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Associate Trust Officer

Expired Job

Fifth Third Bank Cincinnati , OH 45201

Posted 2 months ago

This role is designed to be a temporary position. Associate Trust Officers are expected to spend 12-24 months enhancing the technical, operational, and relationship management skills necessary for promotion to the Trust Officerpositionandtheassumptionof increased sales and revenue targets.

GENERAL FUNCTION:

.Partner with the Senior Trust Officer to service his/her client base to ensure greater client satisfaction and retention.

.Serve as primary relationship manager and fiduciary advisor for clients with more than $500,000 in investable assets and support a book of accounts having an asset base of between $25,000,000 and $100,000,000.

.On behalf of Fifth Third Bank as Trustee, Agent or Custodian, understand and administer a range of fiduciary accounts in accordance with the terms of their governing documents. A typical client may have one or moreofthefollowing:multigenerationaltrusts, multiple residences, gifting requirements, challenging family dynamics, litigation concerns, interaction with multiple co-trustees as well as family and professional advisors, closely-heldbusinessinterests,multi-layered stockoptions,significant retirement assets, charitable trusts or a private foundation.

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 thatactions 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.

DUTIES AND RESPONSIBILITIES:

.Client Service

  • Coordinate fiduciary services for approximately 30 client relationships

  • Administer multigenerational trusts, often with discretionary income and principal payments distributed among multiple family members, while managing financial risk

  • Execute the terms of any estate plan or documents in which Fifth Third Private Bank serves as Trustee, Executor, Personal Representative, Guardian or Agent for Fiduciary, often exercising broad discretion for beneficiaries with competing interests

  • Actively participate with the Private Bank client service team to develop, interpret, communicate and facilitate a range of estate planning matters as part of the advice-based solutions presented to the clients

  • Retain client base by working with the client service team and partnering with internal and external service providers to optimize effectiveness and efficiency in achieving the highest client service standards

  • As either the primary fiduciary contact or the support for a Senior Trust Officer, resolve client issues

  • Challenge and collaborate with client to articulate and achieve goals

  • Collaborate with the client's advisors, including attorneys and accountants, to develop and implement a comprehensive wealth plan

  • Ensure a smooth transition as the client moves among service models

.Account Administration

  • Complete annual administrative account reviews

  • Provide necessary maintenance/interface for trust accounting system

  • Review and ensure the quality of the daily account activity in the IA Workflow System

  • Ensure compliance and proper documentation requirements are met, consistent with internal fiduciary policies and procedures regarding business and asset acceptances, discretionary actions, and all other bank policies, procedures and guidelines

  • Work closely with Trust Tax Accountants to ensure proper tax reporting

  • Work with IASC to open and close accounts; process additions to and distributions from accounts

  • Frequent interaction with various operations teams within the Bank

.Sales

  • Achieve an individual annual sales target of $25,000, depending upon experience level, and annual recurring fee revenue in excess of $300,000

  • Receive referrals from clients, internal business partners and Centers of Influence (COIs)

  • Identify opportunities and partner with Senior Trust Officers, WMAs, internal business partners and COIs in the sales process to maximize new business opportunities

  • Actively participate in the Life360 Process to identify and provide appropriate products, services, and cross-selling opportunities

  • Acquire additional assets (account additions) from existing clients

  • Assists with preparation of marketing proposals and materials

  • Demonstrate client contact and relationship management skills, including the development of targeted business plans

  • Utilize and ensure prospect/client information is appropriately entered, updated, and managed in the CRM tracking system

.Other

  • Demonstrate sound decision-making skills, including balancing business risk to Fifth Third Bank with client interests

  • Demonstrate a sense of urgency for client service and completion of projects/tasks

  • Work with multiple officers and managers and balance competing priorities

  • Champion the Bancorp Vision and Core Values through personal actions

  • Recommend enhancements to policies and procedures

  • Develop 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 laws)

  • Attend community and/or industry-specific forums, conferences and meetings in order to broaden relationships, network and continually deepen knowledge of trends, practices, products and competitors

Participate actively in community affairsandprofessionalassociations

Supervisory Responsibilities:
None

KNOWLEDGE & SKILLS REQUIRED:

.Bachelor's degree required; graduate degree (e.g. JD or MBA) or professional licenses (e.g. CTFA, CFP, CPA) preferred

.Minimum of 2 years of demonstrated fiduciary sales/client service success preferred

.Demonstrate basic knowledge and skills in the areas of trust administration, estate planning strategies and income, gift and estate tax matters

.Demonstrate a basic understanding of financial markets and investment theory

.Operate effectively in an environment that stresses both individual accountability and team-based performance

.Exhibit strong interpersonal communication skills

.Demonstrate interpersonal negotiation, verbal and written communication and presentation skills

.Use effective problem solving and analytical skills

.Provide professional presence within professional and community organizations

.Desire a fast-paced team environment, working with experienced professionals from multiple disciplines to deliver high quality client service

.Strong computer/technical skills required: Ability to use all Microsoft Office software including: Word, Excel, PowerPoint, Outlook and Access

WORKING CONDITIONS:

.Normal office environment with little exposure to dust, noise, temperature and the like

.Extended viewing of CRT screen


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Associate Trust Officer

Expired Job

Fifth Third Bank