Senior Trust Officer And Fiduciary Services Manager

Job Description

First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.

This Senior Trust Officer and Fiduciary Services Manager is responsible for the primary management of a team of fiduciary services staff, as well as a book of fiduciary and investment management accounts for high-net-worth individuals and multi-generational trusts. This individual will assume primary responsibility for client satisfaction by directing and coordinating bank resources to ensure prompt delivery of quality service.

DUTIES & RESPONSIBILITIES:

• Directly manage the daily activities of a team of Wealth Management employees, coordinating and prioritizing requisite duties and daily assignments while appraising employee productivity and performance. Monitor staff attendance, work standards, and adherence to company policies. Compose and deliver performance evaluations.

• Responsible for employee hiring, training, staff development, timecard approval, scheduling, and direct assistance with coverage of daily workloads when needed. Facilitate the cross training of staff to ensure that all shifts have adequate coverage at all times.

• Foster a team environment to enhance productivity. Mentor team by providing actionable advice and insight.

• Assure customer service standards are followed consistently by all staff.

• Develop, implement, and enforce policies and procedures for trust administration. Ensure compliance by developing and delivering training sessions and materials to efficiently and comprehensively educate both new and existing employees to mitigate risk for the bank and maximize departmental efficiency.

• Meet or exceed individual and group retention and sales goals.

• Arrange and conduct client meetings, maintain regular contact with high net worth clients in accordance with established standards of service.

• Provide expert guidance on complex trust structures, estate tax planning, charitable giving, and other wealth transfer strategies.

• Support the Chief Fiduciary Officer in execution of the Fiduciary strategic plan to manage and grow Fiduciary relationships.

• Serve as the subject matter expert on the administration of complex trust accounts, ensuring compliance with legal and regulatory requirements

• Conduct annual investment update meetings with the Investment Officer, if needed.

• Demonstrate a sense of urgency, adhere to deadlines, and effectively manage multiple projects.

• Develop new business by recognizing and capitalizing on opportunities to enhance and expand relationships with new and existing clients, prospects and centers of influence.

• Interact with bank partners and clients' external advisors to promote ongoing communication.

• Serve as an active member of any committee to which assigned and attend all required meetings.

• Monitor all account activity by reviewing and responding to daily transactions, cash and overdraft reports, ticklers.

• Maintain documentation of all client contacts including routine formal correspondence with client confirming discussions and action.

• Assure relationship profitability by monitoring service levels, fee revenue, and the assessment of additional fees for extraordinary services rendered.

• Perform all duties and functions in accordance with applicable policies and procedures including timely completion of all required administrative reviews, court accountings and required compliance documentation.

• Monitor all required payments and notices, making sure that the terms and provisions of the trust agreement (accounting to beneficiaries, entitlement of assets upon reaching a particular age, etc.) are complied with.

• Use judgment to allow or deny discretionary distribution requests in accordance with the terms of the trust and procedures of First American Bank.

• Prepare and present discretionary distribution requests for the Fiduciary Committee when such requests exceed the discretion of the officer.

• Review of fiduciary income tax returns for assigned accounts, preparation and distribution of necessary reports and information for outside accountants for income tax return preparation and coordination of resolution of issues with tax preparers.

• Stay current with changes and trends in trust administration, investments and the trust and financial services industry.

• Participate in activities and projects that enhance the group.

• Conduct and complete additional assignments/projects as designated by management.

QUALIFICATIONS

• Bachelor's degree with emphasis in finance, accounting, business or other related area. CTFA required. JD or CPA preferred

• Minimum ten years in trust administration, estate planning or related field.

• Knowledge of trust and estate administration, investments, estate planning, tax, legal, insurance, and banking products is required.

• Demonstrated ability to use critical thinking to mitigate risk.

• A history of academic and/or professional success with a persistent desire for professional development and a proven track record of achieving results.

• Must be professional, comfortable speaking with external and internal contacts with a demonstrated ability to effectively tailor the message appropriately to the audience and situation.

• Demonstrated ability to convey thoughts and ideas effectively and succinctly via written formats, including emails, letters, and electronic platforms. Maintain professional standards relating to spelling and grammar.

• Maintain credibility through professional demeanor, appearance, and presence by modeling standards appropriate to our environment and industry.

• Maintain good working relationships with internal partners by exhibiting exemplary interpersonal skills, adopting a constructive, solutions-focused approach.

• Use sound professional judgment to balance the interests of the organization and customer, understanding and using available resources to mitigate risks.

• Proficiency with Microsoft 365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.

• Experience with Trust Accounting Systems preferred.

• Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows resulting from system upgrades.

• This position requires regular travel by car to various locations throughout the Bank's Chicago market. Occasional out-of-state travel may be required.

• Typical hours are Monday through Friday 8:00 a.m. to 5:00 p.m. Additional hours may be required depending upon business need.

