Operations Associate - Dividend & Reorganization - Falls

Summary / Function

The Dividend and Reorganization Associate identifies newly announced mandatory and voluntary corporate events that may influence the position of current client stock records, notifies the appropriate Financial Advisors (FAs), tracks responses and processes the stock and/or funds according to the individual elections received for each reorg event. The associate also ensures accurate payment activity is maintained within each customer account by accurately posting, reviewing and validating entries for multiple payment and security types;

balances various reconciliation reports, responds to branch inquiries and resolves departmental processing issues.

• High School diploma or equivalent.
• Ability to effectively operate a computer.
• Strong computer skills related specifically to Microsoft Outlook, Word and Excel.
• Strong organizational skills and attention to detail.
• Familiar with department policies and procedures.
• Strong communication skills, verbal and written.
• Strong customer service skills.
• Ability to troubleshoot and resolve problems independently.
• Strong math and general accounting skills a plus.
• Follow policies and procedures.
• Maintain client confidentiality.
• Communicate in a clear and service oriented manner. Use appropriate, professional language and grammar to effectively exchange ideas and information.
• Ability to proactively work with both external and internal clients. Relate with others in a professional manner in order to accomplish work responsibilities and objectives.
• Ability to maintain regular, predictable attendance.

• Compute, validate, and post payments to client accounts.
• Review stock records and reports to determine customer’s stock ownership on record date.
• Validate and process security payments on payable date to holders of record.
• Verify total shares owned by customers and compute dividends due.
• Review customer accounts to validate security payments are processed according to instructions.
• Resolve dividend related problems with customer accounts.
• Research and respond to inquiries received from branch personnel.
• Process bond calls.
• Code accounts related to ACH or dividend check instructions.
• Reconcile the daily DTC settlement report.
• Verify the accuracy of record date reports.
• Reconcile the Bank of New York settlement report.
• Adjust record date positions to ensure the holder lists are accurate on payable date.
• Review Beta CLED accounts to reconcile daily payments.
• Maintain Dividend Reinvestment processes for UITs and equities.
• Establish and maintain ACH/DIV Check payment instructions for clients.
• Complete any other responsibilities assigned by department supervisor or management.
• Identify newly announced mandatory and voluntary corporate events that may have an effect on current client stock records and process according to the individual elections received for each reorg event.
• Process cash and stock entries to client accounts according to the terms of each reorg event.
• Reconcile the daily DTC settlement.
• Create notifications for FAs to access, review and make elections through Beta Link for their clients that have positions in securities related to newly announced Corporate Actions.
• Create notices that outline the terms and conditions of each individual reorg event.
• Update initial notices as new information is released.
• Track and record elections made by the FA’s through Beta Link.
• Process according to the individual stockholder elections.
• Fulfill regulatory requirement for identifying lost or stolen securities.
• Identity incoming securities that have a value greater than $10,000.
• Run inquiries through the Lost and Stolen Securities Program to identify if the securities have been reported lost or stolen.
• Take necessary action related to findings.
• Process monthly UIT Terminations.
• Identify UIT securities that are due to mature during the current month.
• Create and transmit electronic notifications to FAs, outlining the options and timeline.
• Reconcile payments versus DTC cash settlement.
• Pay termination proceeds into client accounts.
• Research and resolve inquiries from branch personnel in an accurate and timely manner.
• Perform any other duties as assigned.

• Medical, Dental and…