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Trust Reconciliation Specialist
Associated Bank
Green Bay, WI, United States
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Description
Associated Bank is an equal opportunity employer committed to creating a diverse workforce. We support a work environment where colleagues are respected and given the opportunity to perform to their fullest potential. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants with a disability who need assistance applying for a position with Associated Bank are asked to email: colleaguecare@AssociatedBank.com or call: (800) 878-3282.
JOB SUMMARY
Under limited supervision, responsible for the reconcilement and report preparation of all Trust Demand Deposit Accounts (DDA), internal clearing accounts and security positions held. On a daily basis, monitor trust accounts with overdrafts, reconcile and process reports for security positions held at Depository Trust Company (DTC), Matrix and Federal Reserve (weekly), monitor ACH reports, internal suspense and float accounts, balance the Trust checking account, research all outstanding items, communicate to appropriate departments as needed. On a monthly basis, process reconciliation management reports. On a quarterly basis, submit Trust checking account overdraft memo to be included in the Associated Trust Company (ATC) Board report, balance assets held as stock dividend reinvest, brokerage, mutual funds and provide detailed reconciliation for management and audit. As requested, respond to internal audit requests and inquiries to support their reviews of the department on a regular basis. Also, provide various reconciliations to the Associated Control Department. As needed, provide full backup to the Trust Balancing and Statement Coordinator.
COMPLIANCE STATEMENT
Operates in full compliance with internal policies and procedures as well as applicable regulations and laws, including but not limited to Bank Secrecy Act/Anti-Money Laundering requirements. Responsible to report any procedure or process that doesn’t meet regulatory requirements including fraud, whether suspected or confirmed, to management. This reporting can be done directly to any member of management, including Human Resources or Corporate Security, or can be reported through Associated’s anonymous Ethics Hotline.
KEY RESULT AREAS
Problem Solving
Reconciling
Research
Collaboration
Time Management
Attention to Detail
Accuracy
Communication
JOB ACCOUNTABILITIES
Prepare a daily reconciliation on the Trust checking account. Monitor all money coming into or out of the checking account. Ensure all transactions in the checking account clear with a corresponding Trust account transaction. Monitor all Motocross transactions daily. Research discrepancies and communicate with appropriate individuals for resolution. Monitor that at the end of the business day, this account does not go overdrawn.
Research and reconcile Trust security positions for assets held at the Depository Trust Company (DTC), Federal Reserve, Matrix, Union Bank and Slugsafe. Follow-up with Trust Operations personnel to resolve exceptions. Prepare month-end reports for management.
Research and reconcile 35+ internal clearing accounts for Trust such as charge off, auto trades, excess interest/dividend accounts, etc. In addition, provide a recon of AIC/BMO for Treasury and complete a Fed recon at the account level using the appropriate system. Monitor daily to ensure items are being researched and cleared in a timely manner. Prepare balancing reports for management.
Reconcile DTC Options, Commercial & Mortgage Trust Loans, Past Due Loans & Maturities, the Trust Fee Account, and Principal/Income Custody. Prepare a report of all outstanding items in the vault; communicate with those who have outstanding tickets for any additional information to add to the report. Prepare and distribute reports to management.
Balance all internal checking accounts monthly to ensure funds are processed properly and checks are cleared in a timely fashion. Provide a monthly recon of these accounts for audit. Prepare a report for Trust Administration on stale dated checks outstanding over 90 days.
Provide necessary back-up support to the Trust Balancing & Statement Coordinator for the balancing of the daily blotter for work processed throughout the regions. Assist with additional responsibilities when needed such as statement preparation, ordering and distribution, ordering and monitoring inventory of office supplies, pull or file items in the vault, aid in processing destruction notices for Corporate Trust and confirm pins at DTCC.
Monitor various internal suspense and float accounts. Communicate any issues with the appropriate individuals to resolve. Monitor the transaction activity in all accounts in accordance with BSA guidelines. Monitor ACH reports for changes and/or rejects. Work with Trust Administration on any questions and escalate any concerns to management in a timely manner.
Quarterly, submit Trust checking account overdraft memo to be included in the ATC Board report. Submit various reconciliations to the Associated Control Department.
Monitor trust account overdrafts on a daily basis. Notify Trust Administration of issues and report those that exceed policy limits to management and the Board of Directors.
Quarterly, balance assets held as stock dividend reinvest, brokerage, mutual funds and provide detailed recon for management an audit.
As requested, provide detailed report for management, internal and/or external audit as well as the OCC. Participate in audit or OCC meetings.
Monitor the APO mailbox and notify Trust Administration of any issues.
Qualifications
EDUCATION
Associate's Degree Accounting or related field Required
Bachelor's Degree Accounting, Finance, Business or related field Preferred
EXPERIENCE
2-4 years 2-4 years of accounting experience Required
4-7 years 4-7 years of accounting experience Preferred
SKILLS
Verbal Communication Intermediate
Written Communication Intermediate
Mathematical Intermediate
Attention to detail Advanced
Analytical Advanced
Microsoft Office Intermediate