Trust Settlement Officer

Your opportunity

The Trust Officer is responsible for developing and maintaining relationships with registered investment advisors, trust beneficiaries, and other interested parties for an assigned book of business and trust settlement. The Trust Officer assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations in the context of their responsibilities.

Essential Duties:

• Ensure each trust account is administered in accordance with applicable laws, regulations, and the terms of its governing instrument.
• Maintain high client service levels through prompt research and response to registered investment advisors and trust beneficiaries.
• Present discretionary memorandums for review and approval of the Discretionary Distributions Committee.
• Document directed distributions for the administrative file and for the Trust Administrative Committee.
• Provide notice of termination for terminating trusts to the Trust Advisory Committee and process related termination efforts in accordance with Administrative procedure.
• Manage volume of new accounts through completion of the post acceptance administrative review process.
• Ensure proper receipt of and accounting for miscellaneous assets in established trust accounts.
• Respond to initial inquiries from Schwab advisors, third party contacts, and private individuals regarding both current and future trust prospects.
• Perform Post Acceptance and Annual administrative account reviews for assigned accounts.
• Coordinate the payment of any outstanding income, gift, and estate taxes due.
• Research any outstanding debts of the decedent to determine any amounts that should be paid from the trust.
• Create plan of distribution and funding including but not limited to distributing specific bequests, dividing remaining assets into separate trust shares, and making outright distributions to beneficiaries.
• Act as liaison with estate attorney, executor, or personal representative.
• Coordinate the preparation of any necessary estate and GST filings with tax vendor.
• Coordinate the preparation of Receipt, Release and Refunding documents related to the trust termination.
• Coordinate the preparation of any other estate notices as required by applicable state law.
• Coordinate with Executor on determination of need for step-up in basis as well as applicable valuation date.
• Work closely with the Trust Officer and Tax Manager assigned to any resulting trust shares.
• Work with Senior Tax Manager on special elections including but not limited to 645 Election, QSST, and

What you have

• 5+ years experience in personal trust administration
• Bachelor’s degree or higher, CTFA preferred, or equivalent work experience

• Strong knowledge of the principles of trust administration and practical experience in administering trusts governed by Delaware law, a plus
• Superior organizational skills and the ability to handle multiple priorities without sacrificing quality or accuracy
• Excellent interpersonal and communications skills and the ability to deal effectively with a variety of people
• Highly motivated and a self starter

In addition to the salary range, this role is also eligible for bonus or incentive opportunities

What’s in it for you

At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. Our Hybrid Work and Flexibility approach balances our ongoing commitment to workplace flexibility, serving our clients, and our strong belief in the value of being together in person on a regular basis.

We offer a competitive benefits package that takes care of the whole you – both today and in the future:

• 401(k) with company match and Employee stock purchase plan
• Paid time for vacation, volunteering, and 28-day sabbatical after every 5 years of service for eligible positions
• Paid parental leave and family building benefits
• Tuition reimbursement
• Health, dental, and vision insurance