Trust Administrator
Apply NowCompany: ITASCA BANK & TRUST Company
Location: Itasca, IL 60143
Description:
Itasca Bank & Trust Co. is an independently owned, local community bank with locations in Itasca and Roselle. Itasca Bank values its staff. Our most important assets are the people - customers and employees. For over 75 years the Bank has been a responsible citizen and community leader because it respects the values of its past when making decisions that shape its future. Without a dedicated and responsible staff, we can't serve customer needs and remain a responsible corporate citizen. Itasca Bank has been voted Best of the Best/Top Pick by the Daily Herald Readers since 2016, which reflects our dedication to quality service, high standards, and responsiveness to customers and employees alike. Itasca Bank is a responsible employer dedicated to the health and safety of employees and works to maintain diversity in both its workforce and the vendors it uses. We encourage our employees' participation in community and civic activities which lead to better communities, and a positive workplace environment where a work/life balance is encouraged.
Essential Functions
Manage a book of business that includes various types of accounts including, but not limited to, guardianships, trusts, estates, agency accounts, special needs trusts, and IRAs.
Open and close accounts, including preparation of checklists.
Monitor account transactions.
Report to upper management the status of all accounts on your book.
Collaborate with team members to problem solve, discuss issues, and assist each other when needed.
Work closely with clients to keep communication consistent.
Complete annual reviews.
Review tax returns and tax reporting documents.
Work closely with tax professionals to address tax issues as they arise.
Prepare discretionary distributions.
Work closely with the investment advisor to ensure each account is within its investment objective and in compliance with the document parameters/court order.
Stay informed on new laws and regulations in the industry.
Participate in continuing education training.
In addition, the Trust Administrator will spend time in new business development.
Competencies
Organizational skills
Effective communication
Knowledge of industry trends, products, and technology
Initiative
Identify and prospect opportunities for growth.
Team player in all bank functions outside of office duties
Supervisory Responsibility
This position has no supervisory responsibilities.
Work Environment
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers and phones.
Physical Demands
Prolonged periods of sitting at a desk and working on a computer.
Must be able to lift up to 15 pounds at times.
Position Type/Expected Hours of Work
This is a full-time exempt position. Days and hours of work are Monday through Friday, 8:30 a.m. to 5:00 p.m. Evening and weekend work may be required as job duties demand.
Hybrid of in-person and remote work optional.
Travel
Travel is primarily local during the business day, although some out-of-the-area and overnight travel may be expected.
Required Education and Experience
Bachelor's degree in business, investing, law, or related discipline.
Knowledge of trusts, estates, investment agency accounts, custody accounts, and IRA accounts
Familiar with the related administrative duties: accountings, account statements, risk management, discretionary memos, investment overview, and relationship management duties
Knowledge and overview of investments: equities, bonds, and cash equivalents
Business development experience
Preferred Education and Experience
CTFA, CFP, CPA or JD.
AAP/EEO Statement
Itasca Bank & Trust Co. is an Equal Opportunity and Affirmative Action employer Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.
Essential Functions
Manage a book of business that includes various types of accounts including, but not limited to, guardianships, trusts, estates, agency accounts, special needs trusts, and IRAs.
Open and close accounts, including preparation of checklists.
Monitor account transactions.
Report to upper management the status of all accounts on your book.
Collaborate with team members to problem solve, discuss issues, and assist each other when needed.
Work closely with clients to keep communication consistent.
Complete annual reviews.
Review tax returns and tax reporting documents.
Work closely with tax professionals to address tax issues as they arise.
Prepare discretionary distributions.
Work closely with the investment advisor to ensure each account is within its investment objective and in compliance with the document parameters/court order.
Stay informed on new laws and regulations in the industry.
Participate in continuing education training.
In addition, the Trust Administrator will spend time in new business development.
Competencies
Organizational skills
Effective communication
Knowledge of industry trends, products, and technology
Initiative
Identify and prospect opportunities for growth.
Team player in all bank functions outside of office duties
Supervisory Responsibility
This position has no supervisory responsibilities.
Work Environment
This job operates in a professional office environment. This role routinely uses standard office equipment such as computers and phones.
Physical Demands
Prolonged periods of sitting at a desk and working on a computer.
Must be able to lift up to 15 pounds at times.
Position Type/Expected Hours of Work
This is a full-time exempt position. Days and hours of work are Monday through Friday, 8:30 a.m. to 5:00 p.m. Evening and weekend work may be required as job duties demand.
Hybrid of in-person and remote work optional.
Travel
Travel is primarily local during the business day, although some out-of-the-area and overnight travel may be expected.
Required Education and Experience
Bachelor's degree in business, investing, law, or related discipline.
Knowledge of trusts, estates, investment agency accounts, custody accounts, and IRA accounts
Familiar with the related administrative duties: accountings, account statements, risk management, discretionary memos, investment overview, and relationship management duties
Knowledge and overview of investments: equities, bonds, and cash equivalents
Business development experience
Preferred Education and Experience
CTFA, CFP, CPA or JD.
AAP/EEO Statement
Itasca Bank & Trust Co. is an Equal Opportunity and Affirmative Action employer Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.