward at Old Second.
Position Overview
The Trust Operations Specialist is responsible for general operational duties with the Trust Department. This is a multi-faceted position encompassing several tasks on a daily basis. Ability to collaborate with a team of Trust Operations Specialists, each with a primary focus, with flexibility to provide back-up support as needed.
Primary Job Functions
The primary responsibilities of this role include posting and balancing income.
- Processes income, dividends, maturities and calls for holdings held at various custodians.
- Processes scheduled payments for Trust accounts (e.g. checks, ACH, wires) and processes receipts (e.g. rents, note payments, misc scheduled receipts).
- Maintains daily blotters and balances daily work.
- Sends appropriate correspondence for address changes banking information changes in accordance with internal controls.
- Produces OFAC file and cross checks FINcen list.
- Sets up accounts on Trust Reporter. Interacts with client for password assistance.
Secondary responsibilities include asset receipt and deliveries and trade settlements.
- Trade settlement for stocks, bonds and mutual funds.
- Performs reconciliation of assets held at various custodians.
- Balances Trust checking account daily and internal accounts monthly.
- Processes Common Trust Fund valuations and trades.
- Processes sweep vehicles for trust accounts.
- Performs transfers, incoming and outgoing assets thru ACAT system.
Minimum Requirements
Associate’s degree or equivalent and two or more year of experience in accounting, financial services, investments, trust and/or related experience; or equivalent combination of education and experience
Competencies
- Strong attention to detail especially related to math/accounting
- Ability to multi-task and organize daily tasks
- In-depth problem solving & reconciliation skills
- Knowledge of Trust Department accounts systems (Fi-tek preferred)
- Prior accounting and/or trust experience a plus
This position requires the incumbent to work onsite on a daily basis to perform the regular responsibilities of the role.
Compensation & Benefits
Base pay: $24.32 - $32.00
Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent’s knowledge, skills and experience.
Benefits: How We Support You - Old Second
Thanks for considering Old Second!
Salary : $24 - $32
