Chief of Trust and Investment Administration

Company: Idaho Trust Bank
Location: Boise
Posted on: November 24, 2022

Job Description:

WHY WORK WITH USIdaho Trust Bank, headquartered in beautiful Boise, Idaho, is listed as one of America's Best Business and Private Bank's while also being named one of the top 200 healthiest banks in America. We have a deep professional commitment to our clients and take pride in providing superior service to meet their unique financial needs.You will have the opportunity to work with incredible co-workers, along with continued learning and educational opportunities. Professionalism, mutual respect, and a sense of humor are traits we value and exhibit.If you are looking for a place to prove yourself in a rewarding work environment with a company that believes a great culture is the key to success, we just might be the place for you. Come grow with us!SUMMARYIdaho Trust Bank is looking to hire a Chief of Trust and Investment Administration. The person will be based in Boise and will supervise the Boise Trust Officers and Trust Administrators. The officer will report directly to the Chief Wealth Management Officer. In addition, the candidate is responsible for administering a portfolio of fiduciary and agency high net worth client relationships for the Bank. Responsible for maximizing client engagement by assessing, understanding, and identifying client's wealth management, banking, and lending needs and providing a wide array of wealth solutions including trust and estate services to clients within the Bank's market area. The position is responsible for assisting in attaining department and Bank goals by collaborating in sales efforts.ESSENTIAL DUTIES

• Reinforces the application of superior customer service through his or her own example along with appropriate follow through with involved customers and employees.
• Administers a portfolio of trust and agency relationships of high net worth clients for the Bank; provides trust and estate solutions to clients within the Bank's market area; maintains business relationships and obtains new business opportunities.
• Maximizes client engagement by assessing, understanding, and identifying client's wealth management, banking and lending needs and providing a wide array of wealth solutions including trust services to include estates, personal trust, guardianships, corporate trusts, and any other appropriate fiduciary capacity.
• Acts as the main point of contact and provides comprehensive and knowledgeable advice as a trusted consultative financial advisor; places the client's best interest first; expands the client relationship through introductions with various banking areas and personnel.
• Confers with clients, heirs, attorneys, tax professionals, and other interested parties as necessary over the life of the account to explain the Bank's role; resolves issues or problems, establishes the needs and interests of each, and provides assistance.
• Assumes responsibility for the administration and discharge of the Bank's legal/fiduciary responsibility for all assigned estate and trust accounts.
• Performs a detailed analysis of unique needs and requirements of the assigned accounts; studies nominating instrument, determines cash requirements, and anticipates tax consequences.
• Conducts a review of wills and trust agreements to ensure accounts are properly structured to meet fiduciary responsibilities.
• Directs the collection, appraisal, safekeeping, disposition, and accounting for all tangible personal property in accordance with the terms and conditions of the fiduciary agreement under which the Bank is appointed and in accordance with related Bank policies, procedures and processes.
• Coordinates with the investment personnel to monitor cash and investments of each account with consideration of the objectives of the accounts, the needs of beneficiaries, and cash requirements for taxes and distributions.
• Investigates and follows up on significant changes in status of existing clients; maintains an active awareness of changes in legal requirements which may affect trust and estate accounts; resolves any issues or problems as necessary.
• Prepares and maintains documentation, status records and reports on trusts, estates, business development, and financial planning activities; prepares various reports, statements, and forms including tax, regulatory, and other governmental forms as required.
• Reviews each relationship at least annually to ensure compliance with trust terms, proper fee allocation, proper documentation, investment, etc..
• Participates in community affairs, business and service organizations, including public speaking; actively involved in instilling and maintaining a positive sales environment through education of the Bank's products and services.
• Partners with internal and external entities to source and solidify relationship opportunities and attain client financial goals.
• Provides -superior client service -and follow through when handling issues related to Bank clients and employees.
• Responds to inquiries or refers inquiries to the appropriate department or person, and exhibits the necessary follow through with clients and/or staff involved.
• Provides support to all areas of the department where assistance is needed.
• Consistently applies superior decision making techniques pertaining to inquiries, approvals and requests as they apply to existing policies and procedures, keeping within assigned approval limits.
• Assumes responsibility for special projects; gathers data and prepares reports for Executive Management, audits and other personnel.
• Processes, solves and answers complex customer transactions, problems or inquiries.
• Assures compliance with all Bank policies, procedures and processes, and all applicable state and federal banking laws, rules and regulations; adheres to Bank Secrecy Act (BSA) responsibilities that are specific to the position.
• Completes administrative tasks correctly and on time; supports the Bank's goals and values; benefits the Bank through outside activities.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one's own actions and conduct.SUPERVISORY RESPONSIBILITYThe position of Chief of Trust and Investment Administration is responsible for the supervision of three of more employees. The incumbent in this position may perform managerial duties in the absence of the Chief Wealth Management Officer, and will carry out supervisory responsibilities in accordance with the Bank's policies and applicable laws.SECONDARY DUTIESThe candidate performs duties specific to the position and other functions as assigned.MINIMUM REQUIREMENTSThese specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.
  • Bachelor's degree (BA) from a college or university, at least 3 years related experience and/or training; or the equivalent combination of education and experience. Work related experience should consist of an in-depth background in trust administration and client portfolio management. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be applicable to the financial industry.
  • Required license(s) or certifications: CTFA preferred (or commitment to become certified) or law degree.
  • Advanced knowledge of trusts including all charitable vehicles such as unitrusts, annuity trusts, lead trusts, private foundations, estate planning, and trust taxation.
  • Demonstrated ability to cross-sell and explain all Bank products and services with confidence and authority.
  • Advanced knowledge of financial products and services, including, but not limited to consumer and commercial banking products and services, trust, brokerage and investments, insurance, etc.
  • Ability to supervise Trust Officers and Administrators
  • Ability to read, analyze and interpret general business periodicals, professional journals, and technical procedures.
  • Excellent organizational and time management skills.
  • Intermediate skills in computer terminal and personal computer operation; host computer system; word processing, spreadsheet and specialty software programs.
  • Intermediate typing skills to meet production needs of the position.
  • Intermediate math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
  • Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, speak clearly to customers and employees.
  • Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
  • Ability to work with minimal or no supervision while performing duties.
  • Current driver's license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.BENEFITS WE OFFER
    • Paid Time Off (PTO)
    • Paid Holidays (11 of them!)
    • Medical, Dental, & Vision
    • 401K w/Match
    • Life Insurance
    • Transportation Stipend
    • & Many More
      

Keywords: Idaho Trust Bank, Boise , Chief of Trust and Investment Administration, Accounting, Auditing , Boise, Idaho