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Trust Fund Valuation Trading Specialist
Associated Bank
Green Bay, WI, United States
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Description
The employment policy of Associated Banc-Corp, and its subsidiaries and affiliates (“Associated”) provides equal opportunity to all persons. We support a diverse and inclusive work environment where colleagues are respected, treated fairly, and given equal opportunities to perform to their fullest potential. We believe it is only with a diverse and inclusive workplace that the organization can truly perform at its best, carry out its vision, and make a difference for the communities we serve.
JOB SUMMARY
Under limited supervision, value the Trust Company's Collective and Unitized funds daily and Common funds weekly and at month-end. This position will also be responsible for processing a variety of more complex operational functions including (but not limited to): trading, class action processing, Held Away account maintenance and balancing, monitoring and processing all outgoing domestic and international wires, ensuring broker statements are received for all applicable positions, researching and pricing positions not priced by the Trust Company's pricing service and RPS loan processing.
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
Account Maintenance
Collaboration
Attention to Detail
Accuracy
JOB ACCOUNTABILITIES
• Value Collective and Unitized funds daily, ensuring the net unit asset value is correct. Input pricing manually as needed. Monitor accruals, reorgs and pricing of assets. Process all participant trades and send prices to Matrix.
• Accurately and timely process all trades within the trust company (sole and directed accounts). Assist directed account customers with trading, questions and special requests to ensure customer satisfaction. Ensure timely settlement of trades and monitor fund availability prior to settlement.
• Weekly and at month-end, value the Common Funds, ensuring the NAV is correct. Input pricing manually as needed. Monitor accruals, reorgs and pricing of assets. Maintain spreadsheets to get the income factors. Manually input these factors to produce online MAPS to distribute income and gain/losses. Release and execute participant trades.
• Monitor domestic and international wires entered by Trust Administration and Operations, ensuring accurate and timely processing. For international wires, obtain the conversion rate for the country the wire is being sent to when needed. Research any wires that are not correct and inform the person who processed the wire of these errors for future reference. Charge wire fees as needed.
• Assist with the filing of class actions. Research holders and buy/sell transactions for that time period. Enter the information as directed by vendor requirements.
• Provide daily settlement of Common, Collective and Unitized Fund Trades. Reallocate funds received/distributed from Lifestage Collective Fund trades.
• Price assets that require manual pricing. Download pricing from Union Bank for the foreign assets held in trust. Monitor options to ensure they are set up and priced correctly. Monitor the Frozen Asset report for missing security prices. Obtain historical pricing on Bloomberg and update records in the Trust accounting system.
• Process TIPS packets and review them for accuracy. Communicate to the Trust Balancing & Statement Coordinator that the packets can posted or deleted.
• Balance account transactions for accounts where ATC is not custodian (held-away). Transactions that occur in the held-away accounts are replicated within the Trust Desk system through the use of a daily data collection interface. Use reporting to reconcile these positions.
• Process all new RPSS loans and loans paid by distribution. Ensure that all loan checks match deposits made by RPSS.
• Research any asset price variances over procedural limits to ensure accuracy of fund NAVs. Document the variance and attach to the variance report for audit review.
• Sort through broker statements and confirms received. Shadow account each position as stated in the procedure. At month end, ensure that all positions have been updated for statement purposes. Retrieve statements from websites or other areas as needed for all positions that are not received in Trust Operations.
• Manage the Trust securities lending process. Monitor and reconcile all positions to ensure that they can be delivered. Review security history for purchases and sales as well as pending trades for resolution of discrepancies. Monitor for return of assets no longer on loan and maintain the Trust accounting system to reflect receipt.
• Process all physical trade requests. Ensure that the trades are allowable for the type of accounts and coordinate the timely delivery and receipt of funds and shares.
• Provide backup for mutual fund trading/settlement, ACM Sweeps, Reorg/Settlement, Treasury Pledging/Dividend Reinvestment and SLUG processing.
QUALIFICATIONS:
Required Education: Associate's Degree Business, Accounting, or related field
Preferred Education: Bachelor's Degree Business, Accounting, or related field
Required Experience: 2-4 years trust, investments, finance or accounting
Preferred Experience: 4-7 years trust operations or investments
Special Skill Requirements:
Verbal Communication
Written Communication
Mathematical
Attention to detail
Ability to multi-task and prioritize
Analytical
Microsoft Office
Other Duties and Responsibilities
Performs other duties as assigned.
Job Requirements
Ability to interpret policies & procedures in accordance with standard banking practices;
Analyze, interpret and communicate complex issues and recommendations;
Adherence to Company policy and procedures is required.
Perform duties in accordance with the Vision & Values of Associated Banc-Corp.
Regular attendance is required.
Basic math and reading skills, and attention to detail.
Use of basic office equipment (e.g., photocopier, voice mail, "fax" machine, calculator, multiple line telephones, typewriter, computers etc.).
Represent the organization in a professional and positive manner.
Maintain credit exception approval percentages within corporate approved guidelines