Wealth Management Solutions, Trust & Estates, Trust Administrator VP

JPMorgan Chase • Summit, NJ

89d

About The Position

The Global Trusts & Estates Practice is an integral part of the services we offer to clients. With over 160 years of experience in serving as a corporate fiduciary for families, it is important that our Trusts and Estates services are delivered by the most capable people, with technical experience as well as the ability to interact well with a variety of types of families and individuals. When JPMorgan is appointed as corporate trustee of a trust, whether created by a client during his lifetime or upon his death through a provision in his will, the Trust Administrative Officer works under the supervision of the Trust Officer in the administration of the accounts. The Trust Administrative Officer is expected to have or develop the skills to provide leverage and back-up coverage for the Trust Officer with whom the Trust Administrative Officer works. The J.P. Morgan Private Bank offers high net worth individuals and families personalized, comprehensive financial solutions that integrate sophisticated investment management, capital markets, trusts & estates and banking capabilities. For over 7 consecutive years we have been voted number 1 in the U.S. for overall private banking services by Euromoney, and we have been specifically recognized for our succession planning, advice and trust services.

Requirements

• Bachelor's degree required
• A minimum of 7 years’ experience in the trust and estates industry
• Advanced degree such as JD, industry certification such as CTFA or paralegal certificate preferred
• Experience in the administration and support of trusts including general understanding of fiduciary products and concepts, including legal, tax and investments knowledge
• Problem Solving/Risk Management skills
• Client Servicing skills
• Teamwork/Personal Effectiveness skills
• Cross Selling and Retention skills
• Strong computer skills including proficiency with trust accounting system
• Experience with JPMorgan fiduciary platform a plus

Nice To Haves

• Advanced degree such as JD
• Industry certification such as CTFA
• Paralegal certificate with paralegal experience in trust and estates practice

Responsibilities

• Work with the Account Opening Group to open trust accounts
• Interpret the governing instrument and applicable law to ensure the proper set-up of account records, including payments, fee schedules and tax records
• Communicate with beneficiaries and co-trustees to outline administrative procedures
• Respond to client issues, anticipate client needs, and prepare for and participate in client meetings with the Trust Officer
• Work with the Tax Officers and counsel on income, gift, estate, and generation skipping taxes for the trust/estate and its beneficiaries
• Respond to requests from beneficiaries for discretionary distributions and prepare memoranda supporting recommendations regarding how the Bank shall exercise discretionary powers it has as trustee
• Confer with co-trustee (if any) to obtain his/her approval
• Coordinate with Trust Officer on the communication of the decision to client and follow-up action on the request as necessary
• Handle ongoing day to day administration of account, and proactively manage account base in an effort to avoid and minimize service and operational issues
• Oversee the work performed by various operational groups and identify risk that might be incurred in connection with a trust
• Utilize risk management tools to ensure that all exceptions are properly addressed and kept to a minimum
• Communicate with Investors regarding investment matters and liquidity needs
• Handle departmental projects relating to accounts and special assets
• Participate on various committees as needed
• Ensure appropriate steps are taken to minimize risk when the trust terminates, including canceling payments and statements, and obtaining necessary documents for the Settlements group
• Develop relationships with income beneficiaries, co-trustees and intermediaries to carry out the grantor’s purposes and meet the needs of the beneficiaries
• Devote time to personal development and training in the specialized and ever changing nature of the Trust practice

What This Job Offers

• Education Level: Bachelor's degree