AWM Workplace Solutions - Head of Trust Administration - Executive Director

JPMorganChase; City Of London; On-site; GBP 80,000 - 120,000; Full time

Job summary

A leading global financial institution is seeking a Head of Workplace Solutions - Trust Administration to manage trust operations and ensure compliance with legal and regulatory standards. The ideal candidate will have strong leadership skills, a deep understanding of fiduciary responsibilities, and experience in Employee Benefit Trust. This role offers a competitive rewards package and the opportunity to lead a team in a dynamic environment.

Benefits

Comprehensive health care

Retirement savings

Competitive total rewards package

Qualifications

• In-depth knowledge of fiduciary products and services, including legal, tax and regulatory requirements.
• Experience in the Employee Benefit Trust business, either at a corporate fiduciary or a law firm.
• Solid Client Relationship Management experience.

Responsibilities

• Manage the day-to-day operations of GSTIL and GSTUKL.
• Liaise with external auditors and regulatory bodies as required.
• Lead and develop a team of trust professionals, providing guidance, training, and performance management.

Skills

Leadership

Regulatory compliance expertise

Communication

Team management

Education

Bachelor's Degree

MBA or other advanced degree

J.D.

Job description

Overview

The Head of Workplace Solutions - Trust Administration is responsible for managing the JP Morgan Chase Workplace Solutions trust companies - Global Shares Trustee Ireland Limited (GSTIL) and GS Trustee (UK) Limited (GSTUKL). They will work closely with Sales, Customer Relationship Management, Implementations, AML/KYC, Equity Plan Management, Tax Operations, and Reconciliations to coordinate and manage the creation and operation of the individual trusts under these two entities. This role involves taking responsibility for trustee actions on behalf of GSTIL and GSTUKL and ensuring comprehensive oversight of all trust-related activities. The role ensures GSTIL and GSTUKL fulfil all duties as trustee, meeting fiduciary and regulatory requirements.

The ideal candidate will possess strong leadership, team management, excellent communication, an understanding of corporate structures and fiduciary responsibility, regulatory compliance expertise, ability to identify conflicts of interest, and a detailed understanding of trust and equity plan management.

Key Responsibilities

• Management
  • Manage the day-to-day operations of GSTIL and GSTUKL
  • Act as the signatory for GSTIL and GSTUKL for all trusts
  • Ensure GSTIL and GSTUKL discharge all duties as trustee, ensuring compliance with legal and regulatory requirements and industry best practice
  • Ensure the trust's operations comply with the trust deed
  • Maintain fiduciary responsibility and ensure the trust operates in the best interests of beneficiaries
  • Develop and implement trust policies and procedures to safeguard beneficiaries’ interests
  • Maintain meticulous record-keeping and accounting for all trust assets, including separate accounts and regular statements to fulfil fiduciary duties
  • Ensure all trust activities comply with relevant laws, regulations and company policies
  • Conduct regular audits and reviews of trust operations to identify and mitigate risks
  • Liaise with external auditors and regulatory bodies as required (indirect responsibilities)
  • Collaborate with legal, compliance and client service teams to ensure documentation and agreements are in place (including Trust Deed and Tax Certification)
• Board Administration
  • Implement a governance structure for each trust, maintain minute books, set agendas, document and evidence all Trustee decisions and rationale
  • Keep minutes as the central record of the trust's activities and for future decision-making
  • Document that trustees' actions are in accordance with the powers and duties in the trust deed
  • Demonstrate how discretionary powers are exercised in the best interests of beneficiaries
  • Record that trustees’ decisions are in the beneficiaries’ best interests and not for the company or other parties
  • Document potential conflicts of interest and how they are addressed or mitigated
  • Include a review of trust administration fees in the minutes
  • Document audits or reviews of financial statements and operations
  • Summarize how participants are informed about key plan aspects and rights
  • Reference any other key reports or updates provided to the sponsor or stakeholders in the minutes
• Accounts and Assets
  • Oversee opening and management of bank, custodian and brokerage accounts, including signatories and terms
  • Oversee asset movements within the trust (transfers, sales, dividends) in compliance with legal and regulatory requirements
  • Ensure asset movements comply with trust agreements and regulatory requirements
  • Monitor and manage trust assets with documented decisions related to asset management and distribution
• Leadership
  • Lead and develop a team of trust professionals, providing guidance, training and performance management
  • Represent the trust services function across Workplace Solutions
• Registration
  • With the Company Secretary, ensure the Irish trust entity registration (TCSP) application and renewal are undertaken; investigate similar requirements for the UK
• Tax Operations
  • Review trusts to determine if CRBOT registration is required and implement where necessary
  • Conduct tax due diligence and risk assessments for new trust arrangements; ensure teams are aware of obligations
  • Ensure trusts maintain compliance with tax relief requirements as a key benefit of the structures
• Plan Management
  • Coordinate with the EPM team to ensure accurate data updates, record-keeping and reporting of share plan activities related to the trustee
  • Ensure accurate accounting and reporting of trust assets and generate comprehensive asset reports
  • Oversee transaction reporting for trust accounts with regular statements/confirmations from broker-dealers
  • Report transfers of shares to beneficiaries and trust transfers when corporate clients leave
  • Monitor and report all share trading activities by the trustee, ensuring compliance with the Trust Deed and proper documentation
• Termination
  • Oversee all activities required when a trust client terminates Share Plan Services with Workplace Solutions

Educational/Administrative

• The specialized and changing nature of the Employee Benefit Trust practice requires significant time for personal development and training
• Training at JPMorgan consists of fiduciary materials, in-house and external seminars, and Proficiency Training courses offered quarterly
• The Head of Trust Administration assists in training staff, 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 fiduciary products and services, including legal, tax and regulatory requirements
• Experience in the Employee Benefit Trust business, either at a corporate fiduciary or a law firm
• Solid Client Relationship Management experience

About Us

JPMorgan Chase offers innovative financial solutions to consumers, small businesses and clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We offer a competitive total rewards package including base salary and potential incentive compensation. Benefits include comprehensive health care, retirement savings, and other programs. Details about compensation and benefits will be provided during the hiring process.

We are an equal opportunity employer and value diversity and inclusion. We do not discriminate on protected attributes and provide reasonable accommodations as needed. Visit our FAQs for more information about requesting an accommodation.

JPMorgan Chase & Co. is an Equal Opportunity Employer, including Disability/Veterans

About the Team

J.P. Morgan Asset & Wealth Management delivers investment management and private banking solutions. Asset Management provides strategies across asset classes; Wealth Management helps individuals and institutions manage wealth goals.