Reconciliation Analyst

Dynasty Financial Partners; Saint Petersburg (FL); On-site; USD 65,000 - 90,000; Full time

Benefits offered by this job

Health Insurance

Dental insurance

Vision insurance

Retirement plan 401(k)

401(k) matching

Paid Time Off

FSA/HSA benefits plans

Disability benefits

Voluntary Life Insurance

Basic Life Insurance

Job summary

Dynasty Financial Partners is seeking a Senior Associate, Reconciliation Analyst to join our in-office team in downtown St. Petersburg, FL.

You will work with sophisticated independent advisor clients and collaborate with Finance, Operations, and Technology to ensure accurate and timely reconciliations and billing activities. Responsibilities include managing monthly data, assisting with house account reconciliation, coordinating payouts to Network Partners, and driving improvements in processes

Qualifications

• Bachelor’s degree; 2+ years in wealth management or reconciliation.
• Experience with reconciliation tools and data analysis.
• Strong written and verbal communication.

Responsibilities

• Coordinate with Finance, Operations and Technology to support reconciliation workflows.
• Assist with house account reconciliation and payout processes.
• Manage data monthly/quarterly per billing practices.
• Serve as SME with clients to deliver AR activity.
• Analyze records for manual fee calculations and pricing exceptions.
• Support manager in developing reconciliation capabilities and testing.
• Prepare and monitor workflows like Firm Fee Invoices and Reporting Only Fees.
• Flag root causes and drive process improvements.

Skills

Analytical thinking

Communication skills

Entrepreneurial mindset

Client engagement

Time management

Education

Bachelor’s degree

Tools

Excel

PowerBI

Sharepoint

Salesforce

Schwab

Fidelity

Goldman Sachs

Pershing

Job description

Description

We are seeking a motivated, self-starting individual to join our firm as a Senior Associate, Reconciliation Analyst. You will actively engage with sophisticated independent financial advisor clients, collaborate across the business with members of the Dynasty team, and partner with external resource partners and agencies. This role will report directly to Dynasty’s VP of Reconciliation and is an in-office position in downtown St. Petersburg, Florida.

Responsibilities:

• Partner internally with other Dynasty departments including Finance, Operations, and Technology, as well as others to ensure ongoing support and integration:
• Coordinate with Finance team on key deliverables such as house account reconciliation, reporting only invoices, payout to Network Partners, etc.
• Assist with debiting and crediting fees at custodians and coordinates with Billing and Finance departments on Network Partner payout
• Manage, track, and optimize appropriate data on a monthly/quarterly basis in accordance with billing practices
• Work directly with Dynasty team members and our clients as a subject matter expert to ensure the delivery of Operational accounts receivable activity
• Assists in compiling and analyzing records between Billing and Finance for manual fee calculations and pricing exceptions that cannot be handled by our billing system
• Able to demonstrate accounting expertise and decision-making ability while being able to work under pressure and have time consciousness
• Partner with manager on the development of the reconciliation role needed to conduct complex reconciliations on cash and equivalent accounts with ongoing testing and optimization, as needed
• Responsible for the following workflows and items:
• Firm Fee Invoices (tracking true ups with Finance, % of revenue, breakpoint updates, MQF, etc.)
• Reporting Only Fees (waivers, Black Diamond, Addepar, etc.)
• Manual Entry tracking (coordinating period ending balances with NPs)
• Carries out the required procedures involving the manager fee collection and payment process
• Participate and drive expectations in root cause analysis to correct and/or prevent deviations in processes and workflows. Recommend and implement changes to avoid future occurrences.

Requirements

• Bachelor’s degree with 2+ years of experience, preferably at a wealth management firm
• Familiar with various reconciliation tools, including but not limited to Excel, PowerBI, Sharepoint, Salesforce, and custodians such as Schwab, Fidelity, Goldman Sachs and Pershing
• This role is an in-office position in downtown St. Petersburg, Florida
• Entrepreneurial mindset – Ability to adapt and innovate in a fast-paced environment
• Client experience – Ability to consult internal and external clients
• Strong quantitative and analytical skills – You can detect and translate a story behind numbers and data
• Excellent verbal and written communication skills – You can translate and present complicated ideas in a simple, easy to understand yet inspirational/creative style
• Exceptional critical thinking and problem-solving abilities – Ability to think unconventionally in proposing potential solutions or opportunities to issues
• Strong attention to detail to ensure quality standards are met without impairing workflow.

Successful candidates will:

• Act with an entrepreneurial spirit and a willingness to show initiative
• Manage multiple priorities and deliver results with minimal oversight
• Be willing to work hands-on and deliver against the outputs of strategic Operations initiatives and programs
• Be comfortable working and thriving in a demanding and fast-paced environment
• Be a culture carrier and adopt Dynasty’s culture of accountability, fairness, teamwork, and transparency
• Successful candidates showcase duties like preparing and maintaining spreadsheets at the custodians, monitoring house account activities, preparing finance templates, tracking KPIs, and correcting issues with previous month’s reconciliations (custodial files, rejections, manager fees, and reporting only calculations).

At Dynasty, our Diversity and Inclusion Mission is to actively encourage and support the inclusion and acceptance of diverse backgrounds, ideas, and beliefs by embracing our commonalities and respecting and appreciating the differences among us. We believe in promoting success for our employees and clients by providing all persons with opportunities and a voice to achieve their full potential as organizational goals are pursued.

EQUAL EMPLOYMENT OPPORTUNITY

BENEFITS

• Health Insurance
• Dental insurance
• Vision insurance
• Retirement plan 401(k)
• 401(k) matching
• Paid Time Off
• FSA/HSA benefits plans
• Disability benefits
• Voluntary Life Insurance
• Basic Life Insurance