JPMorgan Chase Wealth Management – Trusts & Estates - Estate Administrator, Associate in Dallas, Texas
J.P. Morgan Asset & Wealth Management, with client assets of $2.8 trillion, is a global leader in investment and wealth management. Its clients include institutions, high-net-worth individuals and retail investors in every major market throughout the world. The division offers investment management across all major asset classes including equities, fixed income, alternatives, multi-asset and money market funds. For individual investors, the business also provides retirement products and services, brokerage and banking services including trusts and estates, loans, mortgages and deposits.
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 for estate tax purposes, the Estate Administrator works under the supervision of the Estate Officer in the administration of the accounts. The Estate Administrator is expected to have or develop the skills to provide leverage and back-up coverage for the Estate Officer with whom the Estate Administrator works.
The responsibilities of this role are as follows:
Technical and Risk Management
Work with the Account Opening Group to open estate or trust accounts. Interpret the governing instrument and applicable law to ensure the proper set-up of account records, including payments, fee schedules (when appropriate) and tax records. Communicate with beneficiaries and co-executors or co-trustees to outline administrative procedures
Respond to client issues, anticipate client needs, and prepare for and participate in client meetings with the Estate Officer
Work with the Tax Officers and counsel on income, gift, estate, and generation skipping taxes for the trust/estate and its beneficiaries
Handle ongoing day to day administration of accounts, 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 an estate or trust, consistent with any applicable policies and procedures governing the risk in question. Utilize risk management tools, such as the overdraft report, daily transaction report, Administrative 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
Client Relationship Management
- Estate Administrator must actively participate in dealing with interested parties and develop relationships with income beneficiaries, co-executors and co-trustees and intermediaries in order to have appropriate knowledge to carry out the decedent and or grantor’s purposes and meet the needs of the beneficiaries
The specialized and ever changing nature of the Trust and Estate practice requires that Estate Administrators 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
Coaching and training junior members of the team, especially in fundamental trust, estate and tax concepts
Bachelor's degree required.
A minimum of 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 estates and 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 communication
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
JPMorgan Chase is an equal opportunity and affirmative action employer Disability/Veteran.