Trust Administrator Job Description
Trust administrator
provides guidance and serves as a valuable resource for Personal Trust and Investment Services business unit team members.
Trust Administrator Duties & Responsibilities
To write an effective trust administrator job description, begin by listing detailed duties, responsibilities and expectations. We have included trust administrator job description templates that you can modify and use.
Sample responsibilities for this position include:
Special projects that may arise from time to time
Responsible for gathering and reviewing initial data, documents, and other information provided by the client
Respond to client inquiries in a timely and accurate manner
Obtain clearance from necessary parties – tax, real estate, O&G
Prepare correspondence to beneficiaries and interested parties
Daily electronic archival of client communications and documents
Orders and distributes all Officer/SAA approved disbursements of funds according to account documents, court orders or client requests in accordance with accepted bank accounting standards
Ensures account is in compliance with legal and regulatory requirement relating to governing documents
Consults with internal partners (including Portfolio Managers, Wealth Management Advisors, Trust Operations, ) about client issues and potential opportunities
Adherence to BMO Harris Bank, N.A
Trust Administrator Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Trust Administrator
List any licenses or certifications required by the position: CE, CRM, ABA, CTFA, CREST, CFP, MCSE, SQL, MS, DBA
Education for Trust Administrator
Typically a job would require a certain level of education.
Employers hiring for the trust administrator job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and High School Degree in Business, Finance, Education, Accounting, Paralegal, Administration, Computer Science, Business/Administration, Economics, Law
Skills for Trust Administrator
Desired skills for trust administrator include:
Its products
Processes
Related bank and regulatory regulations and fiduciary responsibilities
Trust services unit and division
Microsoft Office
Personal Trust services unit and division
Agencies
Corporate trusts
Communication and sales skills
Problem resolution analysis
Desired experience for trust administrator includes:
Proficient in the Microsoft suite of applications (Word, Excel, ) and will be required to become familiar with product specific applications
Knowledge and understanding of fiduciary liability issues
Ability to handle change well
The CT Senior Trust Administrator (Vault) should possess the ability to coordinate with internal shared service partners, business managers, and external parties (as required)
The individual should be proficient in the Microsoft suite of applications (Word, Excel, ) and will be required to become knowledgeable with applications such as TAS/ASP, IMMS/GSP, ACS, RDARS, OLOVR, Bondholder record keeping systems, DSE, FiRRe, ORION and other product specific applications
Monitors daily activity reports (such as transaction history, cash balances, overdrafts and
Trust Administrator Examples
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Trust Administrator Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of trust administrator. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for trust administrator
- Assist Senior Trust Advisor and, at times, the Trust Officer Trainee with Trust Administration – preparation of various statements, letters, annual review forms and other documents pro-actively moving accounts through this process and conducting file research as required
- Reactively and where required, proactively, maintains timely written, verbal, and electronic communication with the Officers and external contacts, where required
- Assist Senior Trust Advisor in ensuring all trust administration is carried out in accordance with the terms of governing documents, relevant legislation, client needs, company policy, and department objectives
- Assist Senior Trust Advisor in responding to client queries and referring any matters requiring the exercise of discretionary powers to the discretionary committee
- Make effective use of all central support groups (Trust Client Services & Custody Group, Central Support Group, Securities, Income Tax, ) to ensure efficient administration and quality client service
- Assist Senior Trust Advisor in ensuring all branch related risk management activities are complied with and completed according to policy and procedures documented for Estates and Trust Services and fiduciary accounts including required documentation for new accounts and refers more complex issues to the Trust Officers
- Assist in the preparation of monthly/quarterly reports by following waterfall procedures and checklists
- Provide bookkeeping services to multiple clients which includes data entry, bank reconciliations, maintenance of A/R, A/P, & inventory accounts, answering client questions
- Assist Trust Officer Trainee and, at times, the Senior Trust Advisor with Trust Administration – preparation of various statements, letters, annual review forms and other documents pro-actively moving accounts through this process and conducting file research as required
- Assist Trust Officer Trainee in responding to client queries and referring any matters requiring the exercise of discretionary powers to the discretionary committee
Qualifications for trust administrator
- Minimum of 2 years experience in an administration related occupation
- University graduate with some work experience preferably in banking and finance operation (Fresh graduate will also be considered)
- Basic knowledge of Estate and Trust products and services
- Ability to deal with complex, controversial, and sensitive Investment Management
- Experience in the administration and support of trusts including general understanding of fiduciary products and concepts, including legal, tax and investments knowledge· Problem Solving/Risk Management – takes initiative, decisive, accountable, exhibits critical analysis and judgment
- Thorough understanding of Illinois and Wisconsin probate and trust law, community property tax rules, and federal estate, gift and fiduciary income tax law
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Trust Administrator Job Description
Job Description Example
Our growing company is hiring for a trust administrator. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for trust administrator
- Assist Trust Officer Trainee in ensuring all branch related risk management activities are complied with and completed according to policy and procedures documented for Estates and Trust Services and fiduciary accounts including required documentation for new accounts and refers more complex issues to the Trust Officers
- Respond to inquiries from interest parties related to the termination of the trust account, such as tax ramification, distribution calculations and closing process and timeline, serving as a liaison between other internal groups as needed
- Keeps informed of current bank policies and procedures, federal laws and regulations, , by attending and participating in monthly Wealth Administrator meetings and through the use of TPROC, TPOL, RegU and Blueflash
