Oregon Bankers Association - Independent Community Banks of Oregon

Trust Operations

AIB Course Code: 8325

Course Length: 15 weeks with mid-term and final examinations

Course Description:
This course is a comprehensive survey and introduction to the organizational operations of the trust industry. It describes the products and services associated with the operations of a trust institution, how those products and services are managed, and how trust operations professionals can provide effective service to their associates and customers, both current and potential.

Audience:
Entry-level trust personnel (personal, corporate, employee benefits) at both the officer and non-officer level.

Learning Objectives:
After successfully completing this program, you will be able to:

Trace the historical development of the trust business; define the elements of a trust; analyze personal trust and agency business; describe charitable trusts; contrast the basic employee benefit plans; compare trusts and agencies; and describe trust institution organization
Compare stock to preferred stock; understand fixed-income bond investments; define cash equivalents; and describe investment management companies
Explore the primary and secondary securities markets; identify how securities are classified by a numbering system; and analyze measurement of investment performance
Describe how securities are acquired and disposed of; and compare securities ownership rights and powers
Describe how securities are traded, settled, and delivered; explain how depositories function and how trust organizations use them; and trace the activities of securities transfers
Explain what is involved in establishing an account; describe departmental record keeping; explore the internal reporting used by a trust organization; and analyze the various records provided to customers
Identify basic trust accounting functions; compare various accounting activities to an individual account level; and describe accounting activities on a fund level
Define the basic internal controls instituted by trust organizations; identify the external controls employed by trust institutions; explain the trust accounting controls used to check daily transactions; and describe the trust accounting reconciliation methods used to balance records
Contrast asset and liability transactions; analyze the processing of free transactions; apply buys and sells from an accounting perspective; and describe the accounting functions associated with securities transactions
Describe cash management; identify cash transactions in trust accounts; and explain how collective fund accounting is accomplished
Define the terminology associated with record keeping; identify the various records and files maintained by trust organizations; describe record keeping methods; explain the purpose of record file maintenance; and describe the various reports provided to and on behalf of customers
Contrast state and national (federal) regulatory jurisdiction; and explain the rating systems used in the examinations of trust organizations