MB Financial Bank Senior Trust & Estate Administrator - 6111 N. River Rd in Rosemont, Illinois
This position is responsible forproviding day-to-day transactional and other services and support required in the administration of trust, estate and related accounts, with a focus on accounts which require the administration of duties at a higher level of complexity. Administration at this level leverages Trust, Estate and Estate Settlement Advisors and Managing Directors (hereinafter “Advisors”) to their highest possible level of client advisory service and business development. Such service and support includes providing effective and efficient administration, as well as communicating with clients and external points of contact (centers of influences and vendors) as needed.
This position has direct responsibility for the administration of an abbreviated book of small personal trusts, guardianships and related accounts, effectuating efficient administration and communication. Moreover, this position may be focused, at the discretion of the Management, on providing further support to Managing Directors to leverage their outreach into the market and/or oversight of internal operations and process.In the performance of all duties, this position is responsible for properly utilizing the Bank’s resources to meet the needs of clients and is expected to adhere to external and internal compliance requirements, as well as established policies and procedures within the Bank.
**ESSENTIAL DUTIES AND RESPONSIBILITIES
These are the most significant job duties performed. The size, scope and complexity of assigned duties and responsibilities are dependent on the level and experience of the incumbent. To perform this job successfully, an individual must be able to perform each assigned essential duty satisfactorily. Other responsibilities or special projects not specifically mentioned may also_ be assigned.
Direct Responsibility for Abbreviated Book of Small Accounts
Administer select assigned group of client relationships, including accounts in settlement phase, as assigned.
Act as in-person contact to clients, clients’ families and representatives.
Coordinate with support personnel and Trust Tax, Trust Operations, Investment Management, Special Assets, Central Services and Compliance teams to ensure proper completion of work flow.
Handle day-to-day incoming mail, calls, emails and faxes from all parties associated with accounts.
Prepare letters and other forms of correspondence directed to clients, clients’ families and representatives, vendors and centers of influence.
Partner with Central Services in the preparation and execution of account opening and closing documentation.
Review and approve payment of vendor invoices.
Partner with Central Services to process changes on the trust accounting system for various accounts when necessary.
Respond to audit, compliance and examination requests.
Manage at risk business and work with Managing Directors to manage account litigation.
_Client Service and Retention
Review daily trial balance for all accounts.
Prepare and/or approve annual administrative account reviews and resolve exceptions by deadlines.
Review and manage daily transactions in light of client needs, fiduciary parameters and cash balance management.
Review daily cash reports to manage cash balances, avoiding all cash overdrafts.
Works with Trust Central Services to promptly marshal a trust’s, estate’s or individual’s (hereinafter referred to collectively as a “client”) assets and provides for proper management.
Reviews cash inflows and outflows within client accounts and works with Portfolio Manager to ensure that there is sufficient cash for distributions, payments, administrative expenses, fees, debts and taxes.
Coordinates with Trust Central Services and Trust Operations to timely process all approved, distributions, payments and deposits, monitoring daily transaction reports, other computer derived data and client contact to ensure quality and accuracy, coding all outflows and inflows accurately.
Sets up and monitors accounts with vendors to process insurance claims for reimbursement of medical expenses, as well as payments to other types of vendors.
Works with clients, attorneys, Trust Tax and other Bank departments to plan for accurate and timely tax compliance.
Communicates regularly with appropriate parties associated with client accounts; responds promptly to client inquiries and concerns, and anticipates the objectives and needs of clients with a view to enhancing client relationships with the Bank.
Prepares and mails documentation for client signature related to cash distributions.
Prepares all aspects of Discretionary Requests for review by the Advisor, including collection of all data and documents required of the petitioning beneficiary or beneficiaries.
Monitors and coordinates all aspects of production of Inventories and Accountings with Trust Central Services as needed.
In accordance with established timeframes, coordinates with Trust Central Services and Trust Operations to open accounts, close accounts and arrange for proper fee set up.
Maintains schedule of due dates and court-approved budgets and apprises Advisors of status.
Assists Advisors with client contact as needed.
Maintains regular and detailed communication with members of the administrative staff and Trust Tax, Trust Operations, Trust Central Services, Investment Management, Special Assets and Compliance teams to allow other teams to manage risk throughout the period of account management.
Maintains orderly client account files.
Coordinates and tracks gift ordering for holidays and client birthdays.
In the context of performing the position’s core duties, communicates regularly with clients, the families and representatives of clients and centers of influence to assist in the capture of new assets and the retention of recapturable assets distributed to estate and trust beneficiaries.**
Assists in the recognition and pursuit of new trust, guardianship and banking business opportunities.**
Prepares materials for client meetings and Wealth Management collateral for prospects.**
Leverages Advisors and Managing Directors in all identifiable ways which enable those professionals to focus on building the personal trust and estate businesses.
Account Reviews and Exceptions
Prepares all aspects of account reviews for Advisor review, completion and approval on a monthly basis.**
Works with Advisors to develop a plan to clear account review exceptions and prepares necessary documentation for same, keeping all internal parties consistently apprised of progress and obstacles.**
Prepares Investment Policy Statements and delivers to proper parties for signature. Tracks status of mailings. Delivers executed documents to Trust Operations.**
Responds to audit, compliance and examination requests.
