Head of Trust

Return to jobs listHead of TrustJob type: Full Time · Department: Finance · Work type: On-Site · USD 240,000-260,000 / yearNew York, New York, United States Job detailsApplication formThis is a hybrid role that requires 4 days/week in our New York City officeAbout LorumThe structural conflict at the centre of correspondent banking is not technological. It is economic. Banks earn revenue from their balance sheets: they lend deposits, capture FX spreads, and hold funds as long as it is rational to do so. Clearing, the act of releasing funds quickly and predictably, competes directly with those economics. An institution designed to lend has a structural incentive to hold deposits; an institution designed to clear has an incentive to release them. When one institution does both, clearing loses. The result is unpredictable settlement, trapped capital, and a correspondent network shrinking by design.Why LorumLorum was founded on a different premise: clearing as the business, not a byproduct. The model has been operational since 2023 and grew 55x in 2025, with USD clearing now the majority of volumes alongside a growing treasury offering. We have applied for a U.S. national trust bank charter. The people we hire now will build the clearing and treasury infrastructure it unlocks.The roleLorum National Trust Bank is standing up a trust and fiduciary business, and we need the person to lead it as our most senior fiduciary officer. This is a founding hire: you'll build a trust function that meets OCC supervisory expectations from day one, and you'll be hands-on both designing it and running it in the early phase.Day-to-day responsibilitiesLead the Bank's trust and fiduciary program: acceptance and administration of fiduciary accounts, prudent-investor oversight, and periodic account reviewOwn the control framework for custody and safekeeping of client assets, both digital and traditional, including key management and segregation between fiduciary and non-fiduciary custodyRepresent the Bank's fiduciary function to the OCC: licensing, examinations, information requests, and remediationBuild and maintain the fiduciary policy suite, risk assessment framework, and conflicts-of-interest and self-dealing controls, consistent with 12 CFR Part 9Advise product, operations, and business teams on fiduciary and custody implications before launch; run account monitoring and issue remediationReport to the Board and senior management on fiduciary activity, risk, and exceptionsDefine the target operating model for the trust function and build the team as the Bank scalesSuccess in the first 3 to 12 monthsFirst 3 months: the trust and fiduciary function is stood up and operating as a real entity within the Bank6 to 12 months: day-to-day operations are compliant, well-controlled, and meeting OCC and Board expectations, with a clear view forming on the team this function needs as it scalesIdeal CandidateWe're looking for both the credentials and the mindset: deep fiduciary expertise, plus the flexibility to build something from scratch with no existing playbook.Must Haves12+ years across trust, fiduciary, custody, legal, risk, or regulatory roles in US banking, trust banking, or custody/wealth-management servicesA track record in a senior fiduciary seat (Chief Trust Officer, Head of Trust, Senior Fiduciary Officer, senior trust counsel, or equivalent), title matters less than the track record behind itAuthoritative command of OCC supervisory expectations, 12 CFR Part 9, and fiduciary law, including the prudent-investor standard, custody and safekeeping, and conflicts of interestA record of designing or materially strengthening a trust or fiduciary function: policies, controls, risk assessments, account review, remediationExperience preparing fiduciary reporting for senior management and the BoardComfortable operating in a matrix, balancing Bank-level accountability with Group alignmentHigh agency, low ego: ready to build in ambiguity, and to challenge the...