Wealth Asset Control Mid Office Manager

Wealth Firm Operations is responsible for back and middle office processing for approximately $9 billion in assets under administration, approximately 2,250 fiduciary and non-fiduciary accounts and multiple revenue lines. The purpose of this job is to manage all activities and team members required to open/close accounts, maintain accurate data records on the accounts, statement processes for accounts, maintain accurate custodial asset records, oversight of vendor and sub custodial relationships/platforms for ongoing activities for back office and middle office functions. These responsibilities may include but are not limited to corporate action events and responses, fulfillment or settlement of asset transactions or asset transfer, vault custody control, asset income collection, and the complete and accurate maintenance of financial and static asset records and data as well as strengthening processes and efficiencies within Wealth Firm Operations’ back and middle office account and asset movement functions within the department.

• Lead, develop, and cross-train a team of associates to promote maximum productivity, engagement, succession planning and overall contribution to the strategic organizational goals.
• Ensure that proper procedures and controls are in place and adhered to that assure that client asset activity is fulfilled in a timely, accurate and complete manner, including but not limited to trade settlement, asset transfer, income collection, security events, and corporate action responses.
• Responsible for monitoring and approving asset setup and maintenance activities, including data pertaining to platform subscribed assets, firm specific assets, or any other assets. These assets may include a broad range of marketable and non-marketable debt or equity securities, real estate, mineral interests, collectables, partnerships, or assets held at other institutions for the benefit of Wealth clients.
• Ensure that proper procedures and controls are in place and adhered to for all assets held under Firm Custody in the physical and digital vaults throughout the firm, and that vault security and accessibility is controlled and operating properly.
• Manage, control and maintain quality, accurate, and complete asset records and data, and execute corrective measures when necessary.
• Manage, control and execute the foundational and cyclical client statement processes in a timely, accurate and complete manner. This includes design, creation, review, accuracy, approval and release.  
• Monitoring and reviewing the workflows pertaining to the approval of client enrollment, account information enrichment, and the transactions and workflows required to follow through with account opening and closing.
• Work with Risk Management on an as needed basis for Compliance, Internal Audit and Regulator requests for items within the purview of the role.
• Responsible for leading/participating in department and division level initiatives and projects as it relates to the accounting functions of Wealth Management.
• Responsible for consuming and implementing changes as a result of ongoing technology releases and updates from the applicable vendors.
• Responsible for ongoing reviews, enhancements and changes to the applicable control framework for Asset Control and Middle Office.
• Responsible for identifying, enhancing and monitoring of key performance indicator/SLA performance measurements for all functions under this unit’s responsibility.
• Support the Wealth Firm Operations unit along with its manager and the Wealth Management division in assigned financial reporting functions, and as requested for unit projects, or operational events.
• Continuously develop personal and supervised associate subject matter expertise to improve and strengthen processes, efficiencies,
• Perform additional duties as assigned.

Required:

• Individuals can qualify in one of four ways: 
  • Master of Accounting or Master of Business Administration in Finance with 15 or more years of operational experience in a wealth management or securities operations environment; OR
  • Bachelor’s degree in accounting, CTOP/CSOP certification, and 15 years of operating experience in a wealth management operation; OR
  • FINRA Series 65, 24, 7, 63 and 10 or more years of securities processing experience in a wealth management operating environment; OR
  • CPA with 10 or more years of experience in a wealth management operating environment.
• Expert research and analystical skills
• Expert knowledge of various financial and firm specific securities and their different characteristics.
• Sound judgment and ability to make decisions and guide others to fulfill decision requirements.
• Expert Microsoft Excel user skills.
• Leadership competency for a staff of 6-8 associates.
• Time management principles to prioritize workload.
• Propensity to achieve high client service levels.
• Interpersonal and interdepartmental collaboration and communication skills.
• Ability to demonstrate previous project management experience.

Preferred:

• SEI Wealth Platform experience
• Working knowledge of data visualization technology, such as Microsoft Power BI.
• Working knowledge of trust and wealth management assets and principal & income accounting.
• Preferred Certificates:
  • Certified Securities Operations Professional (“CSOP”)
  • Certified Trust Operations Professional (“CTOP”)
  • Certified Fiduciary and Investment Risk Specialist (“CFIRS”)
  • FINRA Series 65, 24, 7, 63 or 10

Physical Requirements/Working Conditions:  Must be able to sit for long periods of time and use computer keyboard and/or mouse, while viewing computer screens. 

Note: This is a brief description of this position and is not limited to those described herein. Management retains the right to add, delete or modify any of these responsibilities at any time during employment.