BMO Financial Group ESS Administrator in Chicago, Illinois
111 W Monroe - 115 S LaSalle
Job Family Group:
Wealth Sales & Service
Provides high-quality support to administrators of estates, trusts and guardianships, helping to deliver an exceptional client experience. Provides technical expertise in all aspects of estate, trust and guardianship account management and administration to ensure compliance. Specific duties may include the following:
Prepares documentation for new account acceptance.
Performs set up and maintenance of accounts to ensure all compliance requirements are met within acceptable time frames.
Helps to prepare correspondence with beneficiaries.
Identifies assets to be collected and initiates and tracks the collection process.
Obtains asset valuations.
Images and organizes key documents for efficient administration.
Handles other aspects of estate administration, such as arranging for mail forwarding and cancelling subscriptions.
Coordinates the filing of estate, gift, income and other tax returns with the administrator, other BMO personnel and outside preparers by obtaining and forwarding information.
Pays legitimate debts and expenses from BMO accounts.
Manages tangible personal property in accordance with ESS desk processes.
Collects fees when appropriate.
Tracks and images beneficiary documents such as combo letters, distribution agreements and settlement agreements.
Prepares schedules for partial and final distributions at the direction of the administrator.
Handles account closings.
Arranges for and carries out distributions (outright and to resulting trusts).
Supports in audits and compliance reviews as assigned.
Prepares and reviews estate, trust and guardianship accountings.
Develops rapport and instills confidence with beneficiaries to develop credibility and earn their trust.
Follows through on the risk and compliance processes and policies to ensure we safeguard our customers’ assets, maintain their privacy and act in their best interests.
Complies with all regulatory, legal and ethical requirements.
Exercises judgment to identify, diagnose, and solve problems within given rules.
Works independently on a range of complex tasks, which may include unique situations.
Broader work or accountabilities may be assigned as needed.
At least 4 years of relevant experience.
Strong knowledge of Personal Trust and Estate Administration processes and procedures.
Broad knowledge of Trust Tax and Estate/Trust/Guardianship Accounting.
Broad knowledge of fiduciary laws including estate planning techniques and relevant tax regulations.
We’re here to help
At BMO Harris Bank we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
As a member of the BMO Harris Bank team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.
To find out more visit us at https://jobs.bmoharris.com.
BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
BMO Financial Group Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets™, our North American investment and corporate banking division.In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets™, our North American investment and corporate banking division.We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.