Trust Officer 3 - Capital Region

Community Financial System, Inc.•Latham, NY

18d

About The Position

At Community Financial System, Inc. (CFSI), the Trust Officer develops, services, and administers assigned fiduciary accounts in accordance with account agreements, legal documents, Trust Policy, fiduciary statutes, banking regulations, and applicable laws. The role also develops new business opportunities for the department. Accounts may be complex, involve significant assets and varied asset types, and carry increased difficulty or risk. They include agency accounts, IRAs, guardianships and conservatorships, trusts, and estate settlement accounts. The position analyzes legal documents and account agreements, administers trusts and estates, handles client and professional inquiries, maintains accurate account records, reviews distribution requests, monitors liquidity, and prepares accountings and required filings. It works with portfolio managers and outside professionals, supports clients’ financial and estate-planning needs, promotes Trust and Wealth Management services, and develops relationships that generate business. The role also supervises assigned personnel, provides guidance and training, complies with applicable policies and regulations, and provides quality service to internal and external customers. The listed compensation range is $80,000 to $139,633 per year, commensurate with experience, with potential for an annual merit increase. Benefits include paid holidays and vacation, medical, vision and dental insurance, a 401(k) with employer match, a pension, tuition reimbursement, and banking discounts.

Requirements

Must be at least 18 years of age.
Education or training: J.D., CTFA, CFP®, MBA, bachelor’s degree, or related professional experience.
Strong interpersonal, written, and verbal communication skills, including comfort with public speaking.
Strong analytical and problem-solving skills and ability to analyze, comprehend, and interpret legal documents.
Strong mathematical skills, accounting knowledge, and income tax knowledge and/or experience.
Strong attention to detail; ability to work independently and manage deadlines and workflow; self-starter.
Strong computer skills, including Word, Excel, and PowerPoint.
Knowledge of trusts, estates, investments, employee benefits, and estate planning.
Valid driver’s license.

Nice To Haves

A minimum of five years’ experience in the trust industry or a related position is preferred, including at least three years’ experience as a Trust Officer.

Responsibilities

Administer fiduciary accounts in accordance with account agreements, legal documents, policies, statutes, regulations, and applicable laws.
Administer and settle estates in accordance with decedents’ wills.
Respond to inquiries from clients, beneficiaries, professionals, courts, auditors, regulators, and Bank personnel, and document communications and authorizations.
Communicate account instructions and changes to Trust Management, portfolio managers, tax preparers, and operations personnel.
Work with portfolio managers to develop investment objectives and policy statements.
Maintain accurate account files and trust accounting system information, including regulatory and risk-management coding.
Perform documented annual administrative reviews and other required recurring tasks.
Review distribution requests and analyze, recommend, or determine discretionary distributions in accordance with governing documents and Trust Policy.
Monitor uninvested cash and account liquidity, and direct liquidation of funds as needed for distributions and expenses.
Oversee and administer unique or non-standard assets, including real estate when applicable.
Prepare interim and final accountings and required filings with courts and government agencies.
Ensure account terminations discharge the Bank’s legal responsibilities and include appropriate authorizations and fee collection.
Escalate legal threats, security concerns, and other matters of concern to Trust Management or risk-management personnel.
Hire and work cooperatively with outside professionals and maintain professional relationships that support client service and business development.
Develop new business and promote Trust, Wealth Management, and Bank services to internal and external audiences.
Develop understanding of clients’ financial situations, needs, and families to promote appropriate financial and estate-planning strategies and products.
Maintain awareness of legal changes affecting trust account administration.
Supervise assigned personnel and provide guidance and training support as needed.
Comply with applicable laws, regulations, policies, procedures, internal controls, and job-specific training requirements.
Provide quality service and cooperate with other departments and colleagues.
Perform other related duties as assigned.