Wealth Sr. Trust Operations Officer
Posted on Sep 20, 2024 by Johnson Financial Group
Madison, WI
Other
Immediate Start
Annual Salary
Full-Time
Overview:
The Wealth Trust Operations Officer will be responsible for operational support of a complex ultra-high net worth multi-family relationships, including, but not limited to managing trust operations with precision and care, ensuring daily reporting, account opening/closing, assets/cash management, trust account maintenance, and trust tax payment/filings are performed in concert with applicable governing trust documentation. Collaboration with Fiduciary Trust Administration Office is expected to ensure proper trust accounting for grantors and beneficiaries. This person will manage a trust wealth management system that includes functions of daily cash settlement, reconciliations, and platform support. In addition, this role will be responsible for fiduciary tax processing, working with a third- party vendor to deliver timely and accurate tax returns and estimated payments. This person will serve as a liaison between the advisor, trustee fiduciary officers, and our tax vendors.
KEY RESPONSIBILITIES
Provide support to high-net worth family groups through scheduled daily functions and have flexibility to problem solve, research inquiries, and adapt to time-sensitive needs.
Responsible for accurately managing accounts which feature sophisticated estate plans, unusual/unmarketable/closely held assets, complex will/trust provisions, resolution of liabilities, opening and closing of accounts within wealth custodial operating systems, including tracking of and processing incoming/outgoing transfer of assets, cost basis, fees, and/or cash.
Responsible for review, disbursement, and updating of required reports (exception reports, account activity, cash movement, transaction activity, Required Minimum Distributions for IRAs, overdrafts, etc.).
Responsible for maintaining unique asset processing and maintenance, includes new asset set-up, pricing, transactions and activity, location, reporting, etc.
Oversees special tasks, including sale of real estate or family business interest, disposition of qualified plan assets, coordinating response to estate tax audits, and facilitating beneficiaries’ requests.
Responsible for account maintenance including reversal of transactions, account and investment management changes, and accurate reporting of custodial statements.
Responsible for the administration of a wealth trust management platform used for trust and fiduciary accounting. Includes the daily settlement of cash, valuation/collection/reconciliations of assets, providing unique trust accounting reporting, and working with the vendor relationship manager.
Works with internal counsel, third party vendors, field advisors, and fiduciary officers to process tax payments and returns for high-net worth family groups.
Gather necessary tax documents for tax vendor, maintain data bridges between trust platform and vendor, coordinate questions between vendor and advisor.
Complete annual tracking of tax returns, tax due, and quarterly estimates. Coordinate payments when needed and work with field on accurate tax platform coding.
Complete analysis of 65-day distributions and assist with discretionary distributions when appropriate.
Work with fiduciary committee on tax intake forms, providing accurate information to tax vendors including trust type outlines in trust documentation.
Demonstrate strong understanding of investment and fiduciary business, with emphasis on trust administration and principal and income accounting.
JOB REQUIREMENTS – EDUCATION, KNOWLEDGE, AND SKILLS
Bachelor’s degree with minimum 5 years’ experience in Wealth management industry with additional years of experience working directly with trust and/or fiduciary accounts. Work experience may be considered in lieu of education.
Paralegal and/or trust accounting experience preferred. CTFA certification a plus.
Excellent oral and written communication skills; proven organizational, analytical and follow up skills.
Proficient in Wealth accounting systems.
Proficient with MS Office Suite of products, Wealth accounting systems and bank operating systems.
The Wealth Trust Operations Officer will be responsible for operational support of a complex ultra-high net worth multi-family relationships, including, but not limited to managing trust operations with precision and care, ensuring daily reporting, account opening/closing, assets/cash management, trust account maintenance, and trust tax payment/filings are performed in concert with applicable governing trust documentation. Collaboration with Fiduciary Trust Administration Office is expected to ensure proper trust accounting for grantors and beneficiaries. This person will manage a trust wealth management system that includes functions of daily cash settlement, reconciliations, and platform support. In addition, this role will be responsible for fiduciary tax processing, working with a third- party vendor to deliver timely and accurate tax returns and estimated payments. This person will serve as a liaison between the advisor, trustee fiduciary officers, and our tax vendors.
KEY RESPONSIBILITIES
Provide support to high-net worth family groups through scheduled daily functions and have flexibility to problem solve, research inquiries, and adapt to time-sensitive needs.
