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The Senior Irrevocable Life Insurance Trust Administrator will be responsible for the daily administration of a book of Irrevocable Life Insurance Trusts (ILITs), ensuring compliance with regulatory requirements, trust document terms, and internal policies. This role involves direct communication with grantors, beneficiaries, insurance carriers, and professional advisors.

Key Responsibilities:

+ Administer a portfolio of ILIT accounts, including reviewing trust terms, monitoring insurance policies, and handling premium payments.

+ Coordinate the timely issuance and delivery of Crummey notices to beneficiaries.

+ Track and verify insurance policy performance, premiums, and coverage status.

+ Maintain accurate trust records, correspondence, and transaction histories in compliance with fiduciary and regulatory standards.

+ Communicate with insurance companies regarding policy updates, status checks, and policy service requests.

+ Partner with relationship managers, trust officers, and estate planning attorneys to provide holistic client service.

+ Identify and escalate trust risks, lapses, or policy management concerns to management.

+ Ensure compliance with internal controls, procedures, and applicable state and federal laws.

+ Participate in system upgrades, process improvements, and regulatory training as required.

Qualifications:

+ Bachelor’s degree in Business, Finance, Accounting, or a related field preferred.

+ 3+ years of experience in trust administration, life insurance administration, or estate planning support (experience with ILITs strongly preferred).

+ Strong understanding of ILIT structures, Crummey powers, fiduciary duties, and insurance policy mechanics.

+ Knowledge of regulatory guidelines such as OCC regulations, UPIA, and applicable state trust codes.

+ Proficiency in trust accounting systems and Microsoft Office Suite (Excel, Word, Outlook).

+ Strong organizational skills and attention to detail.

+ Excellent written and verbal communication skills.

+ Ability to prioritize, manage multiple tasks, and meet deadlines in a fast-paced environment.

+ Sense of humor, empathy, and team-first attitude.

+ Professional designations such as CTFA (Certified Trust and Fiduciary Advisor) or CFP (Certified Financial Planner) are a plus, but not required.

Salary:

$65,300.00 - $121,100.00

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected] and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.