Income Specialist - Wealth Operations

Mercantil Commerce Bank; Kansas City (MO); Hybrid; USD 40,000 - 51,000; Full time

Benefits offered by this job

Health insurance

Dental insurance

Vision insurance

401(k)

Life insurance

Paid vacation

Paid personal time

Job summary

Commerce Bank in Kansas City, MO is seeking an Income Specialist - Wealth Operations to support accurate processing of income-related transactions for client accounts. You will monitor, reconcile, and post income while ensuring compliance with procedures.

Hybrid schedule: in office a minimum of 2 days per week. Requires an Associate’s degree and 2+ years in financial services; duties include monitoring wire/ACH deposits, reconciling accounts, and clear communication with internal partners.

Qualifications

• Associate’s degree or equivalent combination of education and experience required.
• 2+ years of Financial Services Industry related experience with securities knowledge preferred.
• Must be eligible to work in the US without sponsorship now or in the future.

Responsibilities

• Monitor and deposit income to client accounts in a timely, accurate manner.
• Balance shadow accounts and resolve exceptions between trust and custodian systems.
• Generate and distribute past due income reports to enable collection.
• Reconcile asset records between tracking and trust systems and resolve discrepancies.
• Execute vault deposits and withdrawals per procedures and controls.
• Post income to client accounts promptly and accurately.
• Communicate income-related status updates with internal partners and leadership.
• Investigate and resolve income-related exceptions to ensure accuracy.
• Monitor and balance account records and manage multiple priorities.

Skills

Analytical thinking

Communication

Independence

Multitasking

Attention to detail

Team collaboration

MS Office proficiency (Word, Excel, TE

Education

Associate’s degree or equivalent

Tools

Microsoft Word

Microsoft Excel

Microsoft Teams

Microsoft Outlook

Job description

About Working at Commerce Building a career here is more than just steps on a ladder. It’s about helping people find financial safety and success, helping businesses thrive, and making sure people and their money are taken care of. And our commitment doesn’t stop there. Our culture is about our people, the ones in our communities and the ones that work with us. Here, you’ll find opportunities to grow and learn, to connect with others, and build relationships with the people around you. You’ll have the space and resources to grow into the best version of yourself. Because our number one investment is you. Creating an award-winning culture doesn't come easy. And after 160 years, we know Commerce Bank is only at its best when our people are. If this sounds interesting to you, keep reading and let’s talk.

Compensation Range

Hourly: $19.00 - $24.50 (Amount based on relevant experience, skills, and competencies.)

About This Job

The main purpose of this job is to support the accurate and timely processing of income-related transactions and account activity for client accounts. This includes monitoring, researching, reconciling, and posting income while ensuring accurate account maintenance, exception resolution, and compliance with established procedures.

Work Schedule

Monday - Friday 7:00 AM - 5:00 PM

Essential Functions

• Monitor incoming wire and ach deposit accounts (DDA) for receipt of payments to ensure they are accurately applied to client accounts on a timely basis.
• Monitor and balance shadow accounts from the trust system to the custodian system. This includes resolving exceptions as noted daily.
• Generate and distribute past due payment reports to front office personnel to enable collection of funds due to client accounts.
• Reconcile non-depository asset records between tracking and trust systems, researching and resolving exceptions to ensure accurate account maintenance
• Execute vault deposit and withdrawal transactions, ensuring accurate processing and compliance with established procedures and controls
• Monitor income activity to ensure funds are accurately and timely posted to client accounts
• Monitor receipt of income payments and ensure funds are accurately applied to client accounts in a timely manner
• Track and elevate missing or past due income to appropriate business partners to support timely collection and posting
• Communicate income-related status updates clearly with internal business partners and leadership
• Resolve identified exceptions to support accurate and timely client account updates
• Monitor and balance account records, research out-of-balance conditions, and resolve exceptions timely
• Monitor income exception reports and resolve discrepancies to support accurate account processing
• Post received income to client accounts in accordance with required timing and processing procedures
• Perform other duties as assigned

Knowledge, Skills & Abilities Required

• Ability to recognize the critical impact of accurate processing and how it affects downstream processes
• Good analytical and critical thinking skills with ability to solve challenging issues and make decisions
• Ability to communicate with various levels of business partner leadership
• Ability to work independently, prioritize and perform varied assignments with frequent distractions
• Motivated and organized self-starter with strong attention to detail and the ability to manage multiple priorities
• Inquisitive, agile, and good collaborator with good written, verbal, and interpersonal communication skills
• Ability to remain adaptable and resilient to all situations with an optimistic outlook and cast a positive shadow that aligns with our culture and Core Values
• Intermediate level proficiency with Microsoft Word, Excel, Teams, and Outlook

Education & Experience

• Associate’s degree or equivalent combination of education and experience required
• 2+ years of Financial Services Industry related experience with securities knowledge preferred

Hybrid Schedule: In office a minimum of 2 days per week

For individuals applying, assigned and/or hired to work in areas with pay transparency requirements, Commerce is required by law to include a reasonable estimate of the compensation range for some roles. This compensation range is for the Income Specialist - Wealth Operations or Senior Income Specialist - Wealth Operations level job and contemplates a wide range of factors that are considered in determining most appropriate job level and making compensation decisions, including but not limited to location, skill sets, education, relevant experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for any applicable differentials (geographic, bilingual, or shift) that could be associated with the position or where it is filled. At Commerce, compensation decisions are dependent on the facts and circumstances of each situation. A reasonable estimate of the current base pay is $19.00 to $24.50 per hour.

Must be eligible to work in the US without sponsorship now or in the future.

• employer sponsored health
• dental
• vision insurance
• 401(k)
• life insurance
• paid vacation
• paid personal time

In addition, we offer career development, education assistance, and voluntary supplemental benefits.

Location: 922 Walnut St, Kansas City, Missouri 64106

Time Type: Full time

Commerce Bank has been awarded numerous awards for our company culture. We have been included on distinguished lists such as Forbes’ Best Midsized Employers, Forbes’ Best Employers for Women, and Korn Ferry’s Engaged Performance Award. You’ll see the difference for yourself when you join the team.

Equal Opportunity Employer

Commerce Bank is proud to be an Equal Employment Opportunity employer and believes that every individual should have the opportunity to work at a job for which he, she or they qualifies. We celebrate diversity and do not discriminate based on race, color, ancestry, ethnicity, gender identity, gender expression, sex, sexual orientation, disability (including physical or mental handicap), age, veteran status, military status, national origin, religion, pregnancy status, marital status, genetic information, or any other status protected by applicable federal, state or local law.