Trust Officer I, Private Bank Centernew

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined.  Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience.  While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES & RESPONSIBILITIES:

Client Service

·       Coordinates services for a portfolio of Personal Trust accounts, consisting of mostly primarily agency, IRAs, and custody accounts.

·       Reviews, supports, and approves or declines discretionary action requests, including distributions in accordance with the underlying document and according to Bank Policy

·       Administers multigenerational trusts, often with discretionary income and principal payments distributed among multiple family members while managing financial and compliance risks

·       Executes the terms of estate plans or documents for which Fifth Third Private Bank serves as Trustee, Executor, Personal Representative, Guardian or Agent, often exercising broad discretion regarding issues among and
between beneficiaries with competing interests.

Account Administration

·       Completes annual administrative account reviews and other compliance responsibilities.

·       Engages in fiduciary decision-making.  Executes decision and manages financial risk in best interest of the clients. 

·       Retains client base by adhering to established client contact standards and ensure the involvement of al team members, as necessary.

·       Works with IM&T Affiliate Support Center (IASC) to open and close accounts, process transactions, and maintenance accounts. Ensures proper documentation requirements are met to ensure compliance with Fifth Third Bank internal policies and procedures regarding client and asset acceptance and discretionary actions. *Works closely with Trust Tax Accountants to ensure proper tax reporting.

·       Oversees and ensures that all accounts, fees, statements, asset transfers, and internet set-up are complete and accurate.

Sales/New Business

·       Acquires additional assets (account additions) from existing clients. Identifies other bank products and services to enhance and deepen existing client relationships, utilizing a Wealth Management Advisor, as necessary.

·       Interacts with sales force, in coordination with Portfolio Managers, to ensure a high quality client on-boarding experience into IM&T.

·       Communicates with clients and sales force through the entire on-boarding process from start to finish to set and exceed expectations.

Other

·       Demonstrates sound decision-making skills, including balancing business risks to Fifth Third Bank with clients’ best interests.

·       Seeks advice and counsel from Senior Trust Officers and Regional Fiduciary Executives when faced with challenging technical or relationship management situations, as necessary

·       Champions the Bancorp Vision and Core Values through personal actions

·       Recommends enhancements to policies and procedures, when appropriate

·       Continually develops and maintains 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), including attending forums, conferences, and/or meetings addressing such matters.

·       Participates actively in community affairs and professional associations.

SUPERVISORY RESPONSIBILITIES:

·       Assists with supervision and training of Trust Associates and support staff.
 

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

·       Bachelor's degree preferred or related experience required.

·       5+ years experience in financial services.

·       Effective client relationship skills and experience

·       Demonstrates knowledge and skills in the areas of trust administration, estate planning strategies, and income, gift and estate tax matters.

·       Demonstrates effective time management skills and the ability to multi-task and prioritize work.

·       Exhibits strong interpersonal communication skills.

·       Uses effective problem solving and analytical skills.

·       Desires a fast-paced team environment, working with experienced professionals from multiple disciplines to deliver high quality client service.

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