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Wealth Management - International Fiduciary Services - Fiduciary Executive - ED - Nassau, Bahamas

Req #: 170101584
Location: Nassau, NP, BS
Job Category: Asset Management
Potential Referral Amount: 0 US Dollar (USD)
J.P. Morgan Trust Company (Bahamas) Limited
Fiduciary Executive
 
 
Our Team:
The International Trust Services (“ITS”) practice group provides trustee and related fiduciary services to clients of the J.P. Morgan Private Bank around the world. The ITS team administers structures established for private banking clients from Latin America, EMEA and Asia. The Global Trusts and Estates business represents $165bn in assets; the international trust business represents $49 bn in assets, administered through approximately 2400 fiduciary structures.
 
The Role:
The Fiduciary Executive (FE) is a part of the Senior Management Team within the Bahamas trust business.  The FE is charged with providing technical, administrative, legal, and risk management support to the Team Leaders (TLs), Trust Officers (TOs) and Trust Administrators (TA) and other team members  related to trusts administered in the Bahamas. 
 
The FE role is broad and includes covering trust teams aligned with Latin America, Asia and EMEA as well as those covering US connected trusts. Responsibilities include the following activities:  
  • Partner with the Bahamas Trust Company Team Leader who is responsible for managing the TOs and TAs in the Bahamas
  • Coordinate and partner with additional Fiduciary Executive coverage that may be assigned to the Bahamas team on some or all FE  responsibilities
  • Provide advice on and facilitate the resolution of complex technical issues and questions with TLs, TOs and TAs. 
  • Be a part of the approval process as necessary for discretionary decisions submitted by TOs, approve money transfers & other transactional approvals
  • Provide document interpretation and analysis of the relevant policies, procedures, laws and regulations.
  • Provide guidance/approval on investment exceptions requiring fiduciary input
  • Assist in the termination/closing of small or troublesome accounts and advise on resignations.
  • Assist in the resolution of client complaints and other challenges from co-trustees and/or beneficiaries
  • Review all Annual Administrative Account Reviews that present potential risk issues and advise TOs and TAs on resolution of open action plans.
  • Monitor monthly/weekly administrative metrics and follow-up with TOs and TAs to assure resolution of outstanding issues. 
  • Provide informal training and guidance though participation in Team meetings with TOs and staff.
  • Back up Team Leader as needed to facilitating account acceptance and opening for new Trust and Agency relationships.
  • Escalate threatened and actual litigation to senior management and work with internal and external legal counsel to ensure responses are thorough and to facilitate optimal resolution of all client disputes.
  • In partnership with Team Leader, manage front office completion of all compliance and risk management projects including follow-up and resolution of open issues.
  • Provide review and input on proposed policy additions and changes.
  • Assist in the process improvement & enhanced risk management of the Bahamas trust business including identification of new or emerging gaps, risks or inconsistencies for escalation and resolution with internal partners
Required Skills:
Broad knowledge of all legal, tax and regulatory requirements applicable to fiduciary relationships.  Superior risk management, practical judgment and problem solving skills.  Excellent communication and interpersonal skills and demonstrated ability to work collaboratively.
 
Desired Background/Experience:
Law degree required.  Minimum 8 years of international and/ or US trust and/or estate experience at a law firm or corporate fiduciary.  Experience with clients around trust administration, tax and investments desired.
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