Trust Operations Specialist in Bayport, Minnesota at First State Bank and Trust

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 as well as 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 Description

The Trust Operations Specialist is responsible for posting dividends and incoming cash deposits, posting promissory note payments, posting and processing fees, completing operational opening and annual account reviews, and backing up other positions when others are out of the office. To succeed in this position, you need to be organized, detail-oriented, accurate, have a good memory, and be excellent at multitasking.

Maintain Pledged Account Records

Maintain all pledge account records for the trust department.

• Maintain the pledge account records in MAUI
• Complete monthly reporting to Lending with current balances of trust accounts pledged for loans
• Confirm pledges for loans outside of FSBT periodically.
• Notify officers of any changes or issues regarding pledged accounts
• Complete other duties as assigned.

Process Client Investment Dollars

Handle the posting of incoming cash, investment earnings, dividends, and interest into clients’ accounts

• Ensure the following is accurately posted into clients’ appropriate accounts on a timely basis:
• Incoming cash for investments.
• Investment income, dividends, and interest payments from brokers as found on system-generated maps.
• Maintain complete and accurate documentation and evidence of account balancing.

Consolidate Records of Each Client’s Portfolio of Holdings

Enter the client’s assets from other institutions into the Trust’s systems monthly.

• Ensure that all a client’s investments are accurately reflected in his/her portfolio on the Trust system.
• Maintain complete and accurate documentation and evidence of account balancing.
• Complete other duties as assigned.

Post and Process Fees

Once the Trust Officers have approved them, the Trust Operations Specialist processes fees.

• Review fee calculation worksheets for accuracy.
• Accurately post and process fees.
• If needed, accurately bill clients.
• Complete other duties as assigned.

Review Pricing Exceptions

Some client assets require manual pricing on a periodic basis. These prices need to be researched and entered into MAUI monthly, as needed.

• Review the monthly report of pricing exceptions.
• Enter prices in MAUI for asset prices that were not priced by the Infovisa Pricing Service.
• Report assets with outdated prices to Trust Officers when the asset price is not available with reasonable research.

• 2 or 4-year college degree, preferably in Business Administration, Accounting, Finance, or a related field, or equivalent work experience.

MINIMUM JOB QUALIFICATIONS:

• Experience in reconciling accounts and balancing transactions is preferred.
• Previous experience in trust administration or financial services is preferred.
• Must be able to multitask numerous responsibilities
• Ability to read, analyze, and interpret financial reports.
• 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.
• Strong attention to detail and ability to function effectively in an environment with deadlines and shifting priorities.
• Proven customer service skills and the ability to resolve problems and prevent customer dissatisfaction.
• Knowledge of MS Office, especially spreadsheet applications, as they pertain to financial analysis. Strong working knowledge of Microsoft Excel.

Benefits

• 401(k) matching
• Profit Sharing
• Dental Insurance
• Vision Insurance
• Disability Insurance
• Employee Assistance Program
• Flexible Spending Account
• Health Insurance
• Health Savings Account
• Life Insurance
• Paid holidays
• Paid Time Off
• MN PFML
• Sick and Safe Time

First State Bank and Trust and Valley Agencies is an equal-opportunity employer committed to creating a diverse workforce. We support a work environment where colleagues are respected and given the opportunity to perform to their fullest potential. We consider all qualified applicants regardless of race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability, or veteran status, among other factors. Drug-Free Workplace.