Trust Senior Associate (TSA), Private Banking

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Trust Senior Associate (TSA) Private Banking Houston TX -

The Trust Senior Associate (TSA) is a specialist role assisting trust officers with all phases of trust relationship servicing and this capacity the TSA will interact with Merrill Financial Advisors (FAs) and their teams clients and/or clients outside advisors directly or as a research resource. The TSA will coordinate the internal delivery of trust services through the appropriate channels within the Fiduciary Solutions and/or Trust Operations groups.

It is recognized that candidates may not have specific trust experience and/or familiarity with the companys risk parameters and policies and procedures. Applicants who are detailed oriented can work independently and have a willingness to learn the required skills for this role are viable candidates. Strong verbal and written communication skills are critical for this position as it requires significant telephone and written interaction with clients their Financial Advisors and intermediaries.

Responsibilities:

• Partner with client teams business partners and centralized service teams to deliver Private Bank capabilities and solutions related to:.

  • Proactive client servicing such as meeting material preparation and family tree updates.

  • Supporting a seamless client experience and timely responses by researching inquiries from clients Advisors and Centers of Influence.

  • Facilitating tax reporting process by researching cost basis responding to internal requests for information obtaining outstanding tax documents from external sources and furnishing tax documents as requested to clients and their personal tax preparers.

• Perform tasks necessary to mitigate fiduciary risks though multiple routines and processes:

  • Monitoring of cash balances including overdraft remediation and addressing excess cash holdings

  • Review of prior day activity reports

  • Raising cash

  • Investment Policy Statement reviews/updates

  • Discretionary Action Form preparation and supporting documentation review

  • Updating account coding in response to changes in circumstances and/or completion of periodic account reviews

  • Fee acknowledgement preparation

  • Deceased Client Notification process and action item maintenance such as establishment and updates to interested party records

  • Know Your Client refreshes

  • Monitoring of RMD status for IRAs and private foundations

• Support ad-hoc administrative and strategic projects prepare reports and conduct research.

• Adhere to Private Bank and Enterprise risk framework and comply with regulatory and legal requirements

• Minimum of 2 years of experience with a financial institution focusing on high net worth Private Banking client service operations and sales

Skills:

• Active Listening

• Adaptability

• Attention to Detail

• Emotional Intelligence

• Prioritization

• Collaboration

• Critical Thinking

• Decision Making

• Oral Communications

• Written Communications

• Drives Engagement

• Innovative Thinking

• Mentoring

• Networking

• Problem Solving

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent; Bachelors degree preferred.

For internal employees: participation in a work from home posture does not make you eligible to post.