Trust Officer

Bessemer Trust • Wilmington, DE

1d • Hybrid

About The Position

Bessemer's Delaware bank has an opening for a Trust Officer in its Wilmington
office, located in Wilmington's Montchanin community. Delaware's unique trust
laws and the ability of Delaware trusts to hold unconventional assets provide
for a distinctively transactional work environment. The ideal candidate, in
addition to having traditional estate planning and taxation strengths, would be
comfortable with transactional work and income tax matters. That said, we are
open to training an exceptional individual who might bring significant promise
or transferrable skills rather than direct experience with Delaware

Requirements

• J.D. required (and at least one license to practice law preferred)
• Knowledge of income tax, estate tax, gift tax and GST tax
• Knowledge of trust law (knowledge of DE trust law preferred)
• Excellent analytical skills and attention to detail
• Excellent interpersonal skills and the ability to deal effectively with a wide variety of people
• Effective at working in a team environment, collaborative, and respectful of others
• Effective computer skills; proficiency with Microsoft Word and Excel; familiarity with PowerPoint; comfortable learning new software packages (banking-related)
• Motivated, solution oriented and a self-starter; independent thinking encouraged
• Excellent organizational skills (able to handle multiple priorities)
• Excellent communication skills (oral and written)

Nice To Haves

• Experience in personal trust administration or estate settlement preferred
• Knowledge of DE trust law preferred

Responsibilities

• Work with Client Advisor (relationship management) teams to support and ensure proper administration of an assigned book of sophisticated trusts.
• Prepare documents relating to the transfer of trusts to Bessemer Delaware (e.g. Acceptances of Appointment, Direction Letters).
• Coach members of the Client Advisory teams in the proper account structure, funding, fees and coding related to new account openings.
• Review governing instruments (e.g. trust agreements and wills) and prepare trust analyses as part of the Initial Trust Review process; follow up on critical identified action items that remain outstanding to ensure proper trust administration.
• Review transaction documents and participate with Estate Planners, Client Advisory teams and clients' outside counsel to adjust content/structure as needed to properly implement various funding, lending and other complex transactions; draft related Direction Letters.
• Serve as an in-house resource for trust administration questions - solving overdrafts, providing guidance on actions that may/may not be permissible under the trust's terms, identifying solutions and work-arounds for various problems as they arise, identifying and applying appropriate state and/or federal law to given situations -- generally coaching and supporting Client Advisory teams to ensure correct trust administration.
• Review and edit Discretionary Distribution and Special Investment Requests for presentation to Committee as part of the ongoing trust administration.
• Work with Client Advisory teams to support all steps in the termination process including the preparation of informal settlement documents (Receipts and Releases).
• Implement special projects in support of department and fiduciary risk management initiatives.
• Develop and present department and firmwide training modules and materials.

Benefits

• Competitive base salary plus discretionary annual bonus for select positions
• A 401(k) plan with a generous annual profit-sharing contribution
• Personalized development and career opportunities, including tuition reimbursement support
• Comprehensive medical, dental, and vision plans with zero contributions for employee coverage
• Employee assistance (EAP) and wellness programs
• Hybrid work environment: 60% in office, 40% remote for most positions
• Paid time off and paid parental leave
• Employer-paid life insurance and short- and long-term disability coverage
• Legal services and financial wellness plans at no cost to employees

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Ph.D. or professional degree