POSITION SUMMARY:
We believe solid planning requires special expertise and a team approach. Our team includes individuals with financial planning, investment management, tax and legal expertise, dedicated to working with our clients to plan, grow and protect legacies across generations. This position is responsible for coordinating with all areas of the Department to facilitate tax preparation, provide consulting on tax matters and administer complex client accounts.
ACCOUNTABILITIES:
Account Administration: 40%
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- Responsible for retaining, servicing, and growing current assigned client relationships.
- Administer accounts consistent with governing documents, applicable laws, regulations, policies and procedures.
- Initiates regular client communications via telephone, e-mail, in writing, and in person. Exercises independent judgment in resolving client inquiries and responds to client requests in a timely and professional manner.
- Responsible for overall management of the client relationship for accounts developed or assigned.
- Coordinates client communications and works closely with Department employees on administrative, operational, investment, and insurance issues to ensure the quality of the client experience.
- Coordinates with Investment team to ensure appropriate investment of client assets.
- Serves on Trust Administration Committee and participates in monthly account review process.
- Authorizes account investments and account disbursements.
- Coordinates with attorneys and CPAs in preparing Annual Reports, Financial Case plans and tax returns for assigned Trusts, Conservatorships and Estates.
Tax Manager and Consultant: 30%
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- Responsible for the planning, oversight, coordination and review of Fiduciary Income Tax Returns where FCB serves as Trustee. This may include actual preparation of fiduciary returns or coordination with outside CPAs.
- Address tax preparation issues, such as taxable income and expense allocations, specific deductions, income distributions, relation of principal and income law regarding distributable net income and the treatment of capital gains and losses.
- Research and prepare training and reference resources for internal teams on tax issues.
- Support and contribute to the establishment of effective and efficient tax processes and procedures for filing complete, accurate and timely returns.
- In coordination with Trust Operations Officer, reviews and recommends improvements to internal trust accounting systems, including data integrity and transaction coding.
- Reviews tax forms generated by Trust Account System and coordinates with Trust Operations Officer to resolve issues.
- Coordinates internal processing of tax payments.
- Provides consulting to other team members and their clients on tax planning issues.
Compliance: 20%
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- Maintains current understanding of regulations as they relate to Fiduciary and Investment issues.
- Pursues training, educational and self-development opportunities—not only to assure mandatory CE requirements are satisfied but to increase skill level and remain current on tax, financial, estate, investment, and retirement developments and laws.
- Complies with federal, state and local legal requirements by filing tax returns; studying existing and new legislation; anticipating future legislation; advising management on needed actions.
- Maintains client confidence and protects Wealth Management operations by keeping information confidential.
- Attends mandatory compliance and security sessions.
- Monitors daily work for adherence to compliance and security regulations, policies/procedures, and promptly corrects any deficiencies.
- Assists with internal compliance reviews including updates to policies and procedures to diminish risk.
- Contributes to team effort by accomplishing related results as needed.
- Serves on Trust Operations & Compliance Committee.
- Assists with internal audit and oversight.
- Assists with exam preparation and follow up.
- Delegates effectively to team, including supervision responsibilities, if applicable.
Account Development: 5%
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- Develops new business and identifies opportunities in existing relationships.
- Provides consultation and expertise in fiduciary services, coordinating with attorneys and CPAs to support estate planning efforts.
- Works in collaboration with other Trust Officers, Wealth Advisors, Trust Investment Officers, Registered Representatives, Retail Managers, Lenders, and other organization contacts on cross-selling opportunities.
- Represents the Organization by being active in the community. Actively participate in service organizations, community activities, etc. to promote a positive organization image and to generate leads for the new business efforts.
- Promotes and participates in business development efforts both individually and in cooperation with others in Department or the organization.
- Develops and deepens relationships with centers of influence, responds promptly to internal and external referrals, attends organization functions, and works closely with other areas of Wealth Management.
- Attends networking functions such as Chamber breakfasts and social events, etc.
Other Duties: 5%
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- Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies.
- Prepares activity and status reports regarding prospects and business development activities.
- Understands basic operational concepts.
- Contributes to team effort by accomplishing related results as needed.
- Delegates effectively to administrative assistant staff.
- Travels to branch locations as needed.
- Additional duties as assigned.
