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First State Trust Company
Location: Wilmington DE
Schedule: Full Time

About First State Trust Company
First State Trust Company (“FSTC”) is a Delaware chartered trust company with offices in Wilmington, Delaware and West Palm Beach, Florida. FSTC is rapidly growing. This position is a new addition to staff, located in Wilmington, DE.
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 an Operations Specialist. We currently have an exciting opportunity for an individual looking to join a rapidly growing firm. This position allows for broad exposure and plenty of opportunities that are not found at larger financial firms. The FSTC Operations Specialist is responsible for assisting with the operational efforts for the Institutional and Personal Trust business lines. This role will learn to manage the daily preparation, processing, reconciliation, and issue resolution associated with daily trust operations. The individual in this position will also develop a basic understanding of the intricacies of trust accounts and institutional retirement plans. The ideal candidate is someone who can uphold a high service standard and demonstrate appropriate effort and attitude. We are looking for a candidate with a background in working with numbers, either from their education/college major or recent work experience. The person in this role will have the chance to help develop the current monthly processes used by the team. This position reports to the Senior Vice President, Chief Operating Officer.

• Reconcile accounts, research, and resolve discrepancies.
• Process daily income and prepare for anticipated income payments.
• Set up new assets and update asset values as needed.
• Track and process incoming transfer requests.
• Update account holdings with cost basis and DoD values.
• Assist with onboarding of new accounts.
• Process and post client fees for all accounts.
• Add fee schedules to new accounts and remove from closing accounts.
• Perform monthly and daily fee reconciliations.
• Run fee invoices and process manual fees as necessary (Tax, Legal, and Miscellaneous).
• Cross Train with other members of the team and learn new responsibilities.
• Back-up team members as needed.
• Perform special projects as assigned.
• Improve processes by looking for or creating a more efficient way to complete tasks.
• Complete various internal requests.

Knowledge & Qualifications

• BA or BS undergraduate degree is required.
• 2-3 years experience in trust/custody operations or with mutual funds.
• Previous experience with pivot tables, macros, and V-lookup in Excel is a plus.
• Proficient in Word and Database applications.
• The ability to work independently and with a team is a must.
• Strong organizational skills, accuracy, and attention to detail.
• Conduct themselves with the highest level of professionalism.
• Provide exceptional customer service internally and externally.
• Excellent written and verbal communication skills.
• Demonstrated time management skills and the ability to multi-task.

Apply Now

First State Trust Company
Location: Wilmington, DE
Schedule: Full Time

About First State Trust Company

First State Trust Company (“FSTC”) is a Delaware chartered trust company in Wilmington, Delaware, with an office in Palm Beach, Florida. 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.

FSTC is part of the Fi-Tek Group, a financial technology company providing innovative products and solutions to banks, trust & wealth management institutions, RIAs, Family Offices, Hedge Funds and Hedge Fund Administrators. Fi-Tek’s innovative and cutting-edge solutions enable its 450 financial institutions to service over one trillion dollars in assets across various wealth management market segments. Fi-Tek has locations in New Jersey, New York, Pennsylvania, Connecticut, Michigan, and India.

Position Responsibilities

FSTC is looking for a Fiduciary Tax Officer to provide first-class service and support for Personal Trust clients. This person is expected to learn and be involved in nearly all aspects of the fiduciary tax department’s processes and procedures, and will report directly to the Fiduciary Tax Director. Must work with clients, trust officers, financial advisors, investment managers, lawyers, and accountants. This position is not responsible for the preparation of tax returns.

• Receive, research, and respond to notices and correspondence from the IRS and various state taxing authorities.
• Act as a liaison between personal trust team members and outside tax preparers (including FSTC’s main tax vendor as well as various outside tax preparers).
• Work with the Fiduciary Tax Director to ensure proper coding and setup of new accounts for tax purposes.
• Work with web-based systems as well as outside parties to obtain various financial documents and tax forms at a high volume.
• Work with the Fiduciary Tax Director to ensure all fiduciary tax forms and tax payments are timely and accurately filed with the appropriate taxing authorities.
• Work with trust officers, operations, and tax preparers to maintenance, reconcile, and research transactions and account coding as issues arise.
• Receive, review, organize, and coordinate filing of fiduciary income tax returns prepared by various tax preparers. Includes review of forms 1041, 990/990PF, and 5227.
• Assist the Fiduciary Tax Director with various projects, communications, and data review as it relates to tax department processes and procedures.
• Assist with and participate in beneficiary and client meetings as needed.
• Maintain excellent and well-organized records and files.

