Trust Officer

JPMorgan Chase & Co. • Remote (Wilmington, DE, US) • 1w ago

Bessemer’s Delaware bank has an opening for a Trust Officer in its Wilmington office. The office supports Ultra High Net Worth clients, and has grown since its formation in 2004, to administer more than 1,650 trusts with more than $120 billion in assets under supervision. As a result of Delaware’s unique trust laws and the related unusual assets held in these trusts, the work is heavily transactional. The ideal candidate, in addition to having traditional estate planning and fiduciary taxation strengths, would be comfortable with complex transactional work and income tax matters.

Responsibilities:

Work with Bessemer’s Client Advisor teams to support proper administration of an assigned book of sophisticated trusts.
Prepare and/or review documents relating to the transfer of trusts to BTDel (e.g. Acceptances of Appointment, Direction Letters).
Coach members of the Client Advisory teams in the proper account structure, funding, fees and coding related to new account opening.
Review governing instruments (e.g. trust agreements and wills) and prepare trust analyses as part of the Initial Trust Review process; follow up on critical identified action items that remain outstanding to ensure proper trust administration.
Review sophisticated transaction documents and participate with Estate Planners, Client Advisory teams and clients’ outside counsel and/or family offices to adjust content/structure as needed to properly implement various funding, lending and other complex transactions; draft related Direction Letters for such transactions, as needed.
Work with Client Advisory teams to support all steps in the termination process including the preparation of informal settlement documents (Receipts and Releases).
Serve as an in-house resource for trust administration questions (resolving overdrafts, guidance on actions that may/may not be permissible under the trust’s terms, identification of solutions and work-arounds for various problems as they arise, identifying and applying appropriate state and/or federal law to given situations – generally coaching and supporting Client Advisory teams to ensure correct trust administration).
Review, edit, and present Discretionary Distribution and Special Investment Requests prepared by Client Advisors for presentation to Committee as part of the ongoing trust administration.
Implement special projects in support of department and fiduciary risk management initiatives.
Develop and present training modules and materials as assigned.
Participate actively in firm-wide committee assignments as such opportunities are identified.

Qualifications:

J.D. required (and at least one license to practice law preferred)
Minimum of 3-5 years of experience in personal trust administration
Knowledge of income tax, estate tax, gift tax and GST tax
Knowledge of trust law (knowledge of DE trust law preferred)
Excellent analytical skills and attention to detail
Good interpersonal skills and the ability to deal effectively with a wide variety of people
Must be a team player
Effective computer skills: proficiency with Microsoft Word and Excel; familiarity with PowerPoint; comfortable learning new software packages (banking-related)
Highly motivated and a self-starter; independent thinking encouraged
Effective organizational skills (able to handle multiple priorities)
Excellent communication skills

About Bessemer Trust
Bessemer Trust is a leading multifamily office, overseeing more than $200 billion in assets for 3,000 individuals and families of substantial wealth. Its 1,200 employees are singularly focused on private wealth management — disciplined investment management, sophisticated wealth planning, comprehensive family office services, and highly personalized client service.

Established in 1907 as the family office for Annie and Henry Phipps, Bessemer Trust is in its seventh generation of ownership by the Phipps family. As a self-made entrepreneur, Henry Phipps was a founding partner and chief financial officer of Carnegie Steel.

Bessemer Trust retains its original focus as a privately owned and independent wealth manager deeply committed to its mission of providing peace of mind to its clients. Bessemer's adherence to putting clients' interests first, fiduciary mindset, and highly collaborative culture are at the heart of everything the firm does.

Key Facts

For 117 years, Bessemer Trust has operated continuously in a single line of business, independently owned by one family.
Headquartered in New York’s Rockefeller Center, Bessemer Trust has 22 offices in total. Woodbridge, NJ, is one of the firm’s largest offices, which hosts a wide range of technology and operations professionals. In addition to its sizable presence in New York and Woodbridge, the firm provides client service through offices in Atlanta, Boston, Chicago, Dallas, Delaware, Denver, Garden City, Grand Cayman, Greenwich, Houston, Los Angeles, Miami, Naples, Nevada, Palm Beach, San Diego, San Francisco, Seattle, Stuart, and Washington, D.C.
To watch a video about Bessemer Trust’s history, click here.
To learn more about Bessemer Trust, click here.

About Our Employee Rewards and Benefits

We provide exceptional rewards and benefits that are among the best in the industry, giving our people access to a wide range of options, including:

Competitive base salary plus discretionary annual bonus for select positions
A 401(k) plan with a generous annual profit-sharing contribution
Personalized development and career opportunities, including tuition reimbursement support
Comprehensive medical, dental, and vision plans with zero contributions for employee coverage
Employee assistance (EAP) and wellness programs
Hybrid work environment: 60% in office, 40% remote for most positions
Paid time off and paid parental leave
Employer-paid life insurance and short- and long-term disability coverage
Legal services and financial wellness plans at no cost to employees

Bessemer Trust is committed to creating a diverse and inclusive environment and is proud to be an equal opportunity employer. We encourage candidates of diverse backgrounds to apply.

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