The Trust Officer at Ameriprise Bank, FSB is an integral member of the Personal Trust team and works closely with internal team members in Trust Administration, Trust Investment and Trust Operations servicing assigned fiduciary personal trust and investment accounts for individual clients.
Ameriprise Personal Trust Officers work directly with Ameriprise Financial Advisors and their clients to administer client's trust accounts ranging from simple agencies to more complex trust accounts. Responsible for timely trust distributions, bill payment, tax reporting and annual account reviews. Knowledge and expertise of different trust arrangements including Irrevocable Family Trusts, Generation Skipping, ILITs, Charitable, IRAs is a must.
This role is responsible for the fiduciary administration of complex estate and personal trust accounts. Review and interpret Wills and Trust agreements. Confer with attorneys, financial advisors and clients regarding establishment, administration, distribution reviews and operation of trust accounts. Responsible for establishing and maintaining positive client relationships, quality customer service, and client retention.
This position will require excellent communication skills to work with Ameriprise advisors, trust beneficiaries and other trust power holders. Responsibilities
• Responsible for trust account servicing, including and ongoing account reviews, discretionary distribution reviews, relationship building with advisors, clients, and attorneys, assist in researching of legal issues, knowledgeable of state and federal statutes governing trust administration, and assist in interpreting and executing of actions as advised by governing documents including Wills, Trusts, Codicils, Amendments, FLP, Contracts, etc.
• Actively participate in Trust Administrative Sub-Committee meetings. Perform administrative account reviews annually.
• Accountable for servicing and retention of existing accounts.
• Supervise and monitor new account establishment and funding
• Work with advisors, internal trust team, attorneys, accountants, and family members to ensure timely and accurate estate settlement including: review document to assist in figuring out dispositive provisions, review/approve payment of final expenses, coordinate gathering of material/documents for the final income tax return and estate tax return, assist in settling other asset flow into trust/estate, ensure proper distributions made to beneficiaries, ongoing communication with beneficiaries and advisors, etc.
• Coordinate preparation of trust tax returns and Agency letters with accountant, address coding and other issues impacting preparation of returns, assist in the development of new policies and procedures to address improvements and changes, review tax returns for accounts administered, assist other team members to help ensure timely preparation and review of all returns is completed.
• Lead and/or participate in projects as a subject matter authority (e.g., IRA development, coordination with Financial Planning, system conversions, team process improvements etc.). Required Qualifications
• Bachelor's degree or equivalent.
• 5-7 years of relevant trust administration experience.
• Strong teammate who enjoys collaboration with internal partners
• Experience in handling trust relationships for wealthy families.
• Good written and oral communication skills.
• Ability to prioritize and follow through.
• Good analytical and problem-solving skills. Preferred Qualifications
• Previous work experience handling trust clients at a trust company or equivalent (law firm, family office group, foundation).
• CTFA, CFP, CFA or equivalent
• Trust investment knowledge and/or experience with brokerage and/or delivery of trust services through alternative channels About Our Company
With the right company, life can Be Brilliant®. At Ameriprise Financial, we're not just in the business of helping clients with their financial goals - we also help our advisors and employees reach their true potential by embracing an inclusive and collaborative culture. We celebrate the unique qualities and reward the contributions of our talented, passionate employees. The Banking and Cash Solutions team mission is to make life more rewarding by helping others achieve their goals and dreams by providing compelling product solutions and a seamless client experience. If you're motivated and want to work for a strong, ethical company that cares about you and your community, take the next step with Ameriprise Banking and Cash Solutions and we can Be Brilliant® together.
Ameriprise Financial is an equal opportunity employer. We consider all qualified applicants without regard to race, color, religion, sex, national origin, genetic information, age, sexual orientation, citizenship, gender identity, disability, veteran status, marital status, family status or any other basis prohibited by law.