Job ID: 9823
Location: Tulsa, Oklahoma
Category: Accounting & Finance
Employment Type: Contract
Job Description
Location: Tulsa, OK
Description
The Securities Services Operations Specialist I is primarily responsible for all transactional processing supporting Wealth Management accounts on the trust accounting system including setting up and maintenance of securities, transactional processing, trade execution and settlement, foreign currency exchange, valuations and reconciliations. This position works closely with account officers within Wealth Management and Operations & Technology, Risk, Compliance and Audit departments, external depository’s, vendors and brokers to ensure that client accounts are reflected accurately for performance and reporting requirements.
PRINCIPAL DUTIES AND RESPONSIBILITIES:
Majority of duties performed, but not meant to be all-inclusive nor prevent other duties from being assigned as necessary. Non-essential functions identified with an asterisk '*'
Typical duties performed may include all of the following or only a few of the duties listed. Percentages will vary depending upon utilization within the department.
- Ensures all security transactions and daily processes are completed timely, accurately and within the policy guidelines. Balances and reconciles daily activity between depositories and the trust accounting system resolving discrepancies to prevent financial losses and negative impact. Ensures accurate and timely movement of funds between domestic and international depositories and institutions. Develops, implements, and utilizes process improvement while maintaining strong controls to mitigate risk to the bank and clients. 45%
- Applies knowledge of securities processing and Wealth Management, utilizes interpretive skills, process management tools, and systems to continually define, visualize, measure, analyze, improve, report, and control processes with the goal to meet internal and external customer and regulatory requirements. This includes writing and refining procedures that can be easily followed by other members of the team for transactional processing and reporting. 30%
- Resolves complex issues timely to minimize losses to the bank and/or client; provides support to auditors, compliance, account officers, investment managers, WMS management and support personnel; provides resolution of complex discrepancies involving reconciliation between various Wealth Management accounting systems and third party vendors. Recommends procedures, alternatives and options for securities processing; participates in conference calls for trust account conversions, user group meetings and provides input regarding project requirements and process improvements. 10%
- Tests and documents reports necessary to support day-to-day operations and longer term strategic decisions. Provides input related to requirements development and programming through ongoing maintenance and modification. 10%
- Works proactively among the groups to identify solutions or resources to complete any project and/or exception processing. 5%
Minimum education, experience, technical and communication skill levels and licenses/certificates normally required to perform the duties of this position
- Advanced PC and operating software application skills.
- Excellent research, analytical, and organizational skills; ability to plan and coordinate movement of large volumes of transactions.
- Must demonstrate previous experience independently solving complex problems, identifying appropriate resources while meeting extremely stringent deadlines.
- Excellent communication and interpersonal skills, leadership ability, social and professional etiquette, including oral and written communication skills.
- Ability to communicate information clearly and concisely.
- Ability to gain consensus among parties with conflicting interests.
- Working knowledge of a broad variety of securities and Wealth Management accounting systems.
- Working knowledge of accounting principles and practices with emphasis in reconciliation and detail-oriented tasks in a high-volume environment.
- A general understanding of trust accounting knowledge is preferable.
- Ability to improve efficiency, track complex activities and improve methodology.
- This level of knowledge is normally acquired through completion of a Bachelor’s Degree in Accounting or Finance and 1-4 years of directly related experience in a high volume securities operations environment or equivalent combination of education and experience.
Typical working conditions associated with this type of work and environmental hazards, if any, that may be encountered in performing the duties of this position.
Work is normally performed in a climate controlled office environment, where exposure to conditions of extreme heat/cold, poor ventilation, fumes and gases is very limited. Noise level is moderate and includes sounds of a normal office environment. No environmental hazards are encountered in performance of normal job duties.
PHYSICAL DEMANDS
The physical effort generally associated with this position.
Work normally requires finger dexterity and eye-hand coordination to operate computer keyboard at moderate skill level. Work may require occasional pushing, pulling, or carrying 20-pound objects such as files, documents, and notebook PC/LCD projector. Work involves sitting most of the time, but may involve standing and walking for brief periods of time. Each of the physical demands listed herein may be met with an effective and reasonable equivalent.
WORKING RELATIONSHIPS/CONTACTS
Positions, other than supervisor and immediate co-workers, with which incumbent have frequent contact and the reason for contact.
- Internal – Daily contact with employees and management within the Wealth Management and Operations and Technology divisions; daily contact with support personnel to explain policy and procedures, train and counsel; frequent contact with bank management, investment officers, account officers and other bank departments to resolve complex problems or coordinate cross functional improvements.
- External – Occasional contact with depositories, vendors, banking institutions, regulatory agencies, and wealth management clients to resolve issues and/or provide education with respect to processes or key technology solutions.
- Supervision of Others – None
Budget/asset amount managed, revenues/profits produced, and/or other financial resources incumbent is accountable for. Also indicates judgment/decision-making level.
This position shares responsibility for Securities Services processing with an annual trading volume in the trillions, an average of over 5,000 trades per day and custody of more than $76 billion in assets. This position is critical to minimizing losses which have the potential to significantly impact client accounts, financial results and corporate reputation.
