Wealth Management Officer

Job Description

Job Description

SUMMARY :

Administers trust, conservatorship, estate, agency and retirement plan accounts, assists in operational areas within the department, solicits new business and performs any necessary Bank training; oversees Bank stock transfer and dividend payment functions. All other duties and responsibilities as assigned.

ESSENTIAL DUTIES, RESPONSIBILITIES, SKILLS :

• Where the Bank is named Personal Representative, ensures that the Will is probated, assets are marshaled, an inventory is filed with the court, and estate administration duties are carried out
• Handles correspondence in connection with any account relationship, including personal trust matters
• Maintains communication with beneficiaries of respective personal trusts
• Assist public account firms, the FDIC or OFIR, and external auditors during their examinations of the Trust Department
• Maintains contact with members of the legal, accounting, and other professions to identify new business prospects
• Ensures that financial or other required reports are prepared to ensure grantors, beneficiaries, and the Probate Court are provided with timely financial information
• Ensures that income and other required tax returns are prepared and filed when due. Ensures timely payment of individual estimated taxes
• Is responsible for administration of retirement plan accounts
• Assists in reviewing the trust accounting system and other operation software that is utilized
• Attend educational seminars to stay current on trust operations, trust administration, retirement plan changes, etc., as needed
• Responsible for tax reporting for the department
• Responsible for specific client accounts including annual administrative review, meetings with clients and keeping file documentation current
• Member of the Trust Administration and Investment Committee and participates in Directors Trust Committee meetings
• Responsible for setting up investment review reports for Trust Administration and Investment Committee and Directors Trust Committee meetings
• Works with the Senior Investment Officer on the investment portfolios of personal trust or other accounts
• Actively solicits new business prospects; makes sales and / or new business calls
• Reviews and places security orders from custodial customers
• Assists shareholders and works with AST on stock transfer and dividends for Southern Michigan Bancorp
• Maintains effective communication with other bank officers and new accounts personnel to promote referral of trust customers
• Maintains communication with the professional community to identify new business prospects
• Participates in professional and civic organization activities to promote a high profile for the bank in community and business prospects

SUPERVISORY RESPONSIBILITIES :

None

QUALIFICATION REQUIREMENTS :

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily and maintain confidentiality and professionalism. The requirements listed below are representative of the knowledge, skill and / or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and / or EXPERIENCE :

INTERPERSONAL SKILLS :

This position is required to deal with internal as well as external customers, in a positive, "Quality Customer Service" manner. An open, willing to assist approach to work is expected along with the ability to work beyond their normal job duties as the situation requires. Interpersonal and problem-solving skills are required. This position will have access to highly confidential information that must be handled in a professional manner.

PHYSICAL DEMANDS :

While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to sit; use hands to finger, handle or feel; and reach with hands and arms. The employee is occasionally required to stand; walk; climb or balance; stop, kneel, crouch, or crawl. The employee must frequently lift and / or move up to 15 pounds and occasionally lift and / or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance, color vision, depth perception and ability to adjust focus.

REASONING ABILITY :

Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram or schedule form.

WORK ENVIRONMENT :

The noise level in the work environment is usually moderate / conversational.