Job Description
Scope of Job:
The Senior Trust Officer is responsible for the administration of complex personal trust accounts, including ultra-high-net-worth, family, charitable, and directed trusts. This role requires deep fiduciary knowledge, sound judgment, and the ability to navigate family dynamics, estate settlement, and closely held business interests. The Senior Trust Officer serves as a key relationship manager, working closely with clients, their advisors, and internal teams to deliver personalized, high-touch trust and estate administration services. This position is a key contributor to the Trust Department's risk management, client satisfaction, and business development goals.
Primary Duties:
Administer a book of complex trust accounts, including multigenerational, directed, special needs, and irrevocable life insurance trusts (ILITs), in accordance with governing instruments, applicable laws, and company policies.
Interpret trust documents and manage distributions, tax reporting, and legal compliance.
Serve as the primary relationship manager for high-net-worth clients and family offices, addressing fiduciary.
Collaborate with co-trustees, trust protectors, distribution committees, and family governance entities.
Assist with estate settlement, including marshaling assets, paying debts, filing required tax returns, and distributing assets.
Review and monitor accounts holding unique or illiquid assets, such as closely held business interests, real estate, and alternative investments.
Participate in trust committee meetings and provide recommendations regarding discretionary distributions and account management.
Partner with other BankWest Departments to drive business development and close new Trust business by participating in prospecting activities.
Proactively identify and harvest opportunities to deepen relationships within current client base.
Meet with key clients periodically to maintain relationships and identify issues, new business opportunities, and provide trust, estate, and wealth transfer planning guidance.
Proactively engage other Departments within BankWest to best meet client needs.
Provide leadership in onboarding new business and overseeing account acceptance processes.
Identify and mitigate fiduciary risks and escalate concerns appropriately.
Secondary Duties:
Work as a team with departmental counterparts on planning and implementing assigned projects and products.
Participate on various committees and project teams as deemed appropriate by management.
Attend, actively participate in organization, job specific training offered, and Quality Service programs.
Adhere to all applicable Policies and Procedures of BankWest organization.
Community involvement is strongly encouraged.
Other duties as assigned.
Requirements
Education:
A Bachelor's Degree in a related field.
Applicable experience and/or related certifications may be considered in lieu of degree.
JD, CTFA, CPA, or other relevant professional designations strongly preferred.
Experience:
Minimum 10 years of experience in trust administration, with at least 5 years focused on complex or South Dakota situs accounts.
Knowledge and Special Skills:
Ability to work dependently and/or independently, under pressure, meet deadlines, and adjust work schedules as needed to complete job responsibilities.
Ability to organize and handle multiple responsibilities while delivering quality external and/or internal Customer Service.
Strong interpersonal skills to ensure effective communication with external and/or internal customers.
Knowledge or ability to learn regulatory requirements pertinent to performance of specified duties in job description.
Knowledge of trust terminology and procedures.
Proven ability to handle complex family structures, charitable trusts, and business ownership issues.
Adapt at managing competing priorities and delivering timely, accurate work under pressure.
Expert knowledge of fiduciary principles, trust and estate administration, and federal and state tax implications.
Familiarity with South Dakota's directed trust framework, trust protector roles, and privacy and decanting statutes.
Knowledge of BankWest products and services.
Ability to skillfully use a variety of application software, learn computer programs, and comprehend the program output.
Adhere to Federal Privacy Standards in addition to following BankWest requirements for electronic communication and Social Engineering standards.
BankWest is a "Sales Organization" and all employees are expected to participate directly or indirectly with increasing BankWest's presence in their markets as appropriate.
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