First Republic Bank

Returning Candidate?

Trust Associate

Trust Associate

ID 
2018-5650
Job Locations 
US-NY-New York
Category 
Wealth Management

More information about this job

Overview

 

 

First Republic is an ultra-high-touch bank that provides extraordinary client service. We believe that one-on-one interactions build lasting relationships. We move quickly to serve our clients’ needs so that their financial transactions are handled with ease and efficiency. Client trust and security are paramount in our line of business. Ultimately, our goal is unsurpassed client satisfaction which will lead to personal referrals – our number one source of new business.

 

This person will primarily assist designated Trust Officers in the daily administration of all types of accounts (primarily personal).  This includes daily review of all transactions and cash reports; preparation of all necessary paperwork for cash receipts and disbursements and fielding routine inquiries and requests from clients and business partners. In addition, this person will be responsible for setting up new accounts in Sungard AddVantage.

 

 

Responsibilities

 

  • Input Account Record data on Sungard Addvantage, including set up of proxies, statements, and 1099 recipients.  
  • Daily review of transaction journals and cash reports. Where applicable, manually manage cash activities for each account.
  • Assist in completing initial and annual account reviews.
  • Review overdraft reports and ‘cure’ overdrafts where applicable.
  • Review fee maps and authorize the release and postings.
  • Conduct research work in order to answer clients' inquiries.
  • Sort and review mail for trust officers.
  • Prepare trade tickets for trades executed by the trust officers with FRSC.
  • With Trust Officer approval, prepare tickets/entries to move cash to/from accounts and ledgers to cover overdrafts.
  • Coordinate and produce all DTC-related activities, reports, packages and meetings.
  • Prepare same-day or future disbursement entries pursuant to requests and approvals. Where necessary, send out confirmation letters on disbursement requests via telephone.  Conduct disbursement call backs on fedwires. Reprint statements as requested.
  • Where necessary, update the account synoptic and account records, update name and address records. Where necessary, administer investment manager Excel database.
  • As required, maintain and print ticklers for trust officers.
  • Serve as liaison between Administration and Operations including securities related activities.
  • Administer low-maintenance accounts with minimum supervision from the Trust Officers.
  • Perform duties & responsibilities specific to department functions & activities or as assigned by supervisor
  • Responsibilities include the following:  1) adhering to and complying with the applicable, federal and state laws, regulations and guidance, including those related to Anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.) 2) adhering to Bank policies and procedures, 3) completing required training,  4) identifying and reporting suspicious activity to the AML Officer, and 5) knowing and verifying the identity of any customer(s) that enters into a relationship with the Bank. 

 

Qualifications

 

  • 2-5 years professional experince.
  • Knowledge and understanding of the Personal Trust and/or Investment Management business are strongly preferred.
  • College degree required, law degree preferred.
  • Vision must be sufficient to read data reports, manuals and computer screens.
  • Hearing must be sufficient to understand a conversation at a normal volume, including telephone calls and in person.
  • Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions.
  • Position involves sitting most of the time, but may involve walking or standing for brief periods of time.
  • Must be able to travel in a limited capacity.

 

Options

Share on your newsfeed