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DBS Bank

AVP, Trust Manager, Private Banking, Consumer Banking Group

DBS Bank
BankingSingapore - CentralOnsitePosted 4 weeks ago
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About the role

AI summarised

As a Trust Manager with Asia's best bank, you will be administering and managing a portfolio of about 60 bespoke private trust structures. You will partner with Private Trust Operations to ensure the high-quality delivery of trust administration services while working closely with Relationship Managers in DBS Private Bank and Treasures Private Clients.

BankingOnsite

Key Responsibilities

  • Review and ensure new trust application documents meet all onboarding requirements before establishment of private trust structures or private investment companies.
  • Review trust deeds, legal, and tax opinions to understand administration requirements for complex/customized private trust structures.
  • Ensure private trust structures are properly administered in compliance with all governing documents and requirements.
  • Review asset injections to verify the source of funds satisfies AML/CFT due diligence requirements.
  • Attend to beneficiary distribution requests, ensuring proper discharge of fiduciary duty and satisfaction of all AML/CFT due diligence.
  • Manage client requests for variations to letters of wishes and prepare revised documents.
  • Handle client requests for changes in beneficiaries by preparing supplemental deeds.
  • Conduct periodic reviews of trust records and structures to ensure accuracy, upkeep, and satisfaction of ongoing AML/CFT monitoring due diligence.
  • Review annual financial statements for private trusts and investment companies to ensure accuracy.
  • Meet with clients to conduct trust reviews and identify necessary actions based on changing client needs.

Requirements

  • Proven experience in trust administration and management.
  • Ability to review complex legal and tax documentation related to trusts.
  • Strong understanding of AML/CFT due diligence requirements for trust structures.
  • Ability to manage a portfolio of bespoke private trust structures.
  • Excellent attention to detail in reviewing financial statements and legal documents.
  • Strong advisory skills to liaise with internal teams and external professionals (lawyers, accountants, tax agents).