Responsible for accurately managing accounts which feature sophisticated estate plans, unusual/unmarketable/closely held assets, complex will/trust provisions, resolution of liabilities, opening and closing of accounts within wealth custodial operating systems, including tracking of and processing incoming/outgoing transfer of assets, cost basis, fees, and/or cash.
Responsible for review, disbursement, and updating of required reports (exception reports, account activity, cash movement, transaction activity, Required Minimum Distributions for IRAs, overdrafts, etc.).
Responsible for maintaining unique asset processing and maintenance, includes new asset set-up, pricing, transactions and activity, location, reporting, etc.
Oversees special tasks, including sale of real estate or family business interest, disposition of qualified plan assets, coordinating response to estate tax audits, and facilitating beneficiaries’ requests.
Responsible for account maintenance including reversal of transactions, account and investment management changes, and accurate reporting of custodial statements.
Responsible for the administration of a wealth trust management platform used for trust and fiduciary accounting. Includes the daily settlement of cash, valuation/collection/reconciliations of assets, providing unique trust accounting reporting, and working with the vendor relationship manager.
Works with internal counsel, third party vendors, field advisors, and fiduciary officers to process tax payments and returns for high-net worth family groups.
Gather necessary tax documents for tax vendor, maintain data bridges between trust platform and vendor, coordinate questions between vendor and advisor.
Complete annual tracking of tax returns, tax due, and quarterly estimates. Coordinate payments when needed and work with field on accurate tax platform coding.
Complete analysis of 65-day distributions and assist with discretionary distributions when appropriate.
Work with fiduciary committee on tax intake forms, providing accurate information to tax vendors including trust type outlines in trust documentation.
Demonstrate strong understanding of investment and fiduciary business, with emphasis on trust administration and principal and income accounting.
JOB REQUIREMENTS – EDUCATION, KNOWLEDGE, AND SKILLS
Bachelor’s degree with minimum 5 years’ experience in Wealth management industry with additional years of experience working directly with trust and/or fiduciary accounts. Work experience may be considered in lieu of education.
Paralegal and/or trust accounting experience preferred. CTFA certification a plus.
Excellent oral and written communication skills; proven organizational, analytical and follow up skills.
Proficient in Wealth accounting systems.
Proficient with MS Office Suite of products, Wealth accounting systems and bank operating systems.
Reference: 202035090
https://jobs.careeraddict.com/post/95487612
Wealth Sr. Trust Operations Officer
Posted on Sep 20, 2024 by Johnson Financial Group
Madison, WI
Other
Immediate Start
Annual Salary
Full-Time
Overview:
The Wealth Trust Operations Officer will be responsible for operational support of a complex ultra-high net worth multi-family relationships, including, but not limited to managing trust operations with precision and care, ensuring daily reporting, account opening/closing, assets/cash management, trust account maintenance, and trust tax payment/filings are performed in concert with applicable governing trust documentation. Collaboration with Fiduciary Trust Administration Office is expected to ensure proper trust accounting for grantors and beneficiaries. This person will manage a trust wealth management system that includes functions of daily cash settlement, reconciliations, and platform support. In addition, this role will be responsible for fiduciary tax processing, working with a third- party vendor to deliver timely and accurate tax returns and estimated payments. This person will serve as a liaison between the advisor, trustee fiduciary officers, and our tax vendors.
KEY RESPONSIBILITIES
Provide support to high-net worth family groups through scheduled daily functions and have flexibility to problem solve, research inquiries, and adapt to time-sensitive needs.
Responsible for accurately managing accounts which feature sophisticated estate plans, unusual/unmarketable/closely held assets, complex will/trust provisions, resolution of liabilities, opening and closing of accounts within wealth custodial operating systems, including tracking of and processing incoming/outgoing transfer of assets, cost basis, fees, and/or cash.
Responsible for review, disbursement, and updating of required reports (exception reports, account activity, cash movement, transaction activity, Required Minimum Distributions for IRAs, overdrafts, etc.).
Responsible for maintaining unique asset processing and maintenance, includes new asset set-up, pricing, transactions and activity, location, reporting, etc.
Oversees special tasks, including sale of real estate or family business interest, disposition of qualified plan assets, coordinating response to estate tax audits, and facilitating beneficiaries’ requests.
Responsible for account maintenance including reversal of transactions, account and investment management changes, and accurate reporting of custodial statements.
Responsible for the administration of a wealth trust management platform used for trust and fiduciary accounting. Includes the daily settlement of cash, valuation/collection/reconciliations of assets, providing unique trust accounting reporting, and working with the vendor relationship manager.
