Delaware Senior Trust Officer
Wilmington, Delaware
Job Description:
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Job Description:
The Delaware Senior Trust Officer (Delaware STO) maintains a trust book and is a seasoned Trust Officer providing Delaware Trust Law expertise to the national markets. Delaware STO works closely with national Private Bank teams and ML fiduciary advisors to achieve strategic objectives of PWM markets overall. The Delaware STO's primary responsibilities are the administration of the Delaware IM&T book, as well as, working with the client teams to facilitate Delaware Trust Book growth. The Delaware STO will have a complex book of business and will be expected to deepen his or her relationships through estate and financial planning. The Delaware STO works with the PCA/Client Team or ML financial advisors and/or national MTE, MTTL or TTL to assure trust product awareness and education of clients and Private Bank associates in national markets. Responsible for the Delaware STO book's management of fiduciary risks and trust policy adherence. Able to mentor more junior associates. Well-respected internally and externally (e.g. COI) with proven ability to partner effectively.
Key Responsibilities:
Work with clients, their attorneys and other professionaladvisors includingco-trustees, investmentadvisors, accountants,distribution advisors, and protectors to understand the comprehensive estate plan. Facilitate a collaborative team approach to provide superior client service.
Respond to requests frombeneficiaries includingrequest for discretionarydistributions. Obtainsupporting documents such as tax returns andbudgets. Preparediscretionary distributionrequest outliningthe dispositive provisions and otherrelevant languagein the trust agreement and make recommendations regarding how the Trust Company should exercise discretionary powers pursuant to the terms of the governing instrument. Confer with co-trustee (if any) to obtain his/herapproval. Communicate thedecision to client.
Minimize account risk by analyzing trust documents and performing annual account reviews for compliance with trust provisions, state and federal regulations, and trust policy andprocedure adherence. Utilizerisk management tools, such as the overdraft report, daily transactionreport, etc.
Communicate withinvestment advisors, portfolio managers,and financial advisors regardinginvestment matters and liquidity needs.
Work with the Account Opening Group to open trust accounts. Interpret the governing instrument to ensure the proper set-up of account records, including payments, fee schedules and tax records. Communicate with beneficiaries and co-trustees to outline administrative procedures.
Must have detailed knowledge of how trusts function and are administered. Prior experience administering Delaware Directed Irrevocable Trusts is preferred.
Need to be detail-oriented and be able to manage multiple priorities and projects. The trust officer should have excellent time management and organizational skills. Since the trust officer will interact with clients and their advisors, the trust officer should also have very strong communication and interpersonal skills.
Must be able to effectively coordinate with the Bank's Tax Team, various fund managers, and the clients' personal tax preparers to ensure information is shared with the appropriate parties for timely completion of the applicable tax returns.
Eager to contribute ideas to continuously improve systems and processes to ensure we can deliver the best possible service for our clients.
Willing to mentor junior associates to help with their growth and development.
Adhere to the Bank's core values of delivering together, acting responsibly, realizing the power of our people, and trusting the team.
Desired Qualifications:
7 plus years of trust experience
Bachelor's degree required or equivalent experience, CTFA or JD preferred.
Skills:
Account Management
Analytical Thinking
Attention to Detail
Client Management
Customer and Client Focus
Active Listening
Collaboration
Critical Thinking
Prioritization
Relationship Building
Mentoring
Oral Communications
Organizational Effectiveness
Problem Solving
Written Communications
Shift:
1st shift (United States of America)
Hours Per Week:
40
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