Job Description

Job Description

Job Description

The Crosby Company is a family office responsible for wealth management and preservation for multiple branches and generations of a single family. The Crosby Company and its affiliates provide trust administration, investment, and tax planning and compliance services, among others.

Job Summary:

The position of Associate Trust Officer (ATO) involves assisting Trust Officers and Trust Advisors in managing personal, trust and partnerships accounts, ensuring compliance with legal regulations and providing exceptional client service. Expectations for this role include meticulous record-keeping, transaction processing, proactive problem solving, and collaboration with other departments and Trust Operations team. The ATO should possess a strong understanding of trusts coupled with excellent organizational, communication and analytical skills to ensure the smooth administration of all accounts while maintaining compliance and client satisfaction.

Responsibilities:

• Provide transaction administration for client accounts, trusts, LLCs, and partnership entities for a specified family branch.
• Analyze, review, and process a large volume of disbursement transactions with key emphasis on client service, dates and deadlines for transactions such as general expenses, payroll, foreign exchange, asset purchases, etc.
• Ensure and verify that all single, adhoc and complex project transactions are processed in alignment with business policies, procedures, and official trust/client documentation and protocols.
• Prepare weekly, monthly, or annual transaction expense reports and analysis for clients and/or outside trustees.
• Communicate with team members, internal business partners and vendors to research questions and obtain appropriate invoice approvals and supporting documentation.
• Monitor recurring expenses and Trust Group’s email inbox to ensure timely processing of key transactions.
• Coordinate with Trust Officers to quantify disbursement requirements such as tracking and monitoring of capital improvement spend against approved budgets.
• Establish new vendors and client accounts as directed.
• Ensure client accounts have sufficient cash balances to fund anticipated disbursement.
• Perform periodic testing of new system builds prior to integration.
• Ensure that all documented team policies and procedures are kept current.
• Perform month end review of transaction discrepancies and resolutions while meeting required deadlines.
• Provide back-up coverage for other team members during out of offices.
• Preparation of new setup forms or updates to existing forms relating to new entities and portfolios.
• Collaborate with property management company to review and analyze quarterly billing for properties.
• Lead complex transaction administration meetings while collaborating with Trust Advisors, Trust Officers, Finance, Legal, Tax, Family Office Cash, and Investment Support (FOCIS) on the execution.
• Assist with the acceptance, administration, and termination checklists preparation for trusts, client accounts, LLCs, and partnership entities.
• Collaborate with Trust Advisors, Finance, Legal, Tax, Family Office Cash, and Investment Support (FOCIS) & Trust Officers on the execution of complex transactions. i.e., decants, severances, real estate purchases, capital calls, distributions, contributions, intra-family loans.
• Review and approve bulk transactions before final processing by Trust Analyst
• Work directly with Trust Officers to ensure clarity of expectations relative to specific complex transactions.
• Participate and lead preparation of annual periodic account review documentation.

Qualifications:

• Bachelor’s Degree or equivalent with concentration in Accounting or Finance preferred
• 5+ years’ experience in an accounting or transactional processing role
• Prior experience with Accounting Software (ATWeb preferred but not required) and Microsoft Office Applications in particular Microsoft Excel
• Understanding of clients,, LLCs, trusts, partnerships and estate administration principles and practices
• Familiarity with legal regulations governing trust and entity management
• Proficiency in record-keeping and transaction processing and reporting
• Knowledge of vendor management and account setup procedures
• Ability to analyze and process high volume of transactions with attention to detail
• Effective organization to manage transaction deadlines and ensure timely processing
• Strong communication skills to liaise with team members, internal partners, vendors and clients
• Possess a strong focus on accuracy when processing and reviewing documentation
• Ability to lead meetings and collaborate with cross functional teams and internal stakeholders
• Capability to adapt to changes in procedures, systems, and regulations
• Vigilance in identifying potentially suspicious transaction activities and reporting them appropriately
• Proficiency in Microsoft Office suite

Beacon Trust Company is an Equal Opportunity Employer . We respect and seek to empower each individual and support the diverse cultures, perspectives, skills and experiences comprising our workforce. We do not discriminate based on race, religion, color, national origin, sex, sexual orientation, age, veteran status, disability status, genetic information, gender identity or any other applicable characteristics protected by law. We are committed to building an inclusive, high-performance organization reflecting diverse backgrounds, perspectives, and skills. The more inclusive we are, the better our work will be.

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