Trust Account Manager
3 weeks ago
The Trust Officer will oversee the administration of trust accounts, ensuring compliance with trust documents and regulatory requirements. This includes bookkeeping for the trusts and the trust company. The Trust Officer will be responsible for investment reporting, including recording investment activity in the general ledger and preparing all financial reporting for grantors and beneficiaries.
Key Responsibilities:
Trust Administration:
• Maintain knowledge of trust rules and regulations.
• Ensure trust account and its administration adhere to applicable state and federal laws.
• Calculate disbursements from the trusts as needed.
• Coordinate reporting of disbursements to the Internal Revenue Service (IRS).
• Ensure proper filing of tax forms and payment of taxes.
• Close trusts when necessary.
• Provide consultation to beneficiaries as needed, assisting them with decisions relating to finances and estates.
Investment Reporting:
• Reconcile monthly reporting from investment subledger.
• Quarterly and Annual reconciliation of fees for investment accounts.
• Quarterly and Annual reconciliation of investment accounts to tax documents in preparation for tax returns.
• Assist with drafting clear and well-informed investment policies for the trusts.
Income Taxes:
• Drive efficient tax planning activities through liaising with external tax experts and other third parties.
• Prepare annual tax return workpapers for all trusts in collaboration with Controller and COO.
• Prepare quarterly income summaries for external tax accountants.
• Review quarterly and annual reconciliations of investment accounts in preparation for tax returns.
Bookkeeping/Accounting:
• Accounts Payable: Review and enter business and trust bills into QuickBooks for payment.
• Prepare recurring payments and occasional checks for signature.
• Record all investment activity in QuickBooks.
• Assist with management of accounting, auditing, and budgeting within the organization.
• Assist with preparations for external audits.
• Coordinate with COO to prepare financial reports for upper management.
• Investigate questionable transactions, form reasonable conclusions, make recommendations, and prepare correcting journal entries, as appropriate.
Additional Responsibilities:
• Handle various roles and responsibilities in addition to typical job functions.
• Contribute to team efforts by accomplishing tasks as needed.
Requirements:
• Strong analytical and problem-solving skills.
• Highly skilled in math, accounting, and financial processes.
• Excellent communication and interpersonal skills.
• Detail oriented and highly organized.
• Skilled in time management and the ability to prioritize tasks.
• Excellent critical thinking skills.
• Solid understanding of Nevada fiduciary accounting income and applicable regulations.
Education and Experience:
• Bachelors degree in accounting, finance or related field (masters preferred).
• At least 3 years experience in an accounting, investment, or financial institution with trust management.
• CPA, EA, CMA or CTFA preferred.
Equal Opportunity Employer:
Teknekron Corporation is an Equal Opportunity Employer. We welcome all applications from a wide range of candidates. Selection for roles will be based on individual merit alone.
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