Trust Officer

About the role

The Trust Officer at Brown Brothers Harriman coordinates and administers trust accounts for various clients, working closely with BBH relationship teams, clients, accountants, trusts & estates attorneys, and other intermediaries. This role involves direct interaction with BBH clients and managing a diverse book of trust accounts.

Responsibilities

• Taking primary responsibility and ownership for a diverse book of trust accounts with support from a Senior Trust Officer and/or Trust Company Management.
• Understanding and helping BBH clients with sophisticated financial situations in collaboration with relationship management teams.
• Ensuring that all aspects of trust administration are completed accurately, on a timely basis, and in accordance with fiduciary standards and BBH policies and procedures.
• Partnering with internal teams such as legal, tax, risk, and operations, along with external advisors including attorneys and CPAs to ensure proper handling, compliance, and reporting.
• Working with the internal tax team to ensure that all information needed for the preparation of fiduciary income tax returns is available, and reviewing fiduciary income tax returns prepared externally.
• Preparing discretionary action memoranda, for presentation to an internal trust committee, for distributions, investments, and other discretionary actions of BBH in its capacity as trustee.
• Participating in client meetings and prospect meetings with Relationship Managers and Wealth Planners to explain the role of BBH as trustee in general and the active role of a Trust Officer for an existing or prospective relationship.
• Communicating complex trust, estate, and private asset concepts in a clear and practical manner to clients, co-fiduciaries, and beneficiaries.
• Providing guidance, oversight and supervision to a Trust Administrator supporting the book of trust accounts.
• Acting as an internal resource for colleagues, including the coordination of and participation in office training and the communication of best practices related to trust administration.
• Reviewing document drafts (trusts, wills, releases, trustee succession instruments, modification instruments, accountings, promissory notes, etc.) prepared internally or by external counsel prior to execution.

Qualifications

• 5 to 10 years of relevant experience in trust administration.
• Bachelor’s degree required.
• CTFA or CFP preferred; advanced degree/designation, such as JD or MBA, considered but not required.
• Strong experience in dealing directly with high net worth clients and their advisors.
• Strong analytical skills and strong communication skills.
• Detailed understanding of trust and estate law, personal and trust taxation, estate planning, and other financial services.
• Strong working knowledge of the interpretation and practical application of trust and estate document provisions, trust and estate law, taxes, investments, and the legal framework of trust administration.
• Experience with customer relationship management software, SunGard/FIS or other trust accounting systems.
• Experience with Microsoft Office products, particularly Excel and Word.