JPMorgan Chase Wealth Management, Trust Officer Team Leader (ED) in Rochester, New York
Team Lead, Executive Director
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, it is the Trust Officer's role to oversee the administration of the trust.
Technical and Risk Management
Analyze 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 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).
Comprehensive knowledge of trust law, gifting techniques, income, transfer, and generation skipping taxation, with ability to apply that knowledge to client specific planning exercises and account administration.
Work with Tax Officers and trust counsel to resolve tax issues.
Knowledge of internal procedures involving discretionary distributions, account maintenance, account opening/closing, AAR and ARP process, and management of overdrafts - is a plus.
Address questions raised by beneficiaries, co-trustees and their advisors.
Ability to work in a team-based environment.
Client Relationship Management
Trust Officers must develop relationships with beneficiaries and advisors in order to have appropriate knowledge to carry out the grantor's purposes and meet the needs of the beneficiaries. Trust Officers have responsibility to 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.
Ability to partner with client's other advisors (attorney, accountant); highly respected by external professional advisor community.
Develop, retain and deepen trust account relationships.
Partnering with Wealth Advisors with respect to the vetting and pricing of new trust business, including developing a full understanding of the purposes of the trust, the nature of JPM's role, the risks inherent in the structure and underlying assets, and the client's expectations.
Cross-selling of JPM products/services; maintain and develop strategies for increasing business with current clients; professional advisor cultivation.
The specialized and ever changing nature of the Trust practice requires that Trust Officers devote a significant amount of time to personal development and training. Training at JPMorgan consists of reading the fiduciary materials which are circulated to each Trust Officer, attending in-house and external seminars and taking required Proficiency Training courses offered internally on a quarterly basis.
Trust Officers are also required to assist in training and developing their Trust Administrative Officers and Professionals, including performance management and feedback.
Bachelors Degree required; MBA or other advanced degree is a plus; J.D. preferred
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 business; either at a corporate fiduciary or a law firm
Solid Client Relationship Management experience
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.
The health and safety of our colleagues, candidates, clients and communities has been a top priority in light of the COVID-19 pandemic. JPMorgan Chase was awarded the "WELL Health-Safety Rating" for all of our 6,200 locations globally based on our operational policies, maintenance protocols, stakeholder engagement and emergency plans to address a post-COVID-19 environment.
As a part of our commitment to health and safety, we have implemented various COVID-related health and safety requirements for our workforce. Employees are expected to follow the Firm's current COVID-19 or other infectious disease health and safety requirements, including local requirements. Requirements include sharing information including your vaccine card in the firm's vaccine record tool, and may include mask wearing. Requirements may change in the future with the evolving public health landscape. JPMorgan Chase will consider accommodation requests as required by applicable law.
Equal Opportunity Employer/Disability/Veterans