- May serve as backup to Trust receptionist periodically for vacation, illness, and lunch breaks
- Reviews, analyzes and confirms documents for direction
- Act as primary fiduciary and administrator for a portfolio of personal trust accounts working with appropriate support teams to ensure the execution of day to day account administration
- Act as part of the relationship management team for assigned accounts to identify, understand and develop solutions to meet both current and future financial needs of clients and their estate plans
- Conduct periodic account and document reviews to identify possible client needs
- Develop new revenue through various means including participating on sales calls and analyzing existing book of business for additional revenue opportunities and develop a professional referral network
- Seek out training, resources and professional groups that enhance the knowledge of tools and techniques required of the position
Qualifications for trust administrator
- Dividend and Corporate action knowledge useful
- Understanding of securities products and their transfer methods between brokerages preferred
- Understanding of relevant legal and investment terminology and concepts
- Estate and Trust Administration specific knowledge is an asset
- Execution and risk management
- Building and maintaining relationships with grantors, beneficiaries, remaindermen, co-trustees, attorneys and other professional advisors to provide superior service and advice in partnership with the Trust Officer
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Trust Administrator Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of trust administrator. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for trust administrator
- Monitoring document exceptions for new accounts and coordinate reporting with internal teams
- Administer trust-owned life insurance
- Manage relationships with internal business partners handle external relationships with life insurance, oil and gas, and real estate vendors
- Serve as secretary for the Special Assets and Real Estate Committee meetings
- Acts as liaison between clients, officers and other ISG support units in researching/responding to requests for information
- Keeps informed of current bank policies and procedures, federal laws and regulations, , by attending and participating in Personal Trust monthly meetings and through the use of TPROC, TPOL, RegU and Blueflash
- Assist clients with requests for, or changes in, account information and services, as authorized
- Handle requests for cash disbursements, web access support, questions on statement entries, and other client service-related inquiries
- The trust administrator assists trust officers in the preparation of reports for client or prospect meetings, as needed
- Pay customer bills in accordance to procedure
Qualifications for trust administrator
- Conversant with MPF/ORSO Ordinance and Regulations related guidelines and codes
- Willingness and desire to learn and grow within the company’s client service model
- Previous experience in Finance/Accountancy will be essential and or Administration of loans/bonds
- Experience in MS Office applications, such as Word, Excel, etc preferred and you will be required to become familiar with applications such as TAS/ASP, IMMS/GSP, ACS, RDARS, OLOVR, Bondholder record keeping systems, DSE, FiRRe, ORION and other product specific applications
- Ability to acquire a working knowledge of the portfolio of accounts by working closely with the Workflow Specialist or Client Service Manager
- Ability to interface with his/her Workflow Specialist and Team Leader to ensure compliance with both Firm and Corporate Trust policies and preferred practices, and to ensure client satisfaction
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Trust Administrator Job Description
Job Description Example
Our company is looking to fill the role of trust administrator. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for trust administrator
- Proactively partners to institute best practices in regards to plan administration, including the maintenance of organized and comprehensive files
- Ensure discharge of duties as a ‘B’ signing authority of JTC and its Subsidiaries
- Assist Trust Administrators in various functions such as data entry, filing, typing, research, processing time sensitive matters, Prepare minutes for Trust Admin Committee
- Daily mail – process incoming and outgoing work, performing requests, composing letters, typing, researching,
- Assist and prepare ticket work – data entry
- Perform special duties assigned
- Heavy customer interaction – telephone and person-to-person
- Support Trust Officers, Portfolio Managers and Relationship Managers on all types of client service matters
- Files database change forms and ensures all property files are prepared and maintained in orderly manner, including leases and contracts
- Prepares direct billings and database change forms
Qualifications for trust administrator
- Extensive network of local centers of influence
- Requires a Bachelor’s degree or equivalent required
- Must have outstanding verbal and written communication skills strong interpersonal skills
- Minimum 1-3 years experience in the administration of trusts, including, but not limited to
- An equivalent combination of education and related experience or training may be considered
- Basic knowledge of fiduciary taxation regulations and practices
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Trust Administrator Job Description
Job Description Example
Our growing company is looking to fill the role of trust administrator. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for trust administrator
- Handles all property-related duties, including tenant inquiries, right of way requests, legal actions
- Prepares monthly tax and rent delinquency reports
- Codes and submits property invoices
- Prepares and reviews the monthly Certificates of Insurance report summary and communicates unfulfilled obligations to Tenants
- Prepares letters and default notices as instructed by Property Manager
- Tracks sales reports and enters sales figures into database
- Effectively manage client base to provide excellent references
- Serves as liaison between clients, officers and other support units in researching/responding to requests for information
- Assists the Real Estate Portfolio Managers (REPM) in handling real estate related activities including sales, leasing, rent renegotiations and repairs
- Reviews outside agent statements and invoices to ensure accuracy
Qualifications for trust administrator
- Responsible for various reporting, including but not exclusive to current reporting and the Assets under Administration ("AUA"), including Investment Monitoring
- Extensive knowledge of financial services industry, wealth management products, and team selling
- Basic knowledge of GAAP and the analysis and reporting of financial data
- Excellent PC skills including spreadsheet applications
- Manages the larger and more complex accounts in accordance with the terms of the nominating instrument and in a manner consistent with the needs of principals, beneficiaries
- Responsible for the supervision of assigned staff and exercises the usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, and terminations