First State Trust Company

Location: Wilmington, DE (outside of the city) (hybrid)

Schedule: Full Time

About First State Trust Company

First State Trust Company (“FSTC”) is a Delaware chartered trust company in Wilmington, Delaware. Since 1982, FSTC has been providing corporate trust, custody, and administration services to trust clients. Formerly known as Citi Institutional Trust Company and dating back to its roots as E.F. Hutton Trust Company, FSTC has concentrated its focus on strategic alliances with world-class financial service firms. Our strategic alliances allow clients to take advantage of FSTC’s independent professional trust administration services, combined with the investment management services of their chosen provider.

Position Responsibilities

FSTC is looking for a Personal Trust Officer (“TO”) to deliver high-quality service and solutions to our clients. The TO must demonstrate proper effort attitude and discipline to work in a growing and fast-paced company. This person must be service and solutions-oriented to administer client trusts and develop and maintain relationships with financial advisors, investment advisors, trust clients, trust beneficiaries, and other interested parties. The TO will ensure compliance with all company policies and procedures, as well as all applicable state and federal banking regulations in the context of their responsibilities.

Trust Administration

• Responsible for all aspects of trust administration, including quality checking of new account setup, annual reviews, and ongoing relationship management.
• Manage accounts in accordance with governing documents, FSTC policies, and applicable laws.
• Ensure receipt of proper documentation for new account openings and account terminations.
• Review, analyze and seek guidance when needed regarding new account documents and ensure FSTC is aware of all requirements prior to presentation to Steering Committee.
• Regular review of all accounts to ensure proper categorization of cash (principal and income), cost basis, tax reporting, and all other aspects of each trust.
• Resolve tax and other trust issues.
• Assist in new business development when needed.

Fiduciary Expertise

• Perform a review of potential new business.
• Knowledge in fiduciary, investment, tax, and other aspects of trusts.
• Participant in Discretionary Distribution Committee.
• Apply sound fiduciary judgment to trust matters.
• Advise other personnel of fiduciary issues.
• Mitigate risk for FSTC and the assigned trusts.
• Be knowledgeable in Delaware specific Trust laws.

Client Management

• Work with colleagues to retain and expand existing client relationships.
• Anticipate client needs and advise accordingly.
• Maintain superior client servicing levels.
• Meet with clients via telephone or in-person, as required.
• Work closely with Investment personnel to support trust requirements.
• Interacts with the relationship manager, Financial Advisors, and clients in defining goals and objectives, working along with the investment officer to establish the appropriate asset allocation and to review and approve portfolio changes in trust involving more complex situations and/or assets.
• Monitor fee schedules to ensure that fees charged are in agreement with governing documents.

Knowledge & Qualifications

• Bachelor’s degree and 5-7 years of personal trust administration experience. CTFA preferred.
• Demonstrate efficiency and flexibility in performing detailed transactional tasks and assignments with frequently changing priorities and deadlines in a fast-paced work environment. Provide efficient service to internal partners and external clients.
• Partner with other functional areas to accomplish objectives.
• Attend to details while maintaining a big-picture orientation.
• Understanding of various types of investments and strategies.
• Interpret and apply policies and identify and recommend changes as appropriate.
• Work with minimal oversight, make non-routine decisions, and bring complex problems to management for guidance.
• Communicate effectively, both orally and in writing, with all organizational levels.
• Active involvement in related professional organizations.

Job Type: Full-time

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Physical setting:

• Office

Schedule:

• 8 hour shift
• Monday to Friday

Supplemental pay types:

• Bonus pay

Ability to commute/relocate:

• Wilmington, DE: Reliably commute or planning to relocate before starting work (Required)

Application Question(s):

• Do you have a CTFA designation?

Education:

• Bachelor's (Required)

Experience:

• Trust Administration: 5 years (Preferred)

Work Location: One location

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