Trust Accountant

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Trust Accountant
The candidate is responsible for a variety of routine trust accounting and trust operational activities, including reconciliation of customer accounts and processing activities per standard procedures required in a typical trust operations group. Will use his/her trust background to actively participate in process improvement initiatives that incorporate automation, drive scalability, streamline procedures and enhance risk management measures. Essential Job Functions: Reconcile custodial accounts with a variety of asset types on a monthly basis, ensuring accurate statement and tax reporting – which includes trades, wash sales, amortization entries, income earned, disbursements, etc. Assist with the coordination and payment of 65 day and liability distributions including the communication and organization of information with the other Trust Accountants, attorneys, paralegals and/or tax preparers. Coordinate the raising of cash with brokers or third party advisor, ensuring funds are received by the department timely for outgoing scheduled/unscheduled distributions and checks. Custody Accounts. Process routine entries on client accounts wherein G&K has custody of the trust assets. This includes the following types of entries Trades; Income Collection of all types; Cash Disbursements and Cash Receipts of all types; Corporate Action entries of all types. Accuracy and timeliness are critical as the information is presented through a client web portal and periodic client statement. Ensure trust cash entries to the checking account reconcile to daily trust system entries processed, including: trades, income collection of all types, cash disbursements and cash receipts of all types, and corporate action entries of all types. Ensure trust asset entries to the custody account reconcile to daily trust system entries processed. Risk Management. Process routine activities to ensure accurate account data and compliance with Wisconsin Supreme Court Rules Chapter 20 and/or other regulatory like compliance deemed applicable for trust accounting. Reporting. Monitor and record the financial transactions of the trust and report periodically to the Trustees, Beneficiaries and/or Trustor. Miscellaneous. Attend team meetings and required training sessions. Seek and complete additional training on topics essential to the job. Maintain accurate daily procedures. Other duties as assigned. Minimum Qualifications: Undergraduate degree in business, accounting or finance or equivalent work experience preferred. 4+ years of experience in trust operations required. An understanding of fiduciary terms and concepts, including amortization, corporate actions, wash sales, securities processing, interest and dividend payment methodologies, alternative assets, tax lot reporting and capital gain/loss tax implications. Familiarity with trust accounting software. Basic understanding of financial terms, various types of investment vehicles and the types of transactions and tax implications that they generate. Proficient use of Microsoft Office, particularly Word, Excel and Outlook.

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