Security National Bank of Omaha has posted the following job opening in Omaha, NE: Sr. Trust Operations Associate - Omaha/FT. Apply today at Careerlink.com!
Established in 1964 in Omaha, Nebraska, our family-owned financial institution's vision is to be the best in class in meeting the evolving financial needs of our customers. Our extensive history and family-owned legacy give us a deep and genuine understanding of how to serve and treat our customers. We offer a holistic financial approach with solutions for personal, business and wealth in three markets: Iowa, Nebraska and Texas.
As a community bank, we value long-term partnerships built on trust and integrity. As an employer, we take pride in building meaningful relationships and celebrating the unique differences that define each team member; it's what makes us a stronger unit. It's one of the many reasons why creating a strong culture of empowerment, support, and opportunity is an ongoing focus.
JOB SUMMARY
This position is responsible for performing operational duties to contribute to the accurate and timely delivery of trust services, reports, and client satisfaction. Supports and serves as a back-up to the Trust Operations Manager with regard to operational functions of Trust Services to ensure the accurate posting, reporting and maintenance of client accounts.
ESSENTIAL FUNCTIONS
Account Processing and Management (40%)
Reviews documentation for new account process according to opening account checklist and establishes account on trust accounting system. Identifies deficiencies in account opening paperwork. Monitors and tracks deficiencies until resolved.
Reviews documentation for closing account process according to closing account checklist and closes account on trust accounting system.
Coordinates movement of incoming and outgoing asset transfers with custodian. Monitors and tracks transfers submitted ensuring complete receipt and delivery of assets and cost basis
Processes client IRA federal and state withholding payments. Provide monthly notification to the bank’s accounting team of dollar amounts for payment to specified entities.
Processes employee benefit plan transactions to outside brokerage accounts. Provide YTD reporting to plan administrator.
Operations (20%)
Assists with the oversight of the trust accounting system to ensure the integrity and reporting of client information. Serves as a liaison with the software provider to resolve operational issues. Serves as a subject matter expert of system.
Oversees processing of client cash contributions & withdrawals, including retirement plans.
Assists with maintaining the tax reporting capabilities of the trust accounting system by establishing scheduled tax bridges from trust accounting system to tax preparer software
Trains operations staff as necessary to ensure processes and procedures are followed correctly and consistently.
Client Security Trade Settlement and Reconciliation (20%)
Ensures the accurate and timely settlement of security trades which includes mutual funds, equity, and fixed income securities.
Reconciles daily security and cash transaction exceptions on custodian platform. Research and resolve variance issues.
Reconciles client IRA withholding payments quarterly and provide reporting to the bank’s deposit operations team.
Asset Management (10%)
Deposits and withdraws assets maintained in the vault using the dual control system and conduct semi-annual vault count under dual control process.
Processes noticesof corporate actions and tender offers, communicates with investment officers, tracks progress, and posts per custodian notification.
Monitors proxy voting and class action filings.
Sets up and maintains unique assets in the trust accounting system.
Leadership (10%)
Exhibits leadership as an individual contributor by supporting the team and company through sharing of knowledge, leading by example, setting high standards for self and team, being accountable, demonstrating open communication, acknowledging and supporting other’s efforts, and providing feedback when appropriate.
Performs other duties as required and assigned.
KNOWLEDGE, SKILLS AND ABILITIES
Advanced knowledge and understanding of trust accounting operations, policies and procedures including dual control safeguards.
Advanced knowledge and understanding of all types of accounts including trusts, agencies, retirement plans, foundations, employee benefits administration, and investments.
Advanced knowledge and understanding of trust administration policies and procedures, ERISA regulation IRS codes and regulations.
Advanced knowledge and understanding of various types of securities, asset classes, and fiduciary income tax implications.
Strong customer relation skills, self-motivation, strong attention to detail, and ability to work independently.
Skills to operate a PC, word processing and spreadsheet applications, preferably in MS Office.
Ability to respond timely to multiple client/administrative problems.
Ability to complete required compliance training by assigned due date.
Ability to maintain regular and reliable attendance.
EDUCATION*
Minimum of High School diploma or equivalent required.
Minimum of one year of college courses, accounting and/or equivalent experience in finance and trust operations preferred.
EXPERIENCE*
Minimum of 3-5 years of experience in Trust Operations required.
*Equivalent education and experience will be considered
AFFIRMATIVE ACTION
Security National Bank provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, disability, genetic information, marital status, amnesty, or status as a covered veteran in accordance with applicable federal, state and local laws.
APPLICANTS HAVE RIGHTS UNDER FEDERAL EMPLOYMENT LAWS:
