Specialist, Private Trust Services in Carmel, Indiana at Oxford Financial GRP

Department:	The Private Trust Company of Oxford™
Reports To:	CEO, Private Trust Company of Oxford
FLSA Status:	Non-Exempt

POSITION SUMMARY

The Specialist, Private Trust Services supports the Officers, Private Trust Services with the administration of all trusts. Executes various processes and procedures designed to ensure that all trusts are administered according to the terms of the document and within the regulatory guidelines. Executes on operational activities related to account opening, administration, funding and disbursements/distributions.

DUTIES AND RESPONSIBILITIES

Administration

Prepare annual and 60-day trust administrative compliance reviews for approval by the Officer, Private Trust Services and ComplianceInteracts with Officer, Private Trust Services to coordinate daily client activity, oversees transaction processing, handles inquiry resolution and obtains appropriate documentationHandle all account opening and administration including initial set up in all systemsExecute and reconcile all cashiering activities including systematic and discretionary distributionsSystem administration including ensuring that all trusts are entered and coded into all of Oxford systemsMaintains accurate account info, updating systems when necessary

ILIT Management

Completes account opening checklist and ensures all tasks are completed Reviews accuracy of all policy details received or purchased and establishes on FidelityUpdates market value (cash values) in Fidelity whenever in force illustrations are obtained, no less frequently than annuallyPrepares and mails premium notices to grantors on a timely basis, taking into consideration the beneficiary withdrawal windowEnsures payment of premiums (the contribution) are received in the proper timeframe to meet premium deadlinesPerforms proper follow-up as necessary for payments not received on timePrepares and mails crummey notices to beneficiaries within specified timeframe indicated in trust documentCoordinates ILIT billing and maintains ILIT databaseMaintains complete and accurate ILIT filesChanges addressesPays billsPerforms distributions

Coordinates The Private Trust Company of Oxford™ (PTCO) tax preparation and processing of payments

Tracks tax returns from PTCO outsource provider for review by Officer, Private Trust Services for all 1041 tax returns on SmartsheetObtains sign off from Officer, Private Trust Services, prepares tax payments for tax due or refundsGenerates year-end tax worksheets or supplemental reports for delivery to outsourced tax accountantsMails final returns to IRS, obtains appropriate postal receipts and places in fileReconciles and collects tax preparation feesAssists in estimated tax payments process Works with Officer, Private Trust Services to generate estimated tax payments due, checks for cash availability and initiates appropriate cash needsSubmits estimated tax payments and meets all reporting deadlines

Other duties

Assists with audit items (internal and regulatory) as needed from ComplianceAssists with preparation of Call Report quarterly for submission to proper regulatory authoritiesUpdates and maintains Delaware Trust assets and valuesCoordinates annual special asset feesReviews and assesses legal documents to ensure the accuracy of systematic coding and ensure complianceMonitors and evaluates the impact of any changes in legal fiduciary, accounts and estates to ensure prompt actionPrepares Investment Policy Statements for Officer, Private Trust Services and Managing Director signature

QUALIFICATIONS

College degree in a related field or equivalent experience in a related field3+ years of financial services operational experience requiredExcellent written, verbal and interpersonal communication skills; able to interact effectively with internal and external stakeholdersProficient with Microsoft OfficeHighly organized and detail‑oriented; able to manage multiple priorities, tasks and deadlines concurrentlyProven analytical and problem‑solving skills with ability to produce accurate, data‑driven workProfessional demeanor with an uncompromising respect for discretion and confidential mattersAble to work both independently and as part of cross‑functional teams; demonstrated ability to execute projects or workstreams and follow through to completion

WORKING CONDITIONS

Long periods of sitting, utilizing a computerThis is an onsite role working in from the office full-time