Closing Case officer

RESPONSIBILITIES

Description of the Business Line or Department

The purpose of the Fiduciary department is to deliver a high-quality trust and company administration service to the underlying client base in the most cost effective and commercial manner for the ultimate shareholder.

The business line has SG Trust Asia, SGKH Trust CI Limited and SGKH Trust London within its scope.

Summary of the key purposes of the role

The closing case units’ purpose is to support the business unit and complete the day-to-day activities involved in the closing of client structures once a formal request for action has been received.

The closing case unit are responsible for all activities, BAU and closing related, where the client has given us clear instructions to transfer the assets to another service provider or wind up and distribute the assets and or where we as a business have given notice to the client to exit and transfer their assets to another service provider.

To support and work with the KH Group Trust Contentious and Closing Cases Manager to manage all relevant internal and external stakeholders involved with the closing structures.

To provide Management information to the Executive Trust Committees and the Board when required.

To develop understanding of the JFSC/ GFSC regulations and AML/ KYC legislation (Plus any others that are relevant) and how they impact the day-to-day activities.

To maintain all policies, procedures related to the closing case activity and ensure Source is refreshed to reflect all updates.

Summary of responsibilities

• Dissolution of company / termination of trust by way of distribution of assets
• Agree plan for transfer out
• Review of due diligence / tax info to ensure that closure can be progressed
• Ensure all tax authorities / registrars records are updated/informed as required by regulation
• Raising initial “termination” fee, and moving fee profile to TS only
• Appointment of liquidators / lawyers to draft termination documents
• Liaison with beneficiaries / person to whom the assets are to be transferred
• Take final fee
• Transfer remaining assets
• Ensure accuracy and integrity of NavOne data throughout the closing process
• Ensure all Fee supervision processes are respected
• Ensure all CDD/KYC processes are followed in respect of all transactions
• Complete the internal checklists
• Ensure Archive and Safe custody processes are followed
• Transfer out of administration to another service provider
• Agree plan for transfer out
• Review of due diligence / tax info to ensure that we can progress to closure
• Ensure all tax authorities / registrars records are updated/informed as required by regulation
• Raising initial “termination” fee and moving fee profile to TS only.
• Review of new provider to ensure they are fit and proper as per our requirement under the Codes
• Appointment of lawyers to draft transfer documents
• Accounts Preparation
• Liaison with new provider and confirm re-registration requirements for assets
• Take final fee
• Transfer remaining assets
• Liaise with Infosec regarding transfer of files / documents to new service provider
• Ensure accuracy and integrity of NavOne data throughout the closing process
• Ensure all Fee supervision processes are respected
• Ensure all CDD/KYC processes are followed in respect of all transactions
• Complete the internal checklists
• Ensure Archive and Safe custody processes are followed
• Wind up of dry structures
• Contact former client to discuss funding and provision of any CDD required to progress liquidation
• Identify most cost-effective termination
• Move to TS only on fee profile
• Liaise with Reg Agent to strike off (company) or draft minute for termination (internally – trust)
• Confirm final termination
• Ensure accuracy and integrity of NavOne data throughout the closing process
• Ensure all Fee supervision processes are respected
• Ensure all CDD/KYC processes are followed in respect of all transactions
• Complete the internal checklists
• Ensure Archive and Safe custody processes are followed
• Dissolution of company / termination of a trust within a continuing relationship / structure.
• Most of the work should be done within the BAU unit, as continuing communication with client to
• ensure all CDD and filing requirements can be met.
• “Closing” unit to advise on plan for and method of dissolution
• Ensure accuracy and integrity of NavOne data throughout the closing process
• Ensure all Fee supervision processes are respected
• Ensure all CDD/KYC processes are followed in respect of all transactions
• Complete the internal checklists
• Ensure Archive and Safe custody processes are followed

PROFILE REQUIRED

Competencies

• Operate within the parameters of the competencies as defined in the SG Leadership Model
• Professionalism and Enterprise
• Team Spirit and collaboration
• Innovation with focus
• Knowledge of legal, regulatory and industry requirements in each jurisdiction
• Knowledge of business processes, standards, policies and procedures
• Change Management
• Strategic & Commercial awareness
• Communication – written and oral
• Decision making
• Planning and organisation
• Reliability