14 days old

J.P. Morgan Wealth Management - Private Foundation Services Trust Administration Associate

JPMorgan Chase & Co.
Dallas, TX 75201
  • Job Code

J.P. Morgan Wealth Management - Private Foundation Services Trust Administration Associate

Req #: 190100164
Location: Dallas, TX, US
Job Category: Wealth Management
Potential Referral Amount: US Dollar (USD)

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. 


The Private Foundations Services Team of the J.P. Morgan Private Bank serves as a clearinghouse for the philanthropic interest of clients, offering guidance around family philanthropy.  The group provides grant making services, overseeing over $100 million in annual giving on behalf of clients.  When JPMorgan is appointed as corporate trustee or agent of a trust or private foundation engaging in grant-making activity, the Private Foundation Services Team is involved to support all administrative aspects in furtherance and support of those activities.  Within the team, the Trust Administrative Officer works under the supervision of the Trust Officer in the administration of the accounts and in partnership with Grants Administration Managers and Program Officers  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 the

governing instrument and applicable law to ensure the proper set-up of account

records, including payments, fee schedules and tax records. Communicate with

beneficiaries and co-trustees to outline administrative procedures

Respond to client issues, anticipate client needs, and prepare for and

participate in client meetings with the Trust Officer

Work with the Tax Officers 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.  Prepare

memoranda supporting recommendation regarding how the Bank shall exercise

discretionary powers it has as trustee.  Confer with co-trustee (if any) to obtain

his/her approval.  Coordinate with Trust Officer on the communication of the

decision to client and follow-up action on the request as necessary

Handle ongoing day to day administration of account, and proactively manage

account base in an effort to avoid and minimize service and operational issues.

Oversee the work performed by various operational groups.  Identify risk that

might be incurred in connection with a trust, consistent with any applicable

policies and procedures governing the risk in question. 

Work with Program Officers to provide support on grant making process and liaise with other departments as needed; Support Trust Officer and/or Program Officer in prepping board meeting materials;

Participate in client outreach and prospecting activities via conference calls and/or in-person meetings.

Utilize risk management tools, such as the overdraft report, daily transaction report, Administrative

Review, Holistic Review and the AAR Variance Report to ensure that all exceptions are properly addressed and kept to a minimum

Communicate with Investors regarding investment matters and liquidity needs

Handle departmental projects relating to accounts and special assets.

Participate on various committees as needed

When the trust terminates the account is transferred to the Trust Settlement

group.  The Trust Administrative Officer is responsible for ensuring appropriate

steps are taken to minimize risk, including canceling payments and statements,

where appropriate, and obtaining necessary documents for the Settlements


Client Relationship Management

Trust Administrative Officers must actively participate in dealing with interested

parties and develop relationships with income beneficiaries, foundation boards, co-trustees and

intermediaries in order to have appropriate knowledge to carry out the grantor’s

purposes and meet the needs of the beneficiaries


The 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 developments


Bachelor's degree or relevant experience required.

A minimum of 1-3 years’ experience in the trust and Estates industry

 Advanced degree such as JD, industry certification such as CTFA or paralegal

certificate, with paralegal experience in trust and estates practice preferred.

Experience in the administration and support of trusts including general

understanding of fiduciary products and concepts, including legal, tax and

investments knowledge

Problem Solving/Risk Management – takes initiative, decisive, accountable,

exhibits critical analysis and judgment

Client Servicing – client knowledge, client relationships, proactive


Teamwork/Personal Effectiveness – clear and concise communication, time

management, adaptability to delegate, coaching and training

Cross Selling and Retention skills

Strong computer skills including proficiency with trust accounting systems

Experience with JPMorgan fiduciary platform a plus

Keyword: consumer%20banking


Posted: 2019-10-29 Expires: 2019-11-28

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J.P. Morgan Wealth Management - Private Foundation Services Trust Administration Associate

JPMorgan Chase & Co.
Dallas, TX 75201

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