The Senior Trust Officer at Ameriprise Bank, FSB is an integral member of the Personal Trust team and works directly with High Net Worth (HNW) financial advisors and trust clients to create, enhance, and expand their relationship with Ameriprise. Provides fiduciary administration of complex estate and personal trust accounts. Reviews and interprets Wills and Trust agreements. Confer with attorneys, financial advisors and clients regarding establishment, administration, and operation of trust accounts. Responsible for establishing and maintaining positive client relationships, quality customer service, and client retention.
Responsibilities
Responsible for overall trust account servicing, including initial and ongoing account reviews, discretionary distribution reviews, relationship building with advisors, clients and attorneys, research of legal issues, detailed knowledge of state and federal statutes governing trust administration, and interpretation of and execution of actions as directed by governing documents including Wills, Trusts, Codicils, Amendments, FLP, Contracts, etc. Perform administrative account reviews annually.
Collaborate with advisors, attorneys, accountants, and family members to ensure timely and accurate trust settlement including review document to determine dispositive provisions, review/approve payment of final expenses, coordinate gathering of material/documents for the final income tax return and estate tax return, determine whether other assets flow into trust/estate, ensure proper distributions made to beneficiaries, ongoing communication with beneficiaries and advisors, etc.
Assist in the sales process for Personal Trust; review and analyze documents, propose changes, provide legal research as necessary, oversee and monitor account establishment. Actively participate as a voting member in Trust Administrative Sub-Committee meetings to discuss new business, terminations, discretionary distributions, and other issues as necessary. Participate as a voting member of ARSC.
Coordinate preparation of trust tax returns and Agency letters with accountant (EY), address coding and other issues impacting preparation of returns, assist with development of new policies and procedures to address enhancements and changes, review tax returns for accounts administered, assist other team members as necessary to help ensure timely preparation and review of all returns is completed.
Lead and/or participate in other projects as a subject matter expert (e.g., IRA administration, coordination with Financial Planning, litigation settlement, system conversions, etc.).
Required Qualifications
Bachelor's degree or equivalent
JD/LLM in Taxation
7+ years relevant experience
Excellent written and oral communication skills.
Strong organizational skills and attention to detail.
Ability to prioritize and follow through.
Excellent analytical and problem-solving skills.
Preferred Qualifications
Trust investment background and/or experience with brokerage and/or delivery of trust administration services through alternative channels helpful.
About Our Company
At Ameriprise Financial, we're not just in the business of helping clients with their financial goals - we also help our advisors and employees reach their true potential by embracing an inclusive and collaborative culture. We celebrate the unique qualities and reward the contributions of our talented, passionate employees. The Banking and Cash Solutions team mission is to make life more rewarding by helping others achieve their goals and dreams by providing compelling product solutions and a seamless client experience. If you're motivated and want to work for a strong, ethical company that cares about you and your community, take the next step with Ameriprise Banking and Cash Solutions.
Ameriprise Financial is an equal opportunity employer. We consider all qualified applicants without regard to race, color, religion, sex, national origin, genetic information, age, sexual orientation, citizenship, gender identity, disability, veteran status, marital status, family status or any other basis prohibited by law.
