JP Morgan Chase & Co.

Wealth Management, Trust Administrator, New York

JP Morgan Chase & Co.$80K — $120K *
Finance & Insurance
Less than 5 years of experience
Job Overview by Ladders

Qualifications

  • Bachelor's degree required.
  • Minimum of 2 years experience in the trust and estates industry.
  • Understanding of fiduciary products, legal, tax, and investments knowledge.
  • Strong problem-solving and risk management skills.
  • Proficient in client servicing and relationship management.
  • Experience with teamwork and personal effectiveness.
  • Strong computer skills, particularly with trust accounting systems.

Responsibilities

  • Open trust accounts with the Account Opening Group and manage account records.
  • Proactively address client issues and participate in meetings with the Trust Officer.
  • Collaborate with Tax Officers on related taxes for trusts and estates.
  • Handle requests for discretionary distributions and prepare supporting memoranda.
  • Manage ongoing administration of accounts and mitigate operational risks.
  • Communicate actively with investors on investment matters.
  • Participate in departmental projects and various committees.

Benefits

  • Opportunity for personal development and training in trust and estates.
  • Work with a diverse range of clients.
  • Join a team with a history of excellence in corporate fiduciary services.
Full Job Description
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 JP Morgan Chase & Co.

JP Morgan Chase & Co. stands at the forefront of the global financial services industry. They offer an expansive array of products and services to a diverse clientele, including individuals, corporations, governments, and institutions. Ever since the merger of J.P. Morgan & Co. and Chase Manhattan Corporation in 2000, this industry-leading entity has become renowned for its comprehensive portfolio encompassing consumer and community banking, corporate and investment banking, commercial banking, as well as asset and wealth management. Headquartered in the vibrant city of New York, JP Morgan Chase & Co. boasts a formidable presence across over 100 countries worldwide.

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Vacancies and Hiring Initiatives

JP Morgan Chase & Co. is continuously on the lookout for talented individuals eager to contribute to its legacy of excellence. The company's recruitment efforts are geared towards identifying candidates with the right blend of skills and qualifications to drive forward its various business segments. Whether you are a seasoned professional or a recent graduate, JP Morgan Chase offers a plethora of job openings across multiple disciplines.

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Your job application, comprising your resume and cover letter, is your ticket to securing an interview at JP Morgan Chase. Highlight your qualifications, skills, and experiences that align with the job listing, ensuring you stand out in the competitive job market.

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Preparation is key to succeeding in your interview with JP Morgan Chase. Familiarize yourself with the company's business segments, values, and recent achievements. Demonstrating how your background and aspirations match the company's goals can significantly increase your chances of employment. A World of Job Opportunites in the Financial Services Industry JP Morgan Chase & Co. offers a world of job opportunities for those seeking to make their mark in the financial services industry. With competitive salaries, comprehensive benefits, and endless possibilities for growth, positions at JP Morgan Chase are highly coveted. By staying informed through job sites, tailoring your applications, and preparing thoroughly for interviews, you can enhance your prospects of joining the esteemed ranks of JP Morgan Chase employees. Explore the job board, seize the job opportunities, and embark on a rewarding career journey with one of the world's leading financial institutions.
Learn more about JP Morgan Chase & Co.
Size
661 employees
Market Cap
$384.5 billion
Industry
Net Income
$29.1 billion
Founded
1823
5 Year Trend
+0.7%
Revenue
$261.5 million
NASDAQ

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