Summary

The Personal Trust Administration Officer administers simple trust accounts in accordance with the terms of the trust document and all applicable laws.

Essential Duties & Responsibilities

• Develop relationships with clients through frequent contact via telephone, email, or in writing. Communicate with FAs, attorneys, and CPAs regarding client needs. With supervisor approval, meet with clients as necessary or requested.
• Review trusts to ensure compliance with regulatory guidelines and fiduciary responsibility. Interpret document under general supervision to ensure appropriate administration of trusts. Make sure files are complete for annual audit by federal and state examiners under Regulation 9 laws and guidelines. Review and report account status annually. Consult with supervisor to clarify ambiguous terms or provisions of the document.
• Monitor trust activity. Approve, coordinate and supervise the establishment of the account with the trust company including, coordination and monitoring of transferred assets, correct statement recipients, collecting cost basis information, approving account on system, approving fee schedule set-up, etc. Review daily account activity. Establish recurring bill payments and client disbursements. Keep client and FA apprised of any unusual activity in the account. Monitor the yearly gift from the client to insurance trusts for payment of premiums. Revalue charitable trusts on an annual basis to ensure payments are going to the beneficiaries per the trust provisions.
• Coordinate, monitor and execute post-death provisions under general supervision. Coordinate notification of client's death with appropriate areas of trust company. Review the trust for the dispositive provisions and notify remaindermen after consultation with supervisor. Coordinate with attorney, CPA and personal representative regarding administration and closing of the estate and the preparation of a 706. Review estate assets and coordinate the disposition under general supervision with the attorney, personal representative and remaindermen. Review estate tax return (706) and order of distribution with immediate supervision. Coordinate the transfer of assets from the estate to the trust (where applicable) or out of the trust per the dispositive provisions.
• Review Court Accountings, under general supervision and upon approval, file with the appropriate Court or Court Referee.
• Review work of assigned Trust Associate for accuracy and bring any issues to manager's attention.

Qualifications

• Understand and comply with all regulations, including 12CFR9, Community Reinvestment Act, Bank Secrecy Act, Fair Credit Reporting Act, etc.
• Ability to use logic and reasoning to identify complex problems; review related information and develop options and implement solutions. Ability to assess liability and react appropriately and promptly.
• Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Ability to use logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Considering the relative costs and benefits of potential actions to choose the most appropriate one.

Education & Experience

• Bachelor's Degree or equivalent work experience required.
• 1+ years' of experience in banking, trust administration, or related experience; knowledge of investment products and planning, estate planning and tax returns.

Systems & Technology

• Proficient in Microsoft Excel, Word, and Outlook

Stifel is a more than 130 years old and still thinking like a start-up. We are a global wealth management and investment banking firm serious about innovation and fresh ideas. Built on a simple premise of safeguarding our clients’ money as if it were our own, coined by our namesake, Herman Stifel, our success – and 26 years of continual growth – is intimately tied to our commitment to helping families, companies, and municipalities find their own success.

While our headquarters is in St. Louis, we have offices in New York, San Francisco, Baltimore, London, Frankfurt, Toronto, and more than 400 other locations. Stifel is home to approximately 9,000 individuals who are currently building their careers as financial advisors, research analysts, project managers, marketing specialists, developers, bankers, operations associates, among hundreds more. Let’s talk about how you can find your place here at Stifel, where success meets success.