Wealth Management Operations Specialist

Wealth Management Operations Specialist

Location: Tulsa, OK

Description

The Wealth Management Operations Specialist is primarily responsible for all transactional processing supporting Wealth Management accounts on the trust and/or bond accounting system which could include setting up and maintenance of securities, transactional processing, trade execution and settlement, foreign currency exchange, valuations, and reconciliations. This position works closely with account officers within Wealth Management and Operations & Technology, Risk, Compliance, and Audit departments, external depository's, vendors, and brokers to ensure that client accounts are reflected accurately for performance and reporting requirements.

ESSENTIAL DUTIES
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals to perform the essential functions.

• Ensures all security transactions and daily processes are completed timely, accurately and within the policy guidelines.
• Balances and reconciles daily activity between depositories and the trust and/or bond accounting system resolving discrepancies to prevent financial losses and negative impact.
• Ensures accurate and timely movement of funds between domestic and international depositories and institutions.
• Develops, implements, and utilizes process improvement while maintaining strong controls to mitigate risk to the bank and clients.
• Applies knowledge of securities processing and Wealth Management, utilizes interpretive skills, process management tools, and systems to continually define, visualize, measure, analyze, improve, report, and control processes with the goal to meet internal and external customer and regulatory requirements.
• This includes writing and refining procedures that can be easily followed by other members of the team for transactional processing and reporting.
• Resolves complex issues timely to minimize losses to the bank and/or client; provides support to auditors, compliance, account officers, investment managers, WMS management, and support personnel; provides resolution of complex discrepancies involving reconciliation between various Wealth Management accounting systems and third-party vendors.
• Recommends procedures, alternatives, and options for securities processing; participates in conference calls for trust and/or bond account conversions, and user group meetings and provides input regarding project requirements and process improvements.
• Tests and documents the reports necessary to support day-to-day operations and longer-term strategic decisions.
• Provides input related to requirements development and programming through ongoing maintenance and modification.
• Works proactively among the groups to identify solutions or resources to complete any project and/or exception processing.
• May perform other duties as assigned.

EDUCATION & EXPERIENCE REQUIREMENTS
This level of knowledge is normally acquired through completion of a Bachelor's Degree in Accounting or Finance and 1-4 years of directly related experience in a high volume securities operations environment is preferred or an equivalent combination of education and experience.

SKILLS:

• Advanced PC and operating software application skills.
• Excellent research, analytical, and organizational skills; ability to plan and coordinate the movement of potentially large volumes of transactions.
• Must demonstrate previous experience independently solving complex problems, and identifying appropriate resources while meeting extremely stringent deadlines.
• Excellent communication and interpersonal skills, leadership ability, social and professional etiquette, including oral and written communication skills.
• Ability to communicate information clearly and concisely.
• Ability to gain consensus among parties with conflicting interests.
• Working knowledge of a broad variety of securities and Wealth Management accounting systems.
• Working knowledge of accounting principles and practices with an emphasis on reconciliation and detail-oriented tasks in a potential high-volume environment.
• A general understanding of trust and/or bond accounting knowledge is preferable.
• Ability to improve efficiency, track complex activities and improve methodology.

WORKING CONDITIONS AND 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.

OFFICE: Usual office environment with frequent sitting, walking, and standing. Frequent use of eye, hand, and finger coordination enabling the use of office machinery. Oral and auditory capacity enabling interpersonal communication as well as communication through automated devices such as the telephone.

WORKING RELATIONSHIPS/CONTACTS
Positions, other than supervisor and immediate co-workers, with which incumbent has frequent contact and the reason for contact.

Internal - Daily contact with employees and management within the Wealth Management and Operations and Technology divisions; daily contact with support personnel to explain policy and procedures, train and counsel; frequent contact with bank management, investment officers, account officers, and other bank departments to resolve complex problems or coordinate cross-functional improvements.

External - Occasional contact with depositories, vendors, banking institutions, regulatory agencies, and wealth management clients to resolve issues and/or provide education with respect to processes or key technology solutions.

FINANCIAL ACCOUNTABILITY
Budget/asset amount managed, revenues/profits produced, and/or other financial resources incumbent is accountable for. Also indicates judgment/decision making level.

This position shares responsibility for Securities Services processing with an annual trading volume in the trillions, an average of over 5,000 trades per day, and custody of more than $76 billion in assets. This position is critical to minimizing losses which have the potential to significantly impact client accounts, financial results, and corporate reputation.