Fiduciary Officer

Fiduciary Officer – Chicago

Summary – Client is a leading wealth management firm in the US for UHNW and HNW individuals. The fiduciary officer will be instrumental in ensuring the administration of trust accounts for their clients in the Chicago region.

Primary Responsibilities:

• Support internal colleagues in all aspects of the administration of trust accounts where the firm serves as trustee.
• Participate in the review of distribution request memos for content and appropriate supporting documentation, review of Special Investment Requests, review of Power-to-Adjust Requests, etc., including coaching of internal client team members on appropriate submission content.
• Review sophisticated inter-vivos and testamentary trust instruments for high net worth clients and prepare accurate abstract / synopsis of relevant provisions.
• Issue spot newly accepted trusts to provide proper account setup guidance to internal colleagues.
• Prepare Initial Trust Reviews for newly opened trust accounts to assist internal colleagues and ensure accurate administration from inception.
• Oversee the trust termination process when trusts terminate, including drafting Receipt, Release & Refunding Agreements.
• Serve as dedicated fiduciary resource for specialized accounts and assets, such as Irrevocable Life Insurance Trusts.

Additional Responsibilities:

• Support internal colleagues in the administration of trusts including training on appropriate trust administration techniques (overdraft management, discretionary distributions, compliance with trust policies, termination activities, management of special investments, etc.).
• Assist in editing and/or drafting of policies and procedures.
• Review workflows submitted by client teams that pertain to trust accounts to ensure accuracy and proper trust administration.
• Perform additional special projects, as needed (for example, review trusts for compliance with investment policies; review trust accounting system information for accuracy and remediate as necessary, assist with new technology initiatives within the Trust Administration group).
• Work with other internal departments as necessary to effectuate proper trust administration.

Qualifications:

• College degree required; Law degree preferred.
• 3+ years experience in personal trust administration.
• Knowledge of trust law.
• Excellent analytical skills and attention to detail.
• Working knowledge of basic income tax, estate tax, gift tax and GST tax.
• Ability to work independently and self- start projects.
• Excellent interpersonal skills-ability to deal effectively with a wide variety of people.
• A team player.
• Excellent computer skills; proficiency with Microsoft Word and Excel.
• Ability to handle multiple competing priorities and organize tasks effectively.
• Excellent oral and written communication skills.