Responsibilities First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations. This Senior Trust Officer and Fiduciary Services Manager is responsible for the primary management of a team of fiduciary services staff, as well as a book of fiduciary and investment management accounts for high-net-worth individuals and multi-generational trusts. This individual will assume primary responsibility for client satisfaction by directing and coordinating bank resources to ensure prompt delivery of quality service. DUTIES & RESPONSIBILITIES:

• Directly manage the daily activities of a team of Wealth Management employees, coordinating and prioritizing requisite duties and daily assignments while appraising employee productivity and performance. Monitor staff attendance, work standards, and adherence to company policies. Compose and deliver performance evaluations.

• Responsible for employee hiring, training, staff development, timecard approval, scheduling, and direct assistance with coverage of daily workloads when needed. Facilitate the cross training of staff to ensure that all shifts have adequate coverage at all times.

• Foster a team environment to enhance productivity. Mentor team by providing actionable advice and insight.

• Assure customer service standards are followed consistently by all staff.

• Develop, implement, and enforce policies and procedures for trust administration. Ensure compliance by developing and delivering training sessions and materials to efficiently and comprehensively educate both new and existing employees to mitigate risk for the bank and maximize departmental efficiency.

• Meet or exceed individual and group retention and sales goals.

• Arrange and conduct client meetings, maintain regular contact with high net worth clients in accordance with established standards of service.

• Provide expert guidance on complex trust structures, estate tax planning, charitable giving, and other wealth transfer strategies.

• Support the Chief Fiduciary Officer in execution of the Fiduciary strategic plan to manage and grow Fiduciary relationships.

• Serve as the subject matter expert on the administration of complex trust accounts, ensuring compliance with legal and regulatory requirements

• Conduct annual investment update meetings with the Investment Officer, if needed.

• Demonstrate a sense of urgency, adhere to deadlines, and effectively manage multiple projects.

• Develop new business by recognizing and capitalizing on opportunities to enhance and expand relationships with new and existing clients, prospects and centers of influence.

• Interact with bank partners and clients' external advisors to promote ongoing communication.

• Serve as an active member of any committee to which assigned and attend all required meetings.

• Monitor all account activity by reviewing and responding to daily transactions, cash and overdraft reports, ticklers.

• Maintain documentation of all client contacts including routine formal correspondence with client confirming discussions and action.

• Assure relationship profitability by monitoring service levels, fee revenue, and the assessment of additional fees for extraordinary services rendered.

• Perform all duties and functions in accordance with applicable policies and procedures including timely completion of all required administrative reviews, court accountings and required compliance documentation.

• Monitor all required payments and notices, making sure that the terms and provisions of the trust agreement (accounting to beneficiaries, entitlement of assets upon reaching a particular age, etc.) are complied with.

• Use judgment to allow or deny discretionary distribution requests in accordance with the terms of the trust and procedures of First American Bank.

• Prepare and present discretionary distribution requests for the Fiduciary Committee when such requests exceed the discretion of the officer.

• Review of fiduciary income tax returns for assigned accounts, preparation and distribution of necessary reports and information for outside accountants for income tax return preparation and coordination of resolution of issues with tax preparers.

• Stay current with changes and trends in trust administration, investments and the trust and financial services industry.

• Participate in activities and projects that enhance the group.

• Conduct and complete additional assignments/projects as designated by management. QUALIFICATIONS - Bachelor's degree with emphasis in finance, accounting, business or other related area. CTFA required. JD or CPA preferred

• Minimum ten years in trust administration, estate planning or related field.

• Knowledge of trust and estate administration, investments, estate planning, tax, legal, insurance, and banking products is required.

• Demonstrated ability to use critical thinking to mitigate risk.

• A history of academic and/or professional success with a persistent desire for professional development and a proven track record of achieving results.

• Must be professional, comfortable speaking with external and internal contacts with a demonstrated ability to effectively tailor the message appropriately to the audience and situation.

• Demonstrated ability to convey thoughts and ideas effectively and succinctly via written formats, including emails, letters, and electronic platforms. Maintain professional standards relating to spelling and grammar.

• Maintain credibility through professional demeanor, appearance, and presence by modeling standards appropriate to our environment and industry.

• Maintain good working relationships with internal partners by exhibiting exemplary interpersonal skills, adopting a constructive, solutions-focused approach.

• Use sound professional judgment to balance the interests of the organization and customer, understanding and using available resources to mitigate risks.

• Proficiency with Microsoft 365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.

• Experience with Trust Accounting Systems preferred.

• Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows resulting from system upgrades.

• This position requires regular travel by car to various locations throughout the Bank's Chicago market. Occasional out-of-state travel may be required.

• Typical hours are Monday through Friday 8:00 a.m. to 5:00 p.m. Additional hours may be required depending upon business need.