Trust Officer II, Private Bank Center

Fifth Third Bank; Chicago (IL); Presencial; USD 71.000 - 146.000; Jornada completa

Descripción de la vacante

Fifth Third Bank's Private Bank Center in Cincinnati, OH seeks a Trust Officer II to manage a portfolio of personal trust, agency, IRA and custody accounts, including irrevocable trusts and complex fiduciary actions.

You will execute estate plans, collaborate with attorneys and CPAs, supervise junior staff, and ensure compliance, risk management and superior client service.

Formación

• Bachelor's degree preferred or related experience required.
• 8+ years experience in financial services, including at least 3 years of trust (fiduciary) or IRA experience.
• Strong client relationship skills and experience.
• Knowledge of fiduciary law and estate planning, or IRA regulations.
• Ability to manage time and multi-task in a fast-paced environment.
• Excellent interpersonal communication and problem-solving skills.

Responsabilidades

• Coordinate fiduciary services for a portfolio of Personal Trust accounts.
• Review and approve discretionary actions for irrevocable trusts according to trust documents and bank policy.
• Administer multigenerational trusts with discretionary income and principal payments across family members.
• Execute the terms of estate plans as Trustee, Executor, Personal Representative, Guardian or Agent with discretion.
• Maintain assigned client base and deliver high levels of service and client contact standards.
• Complete annual administrative account reviews and other compliance responsibilities for complex accounts.
• Engage in fiduciary decision-making and manage financial risk in clients' best interests.
• Work with IM&T Affiliate Support Center to open/close accounts and process transactions.
• Ensure proper tax reporting with Trust Tax Accountants and accurate account documentation.

Conocimientos

Trust administration

Estate planning

Fiduciary law

Relationship management

Time management

Interpersonal skills

Analytical skills

Multi-tasking

Educación

Bachelor's degree or related experience

Descripción del empleo

GENERAL FUNCTION

The Trust Officer II (PBC) is a member of the Private Bank Center (PBC) and is responsible for the administration of a variety of more complex personal trust accounts requiring execution of the bank’s fiduciary responsibilities for trust accounts and administering agency, IRA, and custody accounts, with book revenue exceeding approximately $1.5 million. Work with private bank clients' in executing estate plans, which may include the use of multiple accounts, multiple beneficiaries, insurance, and the use of tax deferral techniques. The strategic focus of the PCS TO II is the execution of the terms of any document in which Fifth Third Bank serves as trustee, executor, and agent for a fiduciary. Target size of book: 150 - 300 accounts, depending on account type concentration (e.g., complex personal trust accounts versus 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

• Coordinates fiduciary services for a portfolio of Personal Trust accounts, consisting of mostly of trusts, but also some agency, IRA, and custody accounts.
• For irrevocable trusts, reviews, supports, and approves or declines discretionary action requests, including distributions in accordance with the underlying trust documents 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
• Retains assigned client base by working with the client service team to deliver the highest level of service and client contact standards.

Account Administration

• Completes annual administrative account reviews and other compliance responsibilities for more complex accounts, including irrevocable trusts for which the Bank serves as trustee.
• Engages in fiduciary decision-making. Executes decisions and manages financial risk in best interest of the clients.
• 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

• Collaborates with clients’ external centers of influence (i.e. attorneys, CPAs) so as to potentially obtain referrals from our existing client base.
• Acquires additional assets (account additions) from existing clients.
• Identifies other bank products and services to enhance and deepen existing client relationships, utilizing an 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 Specialists and Associates and other support staff.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED

• Bachelor's degree preferred or related experience required.
• 8+ years experience in financial services, including at least 3 years of trust (fiduciary) or IRA experience.
• 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.
• Comprehensive knowledge of fiduciary law and estate planning, or IRA regulations; and an understanding of Bank policies, procedures and operations.
• Demonstrates effective time management skills and the ability to multi-task and prioritize work.
• Exhibits strong interpersonal communication skills.
• Uses effective problem solving and analytical skills.
• Demonstrated ability to perform in a fast-paced team environment, working with experienced professionals from multiple disciplines to deliver high quality client service.

Trust Officer II, Private Bank Center

Total Base Pay Range 71,100.00 - 145,900.00 USD Annual

In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.

Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.

LOCATION

Cincinnati, Ohio 45202

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.