Role overview
To manage one of our private client administration teams, undertaking a primary client relationship role with a number of complex/significant clients as well as managing and providing technical support and guidance to a team of administrators. The post holder will work closely with and provide support and absence cover to the Senior Trust Manager.
The role will also assist with business development, particularly in developing services provided to existing clients and maintaining and developing good working relationships with intermediary providers. This will require the post holder to support new fiduciary products that respond to client needs within Praxis’ target market.
As part of the Fiduciary management team the postholder will strive to improve profitability whilst limiting both Praxis’ and clients’ exposure to risk, and always providing a quality service to clients. There will also be involvement in ad hoc team and business projects as required.
To manage one of our private client administration teams, undertaking a primary client relationship role with a number of complex/significant clients as well as managing and providing technical support and guidance to a team of administrators. The post holder will work closely with and provide support and absence cover to the Senior Trust Manager.
The role will also assist with business development, particularly in developing services provided to existing clients and maintaining and developing good working relationships with intermediary providers. This will require the post holder to support new fiduciary products that respond to client needs within Praxis’ target market.
As part of the Fiduciary management team the postholder will strive to improve profitability whilst limiting both Praxis’ and clients’ exposure to risk, and always providing a quality service to clients. There will also be involvement in ad hoc team and business projects as required.
Job accountabilities
Client relationship management
- Have a detailed understanding of the principles and practices of offshore trusts, companies, and related structures
- Have the experience of dealing with multi-layered structures
- Demonstrated ability to manage and maintain client relationships in accordance with KPIs and Praxis standards
- Demonstrated ability to take responsibility for all work, and all work delegated to administration team, including the prioritisation of workload and ability to meet deadlines at all times
- Liaise with other departments regarding accounting and taxation issues and with Operations Departmental Manager regarding operational issues
- Have a broad understanding of tax issues and jurisdictions as they relate to client circumstances
- Anticipate technical problems when dealing with client issues, and, where necessary, seek expert advice
- Assist the junior members of the team with complex aspects of client relationship management, making decisions as appropriate including referring matters to Senior Management
- Develop a professional relationship with intermediaries and service providers in the conduct of client business
- Assisting with the review of company and trust accounts and any other financial reports
- Maintain client confidentiality
- The post holder will be expected to undertake some business travel. The job will entail some work outside normal working hours
Business development
- Attend meetings with existing and prospective clients and intermediaries
- Develop the existing client base by understanding client needs through effective listening and questioning
- Seek out new business opportunities by developing rapport and professional relationships with intermediaries, advisors, and service providers
- Seek ways to increase the client base and revenue in accordance with best practice and regulatory compliance
- Keep up to date with changes in the market that have the potential to impact on offshore structures
Risk management
- Understand the legal and regulatory legislations in Jersey and any other legislation that impacts on the conduct of fiduciary business within the jurisdiction
- Report complaints, operational risks, suspicions etc in accordance with local legislation and the Praxis procedures
- Ensure that risk issues are reported to the Directors and Compliance as appropriate
- Understand, apply, and adhere to Praxis' risk management policies and procedures and, where appropriate, be proactive in identifying and proposing improvements
- Assess and manage risk situations to avert potential risk issues for both clients and Praxis and to ensure that the assets of both are protected
- Ensure that client complaints are dealt with in a timely manner and at the right level
Corporate governance
- Actively champion Praxis' values by promoting a culture of professionalism, teamwork, and leadership
- Understand Praxis’ vision and the direction in which the Group is heading
- Understand how the role of each individual contributes to Praxis’ vision
- Understand and acknowledge the need for change
Financial management
- Achieve pre-determined utilisation targets (set as part of the annual budget process and notified to the individual via the appraisal/objective setting process)
- Assist the Senior Trust Manager in managing the Key Performance Indicators for junior members of the team (set as part of the annual budget process and notified to the individual via the appraisal/objective setting process)
- Balance the client’s needs with the Group’s commercial expectations both in developing strategies for clients and in the day-to-day management of their affairs
- Support the Senior Trust Manager in achieving the Group’s financial benchmarks
- Support the Senior Trust Manager in regularly reviewing work in progress, deficits, aged debtors, and bad debt write offs to ensure staff are managing these aspects of their work effectively
People management
- Participate in the appraisals of staff within their area of responsibility
- Support the Senior Trust Manager with recruitment, performance management and development, reward and remuneration and engagement and motivation as required
- Promote a culture of continuous training, development, and progression
- Inspire others through own actions and behaviours
Personal development
- Attend seminars and workshops, read industry publications and advisory briefs, and follow developments in wealth management to enhance professional and technical knowledge
- Shape own development by identifying areas to improve own knowledge and skills and actively seek assistance
- Maintain evidence of continuing professional development to meet regulatory requirements
- From time to time to undertake specific additional tasks as advised
Skills and knowledge
Key areas are as follows (note that the Trust Manager is expected to demonstrate these skills or, in the minority, show potential to acquire them):
- Comprehensive knowledge of and a proven track record in offshore fiduciary services
- A proven track record in handling complex offshore fiduciary issues
- A proven track record in client relationship management
- Good interpersonal skills for dealing with staff, intermediaries, and clients
- Excellent time management and organisation skills
- Good understanding of financial markets and finances in general
- Exposure to marketing and business development initiatives coupled with a willingness to get involved in the development of new markets
- Excellent communication skills
- Sound judgement
- Good presentation skills (although training can be provided)
- Ability to coach and mentor junior colleagues
- Knowledge of compliance issues and the regulatory framework within which Praxis operates
- Strong leadership and interpersonal skills for dealing with staff, intermediaries, and clients
- The holder of this position should be educated to degree level, ideally in a business-related subject such as law or accountancy and be a member of a relevant professional body. The post holder should have a minimum of 10 years’ experience in fiduciary services, with at least three to five years management experience, and qualify as a category B person under JFSC guidelines
Five years’ Jersey residency is required for this role, in adherence with the Control of Housing and Work (Jersey) Law 2012.
