Senior Corporate Trust Officer

Overview

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving. 

 

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance.  401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.  We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

Responsibilities

The Senior Corporate Trust Officer, serving as a single point of contact for bond issues and escrow accounts including new business, growth, and retention resulting from strong sales, marketing, and networking with both external and internal clients.  Internal clients include strong ties to Treasury Management, Commercial Lending, and Legal departments.  Ability to review and analyze complex agreements for accurate set up of new issues within bond accounting system and cash accounting system.  Back up and possible successor to the Managing Director of Corporate Trust role.   

Salary Range

The salary range for this position is $77,900/yr - $153,000/yr plus bonus. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location.

 

Key Accountabilities 

Municipal Bond Administration 

• Sales of new bond issuances to grow authorized and outstanding debt managed- ONB serves as Trustee, Registrar, and Paying Agent.  

• Minimize the number of bond issues on the Watch and Default list of issues.  Thorough analysis of documents and ability to adhere to. 

• Generate additional fees from additional construction and debt service reserve accounts set up as Custody accounts. 

• Monitoring risk and compliance with the bond documents.   

Debt Payment Monitoring and Administration 

• Monitor administration of debt payments - accurate and timely payment of debt service payments to bondholders. 

• Review and processing of Bond Fund Distributions - payments from Operation and Reserve Fund. 

• Ensure issuers are satisfied with correct and accurate payments made to vendors for work performed on the construction project, including checks, wires, ACH.     

• Daily reconciliation with the Depository Trust Company 

Client Relationship Management 

• Dialogue with the debt and escrow relationship owners at their respective organizations. 

• Networking with Attorneys serving as Bond Counsel, Financial Advisors, and Underwriters.  Review and analyze documents. 

• Partner internally to help Commercial Banking and Legal Department with Escrow and Bond purchases made and considered loans by the bank. 

• Aid with new and existing bank products. 

• Strong positive Reputation Risk amongst peers, Issuers, and partners.   

Team Leadership and Operational Oversight 

• Tactfully written policies and procedures. 

•  Clean internal and external audits.  Proactively addressing and correcting issues. 

•  Promote synergy and inclusion for teamwork among the department. 

Key Competencies for Position 

• Drive and Execution 

• Problem Solving/Decision Making 

• Coach & Empower Others 

• Communication and Collaboration 

• Attention to Detail 

Qualifications and Education Requirements 

• BS in Finance, Accounting, or Economics 

• Corporate Trust Master Designation  

• Strong analysis, problem, resolution, and decision-maki