Assistant Trust Officer
Company: Valley Bank
Location: Paramus
Posted on: March 17, 2023
Job Description:
The Assistant Trust Officer will be responsible for the Trust
Department meeting its reporting requirements to clients,
management, regulators and other parties, as necessary. Duties
include preparation and review of client reports, preparing for
in-person and/or virtual meetings, and facilitating discretionary
distributions. Responsibilities include, but are not limited
to:
- Assist in trust administration, including review and synopsis
of governing instrument, processing of payment requests,
correspondence with beneficiaries and other interested parties,
review of required tax filings, and termination/distribution of
assets upon occurrence of a terminating event.
- Assist in estate administration, including review and synopsis
of documents, collection and valuation of assets, coordination of
preparation, and filing of estate tax and income tax returns,
gather documentation and records needed for the preparation of
accountings, and distribution of assets.
- Assist with all Trust Department accounts to ensure the
accounts are properly managed according to their specific terms and
conditions as outlined in each agreement; ensuring proper
documentation is maintained for each of these accounts and all
transactions are properly authorized and ensuring the accounts are
monitored for compliance with all AML/BSA requirements.
- Assist in the sales process including preparation of
presentation materials; attend conferences; and client meetings as
needed.
- Assist with the following trust administrative activities:
- Recurring account review related to Reg (9) and related
policies
- Prepare minutes for Account Oversight Committee (AOC) and
Discretionary Payments Committee (DPC)
- Discretionary and non-discretionary open items
- Missing documentation report
- Maintain procedure manuals
- Onboarding new accounts
- Review all new accounts opened to ensure all CIP documentation
has been completed and is contained in customer file.
- Check for OFAC compliance for new accounts
- Complete all required training assigned by Valley Bank
Keywords: Valley Bank, Paterson , Assistant Trust Officer, Other , Paramus, New Jersey
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