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Trust Officer
Union Bank
Los Angeles, CA, United States
Job Details - this job has expired, please see similar jobs below
Responsible for the administration of a wide range of trust accounts. The range of trust accounts will vary, and will include some of the more complex accounts drawn from any one or more of the following categories: probate, guardianships, living and testamentary trusts, roll-over investment trusts – IRAs, investment advisory and custody accounts. This includes managing all accounts in accordance with applicable legal requirements and securing Bank and external professional services as appropriate to fulfill the needs of trust clients. Summarize
Major Responsibilities:
Focus on performing the necessary functions associated with the account opening process of trust accounts.
• 30% Coordinate all fiduciary aspects of trust account administration (including, but not limited to securities, real estate, general accounting services/statements, taxes, legal, bill payment) as they pertain to the opening process with various support units within the Personal Trust area and other departments of the Bank. Provide new account documentation review in accordance with Bank policies and procedures for proper documentation and set-up.
• 30% Process the new account set-ups on the SEI Trust Accounting System with proper account coding; prepare, monitor, and follow-up on the ‘transfer requests’ packages for marshaling of assets and funding; and process cost basis adjustments and reconcile.
• 10% Keep current with the Bank’s policies and procedures as they pertain to BSA/AML, and Personal Trust’s Enhanced Due Diligence policies and procedures.
• 5% Prepare and monitor reports associated with the new account openings. Assist with ongoing trust administrative projects.
• 10% Work with supervisor to resolve complicated administrative matters.
• 15% Interface with and maintain favorable relationships with the support units of the Bank and the ‘Opportunity Originators’ that bring in new business to Personal Trust.
Qualifications
• Typically has demonstrated trust administration experience and the demonstrated ability to apply this specific knowledge in the administration of one or more types of trusts and estates.
• Typically has a demonstrated knowledge of the principles of trusts and estates, related taxation and financial planning practices and other specialized services applicable to the successful administration of a variety of accounts.
• Required to maintain current knowledge of trust laws, principles and regulations in general, and with regard to the specific nature of the accounts in the position’s book of accounts.
• Demonstrates the ability to perceive and present the needs of each account and to take responsibility for meeting those needs.
• Should have the demonstrated ability to communicate successfully, both orally and in writing, with clients and co-workers throughout the organization.
• Works well in a team environment.
• Ability to adapt to rapidly changing priorities.
• Familiarity with applicable accounting functions, as well as knowledge of Bank services is also required.
The above statements are intended to describe the general nature and level of the work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it’s the bank’s policy to only inquire into a candidate’s criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.