Operations Specialist, Trust Accounting & Reconciliation

Fiduciary Trust Company; Boston (MA); On-site; USD 70,000 - 95,000; Full time

Benefits offered by this job

Annual discretionary bonus

Job summary

Fiduciary Trust Company is seeking an detail-oriented Trust Accounting & Reconciliation Specialist to support consolidated trust accounting for externally custodied assets. You will own cash balancing, interposing with custodians, and driving exception resolution while maintaining strong controls.

The role emphasizes fast issue resolution, root-cause analysis, and collaboration across Operations, Custodians and partners to deliver accurate accounting and timely client outcomes.

Qualifications

• Bachelor’s degree in Finance, Accounting, Business, or a related field.
• 2–4 years of experience in wealth management or investment operations focusing on reconciliation and exception clearing.
• Strong analytical and problem-solving skills with exceptional attention to detail.
• Proficiency in Microsoft Excel (lookups, pivot tables, data analysis).
• Clear, professional communication with stakeholders; ability to learn new applications quickly.

Responsibilities

• Review aging reconciliation reports and validate exceptions.
• Own daily, weekly, and monthly cash balancing and reconciliation of externally custodied trust accounts.
• Drive timely clearance of exceptions across teams to remove blockers.
• Oversee principal and income accounting for external trust assets.
• Identify discrepancies between company records and external statements and investigate outstanding items.
• Provide regular status updates and escalate risks, aged items, and trends.
• Support the transition and stabilization of the reconciliation workstream and document processes.
• Identify root causes of recurring breaks and recommend process or control improvements.
• Leverage AI-enabled tools, data analytics, and automation to improve exception management and reporting.
• Prepare and maintain detailed reconciliation reports and maintain internal controls and audit requirements.
• Collaborate with operations, custodians, and third party providers for inquiries.
• Contribute to positive client outcomes by ensuring accurate, timely, and well-controlled operations.
• Ensure access to all required data via data feeds and online access.

Skills

Analytical thinking

Attention to detail

Time management

Communication

Excel proficiency

Problem-solving

Learning agility

Data analytics

Education

Bachelor’s degree in Finance, Accounting, Business, or a related field

Tools

Microsoft Excel

AI tooling familiarity

Data analytics tools

Job description

We’re looking for a detail-driven operations professional to join our Business Solutions team as a key contributor to our reconciliation and exception-clearing function. The Trust Accounting & Reconciliation Specialist will be responsible for facilitating consolidated trust accounting for externally custodied trust assets. This role will help own the transition, stabilization, and continuous improvement of a critical workstream including cash balancing and reporting, principal and income accounting, interfacing with external custodians and channel partners, and working with internal trust professionals to ensure accurate accounting. The ideal candidate will have experience working with a sense of urgency and within a controls-focused environment where accuracy, accountability, and timely resolution matter every day.

The Trust Accounting & Reconciliation Specialist will be expected to dig into breaks, tracing them to their root cause, and driving them to closure and ultimately have a visible impact on client outcomes and operational integrity.

Primary Responsibilities

• Review aging reconciliation reports to ensure exceptions are properly validated and prioritized
• Own daily, weekly, and monthly fiduciary cash balancing and reconciliation of externally custodied trust accounts
• Drive timely clearance of exceptions, working across teams to remove blockers
• Oversee principal and income accounting for external trust assets
• Identify and resolve discrepancies between company records and external statements and investigate outstanding items, ensuring accurate and complete reconciliation
• Provide regular status updates to internal parties and escalate risks, aged items, and trends as needed
• Support the transition and stabilization of the reconciliation workstream, documenting processes and ensuring knowledge is retained
• Identify root causes of recurring breaks and recommend process, workflow, or control improvements
• Leverage AI-enabled tools, data analytics, and automation solutions to improve exception management, reporting, productivity as well as conduct ad-hoc analysis of systems and databases
• Prepare and maintain detailed reconciliation reports, documentation and maintain strong adherence to internal controls, policies, and audit requirements
• Work with cross-functional partners including operations, custodians, and third party providers for inquiries from partners
• Contribute to positive client outcomes by ensuring accurate, timely, and well-controlled operations
• Ensure access to all required data via data feeds and online access.

Required Skills and Characteristics

• Bachelor’s degree in Finance, Accounting, Business, or a related field
• 2-4 years of experience in wealth management or investment operations, with a focus on reconciliation and exception clearing
• Strong analytical and problem-solving skills with exceptional attention to detail
• Proficiency in Microsoft Office, especially Excel (e.g., lookups, pivot tables, data analysis)
• Excellent time management and the ability to prioritize competing deadlines while working with a sense of urgency
• A demonstrated ability to learn new applications, processes, and areas of the business quickly
• Clear, professional communication skills, with comfort following up with and escalating to stakeholders
• Familiarity with using AI tools to support reconciliation or operational processes
• Comfort working in a controls-focused, deadline-driven environment

Preferred Qualifications

• Experience with GlobalPlus and/or FIS platforms
• Exposure to process improvement, automation, or workflow transformation initiatives

Compensation Information: Annual base salary for this role is $70,000 - $95,000 based on experience and qualifications. This role may also be eligible to receive an annual discretionary bonus.