Knowledge & Qualifications

• Bachelor’s degree required.
• Tax compliance experience preferred. Fiduciary/trust tax experience or tax experience working with HNW individuals and families a plus.
• Exceptional verbal and written communication skills.
• Strong computer skills including Microsoft Word, Outlook, and Excel.
• Exceptional organizational skills and attention to detail.
• Ability to handle multiple assignments while prioritizing and meeting strict deadlines is a must.
• Relevant work experience in an administrative role a plus.
• Trust administration experience a plus.
• Self-starter with the ability to work independently and proactively at times.
• Proactive in dealing with deadlines and communications.
• Ability to multitask and work in a fast-paced environment.
• Experience with OneSource Trust Tax a plus, but not required.

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First State Trust Company
Primary Location: Hybrid/US-Delaware-Wilmington (not in the city)
Schedule: Full-time (40 hours per week)

About First State Trust Company

First State Trust Company (“FSTC”) is a Delaware chartered trust company with offices in Wilmington, Delaware, and West Palm Beach, Florida. FSTC is rapidly growing. This position is a new addition to the staff located in Wilmington, DE with a hybrid work schedule.

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 focused 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.

This position allows for broad exposure and plenty of opportunities not found at larger financial firms. The FSTC Client Experience Specialist is responsible for assisting with the account opening, onboarding, funding & operational efforts for the Institutional and Personal Trust business lines. The individual in this position will also develop a basic understanding of the intricacies of trust accounts and institutional retirement plans. The ideal candidate can uphold a high service standard and demonstrate appropriate effort and attitude. We are looking for a candidate with a background in accounting, either from their education or recent work experience. This position reports to the Director of Client Experience.

Key Responsibilities

• Assist Director of Client Experience with building a successful, repeatable account opening process
• Communicate with FA’s & other external business referral sources to deliver a world class client service experience
• Coordinate with Compliance & other internal stakeholders to ensure new business is compliant which will include background checks, KYC and other due diligence matters on new accounts
• Opening & funding New accounts
• Partner with Sales/New Business Group to provide support on new sales opportunities, conferences & events and marketing material(s) as needed
• Initiate setting up FSTC fee schedules on new accounts in GWES to Trust Operations
• Establishing new account feeds on new accounts with partners
• Follow-up with prior Trustee to:
  • Provide FSTC transfer instructions
  • Obtain the previous three years’ tax returns
  • Request current year Tax Worksheet
  • Inquire for status follow-ups on asset transfers
• Ongoing review of new account funding with cost basis & acquisition dates
• Uploading of tax documents to FSTC tax partner
• Initiate new account asset set up into GWES by Trust Operations
• Closing accounts
• Cross Train with other members of the team and learn new responsibilities
• Back-up team members as needed
• Perform special projects as assigned
• Improve processes by looking for or creating a more efficient way to complete tasks
• Complete various internal requests as needed on both new & existing accounts

Educational and Professional Qualifications

• BA or BS undergraduate degree is required.
• 3 – 5 years experience in trust/custody operations or with mutual funds.
• Previous experience with Excel pivot tables, macros, and V-lookup is a plus.
• Proficient in Word and Database applications.
• The ability to work independently and with a team is a must.
• Strong organizational skills, accuracy, and attention to detail.
• Conduct themselves with the highest level of professionalism.
• Provide exceptional customer service internally and externally.
• Excellent written and verbal communication skills.
• Demonstrated time management skills and the ability to multi-task.

Apply Now

First State Trust Company
Location: West Palm Beach, Florida
Schedule: Full Time & Hybrid

About First State Trust Company

First State Trust Company (“FSTC”) is a Delaware chartered trust company with offices in Wilmington, Delaware, and West Palm Beach, Florida. FSTC is rapidly growing. This position is a new addition to the staff located in West Palm Beach, Florida.

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 focused 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 Relationship Manager to deliver high-quality service and solutions to our clients. Must demonstrate proper effort, attitude, and discipline to work in a growing, 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 Relationship Manager will assure compliance with all company policies and procedures and 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 New Business Committee.
• 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.
• Be knowledgeable in fiduciary law, investments, tax, and other aspects of trusts.
• Participate 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.
• Interact with Financial Advisors and clients in defining goals and objectives, working along with the Investment Officer to establish the appropriate asset allocation and review and approve portfolio changes in trusts involving more complex situations or complex assets.
• Monitor fee schedules to ensure that fees charged agree 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.

Apply Now