SVP Trust Officer

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SVP, Trust Officer
Duties: Responsible for the complete administration of personal trust accounts including estates, trusts, guardianships and agencies up to and including moderately complex situations. Represents the bank in contacts with customers, attorneys, beneficiaries and other related parties. Administers assigned personal accounts; studies and analyzes the trust instrument; determines and adheres to the responsibilities, duties, and terms of the governing trust document; monitors account activity ensuring compliance with established policies, procedures, rules, and regulations. Contacts, corresponds, advises, and resolves more complicated problems with clients, beneficiaries, portfolio managers, attorneys, CPAs, and other professionals in the course of an administration of accounts. Represents bank in court appearances and in business-related activities. Develops new business; consults with other and refers other officers to new business prospects. Obtains appropriate documentation on accounts; authorizes payments from accounts, considers tax liabilities, and recommends/approves discretionary payments in accordance with bank policies. Represents the bank in court appearances, in business related activities including professional organizations, conferences, and seminars, and in other similar situations. Administer estates from asset collection through court processes and distributions per terms of will. Protect, insure, and oversee sale of real estate, financial assets, collections, and personal property. Locate tax returns and financial records for final tax returns and coordinate preparation and filing. Settle liabilities of decedent. Locate heirs. Represent the company as trustee with irrevocable and revocable trusts from reviewing documents, accepting a fiduciary role, collecting cost and tax information through investment process and final distribution. Preparations of annual tax returns are coordinated as are investment reviews and meetings with clients. Asset protection as indicated with estates is required. Review and settle medical claims, other liabilities and locate heirs. Open and coordinate investment role with investment management accounts for personal and individual retirement account assets. Collect assets with cost basis and acquisition dates and review with client special investment requirements and investment objectives. Coordinate meetings with portfolio managers. Contact clients with required minimum distributions from IRAs and order distributions as well as other distributions from IRAs. Open, collect assets, and tax information for custody accounts. Review advantages of managed accounts and attempt to upgrade fee level. Transfer cash and assets as requested. Recognize land trust and 1031 Exchange prospects. Develop and maintain relationships with area lawyers, accountants, and centers of influence for business referrals. Work closely with WTI financial advisors and Bank staff cross selling to all trust and investment clients. Initiate and monitor asset transfers. Review fees as to appropriateness. Maintain files, supplies, and marketing material at all locations. Maintain internal reviews of all accounts and coordinate with portfolio managers when needed.

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