Lead Trust Administrator

2 weeks ago

Tarrytown, New York, United States Midland States Bank Full time

Senior Trust Administrator

Salary Range: $73,500 - $98,000 annually

At Midland States Bank, the base salary is just one aspect of our comprehensive Total Rewards program. The precise compensation is influenced by various factors including education, skills, internal equity, and experience. This role also provides additional financial incentives such as short-term bonuses and potential long-term rewards like stock options. Benefits include extensive healthcare coverage, wellness programs, paid family leave, and generous paid time off. Additional perks encompass banking benefits, an Employee Stock Purchase Plan, a 401K plan with company matching, and opportunities to engage in our Non-Qualified Deferred Compensation plan. Please note that eligibility requirements apply to incentives and benefits.

Position Overview

The Senior Trust Administrator plays a crucial role in managing and nurturing existing relationships with investment management clients, trust clients, beneficiaries, and other stakeholders, in collaboration with the designated Trust Officer. This position is recognized as a leadership role within the organization.

Key Responsibilities

Team Leadership

  • Oversees a team of professionals within a customer-focused environment, ensuring excellence in a dynamic setting.
  • Mentors, develops, and conducts performance evaluations for both direct and indirect reports.
  • Identifies high-potential team members for advanced training and growth opportunities.
  • Effectively manages underperforming team members.
  • May supervise a group of Trust Administrators or Client Associates.

Client Relations and Trust Management

  • Works closely with the Trust Officer to maintain current information on beneficiaries and their evolving needs to fulfill the Bank's fiduciary responsibilities and deliver exceptional client service.
  • Suggests suitable financial products and services tailored to clients' goals, tax and estate requirements, risk tolerance, and asset distributions.
  • Acts as the primary contact and relationship manager for a designated portfolio of client accounts.
  • Identifies opportunities for cross-selling additional services to current clients.
  • Builds and sustains a referral network of internal and external sources for further sales opportunities.
  • Recognizes and refers business to other departments within the Bank as appropriate.
  • Maintains regular communication with existing clients, beneficiaries, and referral sources to provide agreed-upon services, address inquiries, and resolve service-related issues.
  • Interprets trust documents and client account agreements with meticulous attention to detail.
  • Contributes as a key member of the Trust Administration Committee.
  • Exhibits sound judgment in processing client requests and makes recommendations for fiduciary approvals beyond specified limits.
  • Strictly complies with operational risk controls and regulatory standards.

Additional Responsibilities

  • Represents the Bank in community engagements and industry associations to enhance the Bank's reputation.
  • This role may require occasional travel for training and team meetings, as well as periodic travel to various locations as needed.
  • May necessitate working in a Midland office to ensure effective collaboration and support for both internal and external clients.
  • Ensures compliance with all relevant regulations, including but not limited to the Bank Secrecy Act (BSA).
  • Performs other duties as assigned.

Qualifications

Education and Experience:

  • Bachelor's degree or equivalent experience in trust administration.
  • A minimum of 3 years of prior experience in trust administration (advanced designations and/or preparatory work may sometimes be considered in lieu of experience).
  • At least 3 years of experience in team leadership with a proven track record of coaching and motivating team members.
  • Familiarity with various investment products and allocation strategies to meet client investment goals.
  • Ability to read and interpret trust and legal documents.
  • Demonstrated success in a collaborative team environment.
  • Capacity to meet deadlines without constant supervision.
  • Professional demeanor and courtesy in interactions with clients and colleagues.
  • Ability to express ideas clearly and work effectively in a fast-paced environment.
  • Proficiency in trust accounting systems.
  • Excellent verbal, written, and interpersonal communication skills, with the ability to instruct others, interpret documents, and prepare reports and correspondence.
  • Strong organizational and time management skills.
  • Aptitude for addressing complex issues involving multiple facets and variables in non-standard situations.

Core Competencies:

  • Business acumen
  • Encourages innovation
  • Drives results
  • Makes informed decisions
  • Acts as a brand ambassador
  • Collaborates effectively
  • Communicates clearly
  • Focuses on customer satisfaction
  • Demonstrates authenticity
  • Exhibits emotional intelligence
  • Commits to self-improvement
  • Adapts to change

At Midland States Bank, we believe that bringing our authentic selves to work fosters happiness, comfort, confidence, and enthusiasm in serving our customers, colleagues, and the organization. We proudly uphold our commitment to being an Equal Opportunity and Affirmative Action employer. Midland is dedicated to recruiting, employing, training, compensating, and promoting individuals without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you seek a place for professional growth, we encourage you to consider Midland States Bank as your next career destination.

Note: This job description does not constitute a contract for employment.

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