Senior Trust Officer

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Senior Trust Officer
Responsibilities: Responsible for the services and administration of new and existing portfolio of Assets under Administration including management and oversight for trust and agency relationships, including living and testamentary trusts, probate, guardianships, investment advisory, and custody accounts. Develop professional relationships with clients and their dependents and function as clients’ trust advisor. Serve as valued team member and resource for employees, including financial advisors, and as a backup for other trust officers as needed. Oversees duties and responsibilities of Trust Administrators. Responsible for coordinating and managing fiduciary and administrative services for clients. Conduct initial member interviews and refer member to appropriate source. Oversees the day-to-day work processed by trust administrators by providing counseling, education and guidance. Assist Executive Director to coordinate trust administrators assigned duties and assures all deadlines are met in a timely manner. Collaborates with clients’ advisors, including attorneys, CPAs and accountants, and financial advisors to anticipate their wealth planning needs, health and welfare needs, Elder care and Special needs cases, manage financial risk, identify sources of income, and to develop and implement a comprehensive wealth plan and ensure proper tax planning, filing and reports. Execute the terms of any estate plan, will or trust in which Members Trust Company serves as trustee, executor, personal representative, guardian, or agent for fiduciary, often exercising broad discretion for beneficiaries with competing interests. Daily trust administration duties to include meeting with existing/new clients to discuss needs, develop budgets, answer question and review statements, and completion of annual administrative reviews. Oversight and completion of ongoing court accountings and requirements, annual administrative reviews and coordination of various contractors as required. Discusses difficult and complex Medicaid/SSI regulations with members, CPAs and attorneys. Coordinating professionals consisting of Attorneys, CPAs, Care Managers, home care agencies providing daily care for the client in their home. Responsible for meeting internal and external compliance documentation requirements consistent with internal fiduciary policies and procedures regarding new business and asset acceptance, discretionary actions, and all other policies, procedures and guidelines. Ensuring all legal documents are in order such as Advance Directives that are state-approved, wills, power of attorney, etc. Archive and manage closed files according to National Compliance Protocol. Oversee daily processing of member trust transactions including bill payment, opening/closing accounts, disbursing funds, including IRAs, etc. Assist other credit union employees with trust-related questions and concerns.
Acts as liaison between accountants, attorneys, and other centers of influence in the community. Maintain and understand compliance to ensure that work complies with established policies, procedures and applicable regulations, to include Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Member Identification Program (MIP), and Office of Foreign Asset Control (OFAC). Other duties that may be assigned or required in connection with the general operation of the credit union.

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