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Legal Staff Paralegal in Boston, MA

Ropes & Gray LLP. Apr 28,2017 Mar 16,2017 Location USA Boston MA
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Law Firm

Legal Staff

Litigation - Foreclosure (Lender-side)

Trusts and Estates

Min 5 yrs required

Profile

Trust Client Services Administrator Duties: Acts as the initial point of contact for a client relationship and is responsible for enhancing the overall relationship through excellence in client service. Professionalism, client focus and a broad understanding of wealth management, personal trusts, and financial systems are critical. Oversee client accounts and develop long-term relationships by participating in client meetings, when appropriate, and acting as the client liaison. With proven proficiency and sound judgment the is responsible for the administration of an assigned group of individual accounts, Trust and Estate relationships of highly sensitive and complex in nature and size. Processing requests from a variety of sources, including Private Client Group attorneys, Ropes Wealth Advisor managers, clients, external investment advisors and/or tax accountants. Expected to use all available technological resources to the fullest extent possible, in particular the core trust accounting system. The incumbent is responsible for adhering to operational and administrative policies and procedures in the delivery of service to the lawyers, investment advisors and clients. Manage relationships with multiple accounts by interacting with account owners, trustees, investment advisors, executors, accountants, beneficiaries, etc. Coordinate a seamless customer services experience between all interested parties. Enhance the relationship by proactively engaging the client and related parties when appropriate. Oversee the onboarding of new relationships by reviewing and completing necessary documentation to open accounts and move assets. Work with the investment advisor to reconcile assets and establish personalized features while providing consistent client engagement throughout the process. Review and maintain an understanding of all documents associated with each relationship. Prepare a written summary for each trust and ensure proper administration of all assigned trusts and estates. Review potential requirements for individual clients and special situations on a regular basis. Manage account activity by monitoring management fees, cash movement asset management, gifting and various other client requests that impact an account we administer. Act as an additional reviewer for trustee requests, including discretionary requests and monitor and review account transactions to ensure compliance with the trust agreement and accuracy of completed transactions. Manage the cash flow within accounts, ensuring that cash levels are sufficient to meet needs. This includes prevention of overdrafts and requesting cash be raised when necessary, checking cash availability for requests, preparing income projections, preparing schedules of expenses and computing annual payout amounts. Develop an understanding of the unique and/or alternative assets held in a client’s account. Review and complete documentation necessary to remain compliant with externally held investments. At the request of Private Client Group attorneys or investment advisors, assess new alternative investment documentation requirements (e.g. subscription documents, FINRA requests, distribution forms, etc.) and assist in completing special requests. Update internal records on regular basis with asset pricing information. Administer loans payments, limited partnership holding requests, capital calls and distributions. Track outside accounts and miscellaneous holdings and coordinate cash receipts from these accounts. When the situation arises, in conjunction with Private Client Group lawyers, tax accountants and investment advisors, obtain and verify all information necessary to terminate trust or estate accounts in line with the estate plan. In conjunction with the tax accountant and client, monitor and maintain contributions and distributions for clients with retirement accounts. Ensure proper tax requirements are met and that the client is aware of any required action. Using the functionality of the trust accounting system and its related modules, respond to requests from lawyers, clients, investment advisor and the Manager of Trust Client Services for assistance in providing client and/or account related information. Perform other duties related to successful delivery of service to the lawyers and their clients as assigned by the Private Client Group Department Head, the Director of Trust and Tax Services, the Manager of Trust Client Services and clients and beneficiaries of accounts. Participate in the department’s periodic review and audits of accounts. Regularly use tools available to assess red flags and high risk situations.

Qualification and Experience

Qualifications: A Bachelors’ Degree in a business-related discipline and 5+ years' experience in a wealth management department. A CTFA or paralegal certificate is a plus. Knowledge of trust, estate and tax Law. Exceptional written and verbal communication and presentation skills. Represent the firm to clients, beneficiaries, outside advisors in a professional, effective and timely manner. Good problem solving skills and attention to detail. Problems are technically or administratively varied and require the collection, interpretation and analysis of data from diverse sources. Must be able to formulate and present a plan of action consistent with department guidelines to resolve issues within scope of the job. Must follow up and follow through to the completion of the task. Well developed interpersonal skills to create positive rapport with clients and to deliver outstanding customer service thereby reinforcing clients’ decision to continue their relationship. Sufficient understanding of investments, the market and tools used in wealth management to comfortably engage in conversation with internal resources regarding client portfolios. Ability to identify the appropriate internal and external investment related resources to direct clients. High level of organizational abilities. Effectively manage time, prioritize demands on time. Dedication to a high quality product and service. Patience, flexibility and common sense. Proactive approach and ability to independently carry out all duties of the position. Ability to anticipate potential problems. Must have the ability to: work under pressure and within inflexible deadlines; work with diverse groups to attain common goals ; work with multiple people on several projects simultaneously and establish priorities to complete assignments within given time frames; be a proactive, self-starter who can work independently and productively while understanding the details within a much larger context; be flexible in order to respond quickly and positively to shifting demands and opportunities; maintain confidentiality; take issue resolution from inception to completion; review task assignments for each client with team members to ensure a timely response to all client inquiries and concerns. Expertise with PC software applications, especially computerized trust accounting systems or the demonstrated ability to develop this expertise. Understanding of investment management markets.

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