Philadelphia Estate Planning Council

Details

Trust Officer - Bessemer Trust

Tuesday, January 04, 2022 10:08 AM | Anonymous

Bessemer’s Delaware bank has an opening for a Trust Officer in its Wilmington office, located in Wilmington’s Montchanin community. The office supports Ultra High Net Worth clients, and has grown since its formation in 2004, to administer more than 1,400 highly customized trusts with more than $92 billion in assets under supervision. Delaware’s unique trust laws and the ability of Delaware trusts to hold unconventional assets provide for a distinctively transactional work environment. The ideal candidate, in addition to having traditional estate planning and taxation strengths, would be comfortable with transactional work and income tax matters. That said, we are open to training an exceptional individual who might bring significant promise or transferrable skills rather than direct experience with Delaware trusts and tax knowledge.

Responsibilities:

  • Work with Client Advisor (relationship management) teams to support and ensure proper administration of an assigned book of sophisticated trusts.
  • Prepare documents relating to the transfer of trusts to Bessemer Delaware (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 openings.
  • 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 transaction documents and participate with Estate Planners, Client Advisory teams and clients’ outside counsel to adjust content/structure as needed to properly implement various funding, lending and other complex transactions; draft related Direction Letters.
  • Serve as an in-house resource for trust administration questions - solving overdrafts, providing guidance on actions that may/may not be permissible under the trust’s terms, identifying 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 and edit Discretionary Distribution and Special Investment Requests for presentation to Committee as part of the ongoing trust administration.
  • Work with Client Advisory teams to support all steps in the termination process including the preparation of informal settlement documents (Receipts and Releases).
  • Implement special projects in support of department and fiduciary risk management initiatives.
  • Develop and present department and firmwide training modules and materials.

Qualifications:

  • J.D. required (and at least one license to practice law preferred)
  • Experience in personal trust administration or estate settlement preferred
  • 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
  • Excellent interpersonal skills and the ability to deal effectively with a wide variety of people
  • Effective at working in a team environment, collaborative, and respectful of others
  • Effective computer skills; proficiency with Microsoft Word and Excel; familiarity with PowerPoint; comfortable learning new software packages (banking-related)
  • Motivated, solution oriented and a self-starter; independent thinking encouraged
  • Excellent organizational skills (able to handle multiple priorities)
  • Excellent communication skills (oral and written)

If you are interested in the position, please submit an email with resume to Lillian Meyer (meyerl@bessemer.com). Please clearly indicate you are interested in the Wilmington, DE Trust Officer position.

Securities licenses will not generally be obtained or maintained unless deemed by Bessemer Trust to be required in order for you to perform the responsibilities of this position.

Please note: Bessemer requires that all applicants are fully vaccinated against COVID-19. Additionally, applicants will need to provide proof of vaccination prior to starting employment.

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.


Philadelphia Estate Planning Council 
P.O. Box 579
Moorestown, NJ 08057-0579

Phone: (215) 486-6215
Fax: (856) 727-9504
Email: staff@philaepc.org

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