Trust Officer

First Bank, Upper Michigan; Michigan; On-site; USD 75,000 - 110,000; Full time

Benefits offered by this job

Competitive compensation

Vision Insurance

Sick Time

Voluntary Benefits

Employee Assistance Program (EAP)

401(k) Retirement Savings Plan with...

Career growth & advancement

Job summary

First Bank, Upper Michigan seeks an experienced officer to oversee trust, estate, IRA and investment account administration, helping principals, beneficiaries and plan sponsors formulate financial goals and implement strategies.

You will strengthen client relationships, pursue business development for the Investment Management Group, and ensure compliance with trust policies while staying current on markets and tax matters.

Qualifications

• Background in trust or investment account administration and experience with sales and promotion.
• Professionalism and confidentiality must be maintained at all times.
• Willingness to pursue continuing education opportunities and obtain credentials as directed by management.

Responsibilities

• Establish, administer and close trust and investment accounts.
• Develop investment objectives and estate plans with clients.
• Analyze trust portfolios and report to committees.
• Meet with clients, beneficiaries, attorneys and tax professionals to discuss accounts and new business.
• Provide clients with statements, taxes and distributions information.
• Assist with estate settlement and trust administration duties.
• Prepare portfolio reviews and investment research material.
• Execute trades per account requirements and coordinate fixed income purchases.
• Participate in trust marketing and business development to grow market share.
• Maintain compliance with trust policies and applicable regulations.

Skills

Trust/account administration

Sales experience

Interpersonal skills

Organizational skills

Decision-making

Education

Bachelor’s Degree

Job description

Description

Responsible for trust, estate, IRA and investment account administration; assisting principals, beneficiaries and plan sponsors in formulating financial goals; and implementing and monitoring strategies designed to meet these goals. Officer is expected to strengthen existing client relationships and is responsible for business development efforts on behalf of the Investment Management Group.

• Ensure that trust and investment management accounts are properly established, administered and closed.
• Work with clients to develop investment objectives and estate plans.
• Analyze trust investment portfolios to determine duties and responsibilities of the IMG.
• Meet with clients, beneficiaries, attorneys, tax professionals and others regarding established accounts and possible new business.
• Provide clients with information and assistance regarding statements, taxes, remittances and distributions.
• Assume estate settlement and trust administrative duties.
• Prepare presentation material for portfolio reviews.
• Complete investment research and required committee reporting.
• Execute investment trades according to individual account requirements and specifications.
• Coordinate the purchase of fixed income investments for the officers of the IMG.
• Participate in trust marketing and business development efforts to increase market share (mailings, inactive files, etc.).
• Follow established trust policies and regulations to ensure proper compliance.
• Maintain knowledge of financial markets, tax law and investment offerings to provide professional advice.

Assume and accomplish other duties as directed or self-initiated.

Benefits:

• Competitive compensation
• Vision Insurance
• Sick Time
• Voluntary Benefits
• Employee Assistance Program (EAP)
• 401(k) Retirement Savings Plan with immediate eligibility and company match
• Career growth & advancement opportunities

Requirements

Requirements:

• Possess a background in trust or investment account administration, experience with sales and promotion and have strong interpersonal, organizational and decision-making skills.
• Professionalism must be exhibited and confidentiality respected at all times.
• Willingness to attend continuing education opportunities and obtain professional credentials, as directed by senior management.
• Bachelor’s Degree and 2-4 years of trust or comparable experience preferred.
• Investment certification or other professional credentials are preferred.

Work Environment:

This job operates in a professional office setting. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.

This is a full-time position. Days and hours of work are Monday through Friday 8:15 a.m. to 5:15 p.m. Occasional evening and weekend work may be required as job duties demand.

Physical Demands:

Position may require individual to perform repetitive motion in operating equipment such as keyboard, calculator or other bank/office-related machinery. While performing duties the employee may have to lift and/or move up to 25 pounds. Position requirements may be, but are not limited to, walking, standing, sitting, bending, talking, hearing and communicating. The physical demands are representative of those that must be met to successfully perform the essential functions. Reasonable accommodations may be made to enable individuals with disabilities to perform essential job functions.

Additional requirements:

• Valid driver’s license and ability to be insured required if driving.
• Position requires attendance at meetings.
• Some travel is expected for this position. However, travel is primarily local and during the business day.
• Employees are responsible for the upkeep/organization of their work area and in cooperation with others in shared areas.