Trust Operations Associate II - Securities Specialist

Description

Classification: Full-Time, Hourly Non-Exempt

Hours:

• Monday through Friday 8am – 5pm, with the option to work 7:30am to 4:30pm
• Overtime may be required during busy periods, as requested by management

Role:

The Trust Operations Associate I – Securities Specialist is responsible for the accurate and timely accounting of the investable assets held by the company’s Trust clients. Securities Accounting includes, but is not limited to, ensuring securities transactions are appropriately authorized, confirmed, executed and subsequently recorded accurately and timely in the Trust Accounting System. The Associate is responsible for calculating the daily cash settlement requirements and for requesting incoming and outgoing settlement wires.

• Performs daily operational duties, such as monitoring trade activity and ensuring trades are executed as authorized, including monitoring and authenticating 3rd party trades settling through the Banks custodian (i.e. “ad-hoc” arrangements)
• Reconciles Daily Transaction Reports of third-party custodians to the Trust Accounting System records
• Retrieves, validates and uploads external source data into the Trust Accounting System
• Ensures all trades are appropriately authorized, confirmed/affirmed and processed according to internal procedures
• Calculates the Daily Cash Settlement needs by custodian and ensures outgoing and incoming wire transfers are requested and processed timely and accurately
• Monitors and resolves unsettled, erroneous/failed trades or other similar exceptions and reports to the proper level of management

• Reconciles and posts dividend and interest receipts to the Trust Accounting System; identifies and resolves discrepancies

• Ensures that relevant and required regulations pertaining to trade and broker recordkeeping, documentation, confirmations, and other pertinent requirements are adhered to within the scope of Trust Operations’ responsibilities.

Education:

• High school diploma or equivalent required
• Bachelor’s Degree in Business or a related field preferred

Experience:

Previous Trust and banking experience preferred

Skills & Abilities:

• Excellent organizational skills, including the ability to prioritize work and multi-task
• Ability to handle a heavy volume of work
• Willingness to establish and maintain effective working relationships through a high level of interpersonal skills
• Exceptional communication skills, both written and verbal, that can be demonstrated with internal and external clients
• Ability to manage multiple projects simultaneously
• Ability to solve practical problems and deal with multiple variables in situations with limited guidance

• A general understanding of Trust and Securities Operations Regulations
• A strong fundamental understanding of Investable Securities and Securities Operations

Competencies:

• Adherence to Core First Values:
  Respect, Communication, Integrity, Initiative, and Accountability. A secondary focus on internal and external Customers, Compliance, Ethics, Perseverance, and Time Management is also essential.
• Career minded, willingness to achieve the next level
• Ability to solve practical problems and deal with multiple variables in situations with limited guidance
• Detail oriented with a high level of accountability for accuracy
• Intermediate Tier Microsoft Office - Excel skill (pivot tables/charts, nested logical/IF formulas, multiple criteria lookups, arrays)
• Strong personal drive and initiative, demonstrated work ethic, and ability to work independently and as a team

Physical:
Requirements:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to talk or hear. The employee is frequently required to sit, stand, and walk. Some light physical…