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Form of workThe 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 JPMorgan is appointed as corporate executor or trustee of a trust includable in the gross estate of the decedent for estate tax purposes.
JP Morgan Chase & Co. is a leading global financial services firm with assets of more than $2 trillion, over 260,000 employees and operations in over 60 countries. It operates across four business segments including Asset & Wealth Management, Corporate and Investment Banking Commercial Banking, Consumer and Community Banking. Through collaboration, intellectual curiosity and creativity, you can accomplish extraordinary things at J.P. Morgan. Our people do outstanding work by partnering with clients and each other to generate positive change in our local and global communities every single day. We are committed to your growth and development. We offer opportunities across all of our businesses that can take you in any direction you want to go and leaders who will support you in getting there.
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.
Job Responsibilities:
- Work with the Account Opening Group to open estate or trust accounts.
- Interpret the governing instrument and applicable law to ensure the proper set-up of account records, including payments, fee schedules (when appropriate) and tax records. Communicate with beneficiaries and co-executors or co-trustees to outline administrative procedures.
- Analyze Wills and trust documents for legal, tax, administrative and investment issues and coordinate delivery of services.
- Handle ongoing day to day administration of accounts, and proactively manage account base in an effort to avoid and minimize service and operational issues.
- Utilize risk management tools, such as the overdraft report, daily transaction report, Administrative Review, and the Investment Systems to ensure that all exceptions are properly addressed and kept to a minimum
- Knowledge of trust and estate law, income, transfer, and generation skipping taxation, with ability to apply that knowledge to post-mortem 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
Client Relationship Management
- Develop relationships with beneficiaries and advisors in order to have appropriate knowledge to carry out the decedent and or grantor's purposes and meet the needs of the beneficiaries.
- Assist the Trust Officer 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.
- Assist Trust Officer to partner with client's other advisors (attorney, accountant); highly respected by external professional advisor community.
- Develop, retain and deepen client relationships.
New Business
- Assist the Trust Officer and partner with Wealth Advisors, Bankers, Investors, and Trust Officers to grow the trust and estate business. This includes participating in team discussions and strategy around structuring, pricing and closing trust and estate services including: estates, family trusts, charitable trusts, and specialized Delaware trusts.
- 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 and Estate practice requires that Trust Administrators 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 Estate Administrator, attending in-house and external seminars and taking required Proficiency Training courses offered internally on a quarterly basis.
Required Qualifications, Skills and Capabilities
- Bachelor's degree required
- Relevant years of experience in the trust and estates industry
- Advanced degree such as JD, industry certification such as Certified Trust and Financial Advisor (CTFA) or paralegal certificate, with paralegal experience in trust and estate practice preferred.
- Experience in the administration and support of trust and estates including general understanding of fiduciary products and concepts, including legal, tax and investments knowledge
- Problem Solving/Risk Management - takes initiative, decisive, accountable, exhibits critical analysis and judgment
- Client Servicing - client knowledge, client relationships, proactive communication
