Operational Services Associate

New York City, NY - USA

Yearly Salary: $ 70000 - 80000

Posted on: 8 days ago

Vacancies: 1 Vacancy

Job Summary

Purpose of Position:

The Operational Services Associate is responsible for supporting a broad range of operational processes within Trust Operations. The role ensures the accurate and timely execution of cash management the administration of Shares Held Elsewhere (SHE) assets benefit payments and other trust-related operational activities. The Operational Services Associate operates in a lead capacity making determinations on funding requirements Letter of Instruction (LOI) sequencing and resolving complex client and investment manager issues. The position also supports evolving departmental needs contributes to control and automation initiatives and partners with technology and management to enhance efficiency and risk mitigation.

Essential Job Functions:

Act in a lead capacity to analyze Letter of Instructions (LOIs) received from clients consultants and investment managers.
Determine appropriate sequencing of LOIs to ensure investments redemptions and cash movements are executed accurately and in accordance with the intent of the instruction.
Review and input entry of trades for DTC FED and mutual funds. Pre-balance next day trade activity and make determination whether early redemptions are required to fund scheduled activity.
Responsible for all aspects of cash movement (checks wires and ACH) including full instruction authentication and required controls. This includes verifying signatures confirming authority levels performing callback confirmations to authenticate instructions received and ensuring proper documentation. This includes oversight and processing for Shares Held Elsewhere (SHE) assets.
Managing SHE assets from custodians or investment managers review statements for changes in units held submit periodic prices or cost adjustments as necessary.
Providing oversight into incoming and outgoing cash transfers on investment management accounts ensuring adherence to requirements such as minimum balance threshold.
Ensure timely and accurate posting of all securities and cash related transactions.
Support DC37 and other benefit payments processes including funding payment processing database/record updates GL entries and distribution of required tax forms.
Work directly with sub-custodians to research and resolve operational issues escalating as necessary.
Partner closely with the third-party vendor FIS to ensure daily processing transactions data flow and system dependent activities are completed accurately and on time. Monitor their service delivery and escalate any issues promptly.
Serve as a primary contact with Investment Managers to ensure timely execution of trades initiated on behalf of the fund.
Review and act on daily control reports including fail reports overdraft reports and cash and securities break reports. Ensure all breaks are addressed promptly and escalated early when needed.
Assist management with internal audits regulatory examinations external audits and related documentation or remediation activities.
Support disaster recovery (DR) and business continuity planning (BCP) exercises and testing including participation during off-peak business hours when required.
Collaborate closely with Technology partners to identify and implement automation workflow enhancements (e.g. bots AI Solutions RPA Tools).
Cross train on other functional areas of Trust Operations and provide support as needed to ensure operational continuity.
Participate in annual career development planning and ongoing skills development
Perform other duties as required to support departmental and organizational objectives.

Knowledge Skills and Experience Requirements:

Bachelors degree or equivalent experience
Proven ability to think critically and independently exercise sound judgement and take initiative.

Strong proficiency with excel and general data analysis skills.
Thorough understanding of Depository Trust Company procedures and settlement practices.
Product knowledge of equities indexed funds financial futures.
General understanding of automated system processing across equities fixed income financial futures and options
Comprehensive knowledge of the accounting principles reconcilement process and operational control requirements
Excellent communication (written/verbal) and presentation skills.
Detail oriented with strong organizational skills; able to manage multiple priorities and meet deadlines.
Technology minded with interest to automate and drive process improvements.
Open minded and adaptable to change.

Required Experience:

Purpose of Position:The Operational Services Associate is responsible for supporting a broad range of operational processes within Trust Operations. The role ensures the accurate and timely execution of cash management the administration of Shares Held Elsewhere (SHE) assets benefit payments and oth...

Purpose of Position:

Essential Job Functions:

Act in a lead capacity to analyze Letter of Instructions (LOIs) received from clients consultants and investment managers.
Determine appropriate sequencing of LOIs to ensure investments redemptions and cash movements are executed accurately and in accordance with the intent of the instruction.
Review and input entry of trades for DTC FED and mutual funds. Pre-balance next day trade activity and make determination whether early redemptions are required to fund scheduled activity.
Responsible for all aspects of cash movement (checks wires and ACH) including full instruction authentication and required controls. This includes verifying signatures confirming authority levels performing callback confirmations to authenticate instructions received and ensuring proper documentation. This includes oversight and processing for Shares Held Elsewhere (SHE) assets.
Managing SHE assets from custodians or investment managers review statements for changes in units held submit periodic prices or cost adjustments as necessary.
Providing oversight into incoming and outgoing cash transfers on investment management accounts ensuring adherence to requirements such as minimum balance threshold.
Ensure timely and accurate posting of all securities and cash related transactions.
Support DC37 and other benefit payments processes including funding payment processing database/record updates GL entries and distribution of required tax forms.
Work directly with sub-custodians to research and resolve operational issues escalating as necessary.
Partner closely with the third-party vendor FIS to ensure daily processing transactions data flow and system dependent activities are completed accurately and on time. Monitor their service delivery and escalate any issues promptly.
Serve as a primary contact with Investment Managers to ensure timely execution of trades initiated on behalf of the fund.
Review and act on daily control reports including fail reports overdraft reports and cash and securities break reports. Ensure all breaks are addressed promptly and escalated early when needed.
Assist management with internal audits regulatory examinations external audits and related documentation or remediation activities.
Support disaster recovery (DR) and business continuity planning (BCP) exercises and testing including participation during off-peak business hours when required.
Collaborate closely with Technology partners to identify and implement automation workflow enhancements (e.g. bots AI Solutions RPA Tools).
Cross train on other functional areas of Trust Operations and provide support as needed to ensure operational continuity.
Participate in annual career development planning and ongoing skills development
Perform other duties as required to support departmental and organizational objectives.

Knowledge Skills and Experience Requirements:

Bachelors degree or equivalent experience
Proven ability to think critically and independently exercise sound judgement and take initiative.

Strong proficiency with excel and general data analysis skills.
Thorough understanding of Depository Trust Company procedures and settlement practices.
Product knowledge of equities indexed funds financial futures.
General understanding of automated system processing across equities fixed income financial futures and options
Comprehensive knowledge of the accounting principles reconcilement process and operational control requirements
Excellent communication (written/verbal) and presentation skills.
Detail oriented with strong organizational skills; able to manage multiple priorities and meet deadlines.
Technology minded with interest to automate and drive process improvements.
Open minded and adaptable to change.

Required Experience: