Operations Manager Corporate Trust

Job description

Job Summary

Manages various segments of Trust Operations, overseeing operational aspects to include systems supporting those functions, and administrative services performed by those departments. Partners with the Trust division leadership team on financial and strategic business issues, and long range planning. Responsible for ensuring the maintenance and/or development of proper internal controls for the types and volume of business transacted by the departments they oversee.

Ensures the most effective and efficient process workflows are employed and maintained, to ensure prompt and seamless service and support to both internal and external clients.

Job Duties and Responsibilities

Consults with the Director of Operations to develop, plan and implement department goals and initiatives. Oversees the effective and efficient execution of the departments operation and tactical plans. Plans and coordinates the department's projects, directs workflow to ensure adherence to regulatory and firm guidelines, SOPs, and ensures successful completion in accordance with established timelines. Responsible for the effective and efficient performance of one or more of the following Trust Operations functions: trust accounting, cash movement/reconcilement, asset movement, investment operations, tax, middle office, and trust data.

Trust Accounting, Cash Reconcilement, Asset Movement

Manages processing of securities purchases and sales, cash reconcilement for all Trust operational accounts, asset maintenance, coordination of securities receipts and deliveries, asset pricing, dividend and interest collections.

Investment Operations

Manages all trading and settlement functions including trading assets. Generates reports and performance verifications. Works with outsourcing provider to ensure all trades are settled in a timely and efficient manner.

Middle Office

Manages account set-up and closing, statement production, disbursements, and all system maintenance.

Trust Data and Business Analytics

Manages and oversees the data maintained in the core trust system and other ancillary systems including data flow, accuracy, reporting and information risk and resiliency. Manages Trust data maintained on the firm intranet site.

Tax

Manages the production of all tax reporting including production of 1099's and tax worksheets for use in preparing fiduciary returns for the firm. Works with accounting firms to ensure all returns are prepared and filed in a timely manner. Responds to all IRS notices issued to Trust. Consults with the Trust division management and other functional teams to ensure the services provided by their areas of responsibilities meet their needs and to solicit feedback on additional services and support that may be required.

Manages the business risk for their areas of responsibility to include developing and implementing plans for disaster recovery/business continuity including identifying methods to be used in performing risk and business impact analyses on those respective areas. Provides exceptional client service to internal and external clients. Ensures services provided are efficient and cost effective, while adding value. Establishes high client service standards, removing any barriers that might stand in the way of that delivery.

Works with department personnel to resolve service issues in a timely manner ensuring adherence to standards. Negotiates with various trust support service business partners and consultants regarding pricing for consultative services, system enhancements, subscriptions. Ensures the services provided meet the business needs and flexibility of the trust organization. Oversees compliance with all policies and procedures team memberd with their respective areas of responsibility including development, implementation, and management of day to day activities to ensure adherence to all policies and procedures.

Stays abreast of legislation, regulatory rulings, firm changes, and market trends. Manages the annual performance management and merit processes for direct and indirect reports. Coaches and develops team members and builds a work environment where team members are engaged and feel a positive sense of achievement about their role in the firm. Works closely with Human Resources regarding employee relations, compensation, training, posting and filling vacant positions and other Human Resources related matters.

Each team member is expected to be aware of risk within their functional area. This includes observing all policies, procedures, laws, regulations and risk limits specific to their role. Additionally, they should raise and report known or suspected violations to the appropriate Firm authority in a timely fashion. Performs other related duties as required. The information on this description has been designed to indicate the general nature and level of work performed by employees within this classification.

It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job Pinnacle is an Equal Opportunity Employer committed to fostering an inclusive work environment.

Minimum Education

Bachelor's degree in Finance, Economics or a related discipline or an equivalent combination of education and experience.

Minimum Experience

8 years of experience in securities processing, income collections, data processing systems, collective investing, fund accounting and/or cost accounting; and experience managing projects that cross organizational lines Regular office environment; Required Knowledge, Skills & Abilities: May sit for long periods of time; Talk and hear regularly; Use of hands, ability to reach; Ability to see objects up close or at a distance, use peripheral vision, identify basic colors; Up to 10 pounds weight lifting/force exertion required; Weight/force exertion required less than 10% of the time; Travel required less than 10% of the time.

Preferred Knowledge, Skills, & Abilities

Bank or Trust operational experience Supervisory experience Series 7 certification