Trust Officer - part-time

Trust Officer - Part-Time Position

OliBank, Puerto Rico

OliBank, a leading international banking institution based in Puerto Rico, seeks a qualified Trust Officer to join on a part-time basis. This role requires the successful candidate to be located in Puerto Rico and combines sophisticated international trust administration with deep knowledge of Puerto Rico's unique regulatory and tax environment.

Main Responsibilities

Trust Administration and Management

The Trust Officer will administer and manage trust accounts in accordance with trust agreements, fiduciary standards, and applicable laws. This includes overseeing trust assets such as securities, real estate, investment portfolios, and international holdings while ensuring proper segregation and custody of trust property. The role requires maintaining meticulous trust accounting records, preparing periodic financial statements, and coordinating trust distributions according to trust terms and beneficiary needs.

Regulatory Compliance and Risk Management

Ensure comprehensive compliance with both federal and Puerto Rico regulatory requirements, including OCIF (Office of the Commissioner of Financial Institutions) regulations, the Puerto Rico Trust Act (Act 219-2012), and applicable provisions of the Puerto Rico Civil Code.

Investment Oversight and Fiduciary Management

Apply the prudent investor standard in managing trust investments, conducting regular portfolio reviews, and ensuring appropriate diversification strategies. The Trust Officer will evaluate investment performance against trust objectives, coordinate with investment managers and advisors, and make strategic investment decisions within the scope of fiduciary guidelines.

International Trust Services

Manage cross-border trust structures involving multiple jurisdictions, understanding the interplay between Puerto Rico trust law and international trust arrangements. The Trust Officer will coordinate with International Financial Entities (IFEs) and International Banking Entities (IBEs) to optimize trust structures for tax efficiency and asset protection. This requires knowledge of offshore trust jurisdictions, international tax treaties, and Common Reporting Standard (CRS) exemptions applicable to Puerto Rico entities.

Experience

Required Experience

Minimum of 3-5 years of progressive experience in trust administration, wealth management, private banking, or related fiduciary services. Demonstrated experience in managing complex trust accounts, including investment oversight, beneficiary relations, and compliance management.

Preferred Experience

Experience in international banking environments, particularly with cross-border trust structures and multi-jurisdictional compliance requirements. Knowledge of Puerto Rico's banking sector, including familiarity with OCIF regulations and local trust practices. Background in estate planning law, tax advisory services, or professional experience with Puerto Rico's Civil Code and forced heirship provisions.

Industry Knowledge

Understanding of fiduciary principles and best practices in trust administration, including the prudent investor rule and trust accounting standards. Familiarity with anti-money laundering procedures, FATCA compliance, and international regulatory frameworks. Knowledge of investment management principles, portfolio theory, and alternative investment strategies suitable for trust accounts.

Education

Minimum Educational Requirements

Bachelor's degree from an accredited institution in Finance, Business Administration, Accounting, Economics, Law, or related field. Candidates with equivalent professional experience and relevant certifications may be considered.

Professional Certifications

Strongly Preferred: Certified Trust and Fiduciary Advisor (CTFA) certification from the American Bankers Association, demonstrating specialized knowledge in fiduciary activities, financial planning, tax law, and investment management.

Additional Valued Certifications:

Certified Financial Planner (CFP) for comprehensive financial planning expertise

Certified Private Wealth Advisor (CPWA) for high-net-worth client specialization

Accredited Estate Planner (AEP) for advanced estate planning knowledge

Certified Public Accountant (CPA) for tax and accounting expertise

Juris Doctor (JD) with knowledge of Puerto Rico law

Continuing Education Commitment

Willingness to pursue ongoing professional development through industry conferences, regulatory training, and certification maintenance programs. Commitment to staying current with evolving Puerto Rico tax laws, regulatory changes, and international trust developments. For CTFA holders, maintenance of 45 continuing education credits every three years is required.

Language Requirements

Essential Language Skills

Full professional proficiency in both Spanish and English is mandatory for this position. The Trust Officer must be able to conduct complex business discussions, prepare detailed reports, and explain sophisticated financial concepts fluently in both languages. This includes the ability to review and interpret legal documents, trust agreements, and regulatory materials in both Spanish and English.

Communication Competencies

Excellent written communication skills for preparing trust documentation, client correspondence, and regulatory reports in both languages. Strong verbal communication abilities for client presentations, beneficiary meetings, and collaboration with professional advisors. Cultural sensitivity and ability to work effectively with Puerto Rico's local client base while serving international clients from diverse backgrounds.

Additional Requirements

Location and Availability

This position requires the candidate to be physically located in Puerto Rico and maintain residence on the island. The part-time schedule offers flexibility while requiring availability during critical client meetings, trust administration deadlines, and regulatory reporting periods.

Personal Attributes

High ethical standards and commitment to fiduciary excellence. Strong attention to detail and organizational skills for managing multiple trust accounts simultaneously. Ability to handle confidential information with utmost discretion. Problem-solving capabilities for addressing complex trust and estate matters.

Compensation and Benefits

Competitive compensation commensurate with experience and qualifications, structured appropriately for part-time engagement. Access to professional development opportunities and continuing education support. Opportunity to work with sophisticated international clients in a dynamic offshore banking environment. Flexible scheduling arrangements suitable for experienced professionals seeking part-time opportunities.