Custody Operations Associate

Overview

This entry-level role works closely with the Security Operations team, sub-custodian, and clients to execute instructions, reconcile transactions in the sub-custodian account, and ensure all transactions are properly reflected in clients’ unclaimed property databases. This is a remote position.

Responsibilities

• Perform daily reconciliation of each client account held by the sub-custodian to their unclaimed property database
• Review and transfer accounts held at mutual fund companies, brokerage firms, and transfer agents to the State’s custodial account; maintain detailed tracking of funds transferred
• Receive instructions from clients and their unclaimed property database regarding selling and/or transferring shares; execute transactions as instructed using the sub-custodians
• Perform manual updates to clients’ unclaimed property database as necessary, including:
  • Transfers
  • Sale proceeds
  • Corporation actions
  • Liquidations
  • Capital gains and dividends
• Identify and properly report discrepancies to the Custody Operations Manager
• Ensure security type designations (e.g., mutual funds and common stock) are properly identified in the unclaimed property database
• Conduct research for clients related to corporate actions and individual CUSIP histories; record and provide entitlement calculations upon request
• Assist with testing changes to workflows, documents, and batch processes as needed
• Perform quarterly reconciliation of accounts to ensure worthless securities are identified and updated in clients’ unclaimed property databases
• Communicate with clients regarding account activity, including incoming receipts, corporate actions, worthless securities, un-exchangeable securities, security transfer issues, sale proceeds and status, and other relevant issues
• Assist with special projects when new clients are onboarded

Requirements

• Bachelor’s Degree or equivalent combination of education and experience; willing to train the right candidate
• Excellent interpersonal and communication skills (including communication with external clients)
• Comfortable with a wide variety of technologies including MS Office, MS Windows, and other general computer software
• Strong writing and analytical skills
• Ability to work independently, learning expected results from the management team and executing daily tasks on behalf of clients
• Self-starter (remote role requires completion of daily tasks)
• Detail-oriented, with daily, weekly, and monthly reconciliations of data
• Candidates must be legally authorized to work in the U.S without sponsorship now and in the future

Compensation & Benefits

• Hiring range (as required by applicable law): $50,000 - $52,000
• Medical, Dental and Vision Insurance
• Flexible Spending Plans
• Health Savings Account
• Health Reimbursement Arrangement
• Basic Life, AD&D, and Voluntary Term Life Insurance
• Disability Insurance
• 401(k) Plan with Company Match
• Paid Parental Leave
• Paid Time Off
• Tuition Assistance
• Eligible for Discretionary Annual Bonus

Location

Remote