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Wealth Management Sr. Officer

Wealth Management Sr. Officer

POSITION:    WEALTH MANAGEMENT SR OFFICER

GRADE:    7

OVERALL FUNCTIONS:    The Senior Trust Officer (STO) is responsible for the administration and overall client relationship management of a book of trust and investment agency accounts in accordance with the terms of the governing instruments and state and federal laws. The STO will develop trust and investment prospects as well as focus on the retention of existing business for the bank and Wealth Management Services (WMS). Working in conjunction with the/Manager of WMS, the Senior Trust Officer will provide leadership and act as a mentor to other Officers as it pertains to trust administration, estate planning, and changes to fiduciary law.

QUALIFICATIONS:    The Senior Trust Officer will have a bachelor’s degree and five years of prior trust and/or investment experience or the equivalent. A Juris Doctorate is preferred but not required. It is required that this person complete advanced training as a Certified Trust and Financial Analyst or Certified Wealth Strategist. The STO will possess an understanding of laws and regulations governing the administration of trust and estate accounts. The STO will have a good understanding of investments, asset allocation, and financial planning techniques. This person will have strong communication skills to enable effective communication and interaction with fellow staff, clients, and the general public.

PRINCIPAL RESPONSIBILITIES ARE TO:

1.    Administer a book of accounts in accordance with the terms of the governing document and departmental policies and procedures. Monitor daily activity with reference to investments, tax, and personal objectives.

2.    Maintain contact with clients, beneficiaries, and organizations regarding account performance, financial planning, tax and estate planning, and other issues to ensure the client’s personal financial goals are being met, the beneficiary’s needs are being addressed, and other retention services are provided.

3.    Resolve problems and inquiries from grantors, principals, beneficiaries, and others. Handle requests for distributions or planning and approving necessary expenditures for care and maintenance.

4.    Actively participate in the development of wealth management services and new trust and investment prospects in Brookings, eastern South Dakota and west-central Minnesota. Develop referral sources from current clients, by bank staff, and through professionals in the area.

5.    Provide leadership and fill the role as a resource for other officers in the area of trust and estate planning, estate settlement, and conservatorships. Keep abreast of legislation and regulatory developments to maintain technical skills and substantive knowledge necessary to render effective account administration and the support of other officers.

6.    Administer farm management accounts including the completion of semi-annual inspections, negotiations of farm lease agreements, and review of land production and income generation.

7.    Administer 1031 Qualified Tax Deferred Exchanges in compliance with IRS rules and regulations.

8.    Act in accordance with FBT policies and procedures as set forth in the employee handbook.

9.    Adhere to compliance procedures and participate in required compliance training.


Additional Info

Job Type : Full-Time

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