1+ months

Wealth Management, Estate Settlement Officer - Vice President

JPMorgan Chase & Co.
Chicago, IL 60602
  • Job Code
    190094452

Wealth Management, Estate Settlement Officer - Vice President

Req #: 190094452
Location: Chicago, IL, 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 170 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 executor or trustee of a trust  includable in the gross estate of the decedent for estate tax purposes, it is the Estate Officer's role to oversee the administration of the estate or terminating includable trust. 

 

The responsibilities of this role are as follows:

 
 

Technical and Risk Management

  • Analyze Wills and 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 executor and or 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 and estate law, income, transfer, and generation skipping taxation, with ability to apply that knowledge to post-mortem planning exercises and account administration.
  • Work with Tax Officers and trust counsel to resolve tax issues.
  • Knowledge of internal procedures involving distributions, account maintenance, account opening/closing, AAR and ARP process, and management of overdrafts - is a plus.
  • Address questions raised by beneficiaries, co-executors and co-trustees and their advisors.
  • Ability to work in a team-based environment.
 

Client Relationship Management

  • Estate Officers must develop relationships with beneficiaries and advisors in order to have appropriate knowledge to carry out the decedent and or grantor’s purposes and meet the needs of the beneficiaries.  Estate 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 client relationships.
 

New Business

  • Partner with Wealth Advisors, Bankers, Investors, and Trust Officers to grow the trust and estate business.  This includes participating in team discussions and strategy around structuring, pricing and closing trust and estate services including:  estates, family trusts, charitable trusts, and  specialized Delaware trusts.
  • Cross-selling of JPM products/services; maintain and develop strategies for increasing business with current clients; professional advisor cultivation.

Educational/Administrative:
  • The specialized and ever changing nature of the Trust and Estate practice requires that Estate 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 Estate Officer, attending in-house and external seminars and taking required Proficiency Training courses offered internally on a quarterly basis. 
  • Estate Officers are also required to assist in training and developing their Estate Administrators and Professionals, including performance management and feedback


Qualifications
  • Bachelors Degree required; MBA or other advanced degree is a plus; J.D. strongly 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 and Estate business; either at a corporate fiduciary or a law firm
  • Solid Client Relationship Management experience



Keyword: consumer%20banking

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Posted: 2019-10-04 Expires: 2019-11-24

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Wealth Management, Estate Settlement Officer - Vice President

JPMorgan Chase & Co.
Chicago, IL 60602

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