Position Summary:
The Operations Associate role will report to the Director Operations supporting the operations group in the daily administration and trading of discretionary and non-discretionary client accounts and general operational functions and administration. The individual in the role will be expected to be proactive and work in a collaborative team environment.
Primary Responsibilities
- Data integrity functions (beginning of day process):
- Updating security prices for discretionary positions with the Order Management System (OMS)
- Confirming start-of-day positions
- Reconciliation of assets between the OMS and custodial platforms
- Run beginning of day reconciliation processes
- Reconciling and confirming cash balances
- Researching position breaks with daily position and cash reconciliation and other discrepancies. Determine the cause of the break and method of correction
- Sending daily cash reports to the portfolio management team as needed
- Drafting/reviewing trade directives and cash transfer directives, including wire directives, for executing transactions and money movements for discretionary and non-discretionary accounts
- Completing manager subscription and funding documents for discretionary client’s investment into fund accounts
- Work directly with the technology platforms for discretionary accounts. This includes the OMS, custodial platforms, and other systems as needed.
- Provide input on the continued development and process improvement of all facets of the discretionary account offering, including ways to better utilize current technology and integrate new systems into the current process
- Send end of day trading file to the custodian(s) for settlement
- Submit trade allocation file to the broker(s)
- Confirm all trades settled correctly on settlement date
- Non-discretionary support:
- Review of consultant generated trade packet material for accuracy. Sending trade packet material to appropriate parties for execution.
- Provide specific manager funding and operational support to consultant teams.
- Operational Due Diligence (ODD) reviews:
- Write the initial assessment of a manager review in the ODD process
- Gather documentation for the review
- Follow up with the manager as needed
- Review and monitor the Firm’s ODD process to identify possible areas of improvement and steps to implement improvements
Required Qualifications:
- Minimum of 1-3 years related work experience in investment operations and/or a trading group (Relevant internship experience will be considered)
- Proficiency in Microsoft Office Suite, Adobe Acrobat, and Smartsheet
- Experience with Bloomberg AIM and Compliance modules
Skills and Competencies:
- Organization, Prioritization & Time Management
- Analytical Thinking & Creative Problem Solving
- Judgment, Accuracy & Process Orientation
- Accountability, Credibility & Dependability
- Team Orientation & Courteous/Helpful Communication
Compensation Range:
$90,000 - $105,000
