AVP, Trust Officer

LPL Financial•Cleveland, NV

About The Position

The Assistant Vice President, Trust Officer for The Private Trust Company is responsible for effective trust administration and an excellent client experience. The role provides day-to-day client management for designated relationships and covers relationship management, fiduciary and account administration, and other functions that support clients, business partners, and firm-wide initiatives. The Trust Officer administers designated client accounts, coaches and mentors trust specialists, and works with trustees, beneficiaries, financial advisors, counsel, attorneys, and CPAs. The position involves reviewing fiduciary matters and legal documents, managing trust and investment account activity, and supporting moderately complex to complex client relationships. The role also participates in projects and collaborates with colleagues to improve practices and team effectiveness.

Requirements

Five years of experience in trust administration, preferably with a broker-dealer or traditional bank or trust company.
Knowledge of financial planning, philanthropic planning, and fiduciary law.
Verbal and written communication skills for effective interactions with clients and financial advisors.
Attention to detail, especially regarding trust administration, tax, and investment requirements.
Experience with Microsoft Office and ability to adapt to trust and tax accounting applications.
Organizational skills.

Nice To Haves

Bachelor’s degree preferred.
Advanced degree or certification preferred.

Responsibilities

Serve as trust administrator for designated clients, including coaching trust specialists in preparing summaries and recommendations for discretionary actions.
Communicate with trustees, beneficiaries, and financial advisors; administer special assets; review annual trust reviews; and ensure fiduciary standards and practices are observed.
Administer trust and investment accounts, including transaction management or execution, overdraft and tax lot management, account setup and funding review, account termination, and related administrative functions.
Consult with the Trust Administration Committee, Trust Counsel, beneficiaries, outside trustees, financial advisors, attorneys, and CPAs as appropriate.
Analyze and interpret wills, trusts, agreements, and entity documents in relation to clients’ estate, tax, and financial plans.
Coach, mentor, and supervise trust specialists in trust administration.
Manage financial advisor and client relationships and provide service and support for moderately complex to complex relationships.
Identify client needs, address concerns, resolve issues with guidance from senior officers where appropriate, and respond to inquiries while keeping relevant parties involved.
Communicate with clients, financial advisors, external partners, and colleagues about fiduciary, tax, legal, administrative, and investment matters.
Participate in special projects and initiatives and build effective working relationships with colleagues and peers across the firm.
Collaborate with colleagues to enhance best practices, engage appropriate resources, and foster strong team dynamics.
Communicate relevant basic principles of asset classes, allocation, risk, Prudent Investor standards, and the investment philosophy and process to clients.