What are the responsibilities and job description for the Wealth Management Solutions, Trust & Estates - Estate Officer position at JPMorgan Chase?
Job summary:
As a Wealth Management Solutions. Trust & Estates- Estate Officer within the Global Trusts & Estates Practice, you will be responsible for overseeing the administration of estates or terminating includable trusts. You will analyze Wills and trust documents, make recommendations, oversee investment decisions, work with Tax Officers and trust counsel to resolve tax issues, and address questions raised by beneficiaries, co-executors and co-trustees and their advisors. You will also develop relationships with beneficiaries and advisors, maintain current information on beneficiaries, and partner with Wealth Advisors, Bankers, Investors, and Trust Officers to grow the trust and estate business. Your role will also involve training and personal development, as well as assisting in training and developing Estate Administrators and Professionals.
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 JPMorgan is appointed as corporate executor or trustee of a trust includable in the gross estate of the decedent for estate tax purposes, it is the Estate Officer's role to oversee the administration of the estate or terminating includable trust.
This job is open at the Vice President or Executive Director Level.
Job Responsibilities:
• Analyze Wills and 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 executor and or 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)
• Work with Tax Officers and trust counsel to resolve tax issues
• Address questions raised by beneficiaries, co-executors and co-trustees and their advisors
• Work in a team-based environment. 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
• 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
• Partner with client's other advisors (attorney, accountant); highly respected by external professional advisor community
• Develop, retain and deepen client relationships
• 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-sell JPM products/services; maintain and develop strategies for increasing business with current clients; professional advisor cultivation
• Reading the fiduciary materials which are circulated to each Estate Officer, attending in-house and external seminars and taking required Proficiency Training courses offered internally on a quarterly basis
• Assist in training and developing their Estate Administrators and Professionals, including performance management and feedback
Required Qualifications, Skills and Capabilities
- In-depth knowledge of all fiduciary products and services, including all legal, tax and regulatory requirements applicable to fiduciary relationships
- Minimum of 7 years of relevant experience focused in the Trust and Estates business; either at a corporate fiduciary or a law firm
- Solid Client Relationship Management experience
- Comprehensive 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
Preferred Qualifications, Skills and Capabilities
- Bachelor’s Degree required; MBA or other advanced degree is a plus; J.D. strongly preferred
- Knowledge of internal procedures involving distributions, account maintenance, account opening/closing, Investment Systems and Annual Reviews, and management of overdrafts - is a plus.