The Trust Operations Associate will perform tax-related functions. Tax-related functions include identifying and assigning tax forms/documents for various account types, being responsible for the accuracy of reporting tax related transactions and resolving issues identified by the Tax Vendor. This position will also serve as a back-up to other positions within the Trust Department, gaining valuable experience across different operational areas.
Duties & Responsibilities
Responsible for reviewing fiduciary tax returns, ensuring completeness and accuracy
Responsible for collaborating with outside CPAs in the control and review of fiduciary returns and IRS forms
Ensure accurate and timely 1041ES Estimate Tax Payments and 1040ES Federal estimated tax payments via check or through the EFTPS system
Ensure timely preparation, distribution and filing of all 1099 and Tax Documents for Trust and Private Asset Management Clients including determining the reallocation of dividends and other income into appropriate tax categories
Work with the current tax vendor and Trust application vendor to modify system tax settings and produce uploads as needed
Identify and research income variances between Mineral Operator 1099s and Maui Income reports
Responsible for cash reconciliation and reconciliations of custodial holdings
Ensure issuance and reconciliation of trust receipts and disbursements, (Checks, Wires, ACH)
Responsible for compiling Trust Board Committee materials for the Board Packet
Prepare requested materials for Bank examiners and internal audits
Responsible for outgoing and incoming wire transfers
Coordinate the accurate filing of documents into account image folders
Responsible for preparing various internal reports supporting quality control for the department
Serve as a backup for performing market securities settlement, trust income collections, trust distribution issuance, customer statement reporting and tax reporting, presentation of regulatory audit request and securities litigation
Serves as a backup for opening and closing of new accounts (onboarding and transferring assets); participate in the pre-acceptance process for all accounts in the Trust Operations Department
Perform other duties as assigned
Minimum Qualifications
Work Experience
3 to 5 years of tax related/bookkeeping experience
3 to 5 years in Trust Operations (preferred), banking operations, or similar heavily regulated financial services company operations department, with in depth experience related to market securities settlement
Working knowledge of federal regulatory issues impacting the financial services industry.
Experience using MS Word, Excel, Outlook
Demonstrated organizations skills and a self-starter
Proven proactive problem-solver, identifying efficiencies, problem areas and potential improvements supporting key business objectives
Excellent communication skills, and the ability to relate to all levels of the organization
Preferred Experience ( Optional )
N/A
Supervisory Experience
N/A
Position Includes Driving
N/A
Skills
Education/Skills
4-year college degree
Equipment/Machines
Excellent computer literacy in all Microsoft Programs (Outlook, Word, Excel, and Power Point)
Proficiency in Adobe Reader
Experience with internet, search engines, browsers and general PC connectivity.
Ability to work with office equipment such as copiers, scanners, shredders, fax and
other electronic devices.
Competency Requirements
Proven organizational skills, analytical skills, with ability to shift priorities and follow assigned tasks through completion.
Excellent Oral and Written skills.
Ability to focus with a high degree of analytical abilities.
Ability to work independently with minimal supervision.
Must have high attention to detail with ability to focus on assigned tasks.
Must be accustomed to a fast-paced office environment
Physical Requirements
Must be able to reach, bend and lift file boxes up to 40lbs
Must be able to sit for most of the day in front of a computer
Must be able to type on a keyboard
Must be able to speak to and hear customers
Must be able to read a laptop/desktop computer monitor
Must be able to be mobile in an office environment
This job description does not imply an employment contract, nor is it intended to include every duty and responsibility for which the employee is responsible. Duties and tasks may be assigned by the management team based on department and business needs.
Jefferson Bank is an EEO employer and an Affirmative Action Employer, M/F/Disability/Protected Veteran Status.
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