Title: Reconciliation Representative (570-015-111)
Location: Chicago, IL
Compensation: Commensurate with experience
Summary:
The position is responsible for the daily account reconciliation of open-end mutual fund business between transfer agency and Custodian bank; Research, resolution, and reconciliation of out-of-balance items; Responsible for periodic reporting covering corrective processing, the recording of redemption fees, and communication and escalation of any issues that are discovered. The team member is also on point to develop and maintain appropriate working relationships with assigned business relationships (internal and external). This role also facilitates the intermediary payment process, and supports tax related projects.
Responsibilities:
Produce/report cash movement sheets
Research to identify/resolve any share balance discrepancy within a timely manner
Monitor the accrual for the Money Market Fund
Verify the validity of redemption fees on the cash movement sheets
Reconcile exchange/subscription/redemption accounts using TA Systems
Validate if redemption fees are withheld properly
Monitor/facilitate management reporting related to trade correction gain/loss impact
Perform internal money movement via SSB&T Cash Manager
Execute dealer fee payment to broker/dealer/financial intermediaries within a timely manner
Maintain status of all outstanding checks/facilitate the Communication team to send letters when necessary
Assist in annual TA/fund audit
Support bi-weekly meetings with 3rd party Custodian Bank/provide ongoing feedback to support monthly/quarterly Relationship Management Oversight Program
Complete any special projects assigned from management
Prepare monthly reports for management review
Assist quarterly in preparing trustee slides
Perform research/problem-solve/issue resolutions for outstanding items
Assist in the research/resolution of bounced check and /or Automated Clearing House (ACH) rejects (write trade corrections)
Submit all estimates to State Street Bank
Requirements:
Bachelor’s degree required
1-2 years of financial services industry experience preferred
Experience in fund accounting and/or tax environment
FINRA Series 6 within 8 months and Series 63 within 11 months of hire
Thorough understanding of mutual funds/securities pricing/account registrations/retirement plan processes/SEC/FINRA regulations/guidelines
Excellent organizational/time management/analytical/written/verbal communication skills
Ability to work in a fast-paced/constantly changing environment
Ability to shift focus dependent on the need of the department to support teamwork
Strong technical abilities in Microsoft Office (Outlook/Word/Excel/SharePoint)
If you are interested in this opening, please email us a copy of your resume as an MS Word attachment.
Thank you,
Julia Brown
BCI - Financial Services Recruiting
10 S. Wacker Dr., Suite 1250
Chicago, IL 60606
312-460-8222 x 106
julia@brokerageconsultants.com
www.brokerageconsultants.com
Location: Chicago, IL
Compensation: Commensurate with experience
Summary:
The position is responsible for the daily account reconciliation of open-end mutual fund business between transfer agency and Custodian bank; Research, resolution, and reconciliation of out-of-balance items; Responsible for periodic reporting covering corrective processing, the recording of redemption fees, and communication and escalation of any issues that are discovered. The team member is also on point to develop and maintain appropriate working relationships with assigned business relationships (internal and external). This role also facilitates the intermediary payment process, and supports tax related projects.
Responsibilities:
Produce/report cash movement sheets
Research to identify/resolve any share balance discrepancy within a timely manner
Monitor the accrual for the Money Market Fund
Verify the validity of redemption fees on the cash movement sheets
Reconcile exchange/subscription/redemption accounts using TA Systems
Validate if redemption fees are withheld properly
Monitor/facilitate management reporting related to trade correction gain/loss impact
Perform internal money movement via SSB&T Cash Manager
Execute dealer fee payment to broker/dealer/financial intermediaries within a timely manner
Maintain status of all outstanding checks/facilitate the Communication team to send letters when necessary
Assist in annual TA/fund audit
Support bi-weekly meetings with 3rd party Custodian Bank/provide ongoing feedback to support monthly/quarterly Relationship Management Oversight Program
Complete any special projects assigned from management
Prepare monthly reports for management review
Assist quarterly in preparing trustee slides
Perform research/problem-solve/issue resolutions for outstanding items
Assist in the research/resolution of bounced check and /or Automated Clearing House (ACH) rejects (write trade corrections)
Submit all estimates to State Street Bank
Requirements:
Bachelor’s degree required
1-2 years of financial services industry experience preferred
Experience in fund accounting and/or tax environment
FINRA Series 6 within 8 months and Series 63 within 11 months of hire
Thorough understanding of mutual funds/securities pricing/account registrations/retirement plan processes/SEC/FINRA regulations/guidelines
Excellent organizational/time management/analytical/written/verbal communication skills
Ability to work in a fast-paced/constantly changing environment
Ability to shift focus dependent on the need of the department to support teamwork
Strong technical abilities in Microsoft Office (Outlook/Word/Excel/SharePoint)
If you are interested in this opening, please email us a copy of your resume as an MS Word attachment.
Thank you,
Julia Brown
BCI - Financial Services Recruiting
10 S. Wacker Dr., Suite 1250
Chicago, IL 60606
312-460-8222 x 106
julia@brokerageconsultants.com
www.brokerageconsultants.com
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