Trust Administrator I

Job Details

Summary: Responsible for managing administration of assigned client trust and custodial relationships in a positive manner while observing strict confidentiality. Assisting in setup and execution of operational activities associated with the Trust Administration Department s scope of responsibilities.

Essential Job Duties and Responsibilities primary job duties that incumbent must be able to perform include:

• Responsible for serving as a relationship manager for trust and custodial client relationships. This role will participate in the proper management and administration for assigned accounts adhering to applicable laws and regulations as well as complying with all requisite policies and procedures.
• Assists attorney and trustees with administration of trust accounts pursuant to terms of trust documents, applicable laws, and consistent with the needs of the principals, income beneficiaries, and remaindermen.
• Establishes and maintains relationships with trust beneficiaries.
• Act as the intermediary to the organization on behalf of clients and coordinates service activities with other areas of the organization.
• Oversees and manages responsibilities for accounts assigned by Trust Administration Manager including:
• Receipt and delivery of assets such as stocks, bonds, mutual funds, real estate and other miscellaneous assets relating to assigned accounts;
• Monitors daily cash overdrafts on system and resolves same within ten business days in accordance with fiduciary standards relating to assigned accounts;
• Security transactions relating to assigned accounts;
• Corporate actions relating to assigned accounts;
• Research, audit and follow-up of all asset-related transactions relating to assigned accounts; and
• Communication with securities brokers and other financial institution representatives relating to assigned accounts, if necessary.
• Fields client inquiries, responds to administrative and transactional concerns of clients, and observes the implementation and review of investment programs.
• Direct establishment of ad hoc and scheduled transactions and subsequent approval of transaction execution.
• Manage cash needs of assigned accounts.
• Performs routine administrative reviews of assigned trust files to determine accuracy and compliance with terms of trust document.
• Effectively communicates with clients, trustees, grantors, beneficiaries, other service providers regarding the needs of beneficiaries and grantors in a timely and professional manner.
• Works under the direct supervision of trustee(s) in developing solutions to most issues brought forth by principals, income beneficiaries, and remaindermen such as requests for special distributions, fee issues, or disputes.
• Oversees the opening and closing of accounts, ensures the receipt of proper and legally required documentation, ensures the full and complete transfer of assets, their cost basis, and the proper characterization of cash as income or principal, ensures all tax codes and account administration codes are accurate.
• Administratively monitors and tracks tax reporting activities, coordinating with the Tax Department.
• Other duties as assigned

Knowledge, Skills and Abilities:

• Familiar with fiduciary law, trust accounting principles, and fiduciary income taxation.
• Demonstrated understanding of securities markets, securities trade settlement, and other asset-related transactions
• Interpersonal skills necessary to maintain effective relationships with clients, accountants and other client advisors, and to represent Fletcher Tilton in a professional manner when dealing with service providers.
• Ability to work in a team environment with attorneys, paralegals and staff to provide high quality client service.
• Strong writing and analytical skills, as well as ability to proofread and produce documents that are neat, attractive, and free from errors.
• Ability to successfully utilize computer applications, including but not limited to Microsoft Word, Excel, Accutech Cheetah Trust Accounting System, and Fletcher Tilton PC Timekeeping systems; and to operate standard office equipment such as photocopiers, facsimile machines, typewriter and calculator.
• Must be well organized, detail-oriented and self-motivated, with ability to take responsibility for seeing all aspects of tasks through to the end.
• Ability to organize and prioritize numerous tasks and complete them under time constraints
• Ability to concentrate and pay close attention to detail and
• Ability to draft and produce standard memoranda and business correspondence

Credentials and Experience:

Four-year college degree or formal paralegal training or equivalent legal experience and/or training preferred.

One to three years experience in trust administration, with a demonstrated understanding of fiduciary income taxation and trust accounting principles, securities markets and the processing of securities trades.

 Fletcher Tilton PC - Attorneys at Law

 05/16/2024

 Worcester,MA