Head of Custodian Trustee Service – Jersey Job – Offshore Banking

About Jersey

Jersey is the largest of the Channel Islands with a population of approximate population of 95,000 people.

Jersey does not belong to the European Union but it is part of the British Isles. Jersey has its own government, judiciary and fiscal regulations.

It is in the GMT time zone and the official currency is Sterling.

As an offshore jurisdiction the financial service sector accounts for nearly half of the Island's economy with the core jobs being in the accounting, banking, insurance, trust and fund sectors.

All nationals of an EU Member State can work in Jersey’s offshore finance centre without need of a work permit however people need be aware of local regulations that make it difficult for companies to employ professionals who have not been resident on the Island for five or more years.

Core growth areas include:

Fund Management
Captive Insurance
Insurance
Offshore Trust Formation
Private Banking

Jersey is actively involved in assuring its current and future compliance with the global regulatory policy for offshore finance centres.

Job Specification

Leading international bank and provider of Corporate Fiduciary administration services is looking for a new manager for its Channel Islands Custodian Trustee Services team.

As Head of Custodian Trustee Service (to mainly Collective Investment Schemes) you will have a cross Channel island remit this role and so could be based in either Jersey or Guernsey. However with the majority of the team based in St Helier it is currently envisaged this is a Jersey job.

As the Head of Custodian Trustee Service you will lead the Custodian Trustee team, which is responsible for managing relationships with Fund Managers and Promoters, ensuring that funds meet all of the regulatory requirements.

It also has an oversight responsibility over the Fund Administrators and a direct reporting responsibility to both the GFSC and JFSC. As Custodian or Trustee for Funds your team is responsible for the safekeeping of the Fund assets and are directly responsible to ensure that investors in the Funds are fairly represented.

Additionally the incumbent will act as a member of the Senior Management Team within Corporate Fiduciary taking responsibility for the strategic direction of the business.

A key function is also to act as Managing Director of the banks Custodian department within both Jersey and Guernsey. As Director and Head of the area the Head of Custodian Trustee Service is directly responsible to the GFSC and JFSC in regard to any performance issues that they may have.

To succeed in this well paid offshore banking job you will need to lead two Custodian Trustee teams, ensuring that they are adequately resourced and equipped to provide a high quality service that meets all legal and regulatory requirements.

Duties you will be responsible for include:

To provide high level technical input to the teams
To liaise with the Fund Managers, Promoters and Regulators to achieve the fund’s objectives and protect its investors.
To act as Managing Director to the Custodian
To act as a member of the Senior Management Team in Corporate Fiduciary and contribute to the overall strategic development of the Division.

Some of the key accountabilities of the Head of Custodian Trustee Service position include:

To proactively build and maintain the relationship with the client, developing rapport and facilitating effective two-way communication channels between the team, the CRM and the client.
Monitor Fund Administrators to ensure regulatory compliance and quality of service delivery.
Manage the team to ensure that work is processed efficiently and completed in accordance with established deadlines
Train and develop the team to enable them to continually improve their performance and ability to meet business needs
Regularly review processes and procedures to identify improvements

To be considered for the Head of Custodian Trustee Service role you must have a thorough understanding of the Custodian Trustee business and in depth knowledge of the Guernsey/Jersey regime.

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