Trust Officer

Location: Nashville
Posted on: November 20, 2024

Job Description:

GENERAL FUNCTION:

.Serve as relationship manager and fiduciary advisor for clients with more than $1,000,000 in investable assets and support a book of accounts having an asset base of at least $100,000,000.

.On behalf of Fifth Third Bank as Trustee, Agent or Custodian, understand and administer a range of fiduciary accounts in accordance with the terms of their governing documents. A typical client may have one or more of the following: multigenerational trusts, multiple residences, complex gifting requirements, challenging family dynamics, litigation concerns, interaction with multiple co-trustees as well as family and professional advisors, closely-held business interests, multi-layered stock options, significant retirement assets, charitable trusts or a private foundation.

DUTIES AND RESPONSIBILITIES:

.Client Service

Coordinate fiduciary services for approximately 125 client relationships

Administer multigenerational trusts, often with discretionary income and principal payments distributed among multiple family members while managing financial risk

Execute the terms of any estate plan or documents in which Fifth Third Private Bank serves as Trustee, Executor, Personal Representative, Guardian or Agent for Fiduciary, often exercising broad discretion for beneficiaries with competing interests

Actively participate with the Private Bank client service team to develop, interpret, communicate and facilitate a range of estate planning matters as part of the advice-based solutions presented to the clients

Retain client base by working with the client service team to deliver the highest service and client contact standards

As the primary fiduciary contact, resolve client issues

Challenge and collaborate with client to articulate and achieve goals

Collaborate with the client''s advisors, including attorneys and accountants, to develop and implement a comprehensive wealth plan

.Account Administration

Complete annual administrative account reviews

Ensure compliance and proper documentation requirements are met, consistent with internal fiduciary policies and procedures regarding business and asset acceptances, discretionary actions, and all other bank policies, procedures and guidelines

Work closely with Trust Tax Accountants to ensure proper tax reporting

.Sales

Achieve an annual sales target of $150,000 to $250,000, depending upon experience level, and annual recurring fee revenue target of approximately $1,000,000

Prospect for clients by sourcing and building a pipeline of opportunities

Solicit and receive referrals from clients, internal business partners and Centers of Influence (COIs)

Identify opportunities and partner with the WMAs, internal business partners and COIs in the sales process to maximize new business opportunities

Actively participate in the Life360 Process to identify and provide appropriate products, services, and cross-selling opportunities

Acquire additional assets (account additions) from existing clients

Demonstrate client contact and relationship management skills, including the development of targeted business plans

Utilize and ensure prospect/client information is appropriately entered, updated, and managed in the CRM tracking system

.Other

Demonstrate sound decision-making skills, including balancing business risk to Fifth Third Bank with client interests

Seek advice and counsel from Senior Trust Officers when faced with challenging technical or relationship situations, if necessary

Champion the Bancorp Vision and Core Values through personal actions

Recommend enhancements to policies and procedures

Continually develop and maintain knowledge of current trends and changes in the industry with regard to fiduciary matters (e.g. estate planning, probate, estate, gift and income tax planning, guardianships, special needs trusts, state-specific law)

Attend community and/or industry-specific forums, conferences and/or meetings in order to broaden relationships, n

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