Purpose: Administer Trust accounts in accordance with terms of governing legal documents, laws, regulations and trust department policies. Assist in the development of new client relationships for the department and work to expand existing client relationships. Act in the best interests of the trust beneficiaries and the bank.
Essential Duties & Responsibilities:
Account Administration: Manage a portfolio of existing relationships emphasizing client service as well as the retention and expansion of these relationships. Analyze requests and make decisions regarding discretionary distributions. With the assistance of senior staff, handle the administration and settlement of estates where the bank is acting as executor or administrator, comprising administration of estate assets, ensuring timely completion of all required reports, ensuring timely completion and filing of all required tax returns, completion of the interim and final distribution of estate assets and closing the estate proceedings. Communicate with investment managers to ensure all assets held in accounts are properly invested and managed. Communicate with clients, beneficiaries, attorneys, and financial professionals on behalf of the bank. Effectively utilize personal meetings, written correspondence, email, and the telephone to deliver outstanding client service to all current and prospective clients. Work to timely solve any problems arising in the administration of trust department accounts. Attend meetings of Trust Committee, Trust Administration Committee and Trust Investment Committee, as well as any other committee meetings requested by the Senior Trust Officer. (85%)
New Business Development: Solicit additional trust, estate and investment business from existing clients and prospective clients. Work with bank employees from other departments and outside referral sources such as accountants, attorneys, and other centers of influence in the community to actively solicit new business referrals to the trust department. Work with existing clients and prospects to solicit new business referrals to the retail bank. Participate in professional organizations and attend educational meetings to develop a network of referral sources within the community. Complete new business goals assigned by the Senior Trust Officer. (10%)
Build Strong Communities: Be actively involved in identifying the needs of businesses and families in the community. Participate in community events, including maintaining membership in a nonprofit organization, staffing an event (art festivals, community celebrations, etc.) on behalf of West Bank, hosting clients at an outside event and representing West Bank at events as requested by the Senior Trust Officer. (5%)
Qualifications: BS/BA CFP, CFTA and/or other equivalent trust experience/education. Assistant Trust Officer or equivalent experience. Strong client service and relationship development skills. Experience with complex legal documents, Basic knowledge of investment instruments and tax rules. J.D. preferred.
Founded in 1893, West Bank is a community bank providing full service banking and trust services to consumers and commercial customers. West Bank has seven offices in greater Des Moines, one office in Coralville, and offices in Rochester, Owatonna, Mankato, and St. Cloud, Minnesota.