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Trust Operations Specialist

Non-Exempt - Grade Level 5

Equal Employment Opportunity

Corporate Values and Mission

“Provide superior service, quality advice and show utmost respect to everyone we meet.”

General Summary

The Trust Operations Specialist is responsible for accurately and efficiently creating, reviewing, and posting a variety of transactions utilizing trust accounting software. Accurate fiduciary accounting is essential to successful achievement of the overall goals and objectives of the Wealth Management Department.

Reports to: SVP Senior Trust Officer

Essential Duties and Responsibilities

• Responsible for the settlement of all daily trade activity, asset transfer, collection and posting of dividend, interest income and capital gain distributions. Affirms trades on third party custodian’s systems. Communicates and settles daily with various securities custodians including Federated, Fifth Third Bank, and Mid-Atlantic.
• Performs daily sweep function as needed.
• Process security activity including, but not limited to, buys, sells, mergers, spin-offs, stock splits, name changes, tax lot adjustments, etc.
• Allocate collected income and dividends to client accounts on trust systems.
• Process receipt and disbursement transactions in accordance with bank policy including payments of client’s credit card bills, utilities, tax payments, insurance bills and medical payments via check, ACH, wire, and internal transfers.
• Accurately maintain client account records. Monitor cash levels in accounts and report deficiencies in cash to the assigned officer.
• Work with Trust Operations Coordinator and other department members to perform daily, weekly, and monthly reconciliation of the trust account system and department deposit accounts.
• Communicates with custodians, system vendors, etc. regarding ongoing transactional and settlement issues.
• Maintain proficient knowledge of updates and changes to the core operating system. Adhere to all compliance laws and regulations of Trust and investment-related laws and rules as it may pertain to the duties of the position.
• Set-up and perform profile maintenance of client assets when needed.
• Aid in unique or escalated situations within all areas of trust operations.
• Aid the assigned account officer in the preparation of Reg 9 annual account reviews.
• Additional responsibilities as assigned.
• Be familiar with and comply with the provisions of the Bank Secrecy Act and USA PATRIOT Act as they relate to the functions of this position. Complete all required reports related to those acts and reports any observed violations or potential violations of those acts to a supervisor or other appropriate bank officer.
• Be familiar with and comply with all federal and state banking regulations as applicable.

Qualifications

To perform this job successfully, an Individual in this position must be able to perform each of the above essential duties satisfactorily and exhibit the values of the Company. In addition, the requirements listed below are representative of the knowledge, skill and/or ability required.

Experience And/or Education

• High school Education
• Three years of experience within a Private Bank/Trust setting

Core Competencies

Problem Solving – Identifies and resolves problems in a timely manner; gathers and analyzes information skillfully; develops alternative solutions; works well in group problem solving situations; uses reason even when dealing with emotional topics.

Oral & Written Communication – Effective written and oral communication skills required, with the ability to interface with Internal and external stakeholders and vendors/third party providers. Has group presentation skills. Can read and interpret written information.

Technical Skills – Assesses own strengths and weaknesses; pursues training and development opportunities; strives to continuously build knowledge and skills; shares expertise with others. Has a thorough understanding of underwriting, coverages and rating procedures.

Professionalism – Approaches others in a tactful manner; reacts well under pressure; treats others with respect and consideration regardless of their status or position; accepts responsibility for own actions; follows through on commitments.

Motivation – Demonstrates persistence and overcomes obstacles; takes calculated risks to accomplish goals. Is a self-starter.

Quantity – Meets productivity standards; completes work in a timely manner; strives to increase productivity; works quickly.

Initiative – Undertakes self-development activities; takes independent actions and calculated risks; looks for and takes advantage of opportunities; asks for and offers help when needed.

Innovation – Displays original thinking and creativity; meets challenges with resourcefulness; presents ideas and information in a manner that gets others’ attention.

Physical Demands & Work Environment

Ability to work in an office environment which may include many hours of computer and telephone usage. Must be able to lift 25lbs. This position is not remote-eligible. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

This position description is not to be construed as an exhaustive statement of duties, responsibilities, or requirements. Employees may be required to perform any other job-related instructions as requested by their supervisor, subject to reasonable accommodations.