Trust Administration Officer I

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Trust Administration Officer I
Duties: Responsible for administering personal trust accounts such as testamentary/intervivos trusts, foundations and agency accounts in accordance with terms specified in the trust instrument. Under general guidance from the trust team, opens and maintains estates, trusts, agency accounts and guardianships. Become familiar with the governing document to interpret terms, responsibilities and duties of the Bank. Receive guidance in understanding provisions of the documents and strategies associated with the assigned accounts. Develop and maintain relationships with clients to help execute day to day administrative functions. Maintain up-to-date knowledge of account activity by reviewing various reports. Seek guidance on tax and administration issues. Help deliver tailored financial solutions to high- and ultra-high-net-worth families, select professional services firms and select nonprofits. Exceptional, customized service and integrated solutions and strategies, investment management, trust and wealth planning set this team apart. For Trusts where CNB is trustee, reviews and revises paperwork from sales team (e.g., agreements, fee schedules, transfer proxies, receipt of assets, ensure accurate cost basis and tax acquisition dates, obtain any missing information and signatures, etc.). Make corrections and additions to ensure accuracy. Prepare new account paperwork, as required. Analyze anticipated income to insure sufficient cash is maintained to meet beneficiary distributions, banks fees, trust bills, etc. Obtain missing documents from clients. For Trust accounts, initiate annual administrative review of accounts. Review files for completed forms, codes, review payments and transactions and for accuracy. Review forms to ensure they are consistent with the Trust Document. Produce and review various tax reports for clients and intermediaries. Research tax deficiency notices. Pay estimated taxes and allocates tax payments between principal and income, file returns, and maintains tax calendars. Communicate with Tax Vendor and external intermediaries. Gather data for account reconciliation, ensuring distribution requirements are met for charitable trusts, computes distribution amounts for uni-trust accounts and reviews fee agreements between the bank, clients, and Co-Fiduciaries. Complete discretionary distribution requests. Submit formal requests to the Trust Officer for approval. Coordinate set up, tracking, and monitoring of personal property inventory; real estate, mineral, oil and gas, intellectual properties, and special financial assets. (i.e., notes, loans, partnerships, etc.) Provide client service by responding and researching client and colleague inquires by phone, email, and written communications. Respond to advisors and intermediaries regarding the administration and maintenance of accounts. Fields phone calls from clients and intermediaries. Review documents and responses to compliance department, audit and OCC inquiries after research is performed by TA. Gather information from clients for projects. Prepare draft correspondence letters and memos. Maintain new account logs. Follow appropriate Regulation 9 process. Maintain all appropriate training and continuing education requirements for both internal programs and external licenses and certifications.

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