Function:

Working under limited supervision, the Trust Operations Specialist is responsible for many of the daily trust accounting functions, which include overseeing and/or processing daily cash and asset transactions, workflow of the Operations Department, and backup for others within the Operations Department.

Responsibilities:

• Process and post daily trust accounting transactions including income collections, capital structure changes, maturities and cash receipts.
• Process daily cash sweep and corresponding money market purchase/redemption.
• Post receipt of new funding and adjustments to cost basis for inception assets.
• Perform a valuation of client’s portfolio and update cost basis at the death of a client.
• Perform daily system balancing, which includes balancing to the Trust DDA.
• Process wire transfer and ACH transactions.
• Print checks for distribution and upload positive pay files for both corporate and trust accounts.
• Prepare, process, and review daily deposits for both corporate and trust accounts.
• Process and reconcile daily disbursements.
• Settle equity and mutual fund trades.
• Process adjusting and correcting entries.
• Collect custodian position reconciliations and resolve exceptions.
• Download Northern Trust reports.
• Respond to corporate action request/directions.
• Submit fiduciary federal and state withholding.
• Update prices and factors for certain mutual funds and money market fund.
• Process voided and stopped checks as requested.
• Initiate review and follow-up of outstanding checks.
• Maintain and generate customer statements.
• Setup, monitor, follow-up and reconcile mutual fund accounts at Matrix.
• Prepare monthly reconciliations for house accounts.
• Open and close client accounts as directed.
• Process trust and estate documents for client accounts.
• Process bills and disbursements for clients.
• Collect assets for the funding of new accounts.
• Provide backup support for other trust operations activities.
• Perform additional duties and special projects as assigned.

Required:

• Some college and accounting experience preferred.
• Excellent communication (oral and written) skills.
• Excellent customer service skills; excellent interpersonal skills for a quality working relationship with clients and Covenant Trust staff.
• Excellent organizational skills as well as the ability to manage multiple tasks efficiently and accurately.
• Ability to learn and utilize multiple company systems.
• Proficiency with Microsoft Office (Outlook, Word, Excel).
• Ability to work in a high volume and fast paced environment, handling multiple deadlines and multiple projects in a timely and professional manner.
• Self-directed and motivated, able to work fairly independently with excellent follow through and attention to detail, yet also able to work collaboratively with others when necessary.
• Able to maintain confidentiality.