The Chief Trust Officer serves as the senior fiduciary executive of Arthur State Bank and is responsible for the strategic leadership, regulatory oversight, profitability, and reputation of the Trust & Wealth Management Division.

This role oversees all fiduciary administration, investment oversight, trust operations, compliance adherence, and trust-related business development. The Chief Trust Officer ensures that all trust activities are conducted in accordance with fiduciary principles, Arthur State Bank policies, FDIC guidance, SEC requirements (where applicable), South Carolina Trust & Probate Code statutes, and applicable federal regulations.

The position is accountable for safeguarding client assets, mitigating fiduciary risk, maintaining strong internal controls, leading Trust Committee governance, and advancing the Bank’s community-based trust and estate services platform.

Responsibilities

Strategic & Executive Leadership

• Develop and execute the Trust Division’s strategic plan aligned with Arthur State Bank’s overall business objectives.
• Drive growth in fiduciary assets under management (AUM) and related fee income.
• Maintain and enhance the department’s internal and external image consistent with the Bank’s mission and community-bank culture.
• Present trust performance, risk metrics, and strategic initiatives to executive leadership and the Trust Committee.
• Establish annual departmental goals, financial targets, and performance standards.

________________________________________

Fiduciary Administration & Oversight

• Oversee administration of trusts, estates, conservatorships, guardianships, IRAs, custodial and agency accounts.
• Ensure proper interpretation and application of governing instruments.
• Review and approve fiduciary accountings, court filings, VA accountings, and required regulatory reporting.
• Oversee investment review processes, asset allocations, and adherence to approved investment policies.
• Monitor distributions, discretionary decisions, and fee applications.
• Ensure appropriate documentation for:
• New account onboarding
• CIP/W-9 compliance
• Trust agreement reviews
• Ongoing administrative and court requirements
• Approve account openings and closings with appropriate internal controls.

________________________________________

Regulatory Compliance & Risk Management

• Ensure adherence to:
• FDIC fiduciary standards
• SEC regulations (as applicable)
• South Carolina Trust & Probate Code
• BSA/AML, OFAC, and FinCEN reporting requirements
• Call Report RC-T reporting
• Maintain strong internal controls and operational safeguards to minimize fiduciary liability exposure.
• Monitor suspense accounts, collateral reporting, and account reconciliations.
• Oversee 1099 reporting accuracy and tax reporting compliance.
• Update and maintain Trust Policy and Procedure Manuals (annual Trust Committee approval required).
• Coordinate internal and external trust audits and examinations.
• Provide SSAE and compliance reports to Bank Compliance and executive leadership.

________________________________________

Trust Committee Governance

• Serve as Chair or Lead Officer of the Trust Committee.
• Prepare monthly Trust Committee reporting including:
• Asset concentrations
• Special situations
• Budget reporting
• Approved securities list
• Risk and compliance updates
• Present investment reviews and policy updates.
• Document and maintain Committee minutes and approvals.

________________________________________

Financial & Operational Management

• Prepare and manage the annual Trust Division budget.
• Monitor department income, expenses, and profitability.
• Oversee:
• Fee billing and release
• Security pricing updates
• System upgrades and vendor oversight
• Department suspense account reconciliations
• Monitor vendor relationships including tax preparers, system providers (FIS/SunGard), and other fiduciary service vendors.
• Ensure accurate and timely reporting for:
• Call Reports (RC-T)
• Annual tax preparation tracking
• Management and board reporting

________________________________________

Business Development & Relationship Management

• Lead fiduciary business development initiatives in partnership with lending, retail, and senior leadership.
• Cultivate relationships with attorneys, CPAs, financial advisors, and centers of influence.
• Participate in community events and professional associations to expand trust relationships.
• Meet with clients to review account performance, fiduciary needs, estate planning changes, and special circumstances.
• Assist with cross-referrals across Arthur State Bank lines of business.

________________________________________

Personnel Leadership & Talent Development

• Hire, develop, and retain qualified trust personnel (subject to executive approval).
• Conduct annual and ongoing performance evaluations.
• Provide fiduciary education and mentoring to trust staff.
• Maintain appropriate continuing education and certifications.
• Ensure staff completion of:
• BSA/AML training
• Disaster recovery training
• Regulatory updates
• Required bank compliance courses

________________________________________

ROUTINE OVERSIGHT RESPONSIBILITIES

Ongoing

• Monitor account balances, investment maturities, and liquidity needs.
• Review discretionary transactions and asset purchases/sales.
• Monitor tickler systems and fiduciary action items.
• Review edit logs impacting tax reporting or pricing.
• Oversee check disbursements and operational approvals.
• Review tax return preparation lists and coordinate with CPAs.
• Monitor regulatory publications and rule changes impacting fiduciary operations.

Year-End & Tax Season

• Oversee 1099 reporting accuracy and transaction coding.
• Monitor fiduciary and individual tax return completion.
• Coordinate audit requests and examination responses.
• Run compliance management reports.
• Oversee E&Y (or other tax preparer) coordination and fee tracking.

Required Skills & Abilities

• Executive leadership and strategic planning
• Fiduciary risk management
• Regulatory compliance expertise
• Investment oversight and asset allocation principles
• Financial acumen and budgeting
• Strong communication and relationship management
• Confidentiality and ethical judgment
• Detail-oriented and highly organized

Education and/or Work Experience Requirements

• Bachelor’s degree in Finance, Accounting, Business, Law, or related field required.
• Advanced fiduciary credential strongly preferred (CTFA, CFP®, CPA, JD, or equivalent).
• Minimum 7–10 years progressive trust administration experience.
• Minimum 5 years management experience.

Strong knowledge of:

• Fiduciary law
• South Carolina probate procedures
• Trust accounting systems (e.g., FIS/SunGard or similar)
• Investment principles and portfolio oversight

Demonstrated experience in audit coordination and regulatory examinations.

Physical Requirements & Working Conditions

• Primarily office environment.
• Occasional travel for client meetings, court appearances, conferences, and business development events.