Hybrid Trust Operations Associate chez Jefferson Bank

JOB FUNCTION:  

The Trust Operations Associate will perform tax-related functions. Tax-related functions include identifying and assigning tax forms/documents for various account types, being responsible for the accuracy of reporting tax related transactions and resolving issues identified by the Tax Vendor.  This position will also serve as a back-up to other positions within the Trust Department, gaining valuable experience across different operational areas. 

DUTIES & RESPONSIBILITIES:

• Responsible for reviewing fiduciary tax returns, ensuring completeness and accuracy
• Responsible for collaborating with outside CPAs in the control and review of fiduciary returns and IRS forms
• Ensure accurate and timely 1041ES Estimate Tax Payments and 1040ES Federal estimated tax payments via check or through the EFTPS system
• Ensure timely preparation, distribution and filing of all 1099 and Tax Documents for Trust and Private Asset Management Clients including determining the reallocation of dividends and other income into appropriate tax categories
• Work with the current tax vendor and Trust application vendor to modify system tax settings and produce uploads as needed 
• Identify and research income variances between Mineral Operator 1099s and Maui Income reports
• Responsible for cash reconciliation and reconciliations of custodial holdings 
• Ensure issuance and reconciliation of trust receipts and disbursements, (Checks, Wires, ACH)
• Responsible for compiling Trust Board Committee materials for the Board Packet
• Prepare requested materials for Bank examiners and internal audits
• Responsible for outgoing and incoming wire transfers
• Coordinate the accurate filing of documents into account image folders
• Responsible for preparing various internal reports supporting quality control for the department 
• Serve as a backup for performing market securities settlement, trust income collections, trust distribution issuance, customer statement reporting and tax reporting, presentation of regulatory audit request and securities litigation
• Serves as a backup for opening and closing of new accounts (onboarding and transferring assets); participate in the pre-acceptance process for all accounts in the Trust Operations Department
• Perform other duties as assigned

MINIMUM QUALIFICATIONS:

Work Experience

• 3 to 5 years of tax related/bookkeeping experience
• 3 to 5 years in Trust Operations (preferred), banking operations, or similar heavily regulated financial services company operations department, with in depth experience related to market securities settlement
• Working knowledge of federal regulatory issues impacting the financial services industry.
• Experience using MS Word, Excel, Outlook
• Demonstrated organizations skills and a self-starter
• Proven proactive problem-solver, identifying efficiencies, problem areas and potential improvements supporting key business objectives
• Excellent communication skills, and the ability to relate to all levels of the organization

Preferred Experience (Optional)

• N/A

Supervisory Experience 

• N/A

Position Includes Driving 

• N/A

Education/Skills                             

• 4-year college degree

Equipment/Machines

• Excellent computer literacy in all Microsoft Programs (Outlook, Word, Excel, and Power Point) 
• Proficiency in Adobe Reader
• Experience with internet, search engines, browsers and general PC connectivity.
• Ability to work with office equipment such as copiers, scanners, shredders, fax and 

other electronic devices.

Competency Requirements

• Proven organizational skills, analytical skills, with ability to shift priorities and follow assigned tasks through completion.
• Excellent Oral and Written skills.
• Ability to focus with a high degree of analytical abilities.
• Ability to work independently with minimal supervision.
• Must have high attention to detail with ability to focus on assigned tasks.
• Must be accustomed to a fast-paced office environment

Physical Requirements

• Must be able to reach, bend and lift file boxes up to 40lbs

• Must be able to sit for most of the day in front of a computer
• Must be able to type on a keyboard 
• Must be able to speak to and hear customers
• Must be able to read a laptop/desktop computer monitor 
• Must be able to be mobile in an office environment

 This job description does not imply an employment contract, nor is it intended to include every duty and responsibility for which the employee is responsible. Duties and tasks may be assigned by the management team based on department and business needs.

This job description does not imply an employment contract, nor is it intended to include every duty and responsibility that employee is responsible.   Duties and tasks may be assigned by management team based on department and business needs.

Jefferson Bank is an EEO employer and an Affirmative Action Employer, M/F/Disability/Protected Veteran Status.

Click The Link Below To Be Redirected To The Equal Employment Opportunity Commission’s Website To View The “Know Your Rights” Poster

https://www.eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12ScreenRdr.pdf