Trust Officer

Location
Minneapolis, Minnesota
Salary
Join our team!
Posted
Feb 18, 2019
Ref
TRUST02367
Role
Executive
Job Type
Long-Term
Hours
Full Time
Position Summary:

This position has the responsibility for maintaining and administering trusts, estates, taxable and non-taxable accounts with a focus on trust administration. Alerus Trust Officers are required to deliver comprehensive services for our clients while collaborating with other employees as needed. This requires providing superior customer service to both internal and external customers through effective communication.

Essential Responsibilities:

Job Function Number 1: Trust Administration - 50%
  • Schedule client review appointments and assemble material to enhance the customer knowledge, understanding and experience including the appropriate Alerus team members as needed.
  • Recognize a client's financial situation and needs by building relationships and understanding their personal goals.
  • Maintain a continuing relationship with existing customers to retain their goodwill and develop additional business.
  • Ensure the Alerus team working with the client is informed of sensitive client issues and client requests.
  • Understand the K-1's and Grantor tax information to help clients with questions on their tax reporting documents.
  • Review new trusts and wills for customers and provide recommendations to assist in meeting their future goals.
  • Ensure appropriate fees are charged and bill for extraordinary services.
  • Terminate accounts where services may not be economical or necessary.
  • Assist with estates as needed and understand the estate administration process. Serve as backup for the Estate Officer as needed.

Job Function Number 2: Account Compliance and Documentation - 40%
  • Complete annual regulatory review of accounts.
  • Understand governing documents such as account agreements, trust documents and wills to administer accordingly.
  • Provide documentation for payment requests that follow trust provisions and meet the needs of the current and remainder beneficiaries.
  • Review tax returns completed for trust accounts and provide K-1's to the beneficiaries.
  • Initiate investment action requests to maintain compliance with investment objective as required or directed.
  • Understand unique assets in trust accounts to ensure appropriate documentation for real estate, mineral interests, closely held companies, and other unique assets.
  • Maintain a system for periodic payments and receipts.
  • Document activities in Alerus' customer management tool.

Job Function Number 3: Community Involvement - 5%
  • Represent Alerus in community organizations and activities.
  • Reach out to area professionals to learn more about their roles in the firm and educate them on what Alerus has to offer.

Job Function Number 4: Growth and Development - 5%
  • Maintain knowledge applicable laws and regulations as well as knowledge of the policy and procedure manuals for the AIFS department.
  • Maintain and upgrade trust, estate, investment and IRA expertise.
  • Assume responsibility for career growth and development by actively pursuing continuing education, reading, and self-development to enhance skills.
  • Attend seminars and classes that include trust, IRA and bank programs.

Position Requirements:

Qualifications:
  • Four year degree in accounting, business or finance preferred.
  • Six or more years related experience.
  • Certified Financial Planner (CFP) or Certified Trust and Financial Advisor (CTFA) required.
  • Word, Excel and other basic computer skills.
  • Ability to read and interpret trust and wills.
  • Proven ability to analyze a customer's needs and make financial recommendations.

Personal Characteristics:
  • Professionalism, dependability, integrity.
  • Ability to communicate problems and propose and negotiate resolution.
  • Ability to work in groups and independently, prioritize multiple tasks and meet deadlines.
  • Ability to mentor and train team members on various topics
  • Excellent time management skills, organizational skills and attentive to details.

Physical Demands: (must be met with or without a reasonable accommodation)
  • Extended periods of time sitting at a desk and using office equipment.
  • Ability to operate a personal computer/laptop for approximately 8 hours per day.
  • Extended time is spent reviewing physical and electronic documents.
  • The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
  • Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
  • Will spend most of time in an indoor environment.

Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.