Commonwealth Trust Company · 1 day ago
Trust Administrator
Wilmington, DE
Full-time
Hybrid
Entry, Mid Level
1+ years expCommonwealth Trust Company is seeking a Trust Administrator to manage documentation and administration for trusts. The role involves evaluating information, organizing trust documentation, and providing exemplary client service while ensuring compliance with relevant laws and regulations.
BankingFinancial Services
Hiring Manager
Laura Linderman
Responsibilities
Request, receive, evaluate, and organize required documentation in connection with trusts for which the Company is being considered to serve as Trustee
Initial entry of information for trusts into CRM and accounting systems, and related file setup for Trusts
Handle opening bank and brokerage accounts for trusts
Handle directions for investment transactions to be carried out for trusts
Handle requests or directions for distributions from trusts
Handle payments of trust expenses, including insurance premiums, etc. and ensure all are made in a timely manner
Draft and send Crummey notices and other beneficiary notices when the Company is required to send them for Trusts
Request, receive, evaluate, and organize information and documentation in connection with the administration of Trusts
Record transactions and other information in the Company’s accounting software for Trusts and respond promptly to suspense items and other internal inquiries with regard to assigned trusts
Perform annual reviews of certain aspects of Trusts
Assist in the preparation of bills for the company’s services as Trustee by reviewing billing entries in the Company’s billing records and providing a description of the services for invoices
Assist with the collection of amounts owed for the Company’s services as Trustee
Perform Patriot Act compliance for all new and transfer trusts and the relevant parties as well as resolve any and all exceptions found during such compliance process
Engagement in business development activities, such as meeting with prospective grantors
Assist in the training of one or more Trust Administrator Assistants, as requested
Provide a high level of client-oriented service to our clients while complying with laws and regulations to which the Company is subject
Open proposed account files. Prepare document comparisons (if applicable) for review by Trust Counsel, obtain all documentation needed for account opening, conduct background checks as needed. Establish and maintain excellent communications with client, their attorney and other advisors
Finalize documents for execution, seeing that everything needed for review by Trust Counsel has been provided
Respond promptly and professionally to client and external inquiries
Maintain current knowledge of developments affecting client accounts, including legal, tax and investment issues
Adhere to all operating policies and procedures and when working with support personnel, ensure that they have done so as well
Qualification
Required
Minimum BA or BS from an accredited 4-year college/university, Finance major and/or Trust Management minor preferred
Minimum of one to three years of Trust Administration experience required
Excellent verbal and written communication along with strong organizational skills
A passion for working with clients providing exemplary customer service
Experience with Microsoft Office Suite
Preferred
Cannon or ABA Trust school a plus
CTFA certification preferred
Company
Commonwealth Trust Company
Commonwealth Trust Company is a private bank offering professional trustee administration solutions.
51-200 employees
Funding
Current Stage
Growth StageLeadership Team
Caroline Horty Dickerson
Chief Executive Officer
Company data provided by crunchbase