J.P. Morgan Wealth Management - Trust Administrator, Trusts & Estates - Associate / Vice President - Fort Worth

Compensation

: $132,420.00 - $206,040.00 /year *

Employment Type

: Full-Time

Industry

: Accounting



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JPMorgan 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. The Global Trusts & Estates Practice is an integral part of the services we offer to clients. With over 160 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 trustee of a trust, whether created by a client during his lifetime or upon his death through a provision in his will, the Trust Administrative Officer works under the supervision of the Trust Officer in the administration of the accounts. The Trust Administrative Officer is expected to have or develop the skills to provide leverage and back-up coverage for the Trust Officer with whom the Trust Administrative Officer works. The responsibilities of this role are as follows: Technical and Risk Management Work with the Account Opening Group to open trust accounts. Interpret thegoverning instrument and applicable law to ensure the proper set-up of accountrecords, including payments, fee schedules and tax records. Communicate withbeneficiaries and co-trustees to outline administrative proceduresRespond to client issues, anticipate client needs, and prepare for andparticipate in client meetings with the Trust OfficerWork with the Tax Officers and counsel on income, gift, estate, and generationskipping taxes for the trust/estate and its beneficiariesRespond to requests from beneficiaries for discretionary distributions. Preparememoranda supporting recommendation regarding how the Bank shall exercisediscretionary powers it has as trustee. Confer with co-trustee (if any) to obtainhis/her approval. Coordinate with Trust Officer on the communication of thedecision to client and follow-up action on the request as necessaryHandle ongoing day to day administration of account, and proactively manageaccount base in an effort to avoid and minimize service and operational issues.Oversee the work performed by various operational groups. Identify risk thatmight be incurred in connection with a trust, consistent with any applicablepolicies and procedures governing the risk in question. Utilize risk managementtools, such as the overdraft report, daily transaction report, AdministrativeReview, Holistic Review and the AAR Variance Report to ensure that allexceptions are properly addressed and kept to a minimumCommunicate with Investors regarding investment matters and liquidity needsHandle departmental projects relating to accounts and special assets.Participate on various committees as neededWhen the trust terminates the account is transferred to the Trust Settlementgroup. The Trust Administrative Officer is responsible for ensuring appropriatesteps are taken to minimize risk, including canceling payments and statements,where appropriate, and obtaining necessary documents for the SettlementsgroupClient Relationship ManagementTrust Administrative Officers must actively participate in dealing with interestedparties and develop relationships with income beneficiaries, co-trustees andintermediaries in order to have appropriate knowledge to carry out the grantor spurposes and meet the needs of the beneficiaries Educational/AdministrativeThe specialized and ever changing nature of the Trust practice requires that Trust Administrative Officers devote time to personal development and training. Training at JPMorgan includes internal sessions covering systems changes, practices and procedures, Q & A sessions offered to facilitate understanding of our environment and sessions on technical, legal, tax and regulatory developmentsQualifications:Bachelor's degree required.A minimum of 1-8 years experience in the trust and estates industryAdvanced degree such as JD, industry certification such as CTFA or paralegalcertificate, with paralegal experience in trust and estates practice preferred.Experience in the administration and support of trusts including generalunderstanding of fiduciary products and concepts, including legal, tax andinvestments knowledgeProblem Solving/Risk Management takes initiative, decisive, accountable,exhibits critical analysis and judgmentClient Servicing client knowledge, client relationships, proactivecommunicationTeamwork/Personal Effectiveness clear and concise communication, timemanagement, adaptability to delegate, coaching and trainingCross Selling and Retention skillsStrong computer skills including proficiency with trust accounting systemsExperience with JPMorgan fiduciary platform a plus * The salary listed in the header is an estimate based on salary data for similar jobs in the same area. Salary or compensation data found in the job description is accurate.

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