Operations Specialist

Job Summary:

To provide analytical support to Choate Hall & Stewart's Wealth Management Department and Choate Investment Advisors. Cash and asset requests will be reviewed, entered into custodial accounting systems with proper coding, taxation, description, and sent for approval.

Job Functions:

• Maintain account and client data on accounting system. This includes statement setup, client portal setup, address changes, account/client personnel and investment details.
• Process ad-hoc cash requests including checks, wires, ACH payments, transfers, and receipts. This involves managing assigned request inboxes, reviewing the request to ensure all necessary information is accurate, then entering the request into the appropriate custodial accounting system.
• Create and maintain individual client payment schedules and reconcile payment process daily. Work with trust advisors and electronic file specialists to identify potential late payments and receipts.
• Reconcile cash balances - involves reviewing exception reports provided by custodian bank and researching discrepancies. All discrepancies must be addressed same day and resolved within 2 business days.
• Process and monitor incoming and outgoing asset transfers via ACAT and DTC.
• Coordinate with custodians and counterparties to ensure timely settlement and resolution of transfer discrepancies.
• Validate transfer documentation and ensure compliance with firm and custodian standards.
• Track transfer progress, communicate updates to advisors, and escalate issues as needed.

• Works proactively with others to support efforts within a department or function of the Firm.
• Strong Excel skills.
• Maintains current knowledge of trends and developments affecting the area of specialization.
• Uses innovative thinking and exercises sound judgment to achieve results.

Qualifications:

• Bachelor's Degree required. Concentration in Accounting, Finance, or Business Administration preferred.
• 1-2 years of progressive experience within Trust Operations required. Will consider internship experience within Wealth Management.
• Knowledge of Trust Operation procedures and the processing of individual account transactions.
• Must be a team player and be able to consistently meet deadlines.