Trust Officer
Location: Evansville
Posted on: November 20, 2024
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Job Description:
.Serve as relationship manager and fiduciary advisor for clients
with more than $1,000,000 in investable assets and support a book
of accounts having an asset base of at least
$100,000,000.
.On behalf of Fifth Third Bank as Trustee, Agent or Custodian,
understand and administer a range of fiduciary accounts in
accordance with the terms of their governing documents. A typical
client may have one or more of the following: multigenerational
trusts, multiple residences, complex gifting requirements,
challenging family dynamics, litigation concerns, interaction with
multiple co-trustees as well as family and professional advisors,
closely-held business interests, multi-layered stock options,
significant retirement assets, charitable trusts or a private
foundation.
DUTIES AND RESPONSIBILITIES:
.Client Service
Coordinate fiduciary services for approximately 125 client
relationships
Administer multigenerational trusts, often with discretionary
income and principal payments distributed among multiple family
members while managing financial risk
Execute the terms of any estate plan or documents in which Fifth
Third Private Bank serves as Trustee, Executor, Personal
Representative, Guardian or Agent for Fiduciary, often exercising
broad discretion for beneficiaries with competing
interests
Actively participate with the Private Bank client service team to
develop, interpret, communicate and facilitate a range of estate
planning matters as part of the advice-based solutions presented to
the clients
Retain client base by working with the client service team to
deliver the highest service and client contact
standards
As the primary fiduciary contact, resolve client
issues
Challenge and collaborate with client to articulate and achieve
goals
Collaborate with the client''s advisors, including attorneys and
accountants, to develop and implement a comprehensive wealth
plan
.Account Administration
Complete annual administrative account
reviews
Ensure compliance and proper documentation requirements are met,
consistent with internal fiduciary policies and procedures
regarding business and asset acceptances, discretionary actions,
and all other bank policies, procedures and
guidelines
Work closely with Trust Tax Accountants to ensure proper tax
reporting
.Sales
Achieve an annual sales target of $150,000 to $250,000, depending
upon experience level, and annual recurring fee revenue target of
approximately $1,000,000
Prospect for clients by sourcing and building a pipeline of
opportunities
Solicit and receive referrals from clients, internal business
partners and Centers of Influence (COIs)
Identify opportunities and partner with the WMAs, internal business
partners and COIs in the sales process to maximize new business
opportunities
Actively participate in the Life360 Process to identify and provide
appropriate products, services, and cross-selling
opportunities
Acquire additional assets (account additions) from existing
clients
Demonstrate client contact and relationship management skills,
including the development of targeted business
plans
Utilize and ensure prospect/client information is appropriately
entered, updated, and managed in the CRM tracking
system
.Other
Demonstrate sound decision-making skills, including balancing
business risk to Fifth Third Bank with client
interests
Seek advice and counsel from Senior Trust Officers when faced with
challenging technical or relationship situations, if
necessary
Champion the Bancorp Vision and Core Values through personal
actions
Recommend enhancements to policies and
procedures
Continually develop and maintain knowledge of current trends and
changes in the industry with regard to fiduciary matters (e.g.
estate planning, probate, estate, gift and income tax planning,
guardianships, special needs trusts, state-specific
law)
Attend community and/or industry-specific forums, conferences
and/or meetings in order to broaden relationships, network and
continually deepen knowledge of trends, practices, products and
competitors
Participate actively in community affairs and professional
associations
Keywords: , Terre Haute , Trust Officer, PR / Public Relations , Evansville, Indiana
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