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Years of Experience
Date Last Verified
Wealth Management â€“ Trusts & Estates - Estate Administrator, Associate The candidate works under the supervision of the Estate Officer in the administration of the accounts. The Estate Administrator is expected to have or develop the skills to provide leverage and back-up coverage for the Estate Officer with whom the Estate Administrator works. Work with the Account Opening Group to open estate or trust accounts. Interpret the governing instrument and applicable law to ensure the proper set-up of account records, including payments, fee schedules (when appropriate) and tax records. Communicate with beneficiaries and co-executors or co-trustees to outline administrative procedures. Respond to client issues, anticipate client needs, and prepare for and participate in client meetings with the Estate Officer. Work with the Tax Officers and counsel on income, gift, estate, and generation skipping taxes for the trust/estate and its beneficiaries. Handle ongoing day to day administration of accounts, and proactively manage account base in an effort to avoid and minimize service and operational issues. Oversee the work performed by various operational groups. Identify risk that might be incurred in connection with an estate or trust, consistent with any applicable policies and procedures governing the risk in question. Utilize risk management tools, such as the overdraft report, daily transaction report, Administrative Review, and the AAR Variance Report to ensure that all exceptions are properly addressed and kept to a minimum. Communicate with Investors regarding investment matters and liquidity needs. Handle departmental projects relating to accounts and special assets. Participate on various committees as needed. Estate Administrator must actively participate in dealing with interested parties and develop relationships with income beneficiaries, co-executors and co-trustees and intermediaries in order to have appropriate knowledge to carry out the decedent and or grantorâ€™s purposes and meet the needs of the beneficiaries. The specialized and ever changing nature of the Trust and Estate practice requires that Estate Administrators devote time to personal development and training. Training at company includes internal sessions covering systems changes, practices and procedures, Q & A sessions offered to facilitate understanding of environment and sessions on technical, legal, tax and regulatory developments. Coaching and training junior members of the team, especially in fundamental trust, estate and tax concepts.
Qualification and Experience
A Bachelor's degree required. Should have 3+ years experience in the trust and estates industry. Advanced degree such as JD, industry certification such as CTFA or paralegal certificate, with paralegal experience in trust and estates practice preferred. Experience with company fiduciary platform a plus. Experience in the administration and support of estates and trusts including general understanding of fiduciary products and concepts, including legal, tax and investments knowledge is required. Should have Problem Solving/Risk Management skillsâ€“ takes initiative, decisive, accountable, exhibits critical analysis and judgment. Must have Client Servicing skillsâ€“ client knowledge, client relationships, proactive communication.
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