Job: Trust Officer

Jobing Description

Description:
- Trust Officer (1107509)

Job Description

Trust Officer - 1107509

Description

The Trust Officer acts as the primary fiduciary contact for a trust account and is responsible for performing or overseeing all the details of trust account management and administration. The Trust Officer ensures that the client's portfolio is invested in the appropriate investment strategy. The Trust Officer is responsible for monitoring account activity to ensure compliance with a trust document, as well as internal procedures; investigating and recommending action on discretionary decisions; and providing estate and tax expertise as necessary.

Primary Responsibilities

* Manage book of business of trust accounts where Fidelity is serving as Trustee or Co-Trustee and companion investment management accounts.
* Increase retention of assets, additional sales, client satisfaction and loyalty through proactive client management.
* Ensure Annual Administrative Reviews are thoroughly conducted so that all fiduciary and tax filing responsibilities are met.
* Ensure Annual Strategic Reviews are thoroughly conducted so that client is always placed in a suitable portfolio according to the client's financial goals and objectives, time horizon, and risk tolerance. Demonstrate broad-based knowledge and understanding of leading indicators such as current market and economic indicators, customer sentiment or current events and assimilate these as they relate to client needs. Conceptualize the relative value of asset allocation and verbalize to clients the relative valuation of asset classes and tactical maneuvering of asset allocation.
* Administer trust accounts including reviewing trust instruments and related documents, preparing and recommending action on discretionary distributions by Trust Administration Committee, managing distributions to beneficiaries and expenses of administration and overseeing special assets held in trust.
* Monitor principal and income balances for all trust accounts and resolve overdrafts as necessary.
* Maintain records for all charitable trusts, perform annual calculations, prepare mailings to beneficiaries naming distribution dates and amounts, and schedule payments as necessary.
* Oversee life insurance trust administration including requests for gifts to trusts, notices to beneficiaries, follow up to beneficiaries, and payment of premiums.
* Coordinate legal and tax issues with Fiduciary Specialists, Sales Support Specialists, Trust Administrators, Trust Operations, Chief Fiduciary Officer, and Director of Personal Trust.
* Maintain high level of fiduciary and tax expertise through internal collaboration and continuing education.
* Coordinate conversion of current form trusts to full trustee or co-trustee relationships for existing clients
* Coordinate conversion of current investment management accounts to form trusts or full trustee or co-trustee relationships for existing clients
* Assist with selling our trustee services to clients and prospects (e.g. prospect specifically requests an introduction to their trust officer prior to establishing the trustee or co-trustee relationship or when the branch representative or other sales employee wishes to leverage the trust expertise of the Trust Officer in closing the sale)
* Conduct face-to-face annual administrative reviews or meetings with clients when necessary.

Qualifications

Education and Experience

* College degree or equivalent experience
* Preferred 4 to 10 years experience in trust bank; knowledge of trust products is required
* Working knowledge of personal and trust taxation, investments, trust and estate law, estate planning, retirement planning, and other financial services required.
* Legal background and/or trust administration experience is a plus.
* CTFA preferred, CFP, MBA or JD encouraged.
* Ability to manage a complex book of business.
* Proven strong customer orientation.
* Ease in working with all levels in the Fidelity organization
* Series 7 and 66.

Skills and Knowledge

* Proven strong organizational skills and attention to detail
* Excellent customer service and communication skills, both verbal and written
* Ability to relay complex information understandably
* Ability to adapt easily to a constantly changing environment, juggle multiple task and prioritize work to maintain efficiency
* Ability to think strategically and tactically
* Demonstrated creative problem resolution
* Ability to take initiative and work independently
* Strong team orientation and ability to function as a team player

About Fidelity Investments

Fidelity Investments is one of the world's largest providers of financial services, with assets under administration of $3.4 trillion, including managed assets of $1.5 trillion, as of October 31, 2011. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit www.fidelity.com.

Fidelity Investments is an equal opportunity employer