Trust Operations Assistant

Merchants Bank; Winona (MN); On-site; USD 38,000 - 54,000; Full time

Benefits offered by this job

Health insurance

Dental insurance

Life insurance

Disability insurance

Vision insurance

Flexible spending accounts

401(k) plan and ESOP

Job summary

Merchants Bank in Winona seeks a Trust Operations Assistant to support day-to-day management of client accounts and deliver outstanding service.

Responsibilities include preparing new account documents, balancing accounts, processing distributions, handling tax information, and generating reports with accuracy and discretion.

The ideal candidate has strong Microsoft Office skills, effective communication, attention to detail, and a background in customer service or banking.

Qualifications

• High school diploma or equivalent. Post secondary degree preferred.
• Minimum of one year experience in customer service or related field required.
• Experience in financial, banking, accounting, legal or related industry preferred.
• Familiarity with investment, accounting, or bookkeeping concepts preferred.

Responsibilities

• Assist with day-to-day operations for trusts and investment accounts.
• Prepare new account documents and client correspondence.
• Balance accounts and process distributions and tax information.
• Provide exceptional customer service to clients.
• Assist with reporting and client meeting materials.
• Back up other team members as needed.

Skills

Customer service

Detail oriented

Organized

Effective communication

Numerical skills

Education

High school diploma or equivalent

Post secondary degree preferred

Tools

Microsoft Word

Microsoft Excel

PowerPoint

Microsoft Outlook

Job description

Merchants Bank, Winona, an opening for a Trust Operations Assistant. Hours are generally 8:00am 4:30pm Monday Thursday and 8:00am 5:00pm on Friday.

This position provides a variety of operational duties associated with trusts and investment accounts and giving exceptional customer service to clients. Duties also include preparing new account documents, managing client cash flows, balancing accounts, processing distributions, working with tax information and preparation and preparing reports.

Must have experience working with Microsoft Suite programs, able to communicate effectively, be detail oriented and organized, and have customer service experience. Familiarity with bookkeeping, accounting and investment concepts preferred. Post secondary degree preferred.

Merchants Bank offers competitive wages and benefits for our full-time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options.

Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Job Summary:

The primary role of the Trust Operations Assistant will be to assist with day-to-day operations associated with handling client accounts and delivering exceptional customer experience to clients.

Essential Responsibilities:

As directed by experienced trust personnel, assist with and complete administrative and operational tasks associated with trusts and investment accounts including but not limited to the following:

• Answer phones and serve as the first impression for communication with clients
• Handle departmental mail inflows and outflows
• Completion of internal documents, client correspondence, reports, and meeting minutes
• Assist in completion of internal reviews and reports
• Process and archive client documents and closed accounts
• Document account files following client interactions and meetings with Trust Officers
• Prepare new account documents for signature
• Set up new accounts and assist with collection of assets
• Assist with preparation of reports and client meeting materials
• Obtain tax identification numbers
• Verify vendor account statements and invoices
• Assist with regular balancing of accounts and reconciliations
• Work with spreadsheets, software systems, tickler systems, and electronic file transfer systems
• Handle state tax withholdings, tax ledgers, dividend reporting, contributions and distributions within investment accounts and transfers between accounts
• Assist with posting transactions and managing ACH payments
• Assist with monitoring and managing client account cash flows
• Process monetary distributions associated with client accounts and corresponding documentation
• Assist with collection of information for tax return preparation and coordinate tax filings
• Assist with management of securities movement between bank and securities custodian
• Assist with rebalancing investment accounts and trading as directed by Trust Officers
• Serve as back-up to other department team members
• Communicate with clients and refer or escalate to Trust Officers as appropriate
• Perform other duties as directed by Trust Department Manager, Trust Officers and other experienced personnel of the Trust Department.

Additional Expectations:

• Regular and dependable attendance
• Contribute to a positive work environment
• Greet internal and external customers in a friendly and outgoing manner
• Ensure internal and external customers receive outstanding service experiences
• Timely completion of appropriate online compliance module requirements

Skills and Abilities Required:

High school diploma or equivalent. Post secondary degree preferred. Minimum of one year experience in customer service or related field required. Experience in financial, banking, accounting, legal or related industry preferred. Familiarity with investment, accounting, or bookkeeping concepts preferred.

The ideal candidate will be detail oriented, organized, task driven, and good with numbers, calculations, cash flows, and balancing accounts. The ideal candidate will be able to manage time and work efficiently in a fast-paced environment. The ideal candidate will have an ability to solve problems and be able to work independently within a team environment. The ideal candidate will have excellent written and oral communication skills and be able to communicate clearly while interacting with customers. The ideal candidate will have strong computer and technical skills including use of Microsoft Word, Excel, Outlook, and PowerPoint. The ideal candidate must be able to recognize, protect and maintain the confidential nature of our client relationships.

Working Conditions:

Work is performed inside mostly at a desk or at a computer. Will have contact with customers, public, and co-workers, and is to conduct relationships in a manner that will enhance the professional image of the bank and Trust Department. Low noise level with no exposure to environmental hazards such as chemicals.

Physical Demands:

Work will be performed sitting at a desk; very low degree of lifting, generally not over 10 pounds in weight or pressure. Position will require average finger dexterity to operate normal office equipment, such as computer, scanner, phone, copier, etc.

Relationships:

Supervised by the Trust Department Operations Team Lead but will be expected to take direction from and work effectively with other senior personnel for fulfillment of functions and responsibilities.