What does a Trust Associate do?
Trust officers offer clients trust-related services at a trust company, bank, or investment management firm and are often the primary point person for trust clients and their advisers. They administer and manage trust accounts and ensure account administration complies with federal and state laws. They handle individual and business accounts and sometimes oversee aspects of large or corporate trusts, including calculating disbursements or preparing appropriate tax forms. They may also be involved in investment decisions and trust execution.
Trust officers ensure the accounts they oversee meet all federal and local laws and file relevant taxes correctly and on time, confirming that applicable tax payments are made, and disbursements to recipients are reported to the IRS. They assist with opening and closing accounts and ensuring they are set up properly and according to a bank's policy and federal and local regulations. Trust officers need a minimum bachelor's degree in business, accounting, or related fields and several years of experience in investment banking, trust administration, or related fields.
- Provide exceptional fiduciary, personal income, gift, and estate tax compliance services as well as estate planning advisory services.
- Provide leadership and be responsible for the quality delivery of services to exceed the expectations of our clients.
- Review and analyze account statements from various brokerage houses and financial institutions' mutual fund statements.
- Review inventories and accountings and understands and manage the probate process.
- Research Federal, State, and International tax laws, prepare tax memorandums on technical topics and develop tax savings strategies.
- All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities.
- Responsible for evaluate, investigate, gather and present financial data, tax information and credit documentation for verifying a client's' credit worthiness.
- Review and initiate loan documents for legal and structural considerations making sure they are following policies and regulations.
- Consult with relationship managers and portfolio managers in preparing customer information for credit review and loan presentations.
- Remain flexible and taking on other due diligence and portfolio maintenance responsibilities to enable the success of the bank.
- Work with marketing, communications, and product to help lead our external outreach and engagement with industry bodies to help influence standards and our reputation in the marketplace.
- Work with business, product and legal to determine our appropriate legal status under legislation based on our uses of data.
- Associate's or Bachelor's Degree in business or business administration.
- Experience with applicable programs, software, and systems such as GIAC and CISA.
- A natural leader and decision maker who can utilize critical thinking and attention to details.
- An eye for problem solving in a collaborative manner.
- Demonstrated fluency in products, services, and pipelines.
- Fluent in legal documentation when necessary.
Trust Associate Career Path
Learn how to become a Trust Associate, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Trust Associate Insights
“The pay isn't the best and it's certainly not worth the suffering and anguish that awaits you.”
“medical benefit and holidays are good”
“Good work and team wotk”
“Great and supportive team to work with.”
“Pay was okay but not much better really”
“Fine good nice art best”
“Good awesome amazing great nice”
“Best opportunity to grow your career and fulfill my dreams”
Trust Associate Interviews
Frequently asked questions about the role and responsibilities of a Trust Associate
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