BankWest - South Dakota · 3 months ago
Senior Trust Officer - BankWest Location Negotiable
Pierre, SD
Full-time
Onsite
Senior Level, Lead/Staff
10+ years expBankWest is a financial institution based in South Dakota, seeking a Senior Trust Officer to manage complex personal trust accounts. The role involves serving as a relationship manager for high-net-worth clients, ensuring compliance with fiduciary responsibilities, and collaborating with various stakeholders to enhance client satisfaction and business development.
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Responsibilities
Administer a book of complex trust accounts, including multigenerational, directed, special needs, and irrevocable life insurance trusts (ILITs), in accordance with governing instruments, applicable laws, and company policies
Interpret trust documents and manage distributions, tax reporting, and legal compliance
Serve as the primary relationship manager for high-net-worth clients and family offices, addressing fiduciary
Collaborate with co-trustees, trust protectors, distribution committees, and family governance entities
Assist with estate settlement, including marshaling assets, paying debts, filing required tax returns, and distributing assets
Review and monitor accounts holding unique or illiquid assets, such as closely held business interests, real estate, and alternative investments
Participate in trust committee meetings and provide recommendations regarding discretionary distributions and account management
Partner with other BankWest Departments to drive business development and close new Trust business by participating in prospecting activities
Proactively identify and harvest opportunities to deepen relationships within current client base
Meet with key clients periodically to maintain relationships and identify issues, new business opportunities, and provide trust, estate, and wealth transfer planning guidance
Proactively engage other Departments within BankWest to best meet client needs
Provide leadership in onboarding new business and overseeing account acceptance processes
Identify and mitigate fiduciary risks and escalate concerns appropriately
Work as a team with departmental counterparts on planning and implementing assigned projects and products
Participate on various committees and project teams as deemed appropriate by management
Attend, actively participate in organization, job specific training offered, and Quality Service programs
Adhere to all applicable Policies and Procedures of BankWest organization
Community involvement is strongly encouraged
Other duties as assigned
Qualification
Required
A Bachelor's Degree in a related field
Minimum 10 years of experience in trust administration, with at least 5 years focused on complex or South Dakota situs accounts
Ability to work dependently and/or independently, under pressure, meet deadlines, and adjust work schedules as needed to complete job responsibilities
Ability to organize and handle multiple responsibilities while delivering quality external and/or internal Customer Service
Strong interpersonal skills to ensure effective communication with external and/or internal customers
Knowledge or ability to learn regulatory requirements pertinent to performance of specified duties in job description
Knowledge of trust terminology and procedures
Proven ability to handle complex family structures, charitable trusts, and business ownership issues
Adapt at managing competing priorities and delivering timely, accurate work under pressure
Expert knowledge of fiduciary principles, trust and estate administration, and federal and state tax implications
Familiarity with South Dakota's directed trust framework, trust protector roles, and privacy and decanting statutes
Knowledge of BankWest products and services
Ability to skillfully use a variety of application software, learn computer programs, and comprehend the program output
Adhere to Federal Privacy Standards in addition to following BankWest requirements for electronic communication and Social Engineering standards
Preferred
JD, CTFA, CPA, or other relevant professional designations strongly preferred
Company
BankWest - South Dakota
BankWest - South Dakota is a community bank with bsuiness, agricultural and personal banking services.
201-500 employees
Funding
Current Stage
Growth StageTotal Funding
$34.54M2025-01-24Debt Financing· $4.54M
2019-11-06Debt Financing· $30M
Leadership Team
Steve Bumann
CFO
Marc Rasmussen
SVP/Chief Credit Officer
Recent News
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