Custody Operations Associate

Kelmar Associates, LLC; Middleton (MA); Remote; USD 50,000 - 52,000; Full time

Benefits offered by this job

Medical, Dental and Vision Insurance

401(k) Plan with Company Match

Paid Parental Leave

Paid Time Off

Tuition Assistance

Discretionary Annual Bonus

Job summary

Kelmar Associates, LLC is hiring a Custody Operations Associate (Entry Level) in a remote role. You will work with the Security Operations team, sub-custodian, and clients to reconcile transactions and maintain the unclaimed property database.

You’ll gain experience in client communications, corporate actions, and data integrity while supporting daily reconciliations and special projects.

Qualifications

• Bachelor’s degree or equivalent; willing to train the right candidate.
• Strong writing and analytical skills.
• Comfortable with MS Office and general software.
• Ability to work independently in a remote setting.

Responsibilities

• Perform daily reconciliation of client accounts in the unclaimed property database.
• Review and transfer accounts to the custodial account with detailed tracking.
• Execute transactions per client instructions using sub-custodians.
• Update client databases with transfers, proceeds, and corporate actions.
• Identify discrepancies and report to Custody Operations Manager.
• Communicate with clients about account activity and issues.
• Assist with onboarding new clients and special projects.

Skills

Interpersonal communication

Analytical thinking

Written communication

Independent work

Detail oriented

Education

Bachelor’s degree or equivalent

Tools

MS Office

MS Windows

Job description

The Custody Operations Associate is an Entry Level position who will work closely with Kelmar’s Security Operations team, sub-custodian, and clients to execute instructions, reconcile transactions in the sub-custodian account and ensure all transactions are properly reflected in the client’s unclaimed property database. This is a remote position.

RESPONSIBILITIES AND DUTIES:

• Perform daily reconciliation of each client account held by the sub-custodian to their unclaimed property database
• Review and transfer accounts held at mutual fund companies, brokerage firms, and transfer agents to State’s custodial account; maintain detailed tracking of funds transferred
• Receive instructions from clients and their unclaimed property database regarding selling and/or transferring shares; execute transactions as instructed using the sub-custodians
• Perform manual updates to the clients unclaimed property database as necessary including: transfers, sale proceeds, corporation actions, liquidations, capital gains and dividends
• Identify and properly report discrepancies to Custody Operations Manager
• Ensure security type designations such as mutual funds and common stock are properly identified in the unclaimed property database
• Perform research for clients related to corporate actions and individual CUSIP histories; record and provide entitlement calculations upon request
• Assist with testing changes to workflows, documents and batch processes as needed
• Perform quarterly reconciliation of accounts to ensure worthless securities are identified and updated in the clients unclaimed property database
• Communicate with clients regarding a variety of account activities including incoming receipts, corporate actions, worthless securities, un-exchangeable securities, security transfer issues, sale proceeds and status, and any other relevant issues that arise
• Assist with special projects when new clients have been onboarded

QUALIFICATIONS:

• Bachelor’s Degree or equivalent combination of education and experience; willing to train the right candidate
• Excellent interpersonal and communication skills; will be communicating with external clients
• Comfortable with a wide variety of technologies including MS Office, MS Windows, and other types of general computer software
• Strong writing and analytical skills
• Must be able to work independently learning the expected results from the management team and the ability to execute daily tasks on behalf of clients
• Self-starter, since this position is remote it is reliant on the Custody Operations Associate to complete daily tasks
• Must be detailed oriented as daily, weekly, and monthly reconcilements of data will be required
• Candidates must be legally authorized to work in the U.S without sponsorship now and in the future

SALARY & BENEFITS:

Compensation for this role varies depending on several factors including work location, level of experience, and skill set. As required by applicable law, the hiring range for this position is $50,000 - $52,000.

In addition, Kelmar provides the following benefits:

• Medical, Dental and Vision Insurance
• Flexible Spending Plans
• Health Savings Account
• Health Reimbursement Arrangement
• Basic Life, AD&D, and Voluntary Term Life Insurance
• Disability Insurance
• 401(k) Plan with Company Match
• Paid Parental Leave
• Paid Time Off
• Tuition Assistance
• Eligible for Discretionary Annual Bonus

The rewards for this position are many. We offer a great working environment that provides for work/life balance and an excellent compensation and benefits package. Kelmar provides training and the opportunity for career advancement.

Kelmar Associates is an equal opportunity employer

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