Trust Administrator:

DEPARTMENT: Legal Affairs
REPORTS TO: Vice President – Legal Affairs

FUNCTION:

Coordinates activities relative to administering trusts in accordance with terms created in trust, will, or court order.

Responsible for the opening, proper administration and closing of trust accounts in a small firm with a collegial atmosphere. 

• Must excel at developing good working relationships with professionals, clients and other areas of the company. 

• Must have a working knowledge of trust terminology and operational functions. 

EDUCATIONAL BACKGROUND & EXPERIENCE:

Minimum 2 or 4-year college, additional certification (Paralegal certificate or CTFA) or education (Cannon or ABA Trust School) a plus.

Three to five years experience with Trust Department or working with estates, trusts or tax issues.  Must be detail-oriented and have excellent communication skills.

ESSENTIAL DUTIES AND RESPONSIBILITIES: include the following. Other duties may be assigned.

Provide a high level of client-oriented service to our clients while complying with laws and regulations to which Commonwealth is subject.

Open proposed account files.  Prepare document comparisons (if applicable) for review by CTC Trust Counsel, obtain all documentation needed for account opening, conduct background checks as needed.  Establish and maintain excellent communications with client, their attorney and other Advisers.

Finalize documents for execution, seeing that everything needed for review by CTC Trust Counsel has been provided.

Coordinate opening of bank and brokerage accounts for new trusts.

Assist CTC Trust Counsel in preparation of Trust Summaries and Distribution Lists and see that essential information related to the account is disseminated  to the appropriate CTC areas in a timely manner.

Administer assigned accounts to provide excellent service. 

Prepare discretionary requests for review by CTC Trust Counsel, requesting additional information as needed.

Monitor additions to accounts and prepare Crummey notices, as needed.

Insurance Trusts – monitor premium due dates and send out notice letters in a timely manner.

Maintain current knowledge of developments affecting client accounts, including legal, tax and investment issues.

Adhere to all operating policies and procedures and ensure that support personnel do so, as well.

LANGUAGE SKILLS:  Ability to read, analyze, and interpret requirements of a trust and the directions received from the CTC Trust Counsel.  Ability to write reports, business correspondence, and procedure manuals. 

MATHEMATICAL SKILLS:  Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.

COMPUTER SKILLS: Good PC skills, ability to use Microsoft Office.  Past experience with trust accounting software (e.g., AccuTrust, SEI or SunGard) preferred.

REASONING ABILITY:  Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

PHYSICAL DEMANDS:  The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is frequently required to sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear.  The employee is occasionally required to stand and walk.  The employee must occasionally lift and/or move up to 10 pounds.  Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception, and ability to adjust focus.

WORK ENVIRONMENT: The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The noise level in the work environment is usually quiet.