Trust Officer at First State Bank and Trust – Bayport, Minnesota

First State Bank and Trust seeks motivated individuals to help our clients and community achieve more. It's a formula that has worked for over 100 years serving the St Croix Valley community. As guides, we work alongside our clients every step of the way, helping them achieve more because we believe achievement is more than a transaction; it's a journey.

And this is the same philosophy that extends to our team. By building a culture of care and commitment, we do more to help our employees achieve more. Focusing on development and career growth, we look to guide our employees on their career journey by providing resources to build and strengthen skills and actively give back and support our community through volunteer outreach and engagement.

We look forward to welcoming you to our team, so we achieve more, together.

Join the First State Bank and Trust team!

Job Summary

The Trust Department’s mission is to set up and manage trust funds for clients, as well as to advise clients on what investments to make while managing their assets.

The Trust Officer is responsible for growing and retaining Trust Client relationships, as well as onboarding and servicing these clients. This position works closely with Trust Administration and Trust Operations Departments, as well as other business development positions throughout the organization.

Every department depends on the Trust Officer to do his/her job well. Any error can create more work and questions for other departments as well as lower client satisfaction. Errors made by this position can result in loss of clients’ business, loss of clients’ confidence, loss of revenue, increased expense, regulatory problems, etc.

Job Description

Develop referral networks to meet and attract clients. Respond to leads as quickly as possible in a professional manner.

Performance Standards / Competencies:

• Work with team on a well-defined marketing strategy.
• Stay current with national, regional and local industry trends to reinforce your industry expertise.
• Develop a network of referral sources by working closely with centers of influence.
• Spend time in the community representing the organization and generating business by meeting with prospects, attending networking functions and attending community events.
• Effectively onboard prospects.
• Actively use First State Bank and Trust collateral materials.
• Work with team to present seminars on trust and investment topics as opportunities are available.
• Make sales presentations to prospective clients for opportunities including investment management, IRA’s, employee benefits, etc.

Effectively Onboard and Service Trust Clients

Performance Standards / Competencies:

• Advise on and manage client investments.
• Review, understand and interpret trust agreements, wills, contracts, and other estate planning documents to limit regulatory and legal risk.
• Regularly communicate with outside advisors and with individual clients to fully understand the client’s needs and deliver an excellent client experience.
• Discuss and explain complex tax and estate planning concepts and trust terms with beneficiaries and financial advisors.
• Follow procedures to accurately open new accounts.
• Research various laws including statutory requirements, probate rules, and court requirements and applying knowledge of these laws to unique circumstances.
• Responds to client inquiries regarding problems and questions while maintaining proper correspondence and legal files.
• Coordinate with the team to carry out account administration and to deliver financial reporting and planning materials for accounts.
• Works with the team to develop and strengthen systems and processes to enhance the client experience, achieve account objectives, simplify operations, improve efficiencies, and mitigate risk.
• Review and approve money movement transactions, tax and accounting treatment and confirm authorizations from clients, practice specialists, etc.
• Pay all taxes due in a timely manner.
• Ensure beneficiaries are properly notified and that assets are distributed according to terms of wills.
• Ensure trusts are carried out in accordance with agreements.
• Ensure trust income is collected, distributed and invested and that the principal is properly managed in accordance with agreements.
• Remain current on policy or procedures changes and new product offerings.
• Attend continuing education training, etc. to maintain licenses and knowledge in required areas of expertise.

Benefits:

• Medical
• HSA
• FSA/DCFSA
• Dental
• Vision
• 401(k)
• 401(k) Match
• Profit Sharing
• PTO
• ESST
• MN PFML
• Life Insurance
• ST Disability
• LT Disability
• Education Reimbursement

• Bachelor's Degree required.
• Advanced designations, such as CTFA, CFP, CPA, etc. is preferred.

Minimum Qualifications

• 10+ years of successful experience in trust administration, servicing, and managing fiduciary relationships.
• Technically proficient in fiduciary law, tax investments, and administration.
• Demonstrated ability to attract and retain high-net-worth clients.
• Demonstrated expertise in assessing a client’s financial needs and making proactive recommendations.
• Demonstrated record of proven sales ability and client service abilities.
• Ability to read, analyze, and interpret financial reports and legal documents.
• Excellent judgment and independent thinking skills.
• Maintains current knowledge of Federal and State laws and regulations, as well as industry best practices.
• Strong organizational skills and resourcefulness.
• Excellent listening, written, and verbal communication skills.
• Strong attention to detail and ability to function effectively in an environment with deadlines and shifting priorities.
• Evidence of the practice of a high level of confidentiality.
• Proven customer service skills and the ability to resolve problems and prevent customer dissatisfaction.
• Demonstrated ability to work well in a team environment.
• Flexible, versatile, resilient, and able to work additional hours and days as needed.
• Analytical.
• Proven ability to deliver results.
• Flexible and adaptable.