PBC Trust Officer I

Fifth Third Bank; Cincinnati (OH); On-site; USD 75,000 - 110,000; Full time

Job summary

Fifth Third Bank is seeking a Trust Officer I to join the Private Bank Center in Cincinnati. You will administer agency, IRA, and custody accounts, manage multi-generational trusts, and support estate plans with discretion and compliance.

The role emphasizes risk management, client service excellence, and collaboration with sales teams to deepen client relationships. Ideal candidates have 5+ years in financial services, a degree (preferred), and strong knowledge of estate, gift, and income tax

Qualifications

• Bachelor's degree preferred or related experience required.
• 5+ years experience in financial services.
• Effective client relationship skills and experience
• Demonstrates knowledge and skills in the areas of trust administration, estate planning strategies, and income, gift and estate tax matters.

Responsibilities

• Coordinates services for a portfolio of Personal Trust accounts, consisting of mostly agency, IRAs, and custody accounts.
• Reviews, supports, and approves or declines discretionary action requests, including distributions in accordance with the underlying document and according to Bank Policy.
• Administers multigenerational trusts, often with discretionary income and principal payments distributed among multiple family members while managing financial and compliance risks.
• Executes the terms of estate plans or documents for which Fifth Third Private Bank serves as Trustee, Executor, Personal Representative, Guardian or Agent, often exercising broad discretion regarding issues among and between beneficiaries with competing interests.
• Completes annual administrative account reviews and other compliance responsibilities.
• Engages in fiduciary decision-making. Executes decision and manages financial risk in best interest of the clients.
• Retains client base by adhering to established client contact standards and ensure the involvement of al team members, as necessary.
• Works with IM&T Affiliate Support Center to open and close accounts, process transactions, and maintenance accounts.
• Oversees and ensures that all accounts, fees, statements, asset transfers, and internet set-up are complete and accurate.
• Acquires additional assets from existing clients. Identifies other bank products and services to enhance client relationships.

Skills

Trust administration

Estate planning

Tax matters

Client relationship management

Education

Bachelor's degree preferred

Job description

Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.

GENERAL FUNCTION:

The Trust Officer I is a member of the Private Bank Center and is responsible for the administration of a variety of accounts including some fiduciary accounts (revocable and irrevocable), agency accounts, IRAs, ILITs and custody accounts, with total book revenue exceeding $1 million. May work with Private Bank clients' estate plans, which may include the use of multiple accounts and multiple beneficiaries. The primary strategic focus of the Trust Officer I (PBC) is the administration of agency, IRA, and custody accounts, with serving some personal trust accounts as a secondary focus. Target size of account book: 350 150 - 450 500, depending on account type concentration (e.g., personal trust accounts, agency accounts, IRAs, custody accounts).

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Client Service
  • Coordinates services for a portfolio of Personal Trust accounts, consisting of mostly primarily agency, IRAs, and custody accounts.
  • Reviews, supports, and approves or declines discretionary action requests, including distributions in accordance with the underlying document and according to Bank Policy
  • Administers multigenerational trusts, often with discretionary income and principal payments distributed among multiple family members while managing financial and compliance risks
  • Executes the terms of estate plans or documents for which Fifth Third Private Bank serves as Trustee, Executor, Personal Representative, Guardian or Agent, often exercising broad discretion regarding issues among and between beneficiaries with competing interests.
• Account Administration
  • Completes annual administrative account reviews and other compliance responsibilities.
  • Engages in fiduciary decision-making. Executes decision and manages financial risk in best interest of the clients.
  • Retains client base by adhering to established client contact standards and ensure the involvement of al team members, as necessary.
  • Works with IM&T Affiliate Support Center (IASC) to open and close accounts, process transactions, and maintenance accounts. Ensures proper documentation requirements are met to ensure compliance with Fifth Third Bank internal policies and procedures regarding client and asset acceptance and discretionary actions. *Works closely with Trust Tax Accountants to ensure proper tax reporting.
  • Oversees and ensures that all accounts, fees, statements, asset transfers, and internet set-up are complete and accurate.
• Sales/New Business
  • Acquires additional assets (account additions) from existing clients. Identifies other bank products and services to enhance and deepen existing client relationships, utilizing a Wealth Management Advisor, as necessary.
  • Interacts with sales force, in coordination with Portfolio Managers, to ensure a high quality client on-boarding experience into IM&T.
  • Communicates with clients and sales force through the entire on-boarding process from start to finish to set and exceed expectations.
• Other
  • Demonstrates sound decision-making skills, including balancing business risks to Fifth Third Bank with clients' best interests.
  • Seeks advice and counsel from Senior Trust Officers and Regional Fiduciary Executives when faced with challenging technical or relationship management situations, as necessary
  • Champions the Bancorp Vision and Core Values through personal actions
  • Recommends enhancements to policies and procedures, when appropriate
  • Continually develops and maintains knowledge of current trends and changes in the industry with regard to fiduciary matters (e.g. estate planning, probate, estate, gift and income tax planning, guardianships, special needs trusts, state-specific law), including attending forums, conferences, and/or meetings addressing such matters.
  • Participates actively in community affairs and professional associations.
• SUPERVISORY RESPONSIBILITIES:
  • Assists with supervision and training of Trust Associates and support staff.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Bachelor's degree preferred or related experience required.
• 5+ years experience in financial services.
• Effective client relationship skills and experience
• Demonstrates knowledge and skills in the areas of trust administration, estate planning strategies, and income, gift and estate tax matters.
• Demonstrates effective time management skills