Works with internal counsel, third party vendors, field advisors, and fiduciary officers to process tax payments and returns for high-net worth family groups.
Gather necessary tax documents for tax vendor, maintain data bridges between trust platform and vendor, coordinate questions between vendor and advisor.
Complete annual tracking of tax returns, tax due, and quarterly estimates. Coordinate payments when needed and work with field on accurate tax platform coding.
Complete analysis of 65-day distributions and assist with discretionary distributions when appropriate.
Work with fiduciary committee on tax intake forms, providing accurate information to tax vendors including trust type outlines in trust documentation.
Demonstrate strong understanding of investment and fiduciary business, with emphasis on trust administration and principal and income accounting.
JOB REQUIREMENTS – EDUCATION, KNOWLEDGE, AND SKILLS
Bachelor’s degree with minimum 5 years’ experience in Wealth management industry with additional years of experience working directly with trust and/or fiduciary accounts. Work experience may be considered in lieu of education.
Paralegal and/or trust accounting experience preferred. CTFA certification a plus.
Excellent oral and written communication skills; proven organizational, analytical and follow up skills.
Proficient in Wealth accounting systems.
Proficient with MS Office Suite of products, Wealth accounting systems and bank operating systems.
The Wealth Trust Operations Officer will be responsible for operational support of a complex ultra-high net worth multi-family relationships, including, but not limited to managing trust operations with precision and care, ensuring daily reporting, account opening/closing, assets/cash management, trust account maintenance, and trust tax payment/filings are performed in concert with applicable governing trust documentation. Collaboration with Fiduciary Trust Administration Office is expected to ensure proper trust accounting for grantors and beneficiaries. This person will manage a trust wealth management system that includes functions of daily cash settlement, reconciliations, and platform support. In addition, this role will be responsible for fiduciary tax processing, working with a third- party vendor to deliver timely and accurate tax returns and estimated payments. This person will serve as a liaison between the advisor, trustee fiduciary officers, and our tax vendors.
KEY RESPONSIBILITIES
Provide support to high-net worth family groups through scheduled daily functions and have flexibility to problem solve, research inquiries, and adapt to time-sensitive needs.
Responsible for accurately managing accounts which feature sophisticated estate plans, unusual/unmarketable/closely held assets, complex will/trust provisions, resolution of liabilities, opening and closing of accounts within wealth custodial operating systems, including tracking of and processing incoming/outgoing transfer of assets, cost basis, fees, and/or cash.
Responsible for review, disbursement, and updating of required reports (exception reports, account activity, cash movement, transaction activity, Required Minimum Distributions for IRAs, overdrafts, etc.).
Responsible for maintaining unique asset processing and maintenance, includes new asset set-up, pricing, transactions and activity, location, reporting, etc.
Oversees special tasks, including sale of real estate or family business interest, disposition of qualified plan assets, coordinating response to estate tax audits, and facilitating beneficiaries’ requests.
Responsible for account maintenance including reversal of transactions, account and investment management changes, and accurate reporting of custodial statements.
Responsible for the administration of a wealth trust management platform used for trust and fiduciary accounting. Includes the daily settlement of cash, valuation/collection/reconciliations of assets, providing unique trust accounting reporting, and working with the vendor relationship manager.
Works with internal counsel, third party vendors, field advisors, and fiduciary officers to process tax payments and returns for high-net worth family groups.
Gather necessary tax documents for tax vendor, maintain data bridges between trust platform and vendor, coordinate questions between vendor and advisor.
Complete annual tracking of tax returns, tax due, and quarterly estimates. Coordinate payments when needed and work with field on accurate tax platform coding.
Complete analysis of 65-day distributions and assist with discretionary distributions when appropriate.
Work with fiduciary committee on tax intake forms, providing accurate information to tax vendors including trust type outlines in trust documentation.
Demonstrate strong understanding of investment and fiduciary business, with emphasis on trust administration and principal and income accounting.
JOB REQUIREMENTS – EDUCATION, KNOWLEDGE, AND SKILLS
Bachelor’s degree with minimum 5 years’ experience in Wealth management industry with additional years of experience working directly with trust and/or fiduciary accounts. Work experience may be considered in lieu of education.
Paralegal and/or trust accounting experience preferred. CTFA certification a plus.
Excellent oral and written communication skills; proven organizational, analytical and follow up skills.
Proficient in Wealth accounting systems.
Proficient with MS Office Suite of products, Wealth accounting systems and bank operating systems.
Reference: 202035090
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