Trust Tax Officer

Job Description

Job Description

Role and Responsibilities:

• Maintain the Trust Ledger by accurately processing receipts, disbursements, transfers, journal entries, investment transactions, scheduled transactions, and other fiduciary account activity.
• Reconcile trust cash, bank, brokerage, and fiduciary accounts while researching and resolving discrepancies.
• Process authorized wire transfers, investment transactions, tax payments, and other fiduciary account activity.
• Maintain accurate account records, market values, scheduled transactions, and supporting documentation.
• Assist with opening, maintaining, transferring, and closing trust, estate, retirement, agency, and custodial accounts.
• Prepare operational and management reports, trust accounting, fee processing, reconciliations, Annual Asset Reviews, and other required fiduciary reports.
• Assist with month-end and year-end accounting processes and maintain accurate fiduciary records.
• Lead the fiduciary tax administration process by coordinating the preparation, review, and timely filing of required federal and state fiduciary tax returns while serving as the department’s primary resource for fiduciary tax reporting.
• Prepare tax information and supporting documentation for CPAs and coordinate the review of completed fiduciary tax returns.
• Coordinate fiduciary tax payments, estimated tax payments, CPA invoices, tax preparation fees, and monitor filing deadlines.
• Ensure trust operations comply with governing documents, bank policies, fiduciary regulations, and applicable federal and state laws.
• Maintain fiduciary records and documentation in accordance with bank’s records retention policy an applicable regulatory requirement.
• Coordinate Annual Asset Reviews and maintain supporting documentation for internal audits, external audits, and regulatory examinations.
• Serve as a technical resource for Trust Officers by providing guidance and support on fiduciary accounting, trust operations, fiduciary tax administration, and operational processes.
• Develop and maintain positive working relationships with Trust Officers, clients, beneficiaries, attorneys, CPAs, investment advisors, and other professional partners.
• Research operational, accounting, and fiduciary tax issues and recommend appropriate resolutions and process improvements.
• Assist with the development, maintenance, and documentation of Trust Department procedures and operational processes.
• Identify opportunities to improve operational efficiency, strengthen internal controls, and support continuous process improvement.
• Crosstrain with Trust Department associates and provide backup support for essential department functions.
• Participate in departmental projects, system enhancements, and other strategic initiatives.

• Maintain prompt and regular attendance.
• Demonstrate a positive, helpful attitude with co-workers and customers.
• Strives to improve efficiency in his/her work area through cost savings.
• Perform other duties as assigned.
• Completes all training assigned by HR, IT, Compliance, BSA, and supervisor on a timely basis.
• Follows IT Security Policies and Procedures, including the diligent reporting of phishing emails.

Qualifications and Education Requirements

• Bachelor’s degree in Accounting, Finance, Business Administrating or related field
• Experience in trust accounting, fiduciary administration, or fiduciary income tax reporting.

Commercial Bank and Trust Company is an Equal Opportunity Employer - Vets/Disabled