Vp, Trust & Estate Settlement Officer

Bluestone Bank
Description:

The Trust & Estate Settlement Officer will have a strong background in trust and estate administration, with a focus on settlement and distribution of assets. This role will administer estates, manage and settle administrative trusts, and administer the closing process for all personal trust and estate accounts. They will work with beneficiaries, internal, and external partners to ensure accurate and timely tax payments, estate and trust termination fees, and delivery of assets.

Essential Functions

Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.

• Administers fiduciary accounts in accordance with applicable laws and regulations.
• Manages the settlement process for trusts and estates, including asset distributions and account closures.
• Facilitates the transition of closing trust accounts and onboarding of new estates.
• Manages fixed and discretionary expenses to maximize profits.
• Oversees and enforces proper fiduciary controls of all assets under management.
• Review and prepare trust and probate accountings, receipt, release and indemnification agreements. Confirm distribution instructions, initiate, and oversee asset transfers and cash distributions.
• Provides a high level of communication to clients, beneficiaries, attorneys, and other stakeholders, with a focus on client satisfaction.
• Anticipates effects of changes in tax laws to individual accounts; advises clients of modifications required. Responsible for preparing applicable tax documentation and filings according to deadline.
• Monitors client requirements (disbursements, investment decisions, tax issues, estate/probate business, required filings and submissions). Ensures timely and accurate fulfillment of all client needs.
• Adheres to all applicable internal and external quality assurance and compliance regulations.
• Analyzes and executes buy/sell decisions for individual client portfolio.
• Oversees accurate and timely account administration activities. Maintains appropriate cash balances in accounts. Prepares court filings as required.
• Prepares compliance and governmental reporting as required on a timely basis.
• Promotes Bank and Trust Department within the Bank and the community.
• Establishes and cultivates network of contacts with peers at other organizations, government agencies, and other potential business sources.
• Maintains and updates fund of knowledge of trust administration and operations.
• Participates in development of annual operating and strategic plans for department.
• Contributes to the success of the Bank wide sales team referral initiative.
• Assumes additional responsibilities as requested.

Physical Demands and Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit and talk or listen, reach with hands and arms; and stoop, kneel, or crouch. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, and the ability to adjust focus.

Affirmative Action/EEO Statement

An Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.

Requirements:

• Bachelor's degree in business administration, related discipline, or equivalent education and experience.
• LLM, CFA, CTFA or CFP preferred.
• Five years of experience in a financial or legal services organization.
• Comprehensive knowledge of all facets of trust administration and investment management, including estate and income taxation, legal issues, compliance, probate process, and investment procedures and trends.
• Familiarity with MA probate requirements and estate and income taxation.
• Strong understanding of Bank policies and products.
• Ability to quickly learn and properly use various software programs.

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