Account Services Specialist II

Ultimus Fund Solutions; Town of Islip (NY); On-site; USD 55,000 - 75,000; Full time

Job summary

A leading financial services firm is seeking an Account Service Specialist II responsible for various Transfer Agency functions and maintaining records for mutual fund and alternative investment clients. The successful candidate will interact with team members, handle transactions, and ensure compliance with industry regulations while demonstrating strong problem-solving and organizational skills.

Qualifications

• 2-6 years of experience in client services or related field.
• Experience within the financial services industry.
• Series 6 license preferred.

Responsibilities

• Processes alternative investment transactions and mutual funds transactions.
• Maintains accurate records for mutual fund and alternative investment clients.
• Provides shareholder service support via email and phone communication.

Skills

Analytical skills

Multitasking

Organizational skills

Initiative-taking

Problem-solving

Education

Bachelor’s degree in business administration or related field

Tools

Microsoft Office Suite

Adobe Acrobat

Job description

SUMMARY

The Account Service Specialist II is responsible for providing various Transfer Agency functions and maintaining accurate records for mutual fund and alternative investment clients. Additionally, this position will require limited direct interaction with clients and extensive interaction with team members.

KEY ACCOUNTABILITIES

ALTERNATIVE INVESTMENTS

• Establishes alternative investment new accounts by entering customer information from the subscription document.
• Processes alternative investment transactions (repurchases, transfer-in-kinds, purchase, and maintenance.)
• Processes wire holdbacks, Capital Calls, and daily reports.
• Completes quality control review on alternative investment workflow activities.

MUTUAL FUNDS

• Establishes new accounts by entering customer information from new account application.
• Initiates incoming transfers by sending paperwork to the delivering custodian.
• Monitors transfer progress and status; follows-up as needed.
• Links corresponding account for rights of accumulation or plan accounts along with processing letters of intent.
• Processes basic financial transactions (redemptions, purchases, exchanges, TIKs, and account rebalances.)
• Processes retirement plan account transactions according to IRS regulations.
• Prepares and reconciles check deposit daily.
• Processes shareholder account maintenance and returned mail.
• Maintains and updates all aspects of account registration including beneficiaries, automatic investment plans, systematic withdrawal plans, asset allocations, and dividend reinvestments or distributions.
• Processes daily reports.
• Indexes workflows.
• Coordinates opening, logging, and scanning of account-related paperwork.
• Prepares legal correspondence (return of rejected documents, communicating instructions, etc.)
• Completes quality control review.
• Obtains missing new account information and seeks clarification as needed.
• Calculates and processes required minimum distributions amounts for IRA accounts.
• Processes required minimum distribution systematic withdrawal plans for IRA accounts.
• Processes daily check writing files and complex financial transactions (death, divorce, etc.)
• Provides shareholder service support by answering questions via email and phone communication.

COMPLIANCE ACTIVITIES

• Reviews new account paperwork to ensure account meets compliance requirements.
• Maintains Ultimus Knowledge Management System (KMS.)
• Utilizes Ultimus transfer agent recordkeeping and workflow system.
• Monitors account activity for fraudulent red flags such as anti-identify theft and money laundering.

WORKING RELATIONSHIPS

• Orders supplies and pulls boxes for offsite storage vendors.
• Periodic contact with shareholders, financial representatives, and broker-dealer firms.
• Daily contact with members of team and internal teams regarding follow-up on inquiries, open workflow, etc.

May perform other duties as required and assigned.

EDUCATION AND EXPERIENCE

• Bachelor’s degree in business administration or related field.
• 2-6 years of experience in client services or related field.
• Experience within the financial services industry.
• Series 6 license preferred.

KNOWLEDGE

• Operational standards, SEC, IRS, and prospectus guidelines.
• Retirement plans, mutual fund IRS regulations, and alternative investments.
• Microsoft Office Suite.
• Adobe Acrobat.

SKILLS AND ABILITIES

• Troubleshoots issues utilizing creative and critical thinking skills.
• Multitasking, analytical, and organizational skills.
• Initiative-taking, strategic, and meticulous approaches with a strong commitment to quality, efficiency, and effectiveness.
• Demonstrates personal integrity, responsibility, and accountability.
• Effectively uses resources such as time and information in conjunction with associates.
• Participates in solving problems and making decisions.
• Presents and expresses ideas and information, written and oral, clearly, and concisely.
• Actively listens to others to achieve understanding and supports an open exchange of ideas and information.
• Identifies needs, arranges for, and obtains resources to accomplish individual and department goals.
• Establishes and develops effective working relationships with associates and clientele during both favorable and unfavorable situations.
• Modifies team and individual priorities and deadlines in response to added information, changing conditions, or unexpected obstacles and ensures completion.

Equivalent education, experience, and KSA’s will be considered.

Ultimus is an equal opportunity employer and does not discriminate on the basis of the applicant’s or employee’s race, color, religion, national origin, ancestry, gender, sexual orientation, age, disability, veteran or military status, genetic information, citizenship or any other status entitled to protection under federal, state or local anti-discrimination laws. No questions on our employment application are intended to secure information that is to be used for impermissible purposes.