Union Savings Bank
Trust Operations Assistant - New Milford
Union Savings Bank, New Milford, Connecticut, us, 06776
Description
The Trust Operations Assistant reports to the VP – Operations & Compliance Manager. Position is responsible for processing the daily work of the Trust and Wealth Management Department according to instructions provided by Wealth Management Officers or source documents. The Trust Operations Assistant will post transactions on the Trust Accounting System, process disbursements by check or electronic transfer and will be responsible for the daily balancing of the system. The Trust Operations Assistant will file retention documents, maintain all daily balancing and administrative account files, and provide support to department members as the need arises, and daily duties allow.
Daily Cash Transactions
Prepare and enter daily cash transactions on the Trust Accounting System. Accurately post daily debits and credits to all accounts, including recording income and dividends to accounts using the Trust Accounting System generated maps . Post daily security transactions to the Trust Accounting System, as reported on the Investment Custodian’s daily reports.
Receive written transactional input instructions from Trust Officers and custodial clients. Organize and prioritize daily work for data entry. Verify instructions with initiating source as necessary prior to input.
Communicate daily with institutional custody clients regarding instructions for all data entry to client’s designated accounts. Verify input source documents and coding for accuracy.
Enter data into the Trust Accounting System utilizing prescribed operating procedures and appropriate codes for each type of transaction.
Cash Disbursements
Prepare and enter cash disbursement instructions. Initiate checks, internal transfers and ACH transactions for disbursements.
Access periodic disbursement instructions coded for each day on the System. Enter new instructions received from Trust Officers, customers and other authorized parties. Verify instructions as needed and process payments via check, ACH, or direct deposit.
Initiate internal transfers and ACH transactions for Trust and Wealth Management customers.
Perform call backs to clients to confirm large distribution requests.
Assume responsibility for overdraft prevention by reviewing the system's overdraft report and through notifications to respective investment officers.
Other Operational Duties
Crosstrain with Trust Operations Officer and Compliance Officer, as needed, and serve as back up support during vacation and high-volume periods.
Assist with various mail merge projects for client mailings and events.
Assist with annual client account reviews. Obtaining supporting documentation and reports, as needed.
Assist with periodic reporting, including probate accountings, and reports presented to the Trust Committee, Trust Investment Committee and Trust Administration Committee.
Qualifications
Education
Required
High School Diploma or GED or better
Preferred
Bachelors or Equivalent Work Experience or better
Experience
Preferred
2-5 years: Trust or Investment Accounting and/or Bookkeeping Experience
2-5 years: Banking Experience
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights (https://www.eeoc.gov/poster) notice from the Department of Labor.
The Trust Operations Assistant reports to the VP – Operations & Compliance Manager. Position is responsible for processing the daily work of the Trust and Wealth Management Department according to instructions provided by Wealth Management Officers or source documents. The Trust Operations Assistant will post transactions on the Trust Accounting System, process disbursements by check or electronic transfer and will be responsible for the daily balancing of the system. The Trust Operations Assistant will file retention documents, maintain all daily balancing and administrative account files, and provide support to department members as the need arises, and daily duties allow.
Daily Cash Transactions
Prepare and enter daily cash transactions on the Trust Accounting System. Accurately post daily debits and credits to all accounts, including recording income and dividends to accounts using the Trust Accounting System generated maps . Post daily security transactions to the Trust Accounting System, as reported on the Investment Custodian’s daily reports.
Receive written transactional input instructions from Trust Officers and custodial clients. Organize and prioritize daily work for data entry. Verify instructions with initiating source as necessary prior to input.
Communicate daily with institutional custody clients regarding instructions for all data entry to client’s designated accounts. Verify input source documents and coding for accuracy.
Enter data into the Trust Accounting System utilizing prescribed operating procedures and appropriate codes for each type of transaction.
Cash Disbursements
Prepare and enter cash disbursement instructions. Initiate checks, internal transfers and ACH transactions for disbursements.
Access periodic disbursement instructions coded for each day on the System. Enter new instructions received from Trust Officers, customers and other authorized parties. Verify instructions as needed and process payments via check, ACH, or direct deposit.
Initiate internal transfers and ACH transactions for Trust and Wealth Management customers.
Perform call backs to clients to confirm large distribution requests.
Assume responsibility for overdraft prevention by reviewing the system's overdraft report and through notifications to respective investment officers.
Other Operational Duties
Crosstrain with Trust Operations Officer and Compliance Officer, as needed, and serve as back up support during vacation and high-volume periods.
Assist with various mail merge projects for client mailings and events.
Assist with annual client account reviews. Obtaining supporting documentation and reports, as needed.
Assist with periodic reporting, including probate accountings, and reports presented to the Trust Committee, Trust Investment Committee and Trust Administration Committee.
Qualifications
Education
Required
High School Diploma or GED or better
Preferred
Bachelors or Equivalent Work Experience or better
Experience
Preferred
2-5 years: Trust or Investment Accounting and/or Bookkeeping Experience
2-5 years: Banking Experience
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights (https://www.eeoc.gov/poster) notice from the Department of Labor.