Senior Relationship Administrator

KMA Human Resources Consulting; Portland (ME); Hybrid; USD 70,000 - 80,000; Full time

Benefits offered by this job

Health coverage

Dental coverage

Vision coverage

Hybrid work schedule

401k and ESOP

Free parking near office

Business casual dress code

Annual salary reviews

Career growth and autonomy

Job summary

Spinnaker Trust in Portland, ME is seeking a Senior Relationship Administrator to administer assigned accounts and ensure compliance with governing instruments, applicable laws, and internal policies. You will maintain direct client contact and collaborate with team members while evaluating administrative issues and escalating matters as needed.

The role offers a competitive salary with a generous bonus, hybrid schedule, health/dental/vision coverage, ESOP and 401(k), and opportunities for

Qualifications

• Minimum 5 years in a related field at an investment advisory firm, trust company, or bank trust department.
• Excellent oral and written communication with colleagues, clients, and outside professionals.
• Ability to work with clients and beneficiaries with varying personalities and emotions.
• Experience with software such as Black Diamond Trust, Fidelity, Schwab, SharePoint, Tamarac.
• Knowledge of trusts, retirement plans, and administration; CTFA or similar preferred.

Responsibilities

• Coordinate opening of personal, retirement, entity, and trust accounts.
• Coordinate closures and asset distributions on custodial platforms in a timely manner.
• Work with operations to ensure asset and cost basis information is received.
• Perform annual admin reviews of personal and IRA accounts for compliance.
• Oversee and implement daily/monthly/annual account transactions (deposits, disbursements, RMDs, gifts).
• Ensure tax coding and transaction descriptions are correct.
• QC all disbursements from assigned accounts.
• Calculate, distribute, track and communicate RMDs to clients.
• Assist with 1040 tax estimate payments and handling.
• Collaborate with tax team on distribution of tax forms (K-1s, 1099s) and related requests.

Skills

Communication skills

Client management

Attention to detail

Confidentiality

Education

CTFA designation preferred

Tools

Black Diamond Trust

Fidelity

Charles Schwab

SharePoint

Tamarac

Job description

Spinnaker Trust / Senior Relationship Administrator / Portland, ME

We are working with our client, Spinnaker Trust in seeking a Senior Relationship Administrator, to be based in the Portland office. Spinnaker Trust offers financial planning, trustee services, investment management and administration of Employee Stock Ownership Plans. Spinnaker Trust has been named to the list of Best Places to work in Maine for the past 5 years.

Job Summary

Administers assigned accounts to support account objectives and to ensure compliance with account objectives, governing instruments, applicable laws and regulations, and Spinnaker Trust’s policies and procedures. The position maintains direct contact with clients and related parties and works collaboratively with team members while independently evaluating administrative issues, identifying appropriate next steps, and escalating matters where appropriate.

What We Offer

• Annual salary of $70,000-80,000 dependent upon experience
• Generous annual bonus opportunity based on individual, team, and company performance
• Health coverage, dental and vision coverage through a flex plan
• Hybrid work schedule (3 office days, 2 work from home days per week)
• Two retirement plans (401k and ESOP)
• Free parking near office in Portland
• Business casual dress code
• Annual salary reviews
• A collaborative team and a fun work environment with plenty of autonomy and career growth

Qualifications

• Minimum of 5 years’ experience in a directly related field at an investment advisory firm, trust company, trust and estate department of a law firm, or bank trust department
• Excellent oral and written communication skills, including the ability to communicate independently and professionally with colleagues, clients and outside professionals.
• Ability to work with clients and beneficiaries with varying personalities and emotional states (illness, death, for ex.)
• Experience in a multitude of software products, such as Black Diamond Trust, Fidelity, Charles Schwab, SharePoint, Tamarac
• Strong attention to detail and accuracy, together with the ability to identify exceptions, assess risk and determine appropriate next steps
• Customer service, diplomacy, adherence to strict confidentiality policies
• Knowledge of and have the ability to learn about various kinds of trusts, retirement plans and administration
• CTFA or other advanced designation preferred or investment firm experience

Responsibilities and Scope

• Coordinate the opening of personal, Retirement accounts, entity accounts and trust accounts
• Coordinate the closure of accounts including ensuring paperwork is received, distributing assets and closing accounts on the appropriate custodial platform in a timely and professional manner
• Work with operations team to ensure all anticipated assets and cost basis information are received
• Perform annual administrative reviews of assigned personal and IRA accounts for compliance purposes.
• Oversee and implement general daily/monthly/annual account transactions (deposits, disbursements, RMDs, gifts, etc.)
• Ensure that tax coding and transaction descriptions are correct
• QC all disbursements from accounts assigned to the Relationship Administrator
• Accurately calculate, distribute, track and communicate with clients on RMDs
• Assist with 1040 tax estimate payments and handling
• Work with the tax team to ensure proper distribution of tax forms including K1s and 1099s as well as responding to requests from outside accountants and Trust FTC.

Spinnaker Trust was founded in 2001 and works with families and institutions offering financial planning, trustee services, investment management and administration of Employee Stock Ownership Plans (ESOP). Spinnaker Trust has been named to the list of Best Places to work in Maine for the past 5 years!

Spinnaker Trust is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, ancestry, familial status, age, physical or mental disability, pregnancy, sexual orientation, gender identity, genetic information, veteran status, or any other characteristic protected by law.