Trust Officer - Personal Trust Services, Ameriprise Bank, FSB
This position will administer a book of trusts ranging from simple agencies to more complex accounts and work directly with financial advisors and trust clients to create, enhance, and expand their relationship with Ameriprise through the use of Personal Trust offerings.
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, discretionary 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 a self-motivated person who is comfortable communicating with Ameriprise advisors, trust beneficiaries and other trust power holders. Responsibilities
• Responsible for overall trust account servicing, including initial 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 directed by governing documents including Wills, Trusts, Codicils, Amendments, FLP, Contracts, etc. Actively participate in Trust Administrative Sub-Committee meetings. Perform administrative account reviews annually.
• Work with advisors, attorneys, accountants, and family members to ensure timely and accurate estate settlement including: review document to assist in determining 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 determining if other assets flow into trust/estate, ensure proper distributions made to beneficiaries, ongoing communication with beneficiaries and advisors, etc.
• Assist in the sales process for Personal Trust; review and analyze documents, propose changes, provide legal research as necessary, oversee and monitor account establishment and funding. Actively participate in Trust Administrative Sub-Committee meetings to discuss new business, terminations, discretionary distributions, and other issues as necessary.
• 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 enhancements and changes, review tax returns for accounts administered, assist other team members as necessary to help ensure timely preparation and review of all returns is completed.
• Lead and/or participate in projects as a subject matter expert (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.
• Self-motivated with good written and oral communication skills.
• Strong organizational skills and attention to detail.
• Ability to prioritize and follow through.
• Good analytical and problem-solving skills. Preferred Qualifications
• Degree focus in Taxation, Probate, Trust Law, Real Estate Law, Estate Planning, or paralegal studies preferred. Advanced degree preferred (e.g. MBA, JD, etc.)
• CTFA, CFP, CFA
• Trust investment background and/or experience with brokerage and/or delivery of trust services through alternative channels