Finance Operations

NEW!! Operations Specialist, Wealth Management/ Legal, Boston (hybrid/ 3 days in office)

About the Company/Role:

Our client, a highly respected and collegial firm, is seeking a meticulous and proactive professional to join their Wealth Management Department as an Operations Specialist to join their downtown Boston office. This pivotal role provides essential analytical and operational backing, ensuring the seamless administration of client assets and cash flows. This critical role offers an opportunity to provide sophisticated operations and transactional support to a select group of Trust Advisors and high-net-worth clients, operating at the intersection of legal expertise and personalized client service. This is an exciting chance to become an integral part of a supportive culture that values professional development and offers comprehensive rewards. This position features an attractive hybrid schedule requiring only three days per week in the office. The flexible work hours are typically 9:00 AM–5:00 PM or 8:00 AM–4:00 PM.

What you'll do:The successful candidate will be the engine driving key daily operations, encompassing asset management, transaction processing, and data integrity.

Transaction and Cash Management:

• Facilitate diverse ad-hoc client requests for payments, including coordinating checks, wires, ACH, and internal transfers, while also processing incoming receipts.
• Rigorously review all cash and asset requests, accurately coding them for taxation and description, and entering them into the custodial accounting platforms for timely approval.
• Manage, execute, and reconcile individual client payment schedules on a daily basis.
• Collaborate closely with internal advisory teams to proactively identify and address potential delays in payments or receipts.

Account and Data Integrity:

• Maintain and update comprehensive client and account data within the accounting system, which includes managing statement configuration, setting up client portals, coordinating address changes, and documenting personnel and investment specifics.
• Spearhead the reconciliation of all cash balances by meticulously reviewing exception reports from custodian banks and resolving all identified discrepancies. Critical issues must be addressed the same day and resolved within two business days.

Asset Transfer Coordination:

• Oversee and process all incoming and outgoing asset transfers utilizing industry standard protocols (ACAT and DTC).
• Validate all transfer documentation to guarantee full compliance with both the firm's and the custodian's standards.
• Act as the primary coordinator with external custodians and counterparties to ensure swift settlement and resolution of any transfer-related issues.
• Keep internal advisors informed of transfer progress and escalate complex matters as needed.

About you:

• A Bachelor's Degree is required. A focus in Accounting, Finance, or Business Administration is strongly preferred.
• 1-2 years of progressive experience within trust or wealth management operations is necessary. Pertinent internship experience within Wealth Management will be considered.
• Demonstrated understanding of trust operation and/ or wealth management procedures and the processing of individual account transactions.
• Exceptional proficiency in Microsoft Excel.
• Legal authorization to work in the United States without the need for future or current visa sponsorship is a prerequisite.