Wealth Management, Trust Administrator, New York - VP

JPMorganChase; New York (NY); On-site; USD 100,000 - 140,000; Full time

Job summary

JPMorganChase is seeking a Trust Administrator in the Global Trusts & Estates Practice. You will support account setup, beneficiary communications, and day-to-day administration while managing risk and client relationships.

This role offers exposure to fiduciary products, tax considerations, and a path to professional development within a historic financial institution. Under supervision of the Trust Officer, you will ensure proper records, coordinate with legal and tax teams, and contribute to

Qualifications

• Bachelor's degree required.
• Minimum 2 years experience in the trust and estates industry.
• Experience with fiduciary products and related tax/investment concepts.
• Proactive problem solving and risk management mindset.
• Strong client servicing and relationship skills.
• Clear communication and teamwork abilities.
• Knowledge of cross-selling and client retention.

Responsibilities

• Open trust accounts with proper documents and tax records.
• Assist with client meetings and respond to inquiries.
• Coordinate tax matters for trusts with Tax Officers and counsel.
• Prepare memoranda for discretionary distributions and approvals.
• Oversee day-to-day trust administration and risk management.
• Communicate investment and liquidity matters to investors.
• Participate in committees and special projects.

Skills

Bachelor's degree

2 years experience

Fiduciary knowledge

Problem solving

Client servicing

Teamwork

Communication

Cross selling

Trust accounting systems

Education

Bachelor's degree

Tools

Trust accounting systems

Job description

Job Description

J.P. Morgan Asset & Wealth Management, with client assets of $2.8 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.

Job Description

J.P. Morgan Asset & Wealth Management, with client assets of $2.8 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits. As a Trust Administrator within the Global Trusts & Estates Practice, you will play a crucial role in delivering our Trusts and Estates services. You will work under the supervision of the Trust Officer in the administration of accounts, ensuring the proper set-up of account records, communicating with beneficiaries and co-trustees, and handling ongoing day to day administration of accounts. You will also be responsible for risk management, client relationship management, and personal development and training. This role provides an opportunity to develop your skills in the trust and estates industry, work with a diverse range of clients, and contribute to a team with a long history of excellence in serving as a corporate fiduciary for families.

Job Responsibilities

Technical and Risk Management

• 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. Prepare memoranda supporting recommendation regarding how the Bank shall exercise discretionary powers it has as trustee. Confer with co-trustee (if any) to obtain their 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. Identify risk that might be incurred in connection with a trust, consistent with any applicable policies and procedures governing the risk in question. Utilize risk management tools, such as the overdraft report, daily transaction report, Administrative Review, Holistic Review and the AAR Variance Report 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

The Trust Administrative Officer is responsible for ensuring appropriate steps are taken to minimize risk, including canceling payments and statements, where appropriate, and obtaining necessary documents for the Settlements group

Client Relationship Management

• Actively participate in dealing with interested parties and develop relationships with income beneficiaries, co-trustees and intermediaries in order to have appropriate knowledge to carry out the grantor's purposes and meet the needs of the beneficiaries

Required Qualifications, Skills And Capabilities

• Bachelor's degree required.
• A minimum of 2 years experience in the trust and estates industry
• 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 – takes initiative, decisive, accountable, exhibits critical analysis and judgment
• Client Servicing – client knowledge, client relationships, proactive communication
• Teamwork/Personal Effectiveness – clear and concise communication, time management, adaptability to delegate, coaching and training
• Cross Selling and Retention skills
• Strong computer skills including proficiency with trust accounting systems

Preferred Qualifications, Skills And Capabilities

• Experience with JPMorgan fiduciary platform a plus
• Advanced degree such as JD, industry certification such as CTFA or paralegal certificate, with paralegal experience in trust and estates practice preferred.

ABOUT US

JPMorganChase, one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today 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 determined based on the role, experience, skill set and location. Those in eligible roles may receive commission-based pay and/or discretionary incentive compensation, paid in the form of cash and/or forfeitable equity, awarded in recognition of individual achievements and contributions. We also offer a range of benefits and programs to meet employee needs, based on eligibility. These benefits include comprehensive health care coverage, on-site health and wellness centers, a retirement savings plan, backup childcare, tuition reimbursement, mental health support, financial coaching and more. Additional details about total compensation and benefits will be provided during the hiring process.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. We also make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as mental health or physical disability needs. 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 industry-leading investment management and private banking solutions. Asset Management provides individuals, advisors and institutions with strategies and expertise that span the full spectrum of asset classes through our global network of investment professionals. Wealth Management helps individuals, families and foundations take a more intentional approach to their wealth or finances to better define, focus and realize their goals.