Key Responsibilities and Required Skills for a Trust Operations Specialist

🎯 Role Definition

As a Trust Operations Specialist, you are the operational engine of our wealth management and fiduciary services division. You will be entrusted with the critical day-to-day administration of trust accounts, ensuring every transaction is executed with precision, compliance, and integrity. This position is pivotal in supporting our Trust Officers and Relationship Managers, maintaining the high level of service our clients expect, and safeguarding their assets and legacy for generations to come. You will serve as a subject matter expert on the intricate processes that underpin modern fiduciary management.

📈 Career Progression

Typical Career Path

Entry Point From:

Trust Operations Associate
Financial Services Administrator
Brokerage Operations Clerk
Private Banking Assistant

Advancement To:

Senior Trust Operations Specialist
Trust Operations Team Lead / Manager
Trust Officer / Fiduciary Advisor
Compliance Analyst (Wealth Management)

Lateral Moves:

Securities Operations Analyst
Wealth Management Operations Specialist
Trade Support Analyst

Core Responsibilities

Primary Functions

Execute, process, and settle a wide range of financial transactions, including security trades, mutual fund purchases, and redemptions, ensuring strict adherence to established procedures and deadlines.
Meticulously manage all cash and asset movements for trust and agency accounts, including wire transfers, ACH payments, check deposits, and asset receipts/deliveries, ensuring accurate and timely posting.
Perform daily, weekly, and monthly reconciliation of cash, security positions, and transaction activity between the trust accounting system and various custodial and brokerage accounts.
Research and resolve complex operational discrepancies, breaks, and exceptions by investigating transaction histories, liaising with custodians, and collaborating with internal teams.
Oversee the complete lifecycle of new account setup and existing account closures on the trust accounting platform, ensuring all required documentation and data points are accurately captured.
Process mandatory and voluntary corporate actions, including stock splits, mergers, tenders, and dividend payments, ensuring proper allocation to client accounts.
Manage the administration of unique and hard-to-value assets, such as real estate, private equity, and limited partnerships, including tracking valuations and processing related transactions.
Facilitate discretionary and non-discretionary payments and distributions from trust accounts, verifying authorization and ensuring compliance with the terms of the trust document.
Calculate, process, and post various account fees, including management fees, administrative fees, and tax preparation fees, ensuring accuracy and proper disclosure.
Act as a key liaison between Trust Officers, portfolio managers, custodians, transfer agents, and brokers to resolve inquiries and facilitate smooth operational workflows.
Prepare and review client-facing reports, statements, and tax-related documents (1099s, K-1s), ensuring data integrity and clarity.
Maintain a high level of data integrity within the core trust accounting system (e.g., SEI Trust 3000, FIS Addvantage) through diligent data entry and regular system maintenance tasks.
Ensure all operational activities are performed in strict compliance with internal policies, industry regulations, and legal standards, including KYC and AML protocols.
Monitor and manage incoming income, dividends, and interest payments, ensuring they are promptly and accurately credited to the appropriate client accounts.
Support internal and external audits by providing requested documentation, explaining operational processes, and demonstrating control procedures.
Handle the valuation and pricing of securities and other assets held in trust, using various data providers and internal systems to ensure accurate market values.
Process all aspects of account maintenance, including address changes, beneficiary updates, and changes to investment objectives, with a high degree of accuracy.
Manage alternative investment processing, including capital calls, distributions, and the collection of valuation statements and K-1s.
Classify and process cash flows, ensuring accurate categorization for performance and tax reporting purposes.
Proactively identify opportunities for process improvements and automation within the operations department to increase efficiency and reduce risk.
Participate in special projects related to system upgrades, conversions, or the launch of new products and services, acting as a subject matter expert for operations.

Secondary Functions

Support Trust Officers and Relationship Managers with ad-hoc reporting requests and complex client account inquiries, providing detailed analysis of transaction histories and asset positions.
Contribute to departmental process improvement initiatives by identifying operational inefficiencies and proposing solutions to enhance accuracy and workflow.
Collaborate with Compliance, Legal, and Audit departments to ensure operational procedures adhere to all internal policies and external regulatory requirements.
Participate in system testing and implementation for upgrades or conversions of the core trust accounting platform, providing user feedback and validation.

Required Skills & Competencies

Hard Skills (Technical)

Deep proficiency with a major trust accounting system (e.g., SEI Trust 3000, FIS Addvantage, Innovest, AccuTrust, or similar platforms).
Strong working knowledge of securities processing, including trade settlement life cycles, corporate actions, and asset servicing functions.
Advanced proficiency in Microsoft Excel, including VLOOKUP, HLOOKUP, pivot tables, and complex formulas for data analysis and reconciliation.
In-depth understanding of fiduciary principles, trust administration concepts, and related financial products and services.
Familiarity with custodial platforms (such as DTCC) and financial messaging systems (such as SWIFT).
Proven ability to perform complex, multi-level cash and asset reconciliations with an exceptionally high degree of accuracy.
Knowledge of regulatory compliance frameworks, including Know Your Customer (KYC), Anti-Money Laundering (AML), and OFAC.

Soft Skills

Exceptional attention to detail and a steadfast commitment to accuracy, essential for producing error-free work in a high-stakes environment.
Superior organizational and time-management skills, with a demonstrated ability to prioritize competing tasks and consistently meet strict deadlines.
Strong analytical and problem-solving abilities, capable of independently researching and resolving complex operational discrepancies and exceptions.
Excellent written and verbal communication skills, enabling clear and professional collaboration with internal teams, external partners, and management.
A proactive, service-oriented mindset dedicated to providing outstanding back-office support that directly enhances the overall client experience.
High level of integrity and an understanding of the need for confidentiality when handling sensitive client and financial information.
Adaptability and a willingness to learn new systems and processes in a constantly evolving financial landscape.

Education & Experience

Educational Background

Minimum Education:

Bachelor's Degree in a relevant field or equivalent combination of education and professional experience.

Preferred Education:

Bachelor's Degree with a concentration in Finance, Accounting, or Business Administration.

Relevant Fields of Study:

Finance
Accounting
Economics
Business Administration

Experience Requirements

Typical Experience Range:

2-5 years of direct experience in trust operations, securities operations, asset management operations, or a closely related financial services role.

Preferred:

3+ years of experience specifically within a trust operations environment, demonstrating progressive responsibility and a deep, functional understanding of fiduciary asset administration from start to finish.