Trust administration has been an important sector of the Bermuda’s economy for many years. Until the introduction of the Trust Companies Act 1991 it was an activity carried out by the banks (HSBC Bermuda and Butterfield have significant trust administration divisions). Since then many law, accountancy firms and others have taken advantage of the legislation and entered the market.
There are plenty of jobs in trust administration in Bermuda. Some of the most common vacancies are:
- Trust Officers – Responsible for the management and administration of a portfolio of trusts. Requirements include a professional qualification (STEP, ACIB etc.) and a few years relevant work experience.
- Trust Accountants – Duties include preparation of financial statements for trusts and reconciliation of accounts. Typical requirements include a recognised accounting qualification, plus a working knowledge of accounts preparation.