AIB Trust Operations
Course Code: 8325
Length: 15 weeks with mid-term and final examinations
Audience: This course is designed for Entry-level trust personnel (personal, corporate, employee benefits) at both the officer and non-officer level. .
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.
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
Text Book: All reading materials are provided online.
Recommended Course Credits: AIB: 3.0; ICB: 45 (CCTS or CSOP)
Prerequisites: None
Enrollment: To enroll in this course, please click on the link below for the registration form. Print and complete the form and submit it to your supervisor for approval. Then submit the approved form to your human resources department for processing.