Corporate Trust Administrator III
Job Location: Denver, CO
Job ID: 2013-7690
The Corporate Trust Relationship Manager III is primarily responsible for administering the more complicated accounts for public trusts, municipalities and corporations, as well as corporate escrows; serves as a lead for other account administrators by providing expertise and assistance on more complicated transactions; assists Manager with marketing of corporate trust products and services. Responsibilities:
- Serves as the primary contact and relationship manager for all Corporate Trust services provided to the client. Prepares written correspondence to issuers, obligors, underwriters, bond counsel, etc. Responds to questions and interprets relevant documentation for bondholders, issuers, obligors, underwriters, etc.
- Performs initial review of legal documentation (i.e., Bond Indentures, Loan Agreements, Letters of Credit, etc.); ensures receipt of proper documentation prior to closing; arranges for registration and delivery of bonds; confirms and ensures proper flow of funds (i.e., receipt of proper proceeds, accrued interest, capitalized interest, payment of costs of issues, funding of reserve, etc); and ensures proper investment of all funds held regarding closing of new bond;
- Develops new business leads and new business from existing or prospective customers in conjunction with new business officer (where applicable); promotes the bank’s services and introduces customers to other departments when a service can be rendered; makes regular calls on clients to maintain existing account relationships.
- Assists Regional Manager and Manager, Corporate Trust with routine department management; may directly supervise other Trust Administrators; accompanies junior administrators on client calls as needed; assists less experienced administrators with more complex transactions.
- Ensures proper flow of funds pursuant to the bond documents, monitors receipt and disbursements from accounts, and effect bond redemptions in accordance with the relevant documentation.
- Uses appropriate technology to administer bond issues:
- Amortization schedule for life of bond issue detailing principal/interest payments for respective bondholder payment dates
- Flow of Funds diagrams outlining how payments and income from assets should be treated
- Funding schedules to be used in billing clients for debt service requirements.Variable rate calculation worksheet used to calculate debt service requirements on floating rate debt
- Monitors and enforces compliance with documentation requirements of bond indenture (insurance, UCC continuations, financials, budgets, etc.)
- Ensures proper investment of funds held. Understands various investment vehicles authorized under bond documents.
- Effects letter of credit extensions, fixed rate conversions, substitution of letter of credit providers or remarketing agents, and bond tenders all in accordance with the relevant documentation; assists less experienced administrators in these types of transactions.
- Administers defaulted bond issues which include: communications and notices to bondholders, negotiation of resolution with obligor, working with legal counsel to enforce document provisions, holding bondholder meetings, pursuit of default remedies which could include foreclosure, making demand on a guarantor or credit enhancement provider, appointment of a receiver, selection of a property manager, and offering and negotiating the sale of the collateral to a third party.
- Reviews office policies, forms, and procedures to ensure they reflect current practice and technology being used; communicates changes and helps other administrators implement new procedures.
This level of knowledge is normally acquired through the completion of a Bachelors degree and 5+ years of related experience or 11+ years of equivalent experience.
- Advanced knowledge of corporate trust administration, which includes bond debt, paying agent and transfer agent functions, contract law and accounting principles
- Advanced knowledge of investment-related products and services
- Advanced problem solving skills
- Advanced oral, written and communication skills, including interpersonal skills