Head of Trust

This is a hybrid role that requires 4 days/week in our New York City office

About Lorum

The 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 Lorum

Lorum 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 role

Lorum 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 responsibilities

• Lead the Bank's trust and fiduciary program: acceptance and administration of fiduciary accounts, prudent‑investor oversight, and periodic account review
• Own the control framework for custody and safekeeping of client assets, both digital and traditional, including key management and segregation between fiduciary and non‑fiduciary custody
• Represent the Bank's fiduciary function to the OCC: licensing, examinations, information requests, and remediation
• Build and maintain the fiduciary policy suite, risk assessment framework, and conflicts‑of‑interest and self‑dealing controls, consistent with 12 CFR Part 9
• Advise product, operations, and business teams on fiduciary and custody implications before launch; run account monitoring and issue remediation
• Report to the Board and senior management on fiduciary activity, risk, and exceptions
• Define the target operating model for the trust function and build the team as the Bank scales

Success in the first 3 to 12 months

• First 3 months: the trust and fiduciary function is stood up and operating as a real entity within the Bank
• 6 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 scales

Ideal Candidate

We'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 Haves

• 12+ years across trust, fiduciary, custody, legal, risk, or regulatory roles in US banking, trust banking, or custody/wealth‑management services
• A 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 it
• Authoritative command of OCC supervisory expectations, 12 CFR Part 9, and fiduciary law, including the prudent‑investor standard, custody and safekeeping, and conflicts of interest
• A record of designing or materially strengthening a trust or fiduciary function: policies, controls, risk assessments, account review, remediation
• Experience preparing fiduciary reporting for senior management and the Board
• Comfortable operating in a matrix, balancing Bank‑level accountability with Group alignment
• High agency, low ego: ready to build in ambiguity, and to challenge the business when fiduciary duty is at stake

Nice to haves

• Experience with a de novo bank, national trust bank, state trust company, or custody bank
• Involvement in a bank charter application, licensing process, or pre‑opening readiness program
• Direct engagement with the OCC or another federal banking regulator
• Familiarity with digital‑asset custody, key management, or tokenized‑asset and stablecoin operations (this reflects where we may go, not where we are today)
• Experience within a three‑lines‑of‑defence governance model
• A relevant professional qualification (CTFA, CFTA, or a legal qualification)

Benefits

• Flexible vacation policy
• Private Healthcare
• Employee stock ownership (ESOP)
• Flexible working and autonomy
• Pay it forward days - we offer 2 annual pay it forward days where you can take time to volunteer for a charitable cause that is important to you.
• Wellness days - we believe you can only work your best when you feel your best, and we know working at Lorum is intense, so we offer 3 wellness days every quarter where you can take time to re‑energize