Administration and Teamwork_
Works proactively with members of the administrative staff and Trust Tax, Trust Operations, Trust Central Services, Investment Management, Special Assets and Compliance teams to ensure proper completion of work flow.**
Responds positively to demands and changes in departmental environment, focusing on deepening the effectiveness of the team through meeting challenges. **
Complete all required training by deadlines.
Manages discrete and ongoing project work from beginning to end, consistently informing all stakeholders of status and of obstacles that need to be managed.**
Develops deep institutional knowledge so as to identify and manage cross-impacts._
Understands and complies with all Bank policies and procedures, and federal and state laws and regulations pertinent to this position; stays informed and shares updates on changes with management. Required to successfully complete all required Compliance training.
Complete all required training by deadlines. Understand and comply with all Bank policies and procedures, and federal and state laws and regulations pertinent to this position; stays informed and shares updates on changes with management.
Continuously supports the Bank’s Mission Statement and Core Values.
Other projects and duties as assigned.
Supervisory Responsibilities_ (Team Lead Only)
Coordinates and leads the full team of Trust and Estate Administrators, at all levels, to manage all resources and processes to efficiently accomplish all duties and responsibilities as itemized above.
_The requirements listed below are representative of the knowledge, skill, and/or ability required to perform this job successfully. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
**_Education and Work Experience
Bachelor’s Degree and 5-7 years of related experience; or equivalent combination of education and experience.
**_Job –Specific Knowledge
To perform this job successfully, the individual needs to demonstrate knowledge of these areas as they relate to the primary functions of the job.**_
Fiduciary Analysis - demonstrated experience with identifying and managing all fiduciary issues and obligations as emerge from corporate fiduciary roles as delivered to the private wealth market, including, but not limited to trusteeship, guardianship, and the executor or administrator of decedents’ estates.
Business Analysis -demonstrated experience with identifying trends and tracking key deliverables and risks such as: costs associated with proposed changes to programs and systems; and effectiveness of programs year-over-year in improving overall performance and achieving desired business results.
Customer Service -Highly professional demeanor with excellent telephone skills and etiquette. Utilizes various interpersonal styles and communication methods to positively assist and influence customers.
Finance & Accounting -Intermediate knowledge of accounting principles, bank accounting and general ledgers, operating procedures within accounting/finance area, applicable laws, regulations and practices, financial markets, financial analysis, and reporting of financial data.
Information Technology–Understanding of security threats and the design, processes, and operation of a comprehensive security control environment.**
Project Management -Knowledge of project coordination, identification of business needs, work plan, budget control, time management, resource allocation, team management and status reports. Must demonstrate leadership, logic, and reasoning skills.Identify risks/issues affecting project work progress and recommend solutions.Those in a technology related position must also have strong technical knowledge.
Risk/Compliance - Knowledge of one or more of the following: Auditing, System Auditing, Fraud Prevention, Risk Management, Compliance Administration. This includes knowledge of all applicable local and federal laws and regulations.
Training – demonstrateswell-developed presentation skills to ensure training programs are delivered successfully and attendees are satisfied with results. Familiar and comfortable facilitating training programs in multiple environments such as in-person classroom; webinar; audio conference.
_To perform the job successfully, an individual should demonstrate the following competencies.
Expert-level user of Windows applications and Microsoft Office programs such as Word, Excel, PowerPoint, Access.
Thorough knowledge of software applications applicable to position/business unit.
Quickly learns and achieves proficiency in new software applications, as needed.
Understands and is familiar with the most widely known and emerging tools, technologies and social applications.
Demonstrates strong math aptitude.
Identifies opportunities to increase accuracy and optimize resources.
Strong aptitude for understanding and analyzing large amounts of data from multiple sources.
Performs complex analysis of data, processes, policies and procedures.
Develops insightful, value-added and actionable analyses.
Composes thorough and detailed written documentation.
Writes clearly and informatively.
Presents organized and thorough information and data.
Utilizes variety of interpersonal styles and communication methods to effectively adapt to new work structures, processes, or cultures.
Time Management Skills__**
Demonstrates follow-up skills.
Provides timely and professional support to all internal/external customers and vendors.
Prioritizes regular workload, special tasks and concurrent projects, allocating time and resources to ensure that work is completed accurately and efficiently within established time frame.
Consults with team members and management, as needed, to complete assigned responsibilities.
Establishes and maintains effective, collaborative work relationships, both internally and externally.
Consistent physical presence in the assigned office location(s).**
**PHYSICAL DEMANDS & WORK ENVIRONMENT
_The physical demands and work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel; and to talk or hear.
The employee is frequently required to stand; walk; sit.
Must be able to lift / carry 10 pounds.
May spend significant amount of time on phone due to conference call meetings.
- Office / cubicle work space with moderate noise level.
_Hours of Work
Normal business hours with occasional overtime, as needed.
Local travel between branches or other locations as required.
Job is frequently fast-paced and deadline sensitive.
Stress levels may increase due to special projects and/or during peak times.
MB Financial is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.**
As a part of the MB Financial hiring process all applicants will be required to submit to and pass a pre-employment urine drug screening.**