Vice President (VP), Trust Officer Salary
A Vice President (VP), Trust Officer earns an average salary of $86,042 per year. The skills that increase pay for this job the most are Account Management, Legal Document Review, and Investment Management.
Job Description for Vice President (VP), Trust Officer
Vice president (VP) trust officers are responsible for administering and developing effective strategies for a business's trust accounts, as well as facilitating and overseeing programs for current and prospect clients in their firm. They typically work in an office environment and use a personal computer for correspondence, developing strong proposals for their departments, approving charts, and making modifications to ongoing paperwork.Read More...
VP trust officers must develop efficient trust services and help create referrals to increase brand recognition, and they also handle strong wealth management acquisitions and complete financial tasks according to strict regulations. They must be well-versed in financial software and organizing trust accounts into secure databases for future access, and they also develop excellent relationships with clients, trust holders, and other financial professionals to share important information.
Some VP trust officers may attend training for improvement in investment matters, and strong communications skills are important in this position to lead a team in a corporate environment and resolve technical issues as necessary. They also meet with clients to explain their accounts and how to increase their performance and must know specific fiduciary and tax laws before signing contracts and executing client orders regarding their trusts. Their advising role helps both the client and the company, as they supervise all trust officer personnel to achieve company goals in a timely manner.
A bachelor's degree in finance, economics, business administration, or a related field is generally required for this position, and prior experience in the industry is also necessary. Industry certifications are also helpful.
Vice President (VP), Trust Officer Tasks
- Contribute to the creation of investment strategies by tracking industry trends and reporting findings to senior management.
- Supervise the work of trust administrators.
- Identify new sales opportunities and take the lead in following up.
- Build and sustain relationships with clients, establish portfolio objectives, and explain changes in portfolio development strategy.
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Pay by Experience Level for Vice President (VP), Trust Officer
Median of all compensation (including tips, bonus, and overtime) by years of experience.