Full-Time

Director of Trust Administration

Posted on 7/23/2024

Old Second

Old Second

501-1,000 employees

Local bank offering comprehensive financial services

Fintech
Financial Services

Expert

Lombard, IL, USA

Category
Asset Management
Insurance
Risk Management
Finance & Banking
Requirements
  • Bachelor’s degree in business, finance, or related and ten or more years of experience in Trust Administration which includes management of people and processes, or equivalent combination of education and experience.
  • Juris Doctorate
  • Certified Financial Planner (CFP) and/or Certified Trust and Fiduciary Advisory (CTFA)
Responsibilities
  • Manages team of sales and relationship managers that reviews, interprets, and administers personal trust accounts including trust activities such as estates, trusts, guardianships, and agencies.
  • Cultivates and leverages COI network of self and team to establish new and expand existing relationships.
  • May directly manage and/or delegate client relationships to the management of internal Trust advisors.
  • Fosters relationships within the broader Wealth team and across other Bank verticals (Commercial, Retail, etc.) to identify opportunities to cross sell products and services.
  • Oversees the creation of financial plans for clients including advice regarding investment options, risk management, and trust plan options.
  • In partnership with EVP, Wealth Management, creates annual budget based on department needs, strategy and growth mindset; establishes goals toward achievement.
  • Serves as Subject Matter Expert on federal and state regulatory fiduciary policies including taxes; ensures Trust department compliance through quality control and internal policy setting.
  • Serves as liaison between Trust compliance and Trust staff.
  • Engages team in knowledge share and continuous learning of trust, tax and related subjects to ensure all fiduciary obligations are met and clients are provided best in class service.
  • Regularly evaluates complex processes, policies and procedures toward continual improvement and sets high standard of fiduciary responsibility.
  • Oversees process that ensures all tax liabilities and obligations of accounts are met.

Old Second is a local bank that has been serving the Chicago metropolitan area for over 150 years. It offers a wide range of financial services tailored to individuals, families, and businesses. The bank provides traditional banking products such as debit and credit cards, prepaid cards, and treasury services for commercial clients. Its primary clients include individuals seeking personal banking solutions, families needing financial planning, and businesses of all sizes looking for commercial banking services. Old Second generates revenue through interest on loans, account service fees, and transaction fees from card usage. The bank is currently enhancing its online banking platform with a new system called Corporate O2, aimed at improving the user experience for its commercial customers. Old Second distinguishes itself from competitors through its long-standing community commitment and focus on personalized service.

Company Stage

IPO

Total Funding

N/A

Headquarters

Aurora, Illinois

Founded

1871

Simplify Jobs

Simplify's Take

What believers are saying

  • Acquiring First Merchants branches expands Old Second's Chicago market presence.
  • Digital transformation efforts aim to improve customer satisfaction and operational efficiency.
  • Community commitment gives Old Second a competitive edge over larger banks.

What critics are saying

  • Race-based discrimination lawsuit could harm Old Second's reputation and finances.
  • Integration of First Merchants branches may lead to customer dissatisfaction.
  • Transition to Corporate O2 platform may face technical and user adoption challenges.

What makes Old Second unique

  • Old Second has a 150-year history serving the Chicago metropolitan area.
  • The bank focuses on personalized services for individuals, families, and businesses.
  • Old Second is transitioning to the Corporate O2 platform for enhanced digital services.

Help us improve and share your feedback! Did you find this helpful?

Benefits

Performance Bonus

INACTIVE