AVP, Trust Manager, Private Banking, Consumer Banking Group

Key Responsibilities

• Review and ensure that the new trust application documents are in order and meet all on-boarding requirements, prior to our acceptance and establishment of new private trust structures and private investment companies.
• Review trust deed, legal and tax opinions to understand the requirements for the proper administration of the complex / customised private trust structures and ensure that the private trust structures are properly administered in compliance with these requirements.
• Review asset injections and ensure that the source of funds have been properly verified and satisfy the AML/CFT due diligence requirements.
• Attend to requests for distribution to beneficiaries and ensure proper discharge of our fiduciary duty as a trustee in exercise of discretion to make a distribution and all AML/CFT due diligence requirements are satisfied.
• Attend to clients' requests for variations to letter of wishes and preparing the revised letter of wishes.
• Attend to clients' requests for change of beneficiaries and preparing the supplemental deeds.
• Periodic review of trust records to ensure that they are accurate and up-to-date.
• Periodic review of trust structures to ensure that all AML/CFT ongoing monitoring due diligence requirements are satisfied.
• Review of annual financial statements for the private trusts and private investment companies prepared by Private Trust Operations to ensure that they are accurate and in order.
• Meet clients to conduct trust reviews and to identify if any action needs to be taken to address any change in clients' needs.
• Attend to any ad-hoc transaction request from clients in relation to their private trust structures and assets, assess and identify solutions and issues, liaise with professionals (lawyers, accountants, tax agents, etc) to obtain the necessary advice and legal documentation, review contractual documents and financial statements/accounts, follow-up with clients and relationship managers to explain and implement the necessary actions to be taken, and to bring the transaction to satisfactory completion.
• Assess and ensure proper discharge of the trustee's fiduciary duty in the management and administration of the private trust structures.