This individual is responsible for a variety of routine trust accounting and trust operational activities per standard procedures required in a typical trust operations group. This individual will use his/her trust background to actively participate in process improvement initiatives that incorporate automation, drive scalability, streamline procedures and enhance risk management measures.
Essential Job Functions
Coordinate the raising of cash with brokers or third-party advisors, ensuring funds are received by the department timely for outgoing scheduled/unscheduled Distributions to Beneficiaries, Annual Tax Payments, Quarterly Tax Estimate Payments, Liability Distributions, and 65-Day Distributions. This includes the communication and organization of information with the other Trust Accountants, Attorneys, Paralegals and/or Tax Preparers regarding these distributions.
Responsible for daily buys and sells of money market. Daily balancing money market fund in trust system to fund balance at bank. Process and balance monthly interest.
Monitor bank accounts for incoming wires and ACH.
Deposit checks into bank accounts using Remote Deposit Capture check scanner.
Collect and allocate funds on behalf of clients that hold securities experienced Security Litigation.
Completes daily reconciliations of several bank accounts. Uses trust accounting system to reconcile balances and activity of bank accounts.
Risk Management
Process routine activities to ensure accurate account data and compliance with Wisconsin Supreme Court Rules Chapter 20 and/or other regulatory like compliance deemed applicable for trust accounting
Reporting
Monitor and record the financial transactions of the trust and report periodically to the Trustees, Beneficiaries and/or Trustor
Miscellaneous
Attend team meetings and required training sessions
Seek and complete additional training on topics essential to the job
Maintain accurate daily procedures
Other duties as assigned
Minimum Qualifications
Undergraduate degree in business, accounting or finance or equivalent work experience preferred
Minimum of 4 years of experience in trust operations required
An understanding of fiduciary terms and concepts, including but not limited to, amortization, corporate actions, wash sales, securities processing, interest and dividend payment methodologies, alternative assets, tax lot reporting and capital gain/loss tax implications
Familiarity with trust accounting software
Strong organizational and communication skills
Basic understanding of financial terms, various types of investment vehicles and the types of transactions and tax implications that they generate
Proven ability to analyze issues, conduct independent research, resolve problems and escalate issues in a timely and effective manner
Proficient use of Microsoft Office, particularly Word, Excel and Outlook
Ability to follow departmental standards in a consistent manner and perform daily functions with a high level of attention to detail
Ability to multi-task, set priorities and work effectively in a high volume, deadline driven environment
Ability to work overtime during high volume periods
