4 days old

Manager, Wealth Management Middle Office

FNBC Bank and Trust
La Grange, IL 60525
  • Job Code
    122113042

FNBC Bank & Trust, a leading Chicago-area community bank, has a rapidly-growing wealth management department located in La Grange, IL. We specialize in delivering high-quality personal trust and investment services to affluent individuals, families, and nonprofit organizations. We are seeking an individual to assist with the servicing and administration of all client relationships in the department.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Taxes

  • Ensures timely completion of all trust tax returns and applicable personal tax returns by serving as the liaison between officers, administrative staff and contracted tax preparers.
  • Develops and implements systems for fiscal returns.
  • Processes incoming tax returns, sets up tax payments, and processes estimated tax payments as necessary.
  • Coordinates mailing of all 1099s, 5498s, Grantor Tax Letters and K-1s.

Discretionary Distribution System and Process:

  • Designs and manages the discretionary distribution process from policies and procedures, TrustDesk Discretionary Distribution system design and maintenance, discretionary decision completion, resolution of issues, and reporting to the Trust Administrative Committee.
  • Ensures discretionary distributions are properly requested, documented and approved.
  • Monitors the status of open budget discretionary spending to ensure discretionary spending complies with approved discretionary terms.

Annual Account Review Systems- Administrative Reviews

  • Designs and manages the annual administrative review process from policies and procedures, TrustDesk ARS systems design and maintenance, annual review completion, resolution of exceptions and issues, and reporting to the Trust Administrative Committee or Trust Investment Committee.
  • Works with officers and associates to monitor and resolve outstanding review exceptions.
  • Ensures all reviews are prepared on a timely basis an monitors pas-due exceptions to completion.

Real Estate

  • Ensures that trust-owned property and client-directed property administrative tasks are completed including payment of property taxes, tracking of real estate exemptions, and tracking annual and triannual inspections and appraisals.
  • Monitors the timely completion of unique asset reviews and closes completed reviews.
  • Monitors the timely renewal of outside insurance policies and ensures the bank is named as primary or additional insured on all outside policies.
  • Working with the officer or administrator, files all claims.

Account Opening and Closing

  • Ensures that new accounts have all necessary paperwork prior to opening and completes the opening process. Ensures accounts are closed correctly and in a timely manner.

Compliance Reporting

  • Processes exceptions reports.
  • Creates, gathers and organizes all necessary reports and materials needed for regulatory reports and as requested by auditors and examiners.

Other duties including but not limited to:

  • Ensures that regulatory committee meeting materials are prepared in a timely fashion, serves as the secretary for such meetings and prepares minutes.
  • Serves as the technical liaison for the department.
  • Oversees all fee changes to ensure that fees are being properly charged.
  • Designs and manages fundamental accounts processes such as account onboarding, AML/KYC compliance, bill paying, and account closing.



POSITION REQUIREMENTS:

  • Maintains a thorough knowledge of Wealth Management policies, procedures, and best practices.
  • Exhibits strong oral and written communications skills and organizational skills.
  • Proficient in Excel; knowledge of TrustDesk and/ or FIS preferred.
  • Possesses strong judgement, ethics, morals and decision-making skills with superior attention to accurate information and details.
  • Knowledge of related state and federal banking compliance regulations, bank operational policies and procedures , and bank products and services.
  • Local travel may be required.

EDUCATION AND EXPERIENCE:

  • Bachelors degree or equivalent education and/ or experience.
  • 5-7 years of work-related experience consisting of any of the following: tax background; banking, wealth management or trust operations or banking, compliance or trust administration.

PHYSICAL ABILITIES REQUIRED:

The physical demands and work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • Adequate vision for significant amount of computer work.
  • Ability to stand or sit for extended periods of time, repetitive use of hands and fingers (typing and calculations).
  • Occasional lifting.

FNBC BANK & TRUST'S EQUAL EMPLOYMENT OPPORTUNITY POLICY:

We are an equal opportunity employer and do not discriminate against any applicant or employee on the basis of race, religion, color, ancestry, gender, age, national origin, disability, marital status, honorable discharge from military, parental status, source of income, housing status, sexual orientation/ gender identity, citizenship or any other legally protected status in accordance with applicable local, state and federal law. No one will be retaliated against in any manner for exercising his/ her rights under law or under this policy.



PI122113042

Categories

Posted: 2020-07-30 Expires: 2020-08-30

Before you go...

Our free job seeker tools include alerts for new jobs, saving your favorites, optimized job matching, and more! Just enter your email below.

Share this job:

Manager, Wealth Management Middle Office

FNBC Bank and Trust
La Grange, IL 60525

Join us to start saving your Favorite Jobs!

Sign In Create Account
Powered ByCareerCast