SVP or VP Trust Operations Manager
About The Position
Devon Bank is an independent community bank serving the Chicagoland area and beyond, offering personalized service and customized solutions across banking, home financing, trust and investments, and business financing. The Manager of Trust Operations is responsible for the daily operations of the Bank’s Trust and Wealth Management Department, including recordkeeping, documentation of trust account transactions, risk management oversight, and operations compliance. The role oversees trust operations processing and reconciliations, account openings and closings, customer statements and tax reporting, audits, IRA reporting, online trust services, systems support, and the work of Operations staff. The manager also maintains internal controls, supports compliance and corrective action, monitors departmental policies and procedures, and develops practical solutions to client and operational issues.
Requirements
- Bachelor’s degree or equivalent from a four-year college.
- Three or more years of Trust Operations or Wealth Advisory Administration experience, including at least two years in a management or supervisory capacity.
- Experience with all facets of trust securities.
- Strong knowledge of FDIC regulatory requirements and banking and accounting functions, including trading, investments, reconciliations, demand deposit accounts, and electronic fund transfers.
- Strong Microsoft Office skills, including Word, Excel, and Outlook.
- Ability to learn new software applications quickly.
- Excellent oral and written communication skills and a strong client-service orientation.
- Ability to multitask, manage large volumes of work, and meet stringent deadlines accurately and efficiently.
- Ability to maintain composure and work effectively in deadline situations.
- Reliability and trustworthiness, with a strong personal commitment to completing projects successfully.
- Strong math skills, including applying fractions, percentages, ratios, and proportions to practical situations.
Nice To Haves
- Experience with GlobalWealth ES accounting software.
Responsibilities
- Balance and reconcile the GlobalWealth ES (GWES) system daily, monthly, and annually, ensuring timely and accurate processing of trust operations transactions and activities.
- Supervise posting of security-related trades, income processing, and capital structure transactions.
- Reconcile assets held at custodians, brokers, mutual funds, and DRP agents.
- Set up new accounts on GWES and oversee collection of incoming assets.
- Close accounts on GWES and oversee delivery of outgoing assets.
- Produce customer statements.
- Produce tax forms, including 1099 and 5498 forms, and tax files for electronic filing.
- Coordinate with outside tax preparers to ensure timely tax return completion and delivery of K-1 forms to beneficiaries.
- Manage Trust and Wealth Management Department audits, including preparation of audit packages and responses to operations-related audit requests.
- Produce year-end IRA statements and distribute IRA Required Minimum Distribution notifications.
- Oversee the online trust portal interface and mobile applications.
- Train and supervise Operations staff.
- Provide data processing and systems support for the GWES Accounting platform and ensure related software is current and functional.
- Prepare management reports as assigned by the department head.
- Report non-compliance incidents and take corrective action where necessary.
- Assess client and operational issues requiring immediate attention and develop practical solutions.
- Provide and maintain appropriate internal controls to minimize client impact and reputational risk.
- Monitor and modify departmental policies and procedures as needed, including the department Business Continuity Plan.
- Work independently and collaboratively to provide satisfying and cost-effective solutions.
- Perform other duties as assigned.
Benefits
- UnitedHealthcare medical coverage.
- Dental and vision coverage through Guardian.
- Employer-paid life insurance.
- Short- and long-term disability coverage.
- 401(k) with employer match.
- Voluntary employee-paid options such as legal coverage, accident insurance, and pet insurance.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
