Trust & Estate Administrative Associate

Cape Cod 5•Hyannis, MA

About The Position

Coordinates activities primarily related to estate account administration and also supports investment management accounts, personal trusts, court-ordered guardianships, and other fiduciary accounts. The associate coordinates and manages estate administration, including gathering and appraising assets, coordinating tax return preparation, accounting, and distributions in accordance with wills, trusts, court orders, and other governing documents. The role communicates with beneficiaries, clients, co-fiduciaries, colleagues, and external professionals, and facilitates clients’ financial dealings throughout the Bank. The position supports client servicing and operational administration for new and existing trust, estate, asset management, and custody accounts. Responsibilities include coordinating account setup and documentation, resolving account and system discrepancies, supporting the online portal, monitoring cash and reports, coordinating asset transfers and distributions, and working with internal teams and external providers to complete tax and account-related processes. The associate also helps develop client relationships and supports acquisition and retention of Bank business.

Requirements

Bachelor’s degree.
General knowledge of estate or trust administration in a bank trust department or wealth management department, or related banking experience.
General knowledge of financial markets and the ability to communicate that knowledge effectively to clients and prospects.
Intermediate knowledge and skill with computer applications and a desire to learn new applications in support of departmental operations.
Commitment to continuing education and development.
Excellent interpersonal skills.
Exceptional customer service and ethics.
Cybersecurity awareness to protect the digital environment, the Bank, and customers.
Business acumen, sound judgment, customer-service orientation, problem-solving, critical-thinking, financial-comprehension, and learning-agility competencies.
Excellent verbal and written communication skills.

Nice To Haves

Advanced trust school or other professional certifications, including CTFA, CPA, CFP, and/or FPQP®.
Notary Public; a notary commission is also noted as a plus.
Technology enthusiasm or early-adopter orientation.
Entrepreneurial competencies.

Responsibilities

Coordinate probate activities and the administration of decedents’ estates.
Inventory, gather, secure, and appraise decedents’ assets, and ensure appropriate investment during probate.
Distribute estate assets in accordance with state law and the decedent’s will or trust.
Maintain communication with Bank colleagues, clients, beneficiaries, legal counsel, and co-fiduciaries.
Assist the Wealth Management Officer with client servicing, monitor client service issues, prepare communications, and respond to routine account requests.
Serve as the primary client contact in the absence of the Wealth Management Officer.
Coordinate client bill payment, settlement of decedents’ debts, on-demand and recurring distributions, and retirement distributions with Operations.
Coordinate tax preparation internally and externally, follow up on amounts due, and ensure quarterly tax estimates are submitted appropriately and on time.
Assist clients with online account access and work with retail and operations teams to provide customer service.
Coordinate account-opening documentation and administrative duties for new and existing trust, estate, asset management, and custody accounts.
Verify account setup and servicing for accuracy and completeness, research and correct setup problems, and resolve processing discrepancies.
Review accounts for system compatibility and usable information, and help develop solutions to system constraints.
Support the Department’s online portal, reset locked or expired client passwords, and troubleshoot client hardware and software issues.
Ensure client documentation is completed according to policy guidelines.
Gather data for tax returns and coordinate the distribution, delivery, and transfer of assets.
Coordinate delivery of client statements and other periodic reports.
Review daily, intraday, and monthly reports to monitor account cash; review daily reports for accuracy and completion of prior-day tasks; and review Trust system cash movements each morning and afternoon for client cash availability.
Perform tasks associated with retail or Trust and Asset Management operations projects and other duties assigned by the supervisor.
Build networks with CPAs, attorneys, financial planners, community leaders, and others to support new business for the Bank.
Help educate Bank employees to encourage identification and referral of qualified prospects.
Participate in prospect and client meetings to acquire new business and support retention of existing clients.
Promote additional products and services to existing or prospective customers when opportunities arise.
Participate in community and professional organizations.
Work with investment officers to coordinate asset liquidation, payment of estate and trust obligations and expenses, and collection of earnings, dividends, or sale proceeds.
Maintain current knowledge of legal, tax, and legislative changes affecting trust activities, fiduciary relationships, and trustee responsibilities, including ethical issues.
Participate on business-unit committees, provide input and advice on business issues, support client acquisition, and assist senior and department managers with team building across internal customer-contact areas.