Sr Trust Operations Associate

About Us

Are you someone who seeks opportunity and has a true desire to grow your career with an organization that has enriched the lives of its clients and communities in the Greater Washington region for more than 150 years? If so, Sandy Spring Bank may be the perfect fit for you!

Sandy Spring Bank is a growing financial services company focused on creating real experiences for our employees, clients, shareholders and communities. We are proud to have been certified as A Great Place To Work, recognized by The Washington Post and the Baltimore Sun as a Top Workplace, by Forbes magazine as the #1 Bank in Maryland. It is our employees who play an integral role in shaping who we are as a company and upholding what matters most to us: people and relationships.

To help us attract the highest quality individuals, we offer a comprehensive benefits package to those who qualify. We offer competitive market salaries, paid time off, multiple retirement savings options, full health care options, life insurance, health care and dependent care flexible spending accounts, career development opportunities, tuition assistance and volunteer opportunities. We are proud to offer those, and so much more, making Sandy Spring Bank a remarkable place to work and build a career.

About the Job

About The Job:

Sandy Spring Bank is currently recruiting for a Senior Trust Operations Associate. The Senior Trust Operations Associate is responsible for performing a wide variety of tasks such as opening and closing of accounts; free receipts and delivery of assets; routine operational balancing and reconciliation of accounts and assets; resolution of transactions and custody exceptions and thorough understanding of the Trust Accounting System.

Assists with IRA and tax processing. Provides support to the administrative and investment management teams.

MAJOR JOB ACCOUNTABILITIES

• ACCOUNT OPENING AND CLOSING - 30%

New Account Opening and Funding

Opens new accounts on Trust Accounting System

Reviews transfer documents and prepare paperwork to be delivered to brokers, transfer agents and other parties; responsible for obtaining and recording cost basis and acquisition date information; posts free receipts of assets to accounts in Trust Accounting System; monitors receipts of securities and follows up with broker/fund company.

Adds and maintains cusip numbers on Trust Accounting System.

Closed Accounts

Responsible for the transfer of assets for closed accounts. Reviews and processes the requests for delivery of assets to other institutions. Posts free delivery of assets to Trust Accounting System.

Close account on Trust Accounting System

• PROCESSING AND CONTROL - 20%

Receipts and Disbursements

Processes and posts incoming checks, wires and ACH deposits.

Assists with bill paying functions

Trades and Income Processing

Assists with settlement of trades and income posting.

Processes money market trades, reconciles balances and accruals.

Fee calculation and collection

Set up new fee schedules; reviews fee set up on new accounts; fee calculation worksheets and post fees. Post entries to trust accounting system and general ledger accounts.

• SYSTEMS ADMINISTRATION & TAX PROCESSING - 20%

Performs system administration duties to include system design upgrades. Configures supported applications and support administration and reporting as required.

Tests new features before and after implementation to insure quality standards are met. Assists staff with systems problems or questions. Acts as bank liaison with vendors to manage all client support issues. Reviews night work process daily to ensure that all jobs were completed

Assists with tax processes to include 1099 processing; electronic filing of monthly state and federal withholding; fiduciary and individual tax return filing; payment remittances. Other responsibilities may include assembling, filing, scanning and tracking of all tax returns, estimates and extensions.

Assists with EFile authorization forms from clients; copy, print/assemble and distribute tax returns; reviews electronically-submitted returns and instruction sheets for accuracy; handles 3rd party and client requests for tax and financial information. Reviews new accounts on Trust Accounting System to ensure that the correct information is entered for tax processing.

• REPORTING - 15%

Files and processes class action claims

Weekly TDA calculation

Creates and files various reports to include: 13F report, RCT report, TDA (money market) collateral report and other reports as needed by management

Transmits electronic files

Prepares estate valuation reports as needed

• TRUST DEPARTMENT SUPPORT - 15%

Provides backup for Operations staff

Functions as a technical resource to members of the Trust unit

Responds to questions and requests promptly. Works in cooperation with the Trust team and other partners to resolve questions, complaints, or errors.

Works to resolve any client or operational issues proactively and diplomatically. Mentors more junior team members

Provides assistance to Compliance Officer as needed

Required Skills

KNOWLEDGE, SKILLS, AND ABILITIES:

1.Work requires 5 years or more in Trust Operations. Knowledge of tax processes to include Fiduciary income taxes and Required Minimum Distributions is required.

Familiarity with trust products and trust accounting is required. Strong aptitude for math and attention to detail is required. A BA in Accounting or Finance is helpful.

2.Experience using standard pc and business related application software such as Word PowerPoint and Excel are necessary. Strong computer skills with specific business application programs are essential.

Accuracy and attention to details is an absolute necessity. Candidate should be self-reliant and a self-starter. Position involves accessing and handling confidential information which requires the use of tact and discretion.

3.Problem solving skills to find solutions to problems that are technically complex and require collection, interpretation, and analysis of data from diverse sources is required at this level. Situations may require operational knowledge of various units and usually involves human, technical, and/or administrative problems.

4.Requires regular contact with diverse groups internally and externally in furnishing and obtaining information which requires some cooperation. Interpersonal skills needed to maintain positive rapport within the organization.

5.Work is under occasional supervision where independent judgment is sometimes required in the interpretation of existing policies and procedures and the guidelines are limited.

SPECIFIC PHYSICAL REQUIREMENTS:

Work requires reasonable mobility in and around the work area. Ability to use standard computer and phone systems is required

WORKING CONDITIONS:

Normal office environment where there is almost no discomfort due to temperature, dust, noise, or other disagreeable elements.

Work includes little or no potential exposure to hazardous conditions.

Must be able to travel to remote company and/or client locations.

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.

Compensation Information

At Sandy Spring Bank, compensation is one part of our total rewards package. Compensation within the range will depend on your skills, qualifications, education, experience, and location. Additionally, full-time and part-time positions may be eligible to participate in department or company-wide incentive plans.

Additional Information

Sandy Spring Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.

If you require a reasonable accommodation to apply for a position, please call our job line at 1-800-399-5919 and select option 5. Requests are considered on a case-by-case basis.

Sandy Spring Bank partners with various job boards to advertise our openings. Please visit our website, www.sandyspringbank.com to confirm the validity of the job posting to avoid any potential fraudulent activity. We encourage and recommend all candidates to apply via our website.