Trust Administrator

Hemenway Trust Company LLC; Salem (NH); On-site; USD 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a Trust Administrator to manage the opening of new accounts and support operational processes. This role involves coordinating client transactions, ensuring compliance with company guidelines, and maintaining client files. With a focus on trust administration, candidates should have a Bachelor's degree and at least seven years of relevant experience. The position requires strong organizational skills and the ability to communicate effectively with various stakeholders. Join a dynamic team committed to providing exceptional wealth advisory services in a supportive and inclusive environment.

Qualifications

• 7+ years of trust administration experience including knowledge of trusts and estates.
• Ability to organize tasks and communicate effectively with partners and staff.

Responsibilities

• Coordinate opening new trust, retirement, and investment accounts.
• Review documentation and support audit processes for client files.

Skills

Trust Administration Knowledge

Interpersonal Skills

Organizational Skills

Judgment and Mental Effort

Education

Bachelor's Degree

Tools

Database Software

Spreadsheet Software

Word Processing Software

Job description

The Trust Administrator has the administrative responsibility for opening new accounts, working with Account Managers to administer the accounts, coordinating client transactional activity, supporting the audit and exam processes, overseeing the closing of accounts.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Coordinates all aspects of opening new trust, retirement, and investment accounts. Drafts new account documentation and prepares materials for client review and signature. Analyzes trust instruments and other documents to determine appropriate setup of new accounts. Regularly communicates with Account Managers and other personnel to review all pertinent information and manages the transfer of assets among relevant parties. Processes receipt of new assets into accounts.
• Reviews and collects documentation necessary for the proper maintenance of client files in accordance with Company Guidelines. Provides reports of client file documentation status to Director of Operations & Administration.
• Reviews and communicates all approved trades and disbursements for New Hampshire accounts under management to Third Party Administrative Partner (currently Hemenway & Barnes LLP).
• Works with the Account Manager to provide timely documentation for Annual Account Reviews to be included in Trust Committee Meetings.
• Closes accounts and distributes assets following established policies and procedures. Coordinates distribution of securities or cash on closing. May prepare complex transactions for outgoing trusts. Reviews account before final closing on system, confirming completion of process with Account Manager.
• Supports the Director of Operations and Administration with Committee Meeting follow-up items as directed by the members of the Committees.
• Attends and completes all educational and compliance update coursework required by the Company.
• Adheres to all Company’s policies and procedures as set forth, and amended from time to time, in the Company’s Policy and Procedure Manual.
• Assumes additional responsibilities as requested by the Account Managers and Director of Operations & Administration.

KEY QUALIFICATIONS:

• Knowledge of trust administration at a level normally acquired through completion of a Bachelor’s Degree or equivalent.
• Seven or more years of related trust administration experience including knowledge of trusts, estates, and fiduciary and individual tax requirements.
• Ability to organize and prioritize numerous tasks and complete them under time constraints.
• Interpersonal skills necessary in order to communicate with partners, attorneys, and staff, in person and by phone, and provide information and "customer service" with ordinary courtesy and tact while safeguarding confidentiality.
• Work occasionally requires a high level of judgment, mental effort, and/or strain when performing essential duties. Must be able to perform the essential duties of the position with time constraints, interruptions, and stressed attorneys and staff.
• Ability to use database software, spreadsheet, and word processing software and equipment to complete analysis and reports.
• Work occasionally requires more than 35 hours per week to perform the essential duties of the position.

ABOUT HEMENWAY TRUST COMPANY LLC:

Hemenway Trust Company LLC is a limited liability trust company chartered in New Hampshire as a non-depository trust company and regulated by the New Hampshire Banking Department. As a private trust company, HTC provides a full range of wealth advisory and management services to families and individuals of means.

Hemenway Trust Company is an Equal Opportunity Employer. We do not discriminate based on race, religion, color, national origin, sexual orientation, gender identity, age, veteran status, disability status, or any other applicable characteristics protected by law.

We encourage applications from a diverse pool of candidates and base employment decisions on business needs, job requirements, and individual qualifications.

We support an inclusive workplace and are committed to creating a welcoming environment for all employees.

TO APPLY:

If you possess the skills and credentials we are looking for, please submit your resume and cover letter, in strict confidence, for consideration to [e-mail]

Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Finance and Sales

Industries

Investment Management