Fiduciary Officer

Fiduciary Officer Job Primary Responsibilities: Support internal colleagues in all aspects of the administration of trust accounts where Bessemer 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 Bessemer departments as necessary to effectuate proper trust administration. Qualifications: College degree required; Law degree preferred. 5+ years experience in personal trust administration, working knowledge of Trust Laws Fast learner with the ability to learn on the job 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. About Bessemer Trust Bessemer Trust is a leading multifamily office, overseeing more than $200 billion in assets for 3,000 individuals and families of substantial wealth. Its 1,200 employees are singularly focused on private wealth management "” disciplined investment management, sophisticated wealth planning, comprehensive family office services, and highly personalized client service. Established in 1907 as the family office for Annie and Henry Phipps, Bessemer Trust is in its seventh generation of ownership by the Phipps family. As a self-made entrepreneur, Henry Phipps was a founding partner and chief financial officer of Carnegie Steel. Bessemer Trust retains its original focus as a privately owned and independent wealth manager deeply committed to its mission of providing peace of mind to its clients. Bessemers adherence to putting clients interests first, fiduciary mindset, and highly collaborative culture are at the heart of everything the firm does. Key Facts For 117 years, Bessemer Trust has operated continuously in a single line of business, independently owned by one family. Headquartered in New York's Rockefeller Center, Bessemer Trust has 22 offices in total. Woodbridge, NJ, is one of the firm's largest offices, which hosts a wide range of technology and operations professionals. In addition to its sizable presence in New York and Woodbridge, the firm provides client service through offices in Atlanta, Boston, Chicago, Dallas, Delaware, Denver, Garden City, Grand Cayman, Greenwich, Houston, Los Angeles, Miami, Naples, Nevada, Palm Beach, San Diego, San Francisco, Seattle, Stuart, and Washington, D.C. To watch a video about Bessemer Trust's history, click here. To learn more about Bessemer Trust, click here. About Our Employee Rewards and Benefits We provide exceptional rewards and benefits that are among the best in the industry, giving our people access to a wide range of options, including: Competitive base salary plus discretionary annual bonus for select positions A 401(k) plan with a generous annual profit-sharing contribution Personalized development and career opportunities, including tuition reimbursement support Comprehensive medical, dental, and vision plans with zero contributions for employee coverage Employee assistance (EAP) and wellness programs Hybrid work environment: 60% in office, 40% remote for most positions Paid time off and paid parental leave Employer-paid life insurance and short- and long-term disability coverage Legal services and financial wellness plans at no cost to employees 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.

Created: 2024-11-01