Trust Administrator - Commonwealth Trust Company : Job Details

QUALIFICATIONS

• Minimum BA or BS from an accredited 4-year college/university, Finance major and/or Trust Management minor preferred
• Minimum of one to three years of Trust Administration experience required
• Cannon or ABA Trust school a plus
• CTFA certification preferred
• Excellent verbal and written communication along with strong organizational skills
• A passion for working with clients providing exemplary customer service
• Experience with Microsoft Office Suite

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Request, receive, evaluate, and organize required documentation in connection with trusts for which the Company is being considered to serve as Trustee.
• Initial entry of information for trusts into CRM and accounting systems, and related file setup for Trusts.
• Handle opening bank and brokerage accounts for trusts.
• Handle directions for investment transactions to be carried out for trusts.
• Handle requests or directions for distributions from trusts.
• Handle payments of trust expenses, including insurance premiums, etc. and ensure all are made in a timely manner.
• Draft and send Crummey notices and other beneficiary notices when the Company is required to send them for Trusts.
• Request, receive, evaluate, and organize information and documentation in connection with the administration of Trusts.
• Record transactions and other information in the Company's accounting software for Trusts and respond promptly to suspense items and other internal inquiries with regard to assigned trusts.
• Perform annual reviews of certain aspects of Trusts.
• Assist in the preparation of bills for the company's services as Trustee by reviewing billing entries in the Company's billing records and providing a description of the services for invoices.
• Assist with the collection of amounts owed for the Company's services as Trustee.
• Perform Patriot Act compliance for all new and transfer trusts and the relevant parties as well as resolve any and all exceptions found during such compliance process.
• Engagement in business development activities, such as meeting with prospective grantors.
• Assist in the training of one or more Trust Administrator Assistants, as requested.
• Provide a high level of client-oriented service to our clients while complying with laws and regulations to which the Company is subject.
• Open proposed account files. Prepare document comparisons (if applicable) for review by Trust Counsel, obtain all documentation needed for account opening, conduct background checks as needed. Establish and maintain excellent communications with client, their attorney and other advisors.
• Finalize documents for execution, seeing that everything needed for review by Trust Counsel has been provided.
• Respond promptly and professionally to client and external inquiries.
• Maintain current knowledge of developments affecting client accounts, including legal, tax and investment issues.
• Adhere to all operating policies and procedures and when working with support personnel, ensure that they have done so as well.

Physical Requirements:

• Prolonged periods sitting at a desk and working on a computer.
• Must be able to lift up to 15 pounds at times.
• Occasional travel may be required.