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Wealth Management Solutions, Trust Officer VP

JPMorganChase

JPMorganChase

Accounting & Finance
Rochester, NY, USA
Posted on Tuesday, July 2, 2024

Job Description

The Global Trusts & Estates Practice is an integral part of the services we offer to clients. With over 170 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 J.P. Morgan is appointed as corporate trustee of a trust, whether created by a client during their lifetime or upon their death through a provision in their will, it is the Trust Officer's role to oversee the administration of the trusts.

Job Responsibilities:

  • Analyze trust documents for legal, tax, administrative and investment issues and coordinate delivery of services
  • Make recommendations regarding how the Bank shall exercise discretionary powers it has as trustee
  • Oversee investment decisions, including working with investors to ensure that the trust's investment objective is appropriate for the needs of the trust and applicable fiduciary law and that the trust is invested in accordance with its investment guidelines (Mandate)
  • Comprehensive knowledge of trust law, gifting techniques, income, transfer, and generation skipping taxation, with ability to apply that knowledge to client specific planning exercises and account administration
  • Work with Tax Officers and trust counsel to resolve tax issues
  • Knowledge of internal procedures involving distributions, account maintenance, account opening/closing, Investment Systems and Annual Reviews, and management of overdrafts - is a plus
  • Address questions raised by beneficiaries, co-trustees and their advisors
  • Ability to work in a team-based environment

Client Relationship Management

Trust Officers must develop relationships with beneficiaries and advisors in order to have appropriate knowledge to carry out the grantor’s purposes and meet the needs of the beneficiaries. Trust Officers have responsibility to maintain current information on beneficiaries and their changing needs and circumstances in order to prudently carry out the firm’s fiduciary duties and to provide superior client service.

  • Ability to partner with client's other advisors (attorney, accountant); highly respected by external professional advisor community
  • Develop, retain and deepen trust account relationships

New Business

  • Partnering with Wealth Advisors with respect to the vetting and pricing of new trust business, including developing a full understanding of the purposes of the trust, the nature of JPM’s role, the risks inherent in the structure and underlying assets, and the client’s expectations
  • Cross-selling of JPM products/services; maintain and develop strategies for increasing business with current clients; professional advisor cultivation

Educational/Administrative:

  • The specialized and ever changing nature of the Trust practice requires that Trust Officers devote a significant amount of time to personal development and training
  • Training at JPMorgan consists of reading the fiduciary materials which are circulated to each Trust Officer, attending in-house and external seminars and taking required Proficiency Training courses offered internally on a quarterly basis
  • Trust Officers are also required to assist in training and developing their Trust Administrative Officers and Professionals, including performance management and feedback

Required Qualifications, Skills and Capabilities

  • Bachelor’s Degree required; MBA or other advanced degree is a plus; J.D. preferred
  • In-depth knowledge of all fiduciary products and services, including all legal, tax and regulatory requirements applicable to fiduciary relationships
  • Relevant experience focused in the Trust business; either at a corporate fiduciary or a law firm
  • Solid Client Relationship Management experience