Position Title: Operations Associate III (Sr.)

Reports To: Operations Manager - Data & Reporting

FLSA Status: Exempt

Department: OPSDPT

Summary

The Operations Associate III works closely with the Director of Operations and Operations Manager to assist with day-to-day operations of the firm. This role is responsible for daily management of the entire operational life-cycle of the following processes: opening new account registrations, facilitating background checks, preparing cashiering requests, setting up account transfers, reconciling cost-basis and security data within the firm's portfolio accounting and CRM systems. It involves working within the Operations team and intradepartmental with Wealth Advisors, Client Service Associates, Trading and Compliance Officer. The Operations Associate III will have the opportunity for training and development to further their knowledge and skill set in financial operations.

Client Responsibilities

Minimal client facing responsibilities when needed to support WAs and CSAs

Team Responsibilities

Serves as a strong example for the Operations Team, setting a high standard for proactive operational support across all levels of the firm including, Client Service, Trading, Investment, Accounting and Management.

Provides mentorship, guidance, and training for Ops team members, assisting as needed with helping further develop team members and team best practices.

Continually work to improve efficiency of the area of Operations and its underlying policies, procedures, and best practices, working on greater integration of systems and digital technology.

Help define and enhance operational policies, procedures and best practices utilized in working with other departments in the firms.

Assists Operations Manager with quarterly client billing.

Works with WAs and Client Service team to prepare new account onboarding paperwork, this includes firm management agreement to be signed by client(s) and WA, and deciding which custodial agreements and supplemental forms are needed based on the account registration.

Processes compliance checks for customer background verification using third-party vendor and client risk scoring.

Responsible for setting up new accounts on our portfolio accounting system and CRM.

Updates and maintains security master database in portfolio accounting system to ensure proper set up of all security types including equities, fixed income, mutual funds, ETFs, etc.

Manages the firm's process for tracking & maintaining accurate cost basis calculations.

Process and track with custodians on the transfer of assets for incoming and outgoing cash and securities.

Works with custodians daily to resolve any outstanding client issues where the information is not in good order.

Track and monitor daily workflow utilizing CRM and portfolio accounting system to determine the daily priority of workflow.

Processes service requests for non-recurring client distributions, including RMDs, quarterly trust income distributions and incoming check deposits.

Prepares, assembles, and distributes client portfolio reports on a quarterly basis.

Assists with the annual distribution of privacy policy and tax estimate reports

Maintains updated policies and procedures as changes occur to existing workflows.

Communicates daily with CSAs & WAs to resolve client requests.

Prepares correspondence for distribution across L&W teams regarding changes to practice standards and/or updates from technology providers.

Work on ad-hoc projects related process improvements across the firm.

Train new members on daily processes and procedures.

Supports Operations Manager and Director of Operations in compliance-related tasks and audit requests.

Process account terminations within the internal systems and custodian

Facilitates daily reconciliation of account data.

Firm Responsibilities

Understand and support the firm's vision, mission, and strategy

Engage in teamwork and teambuilding and integrate into the culture of the firm

Stays apprised of L&W firm policies, industry best practices, and is constantly evaluating technologies to enhance our capabilities

Complies with all Firm's HR and Compliance policies

Degrees and Designations

Bachelor's degree (B.A. or B.S.) from a four?year college or university, preferably with a finance degree

No certificates or licenses required

Experience Requirement

Preferably seven to ten years related experience and/or training; or equivalent combination of education and experience

Proficient with Microsoft 365 (Word, Excel, Teams, Outlook, PP)

Ideally, experience with Tamarac Reporting, Trading and CRM, Charles Schwab and Fidelity custodial platforms or other similar systems

Experience with a CRM Database, Document Management software, andor other Financial Industry software is a plus

Skills Required

Proactive, strong work ethic and a solution-oriented mindset

Excellent organizational skills

Ability to multi?task, prioritize and meet deadlines

Professional appearance and demeanor

Ability to work well in a team environment

High attention to detail and timely follow-through

Strong communication skills - verbal & written

Supervisory Responsibilities

This job has Operations Team supervisory responsibilities

Trains operations team members

Assists or directs team with regards to more complex operations situations

Significantly contributes to Operations team practice standards