Trust Accounts Officer - Hire or get hired

Your complete guide to the Trust Accounts Officer Role: Duties, salary & hiring tips

Purpose of the Trust Accounts Officer

The Trust Accounts Officer ensures proper handling of client trust accounts, including deposits, withdrawals, reconciliation, and compliance with legal trust account regulations.

Trust Accounts Officer's duties and responsibilities

• Trust Transactions:
Process deposits, disbursements, and interest calculations.

• Reconciliation:
Perform regular trust account reconciliations.

• Compliance:
Ensure adherence to Legal Profession Uniform Law and trust account rules.

• Audit Support:
Prepare trust records and support external audit reviews.

• Reporting:
Generate trust ledger summaries and transaction histories.

Requirements and qualifications for a Trust Accounts Officer

• Experience managing trust accounts in legal or financial services
• Understanding of trust accounting principles and compliance
• High accuracy in reconciliation and transaction processing
• Familiarity with trust accounting software (e.g., LEAP, Actionstep)
• Strong ethics and attention to confidentiality

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Legal Market Update

The legal sector continues to face hiring challenges, particularly for Senior Associates, with 39% of firms struggling to fill these roles, followed by Lawyers (25%) and Associates (21%). Legal support staff, including Legal Assistants and Secretaries, also remain in high demand. Recruitment agencies remain the most effective hiring channel, with 67% of firms using their services, while job boards (40%) and referrals (40%) serve as supporting channels.

Workplace flexibility remains a priority, with 82% of firms offering work-from-home options and 68% providing flexible hours. Despite this, office attendance is still high, with 70% of employees going in at least four days a week. Parental leave policies vary widely across the sector—some firms provide up to 26 weeks of paid leave, while others adhere strictly to government-mandated benefits.

To attract and retain talent, firms are focusing on competitive benefits, with 65% offering bonuses and 65% investing in career development training. Other key incentives include professional association memberships (72%) and company-paid training (67%). As firms compete for talent, structured career progression and additional leave entitlements are becoming essential in retaining top performers.

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