The primary responsibility of the Trust Administrator is to work with and provide direct support to the Director of Trust Administration in the management of the Officer’s trust account relationships. The position requires interaction with trust clients, professional service providers and collaboration with internal contacts at all levels of the organization.
Primary responsibilities of this position include:
- Manage trust contributions – checks, wires & ACHs. Determine proper receipt to income and or principal.
- Process daily ad hoc distributions.
- Review daily transaction report for errors and monitor account activity.
- Manage daily overdrafts – determine cause and take corrective action.
- Manage scanning of documents for file retention and client requests.
- File documentation.
- Prepare & submit discretionary requests of income & principal for TAC. Follow up with client(s) as necessary.
- Enter distribution and statement requests/changes.
- Add/adjust asset holdings for accounts as necessary with follow-up, e.g. mortgage & note payments.
- Coordinate new account opening process and prepare documentation.
- Prepare contracts, mail & track to completion.
- Apply for trust tax identification numbers as needed.
- Prepare delegation of investment authority, track to completion and properly document.
- Coordinate receipt of new account assets, manage with transferring institution, ensure proper lots, tax basis and acquisition dates input into The Haverford Trust Company (HTC) systems.
- Ensure proper documentation & valuation of any closely held business interest.
- Create new HTC trust file.
- Prepare & mail required Pennsylvania Uniform Trust Act notices. Follow up to any responses as required.
- Coordinate tax information with vendor and follow up with other institution to obtain proper documentation.
- Set up beneficiary payments and statements.
- Coordinate account terminations.
- Monitor preparation of receipt & release/family settlement agreements, mail to interested parties and track to completion.
- Manage accounting preparation process, coordinate gathering of information/statements in storage, track completion of draft, oversee any correction/changes, coordinate any updates and obtain information as necessary.
- Pay account preparation fees and trust counsel fee.
- Ensure tax payments are up to date and coordinate termination with tax preparation vendor.
- Ensure proper division of trust assets.
- Coordinate transfer for assets to beneficiaries.
- Work with Investment Officer & Portfolio Manager team for cash needs.
- Ensure all distributions stopped and final statements issued, turn off sweep.
- Track account closing with Trust Operations.
- Manage annual Unitrust/Power to adjust calculations, change annual distribution amounts for all accounts and follow up to ensure operations completion.
- Work with Portfolio Manager/Investment Officer colleagues as part of a team to ensure cohesive management of the trust accounts.
- Assist with annual guardianship reporting.
- Communicating in person, by phone or email directly with clients and the client’s advisors and other professionals.
- Attend client relationship review meetings as necessary.
- BA or BS undergraduate degree is preferred.
- 2 – 3 years’ experience in trust administration or working in financial services preferred. Attendance or certification from a trust school is a plus.
- Excellent oral and written communications skills are required. Must be skilled at dealing with clients via the telephone and projecting the right kind of “customer satisfaction” image that clients expect from Haverford Trust.
- Strong working knowledge in the operation and utilization of computer-based investment management and trust administration systems. Must be computer literate in word processing, financial spreadsheet and client database management software programs.
- Exceptional customer relations and interpersonal skills are required. A commitment to Haverford Trust’s investment style and philosophy and the company’s dedication to its clients.
- Must be well organized, accurate in compiling financial data and very attentive to detail. Must have the ability to multi-task.
- Must have an outgoing personality; someone who can work easily in a team oriented culture and who has a strong understanding of teamwork and delegation.
- Must project a professional image at all times, be highly articulate and be able to engender confidence and trust in others.
- Must have a strong desire to cultivate, nurture and maintain relationships with clients and be service oriented.
- Must have the highest degree of honesty and personal integrity as well as a commitment to Haverford’s philosophy and the firm’s dedication to quality and excellence.
All team members of Haverford are required to comply with internal procedures as well as applicable federal, state, and self-regulatory organizations including, but not limited to, the Bank Secrecy Act of 1970 and the USA PATRIOT Act.
The Haverford Trust Company is an equal opportunity employer. The Company is committed to providing equal employment opportunity to all applicants. All applicants for employment will be provided equal and fair opportunity without regard to race, color, creed, religion, ancestry, national origin, sex, sexual orientation, age, citizenship, disability, medical condition, marital status, status as a veteran or special disabled veteran, or any other characteristic protected by law.
This position may be subject to Haverford’s Political Contribution Policy. An offer of employment may be contingent upon disclosing to Haverford the details of certain political contributions. Haverford may decline to extend an offer or terminate employment for this role if it determines political contributions made could have an adverse impact on Haverford’s current or future business interests, misrepresentations were made, or for failure to fully disclose applicable political contributions and or fundraising activities.