AVP - Estate Planning - BFS

Job Location : Mumbai, Worli

5 Days week

Grade: AVP / VP - Subject to experience and HR review

Role Purpose:

- This role helps client execute their estate planning goals to achieve objectives around inter generational wealth transfer, asset preservation and consolidation (which are eventually executed by the third-party fiduciary service providers (such as Trusteeship companies) and/or Professional advisors (such as Law/Tax firms/ Family Office advisors/immigration advisors) except Will-planning that is executed in-house.

- To work with clients (being professionals, family businesses etc.) and their families to understand their background and objectives and devise solutions to help them achieve preservation and smooth transition of their Wealth as well liaison with external experts to help deliver client solutions. Further, the role supports in driving and tracking the wealth planning business.

Key Responsibilities:

- Support the achievement of wealth planning income as captured in the sales dashboard.

- To engage the frontline to enhance business pipeline.

- To pitch estate planning proposition to prospects/clients.

- Enhance WP proposition by supporting line manager: build existing Will proposition, immigration planning, create Trust proposition, and offshore structuring, philanthropy.

- Assist in facilitating strategies/structures to meet client objectives/estate planning goals.

- Extensive research to support client pitch for mandates, address client queries as well enhance proposition through research findings and keep team updated on regulatory updates/key judgements.

- Drafting of client documentation (i.e., Wills, PoA, Gift Deeds etc.) & regular updation of client collateral.

- Actively support line manager in managing & building a robust network of third-party service providers for offerings to clients.

- Enhance visibility for organization on different media platforms by collaborating/researching on relevant content for articles/webinars.

- Actively support line manager in delivering wealth planning solutions to clients.

- Actively participate and contribute to the Wealth Planning training session as well conduct independent Wealth Planning Training sessions on Wealth Planning proposition for the front line.

- Attend training programs/webinars for self and team development.

- Contribute towards creating awareness of wealth planning across the firm as well enhance the proposition in liaison with internal stakeholders Share knowledge and experience with other Relationship Managers in a manner that enables them to acquire prospects

Risk and Governance:

- Ensure the client engagement letter and invoices are raised appropriately

- Systematic e-filing of all client and panel related documentation

- Conduct due diligence on third-party service providers and maintain tracker

- Leverage CRM, Planner & other technology tools to enhance productivity and drive cross functional efficiencies.

- Conduct and maintain due diligence tracker of third-party service providers & any other external relationships.

- Update and maintain Wealth Planning tracker- to track WP initiatives, client/ prospect leads and conversions as well proposition deliverables

- Provide timely MI to the finance team on a monthly basis.

- Provide region-wise MI to Market Heads on monthly basis for monthly review as well

- Quarterly Reviews along with the CEO.

Education:

- Legal and tax background - LLB and CA, MBA with suitable certification in estate planning such as TEP from STEP/CTEP from AAFM.

- Trust & Estate Planner Certification - desirable

Experience:3-7 years of relevant experience

Technical Skills:

- Concepts of estate planning including succession laws, trust laws, transfer of property laws, general corporate law, cross-border laws - on inheritance/estate taxes. Should have handled transactions on estate planning such as trust structuring and trust administration with clients independently.

- Knowledge of governance around succession of family business.

- Experience around "family constitution" will be added advantage.

- Knowledge of various structures (e.g. charitable trust, section 8 co. etc.) available for philanthropic activities.

- Understanding of Income Tax provisions incidental to succession planning.

- Ability to manage and control defined process for various activities of Wealth Planning in coordination with Private Bankers, Finance team , Compliance team etc