VP or AVP Trust Operations Manager

Devon Bank; Chicago (IL); On-site; USD 90,000 - 140,000; Full time

Benefits offered by this job

Health insurance

Dental & Vision

Life insurance

401(k) plan

Voluntary benefits

Job summary

Devon Bank, an independent community bank serving the Chicagoland area, seeks a Manager of Trust Operations to oversee daily operations of the Trust and Wealth Management Department. You will handle recordkeeping, tax forms, fund reconciliations, and audit coordination, ensuring strong internal controls and timely reporting.

The role requires leadership to train staff, maintain GWES systems, and deliver accurate management reports while managing risk and compliance across the department.

Qualifications

• Bachelor’s Degree or equivalent; 3+ years in Trust Operations or Wealth Advisory Administration.
• Experience in trust securities, FDIC regulations, and banking/accounting functions.
• Proficient in Microsoft Office and quick to learn new software.
• Strong written and oral communication with strong client service focus.
• Ability to multi-task and meet deadlines with accuracy.

Responsibilities

• Balance and reconcile GWES system daily, monthly, and yearly.
• Supervise posting of security trades, income, and capital transactions.
• Reconcile assets with custodians, brokers, funds, and DRP.
• Set up new accounts on GWES; oversee asset collections.
• Produce customer statements and tax forms (1099, 5498).
• Coordinate tax returns with preparers and issue K-1 forms.
• Manage audits for Trust and Wealth Management.
• Provide year-end IRA statements and RMD notifications.

Skills

Client service orientation

Strong communication

Multi-tasking

Analytical skills

Learning agility

Education

Bachelor’s Degree or equivalent

Tools

GlobalWealth ES accounting software

Microsoft Office

Job description

Description

Devon Bank is an independent community bank serving the Chicagoland area and beyond. Our mission has always been to be the bank that the neighborhood needs—to tailor its service offerings to the needs and wants of the community. We are known for going the extra mile for our customers by offering personalized service and customized solutions. We are a full-service bank including home financing, trust and investments as well as a full range of business financing products.

Job Type

Full-time

Description

Devon Bank is an independent community bank serving the Chicagoland area and beyond. Our mission has always been to be the bank that the neighborhood needs—to tailor its service offerings to the needs and wants of the community. We are known for going the extra mile for our customers by offering personalized service and customized solutions. We are a full-service bank including home financing, trust and investments as well as a full range of business financing products.

The Manager of Trust Operations is responsible for the daily operations activities of the Bank’s Trust and Wealth Management Department including recordkeeping, documentation of trust account transactions, risk management oversight, and operations compliance.

Key Responsibilities

• Balance and reconcile GlobalWealth ES (GWES) system on a daily, monthly and annual basis. Ensuring accurate and timely processing of all trust operations transactions and activities.
• Supervise the posting of all security related trades, income processing, and capital structures transactions.
• Reconcile assets held at custodians, brokers, mutual funds and DRP agents.
• Set-up new accounts on GWES and oversee the collection of all incoming assets.
• Close accounts on GWES and oversee the delivery of all outgoing assets.
• Produce customer statements.
• Produce tax forms including 1099 and 5498 forms and tax files for electronic filing requirements.
• Coordinate with outside tax preparers to ensure tax returns are completed within filing requirement deadlines and K-1 forms are sent to the beneficiaries timely.
• Manage all department and bank audits, as it relates to the Trust and Wealth Management Department including production of audit packages and operations related audit requests.
• Produce year end IRA statements and distribution of IRA Required Minimum Distribution notifications
• Oversight of online trust portal interface and mobile applications.
• Train and supervise the Operations staff.
• Provide reliable data processing and systems support for the GWES Accounting platform and ensure that all systems related software is current and functional.
• Prepare management reports as assigned by the department head.
• Where necessary, report and take corrective action for any non-compliance incidents.
• Appropriately assess client and operational issues that need immediate attention and translate problems into practical solutions.
• Provide/maintain appropriate levels of internal controls to minimize possible client impact as well as reputation risk.
• Monitor and modify where necessary departmental policies and procedures, including the department Business Continuity Plan.
• Must work well both independently and in a team environment and have an ability to independently provide satisfying and cost-effective solutions.
• Other duties as assigned.

Requirements

• Bachelor’s Degree or equivalent from a four-year college. Three or more years of Trust Operations or Wealth Advisory Administration experience with at least two years in management or a supervisory capacity.
• Experience with all facets of trust securities, with strong knowledge of FDIC regulatory requirements, banking and accounting functions, including but not limited to trading, investments, reconciliations, demand deposit accounts and electronic fund transfers.
• Strong skills in Microsoft Office (Word, Excel, Outlook, etc.
• Must have the ability to learn new software applications quickly.
• Must have excellent oral and written communication skills and strong client service orientation.
• Must be able to multi-task and handle large volumes of work and an ability to meet stringent deadlines with accuracy and efficiency.
• Maintains personal composure and works effectively in deadline situations.
• Reliable and trustworthy, displaying a strong personal commitment to successfully completing all projects.
• Strong math skills – ability to apply concepts such as fractions, percentages, ratios and proportions to practical situations.
• Experience with GlobalWealth ES accounting software preferred.

Pay Range And Benefits

We are committed to providing pay and benefits that help employees stay healthy, supported, and prepared for the future.

Some Of These Include

• UnitedHealthcare (UHC) Medical coverage
• Dental and Vision coverage through Guardian
• Employer-paid Life Insurance, plus Short- and Long-Term Disability
• 401(k) with employer match
• Voluntary, employee-paid options such as legal coverage, accident insurance, pet insurance & more

$90,000 to $140,000 depending on experience

EOE AA - Devon Bank is proud to be an Equal Employment Opportunity and Affiantive Action employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

If you need assistance or an accommodation due to a disability, you may contact us at [e-mail] or you may call us at (773)- 465-2500.