Trust Officer

Description

Summary

As part of the Somerset Trust Team, it is expected of employees to provide high quality customer service to all internal and external customers and positively collaborate with all team members both within the department and within other areas of the bank. The Trust Officer is responsible for administering trust, estate, and fiduciary accounts while ensuring compliance with applicable laws, regulations, trust documents, and company policies. This role serves as the primary relationship manager for trust clients, beneficiaries, attorneys, accountants, and other professional advisors, providing exceptional service and prudent fiduciary oversight. Employee should understand the policies and procedures of the bank and of the Trust Department, along with the culture and philosophy of the bank to perform his/her duties. This position requires the development of knowledge in laws and regulations governing accounts held by the Trust Department. He/she must be able to deal effectively with other professionals within the community whose services or expertise is pertinent to the administration of accounts held by the Trust Department. Employee must demonstrate professional expertise, sound and prudent judgement & be extremely organized.

Essential Duties and Responsibilities

• Cultivate, manage and grow client relationships

• Administer a portfolio of trust, estate, guardianship, and agency accounts.

• Interpret trust agreements, wills, and governing documents.

• Exercise fiduciary oversight and monitor trust assets.

• Coordinate estate and tax matters.

• Ensure compliance and manage fiduciary risk.

• Support business development and referral opportunities.

• Understand and apply concepts of asset allocation and investment management

• Understand and support all BSA/AML responsibilities as applicable to the position as well as consistently, accurately, and timely carry out these responsibilities in compliance with the Bank's internal policies


• Perform other related work and duties as assigned

Education and/or Experience

Bachelor's degree in Finance, Accounting, Business Administration, Economics, Law, or a related field. Three to seven years of experience in trust administration, fiduciary services, wealth management, banking, or estate administration. CTFA preferred.

TECHNICAL SKILLS

• Knowledge of fiduciary administration

• Analytical and problem-solving skills

• Integrity and discretion

• Organization and time management

• Proficient in using Microsoft Office products including Word, Excel, Outlook


• Must be willing to learn new systems and adapt to emerging technologies

LANGUAGE SKILLS

• Ability to read and interpret legal and regulatory documents such as trust documents, court orders, tax code, laws and maintenance instructions, and procedure manuals.

• Ability to write routine reports and correspondence.


• Ability to speak effectively before groups of customers or employees of organization.

• Ability to read interpret documents such as procedure manuals and release notes

• Ability to write business correspondence, and policies using proper grammar and accurate spelling

MATHEMATICAL SKILLS

• Ability to calculate figures and amounts such as fees, interest, income, etc.

REASONING ABILITY

• Ability to apply common sense, understanding to carry out instructions furnished in written, oral or diagram form.


• Ability to deal with problems involving several concrete variables in standardized situations. Organizational priority setting, and decision-making skills are also required.

PHYSCIAL DEMANDS

• While performing the duties of this job, the employee is required to use hands and fingers to operate office equipment, telephones, etc.
• The employee must occasionally lift and/or move up to 25 pounds
• Specific vision abilities required by this job include close vision, and ability to adjust focus

WORK ENVIRONMENT

• The noise level in the work environment is usually moderate.

BENEFITS AND ADDITIONAL INFORMATION

• Bank wide bonus, 401(k), ESOP, Medical, Dental & Vision insurance, Health Savings Account, Life Insurance, Paid Holidays, PTO, and Paid Volunteer Time.

• Work Schedule is Monday through Friday

• Full-time 37.5 - 40 hours per week

• Flex Schedule Information

This job description is not designed as a comprehensive list of activities, duties, and/or responsibilities and may change at any time with or without notice. The duties and qualifications stated within this job description are representative of the knowledge, skill, and/or ability required for this position.

Somerset Trust Company is an Equal Opportunity Employer, including disability and protected veteran status. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of this position.