ERIN C. O'CALLAGHAN, CTFA
Summary
Motivated and perceptive Vice President & Senior Trust Officer with experience in overseeing fiduciary relationships and managing financial assets. CTFA recipient adept at risk assessment, regulatory compliance, and client relationship management. Strong focus on team collaboration and delivering consistent results, adaptable to changing needs. Recognized for analytical skills, integrity, and effective communication.
Overview
18
18
years of professional experience
1
1
Certification
Work History
Senior Trust Officer IV & Vice President
Wells Fargo Wealth Management
06.2020 - 08.2024
- Relationship manager for a book of approximately 200 complex trust accounts consisting of all Pennsylvania statute philanthropic trusts, administered in accordance with governing documents, applicable statutes, regulations, and bank policies and procedures.
- Main point of contact for beneficiaries, scholarship applicants, and grant submissions from charitable organizations with day-to-day oversight of the trusts' operations.
- Computed Annual Required Minimum Distribution calculations for Private Foundations based on their fiscal year schedule utilizing Microsoft Excel and IRS Form 990-PF tax returns.
- Member of internal legal team to determine appropriate course of action for charitable trust situations such as defunct charities, document restrictions with investments or beneficiary terms.
- Arranged, organized, and participated in annual committee meetings for scholarship recipients and grant selections.
- Prepared and proof court accountings to provide the Attorney General's office transparent overview of account administration, investments, beneficiary distributions, and trust terminations.
- Review investment performance to support determination of continuation of Pennsylvania Act 141 adjustments, Unitrusts, and Power to Adjust accounts.
- Completed trust terminations due to trust fulfillment, specific termination dates, uneconomical administration, court ordered terminations.
- Maximized client satisfaction by regularly reviewing portfolio performance and adjusting strategies as needed.
- Handled sensitive information discreetly, maintaining strict confidentiality at all times as required by Wells Fargo policies, procedures, and legal regulations.
- Kept abreast of industry trends, regulatory changes, and best practices through continuous professional development, ensuring ongoing excellence in trust management services.
- Served as a trusted resource for junior Trust Officers by offering guidance and mentorship in their professional development.
Senior Fiduciary Administrator III & Assistant Vice President
Wells Fargo Wealth Management
06.2015 - 06.2020
- Relationship manager for a book of approximately 200 simple and complex trust accounts consisting of personal irrevocable trusts, revocable trusts, custody accounts, investment management accounts, IRAs, and philanthropic trusts administered in accordance with governing documents, applicable statutes, regulations, and bank policies and procedures.
- Analyzed investment performance and completion of financial calculations to determination eligibility of establishing and continuing Pennsylvania Act 141 adjustments, Unitrusts, and Power to Adjust accounts.
- Reviewed clients' financial data to assess and recommend suitable actions for discretionary distributions.
- Prepared accounts for termination due to age attainments, death of beneficiary, uneconomical/small trusts, per the terms of governing documents, or court orders.
- Demonstrated effective and meticulous account management through administrative account reviews.
- Ability to apply established trust knowledge and experience to unique situations.
- Identified and prevented potential risk issues while providing solutions and outcomes to risk management and internal compliance.
- Provided guidance and direction to colleagues regarding document interpretation, risk management, discretionary disbursements, tax ramifications, and cash management.
- Led the overdraft initiative project; single handedly decreased recurring account overdrafts in approximately 1,200 accounts within 12 months.
- Successfully completed our ‘Know Your Customer' compliance project within 15 months.
- In-depth knowledge in specialty assets, such as real estate, OGM, loans, closely held assets.
- Computed Annual Required Minimum Distribution calculations for Private Foundations based on their fiscal year schedule utilizing Microsoft Excel and IRS Form 990-PF tax returns.
- Arranged, organized, and participated in committee meetings for scholarship and grant selection.
- Prepare and proof court accountings to provide the Attorney General's office transparent overview of account administration, investments, and beneficiary distributions.
Senior Trust Officer & Assistant Vice President
Reliance Trust Company
08.2013 - 12.2013
- Senior Trust Officer for the administration of approximately 140 directed trusts.
- Direct communication with Financial Advisors to ensure accurate and timely transaction reporting for daily system reconciliation on NCS/SunGuard trust accounting system.
- Supported continuous improvement initiatives within the organization, sharing best practices among fellow Trust Officers.
- Collaborated with Business Development Officers to review new business opportunities and determine the appropriate products for client estate planning needs.
- Enhanced client trust by consistently delivering accurate and timely financial services.
Trust Administrator II
Wells Fargo Wealth Management
06.2010 - 08.2013
- Hands-on administration and document interpretation for a mix of investment management, revocable and irrevocable trusts.
- Ensured timely follow-up with pending risk matters by properly utilizing in-house counsel, risk managers, and outside legal counsel.
- Analyzed clients' financial information to determine appropriate action for discretionary distributions.
- Collaborated with investment managers on assets valuation and investment strategies.
- Prepared accounts for termination due to age attainments, death of beneficiary, uneconomical/small trusts, per the terms of governing documents, or court orders.
- Recognized cross-sell opportunities for new and retained business by communicating ideas to internal partners.
Trust Associate
Wachovia Bank, N.A.
05.2006 - 06.2010
- Lead Associate for Wachovia Bank & Wells Fargo Bank merger project converting the paper files into electronic files.
- First point of contact for high-net-worth clients and attorneys.
- Meticulously maintained all relevant records pertaining to each assigned trust account while adhering strictly to confidentiality guidelines at all times.
- Coordinated closely with investment management teams to align investment strategies with specific trust objectives and restrictions.
- Maintained strong relationships with clients by providing exceptional customer service and proactive communication regarding account updates.
- Facilitated smooth transitions during significant life events by coordinating required account changes, such as beneficiary updates or asset transfers.
Education
Bachelor of Science - Business Administration, Specialization: Marketing
Rowan University
Glassboro, New JerseySkills
- Relationship Management
- Risk Management
- Project Management Experience
- Compliance Oversight
- Investment Performance Analysis
- Discretionary Distribution Analysis
- Teamwork & Collaboration
- Document Interpretation
- Customer Service
- Effective Communication
- Organizational Skills
- Emotional Intelligence
- Mentorship
- Attention to Detail
- Strong Decision-Making
- Discretion and Confidentiality
Certification
- Certified Trust and Financial Advisor (CTFA), June 2019 - Current
- Fiduciary Management Program: American Bankers Association and Wells Fargo Bank, N.A.
Work Availability
monday
tuesday
wednesday
thursday
friday
saturday
sunday
morning
afternoon
evening
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Work Preference
Work Type
Full TimeWork Location
HybridRemoteOn-SiteImportant To Me
Company CultureWork-life balanceCareer advancementHealthcare benefitsWork from home optionPaid time off401k matchPaid sick leavePersonal development programsQuote
Fall seven times; stand up eight.
Japanese proverb
Timeline
Senior Trust Officer IV & Vice President
Wells Fargo Wealth Management
06.2020 - 08.2024
Senior Fiduciary Administrator III & Assistant Vice President
Wells Fargo Wealth Management
06.2015 - 06.2020
Senior Trust Officer & Assistant Vice President
Reliance Trust Company
08.2013 - 12.2013
Trust Administrator II
Wells Fargo Wealth Management
06.2010 - 08.2013
Trust Associate
Wachovia Bank, N.A.
05.2006 - 06.2010
Bachelor of Science - Business Administration, Specialization: Marketing
Rowan University
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