At Citi, we get to connect millions of people across hundreds of cities and countries every day. And we've been doing it for more than 200 years. We do this through our unparalleled global network. We provide a broad range of financial services and products to our clients - whether they be consumers, corporations, governments or institutions - to help them meet their biggest opportunities and face the world's toughest challenges.
Citi Global Wealth (CGW) brings together the full power of Citi to serve the entire continuum of wealth clients, from affluent to ultra-high net worth to family offices.
Citi Private Bank (CPB) is dedicated to serving the world's wealthiest individuals and their families. From 52 locations across 20 countries, we offer our services to more than 14,000 ultra-high net worth clients from nearly 100 nations. Our clients include entrepreneurs, business leaders, executives, their heirs and families, whom we offer customized services to help protect and responsibly grow their wealth. Our unique approach focuses on fewer, larger and more sophisticated clients with an average net worth above $100 million.
We're currently looking for a high caliber professional to join our team as Analyst, Assistant Trust Officer based in Singapore. Being part of our team means that we'll provide you with the resources to meet your unique needs, empower you to make healthy decision and manage your financial well-being to help plan for your future. For instance:
We empower our employees to manage their financial well-being and help them plan for the future.
Citi provides access to an array of learning and development resources to help broaden and deepen your skills and knowledge as your career progresses
The Assistant Trust Officer is a developing professional role. Deals with most problems independently and has some latitude to solve complex problems. Integrates in-depth specialty area knowledge with a solid understanding of industry standards and practices. Good understanding of how the team and area integrate with others in accomplishing the objectives of the subfunction/ job family. Applies analytical thinking and knowledge of data analysis tools and methodologies. Requires attention to detail when making judgments and recommendations based on the analysis of factual information. Typically deals with variable issues with potentially broader business impact. Applies professional judgment when interpreting data and results. Breaks down information in a systematic and communicable manner. Developed communication and diplomacy skills are required in order to exchange potentially complex/sensitive information. Moderate but direct impact through close contact with the businesses' core activities. Quality and timeliness of service provided will affect the effectiveness of own team and other closely related teams.
In this role, you're expected to:
Under supervision of a Fiduciary Services Head, this position requires administration of UNHW ongoing fiduciary relationships which entails working with clients to strategize toward the preservation and continued growth of trust assets while achieving their specific trust and estate planning objectives and introduces clients to a broad range of investment management opportunities.
Manage an existing book of trust and estate accounts: types of accounts include revocable and irrevocable trusts, testamentary trusts, ILITS and IRA accounts, various types of charitable trusts, estate accounts, and agency accounts, both discretionary and directed; initiate investment management of the accounts by coordinating with Private Bankers and Investment Counselors and utilizing both internal and external investment managers including equities, fixed income, mutual funds, ETFs, private equities, hedge funds and real estate vehicles to ensure the appropriateness of the account allocation based on the investment objective and risk tolerance of the account; knowledge and understanding of special assets such as promissory notes, operating agreements, LLC's, LP's, loan holds, life insurance policies, real estate interests and oil and gas interests; working with both internal and external tax preparers to complete and file tax returns for the various types of accounts, including Forms 1041, 5227, 990PF, 1042S, and 1099; review of a discretionary distribution request which includes collection of financial and tax documentation from the client together with the interpretation of the terms of the trust document to determine the appropriateness of the request; review and update information for each account for the annual administrative review which includes 13 major categories.
Assess the client's overall estate and tax planning needs: including the knowledge and skill to review legal and trust documentation and have an understanding of the provisions in order to effectively assist the client and their advisors in achieving specific trust and estate objectives.
Compliance with legal requirements and internal procedures in relation to account activity: including identification and reporting to our Senior Risk Committee and management of the risk of financial loss and/or damage to Citi's reputation arising from the activities within the Citi Trust businesses; Communicating with internal and external auditors as well as state examiners; working with Investment Management Oversight on the identification of and diversification of a discretionary portfolio's exposure to a single security, issuer or industry.
Communication: Communicate effectively with the client and/or the client's attorney on all trust and estate matters and attending in person client meetings and investment reviews; interact with and establish a working relationship with the Private Banking and Investment team in regard to the trust and overall client relationship including timely and accurate responses to inquiries.
Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency.
As a successful candidate, you'd ideally have the following skills and exposure:
2-5 years relevant experience
Experience in estate or trust management and administration. Strong knowledge and proven technical proficiency in legal, investment and tax issues relative to trust and/or estate management and administration. Proven strong communication
CFTA preferred. Experience with Fiduciary Income Tax.
Bachelor's/University degree or equivalent experience
Working at Citi is far more than just a job. A career with us means joining a family of more than 230,000 dedicated people from around the globe. At Citi, you'll have the opportunity to grow your career, give back to your community and make a real impact. -------------------------------------------------
Job Family Group: Private Client Product Services -------------------------------------------------
Time Type: Full time ------------------------------------------------------
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