J.P. Morgan Private Bank, which includes both the High Net Worth and Ultra High Net Worth businesses, offers individuals and families personalized, comprehensive financial solutions that integrate sophisticated investment management, capital markets, trust and banking capabilities and has been repeatedly recognized by Euromoney as the #1 Private Bank for High Net Worth and Ultra High Net Worth individuals in the United States. We have more than 1,800 client advisors in 120 offices in 11 countries and 25 states.
Trust Administrators work with the Senior Trust Officers in the management of fiduciary accounts. Under the supervision of a Senior Trust Officer, the Trust Administrator manages trust and estate accounts in accordance with the Bank's fiduciary responsibilities as trustee and executor. The job duties include the following:
Interpret the governing instrument and applicable law in order to establish account records, including payment and fee schedules. Write to beneficiaries and co-fiduciaries to outline administrative procedures.
Respond to client issues, anticipate client needs, and prepare for and participate in client meetings with Trust Manager.
Work with the Tax Department 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. Submit memoranda to Trust and Investment Committee for approval. Confer with co-trustee (if any) to obtain his/her approval. Communicate decision to client and follow-up with the request as necessary.
Oversee work performed by various Private Banking operational groups to ensure the smooth operation of the trust and estate accounts.
Communicate with portfolio managers regarding investment objectives and liquidity needs.
Handle departmental projects relating to accounts and special assets. Participate on various committees as needed.
Responsibilities in the administration of estates : - Identify, collect and secure decedent's tangible and intangible assets. Assist in coordinating appraisals of personal property with auction houses and estate liquidators. Arrange for estate tax valuations. Notify beneficiaries of provisions of Will, determine beneficiaries' preferences with regard to the form of distributions, satisfy specific bequests and establish testamentary trusts. Organize estate records and valuations for use by Counsel in preparation of death tax returns. Review death tax returns upon completion. Gather information requested by I.R.S. for an estate tax audit and attend meeting with auditor(s). Coordinate with Counsel in regard to preparation of an accounting, Receipt and Releases or court filings for judicial settlement; Coordinate final distributions and closure of account.
Responsibilities in the settlement of trusts : Coordinate flow of work relative to terminating accounts with internal departments. Write to remaindermen, executors and trust counsel outlining trust dispositive provisions and termination procedures for distribution of assets. Determine type of distribution and method of accounting with counsel and remaindermen. Review or prepare Letter Agreements/Receipt and Release Agreements and/or court filings and oversee the preparation and review of accountings. Coordinate final distributions and closure of account.
Qualifications:
Minimum 2 years Trust experience
International trust administration experience a plus
Trusts & Estates paralegal experience preferred
College degree
JD preferred
A solid understanding of related legal, tax and financial concepts also preferred
Strong interpersonal, communication (written and oral), organizational and analytical skills are essential
JPMorgan Chase & Co., 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 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. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.
