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Key Responsibilities:
Relationship Management
- Clients: High-quality service delivery to strengthen client relationships through strong understanding of each client relationship's family dynamics and needs, being mindful of growth opportunities with the clients, through the trust administration work and to have meetings/calls/visitations with each client at least once annually
- Intermediaries: Maintain and further intermediary relationships such as with lawyers, private bankers, tax advisors, and other professionals who form part of the Wealth Planning ecosystem
- TMF Colleagues: Collaborate with internal colleagues such as with other global and local service lines such as Global Entity Management, Accounting & Tax and Funds for administration of private wealth and non-private wealth trust structures including but not limited to orphan structures, Private Trust Companies structures, Employee Share Option Schemes trusts, and other Capital Markets structures.
- TMF Global Sales Team: Provide subject matter expertise, support and guidance to sales team colleagues locally and globally to facilitate deals landing with PWFO team. From time to time, attendance at meetings and calls to provide scope of work and fee quotes is required.
- TMF Private Wealth and Family Offices Group: Our key strength as a group lies with our collective knowledge and solutions for the clients. As such, periodic catch-ups and evening calls is necessary to ensure that we continue to operate with alignment with the rest of the group, and to be able to learn from each other to develop our strategy as a local office and to be able to promote each other within the Group
Trust Administration
- Establish new trusts including the setting up of trust underlying companies, open bank accounts, receive trust assets, as required
- Ensure timely and accurate completion of periodic trust review of trust structures within designated portfolio, including of due diligence documents and trust-related documentations such as trust deeds, letter of wishes and other related documents
- Work with Compliance as second line of defense to ensure that KYC and due diligence requirements are in good order depending on the nature of the transactions, changes to the trust structures and/or client circumstances
- Monitor transactions of trust structures within designated portfolio to be aware of incoming and outgoing funds to be consistent with the risk profile and purpose of the trust
- Carry out administration work such as corporate secretarial work of the trust underlying companies as necessary, alongside other TMF Global Entity Management colleagues globally
- Set-up and maintain information on in-house database including D365 and ViewPoint
Ongoing Risk Management
- Initiate, lead and undertake internal projects together with the Resident Managers to actively assess and manage the risk of the book
- Assess, initiate, propose and enhance policies, procedures, practices and corresponding templates and checklists wherever necessary
- Actively lead monitoring of team deliverables such as periodic trust reviews, financial statements, service delivery etc.
- Actively engage with Compliance on projects and deliverables that are required from time to time including but not limited to internal audit, refreshing Group and local templates, forms, policies and procedures
Managerial Responsibilities
- Regulatory Compliance: Lead and support Resident Managers with regulatory compliance deadlines, such as submissions required with MAS and IRAS and any regulatory compliance required of assets under administration
- TMF internal alignment and deliverables: Partner with colleagues such as with the Internal Finance and Billing Team to ensure that there is accuracy in internal report of deliverables such as with billing, credit collection, incoming revenue and value adding through feedback for enhancement of internal workflows
- A signer and Management Approval: Ensure that checklists are strictly adhered to with a very high level of attention of detail with no breaches and errors
- New and Continuing Businesses: Support Market Head in growing new opportunities through the ability to introduce TMF and PWFO fluently, represent the trust team and its strengths to prospects and existing clients, and the ability to ascertain and provide fee quotes independently with strong alignment with the team
Key Requirements:
- Relevant degree in business, accounting, law or finance
- At least 10 years of experience in Singapore licensed trust companies with some experience as a team leader, having worked in both bank backed and independent Singapore trust companies would be ideal
- STEP TEP designation required, with additional STEP or WMI certifications or qualifications being advantageous
- Written and spoken proficiency in Mandarin required, with spoken dialects being advantageous
- Strong and open communicator who is also tactful, optimistic, collaborative and positive attitude, ability to appreciate different points of view and differing opinions, and high adaptability to TMF as a huge platform and its corresponding demands
- FATCA/CRS knowledge and filings would be an advantage
