VP, Trust Control and Operations

Vice President, Trust Control & Operations

This position reports to the Managing Director, Trust (Bermuda). It is responsible for identifying and managing fiduciary risks related to the trust business, as well as ensuring operational soundness and efficiency, including overseeing the implementation of procedural improvements across the organisation. Additionally, the incumbent is responsible for maintaining legislative and regulatory compliance for both personal and corporate trust business and will oversee the business risk assessment and the corporate governance framework for the trust business in Bermuda.

Your responsibilities will include:

• Ensure risk review assessment is carried out for all existing clients and proposed new business, and that any issues arising from the risk reviews are resolved within the specified deadlines and in accordance with Group standards
• Ensure the business's compliance with internal and Group policies, as well as external requirements, including Bermuda regulations, Bermuda’s Common Reporting Standards, and FATCA legislation
• Ensure Alessa alert clearance is conducted efficiently and in line with Group standards
• Carry out unscheduled or ad hoc policy/procedure, risk and compliance reviews of accounts to verify compliance and any potential risks are identified, understood and mitigated
• Coordinate investigations of possible violations and report on these to departmental management, including relationship managers and the Managing Director
• Provide regular reports to the Risk and Operational Review (ROR) Committee, to Group Compliance, and to the Managing Director
• Oversee related policies and procedures and ensure they remain relevant and up to date
• Optimise efficiency, suggest restructuring and change where appropriate
• Work with the Group’s Risk and Control team to ensure that business practices comply with the Group’s Compliance framework
• Exercise reliable judgment and ensure that day-to-day operations are carried out using appropriate risk management disciplines
• Coordinate all regulatory and internal audit reviews
• Issue Fraud alerts and other industry-specific updates
• Ensure cohesive, efficient interaction between Risk Review and relationship management (Front Office) to ensure all potential risks are managed prudently
• Act as a liaison between Group Compliance, Bermuda Trust’s risk review function, and Relationship Management regarding trust administration for all new business to ensure that relationships are accepted and accounts are opened as smoothly as possible.
• Responsible for the management and development of staff to achieve high levels of morale and motivation, lead staff to deliver their best possible performances, coach and mentor staff
• Carry out ad hoc work as agreed with the Managing Director

Your qualifications and skills include:

• University Degree or eight to ten years’ experience in Trust administration or equivalent 
• STEP designation is required; an appropriate designation or certification such as LLB / ACIB / ACIS / ICSA/CAMS would be an asset
• Clearly demonstrated track record of working with senior executives to execute complex projects and initiatives
• Extensive knowledge of compliance laws, regulations and guidelines in Bermuda and across the Group as a whole
• Ability to implement adequate resources, controls and testing
• Superior understanding of documentation and the requirements of Trust Administration, Risk, Company Administration, Accounting Principles, Banking Practices
• Superior knowledge of multi-jurisdictional fiduciary services and structures
• Superior interpersonal, negotiation and selling skills with a proven ability to lead employees
• Proficient knowledge and understanding of global legislative changes that impact our business
• Proficient in Microsoft Office products (Word, Excel, etc.)