Banking Services Operations Associate IV - Trust Processing & Research - SMAC (Hybrid)

M&T Bank•Amherst, NY

4d•$21 - $34•Hybrid

About The Position

Overview: Provides operational support to the WISD (Wealth & Institutional Services Division) and its’ clients including, but not limited to, posting, maintaining and processing asset, cash and security related transactions. Processes account balancing as well as other various tasks on a regular basis. Ensures activities comply with pertinent internal policies and external regulations. Works remotely to support Wilmington line of business as required by circumstance. Primary Responsibilities: Resolve problems with transactions by communicating directly with internal Financial Advisors, Investment Managers and third parties. Work with Middle and Front Office to resolve problems with requests submitted. Balance, report, and research all exception items that settle through various depositories, general ledger and house accounts. Process and record specific types of transactions relating to investment cash and assets amongst accounts according to applicable policies and procedures. Monitor the group mailbox for incoming work and inquiries. Complete independent verification of transactional activity processed by other team members to ensure accuracy. Support and recommend the implementation of process improvements for the area. Interpret data received from internal and external parties to process moderately complex transactions with a sense of urgency. Identify and report all risk and compliance issues, breaches and suspicious activities to management. Prioritize and manage own workload to meet service level agreements and internal service delivery standards. Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite. Identify risk-related issues needing escalation to management. Promote an environment that supports belonging and reflects the M&T Bank brand. Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable. Complete other related duties as assigned. Scope of Responsibilities: SMAC PROCESSING: The Security Movement and Control unit within Trust & Investment Services is responsible for providing operational support to the Wealth and Institutional Services Division (WISD) of M&T Bank/Wilmington Trust. The team provides support by processing highly specialized transactions that may be specific to the position. Trade processing responsibilities include entering already executed trades into the accounting system based on instructions received from authorized outside investment managers, preparing and distributing failed trade reports, researching trade discrepancies and resolving failed trades. The securities processed by this team include equities, fixed income and mortgage backed. This position frequently communicates with investment managers and front office staff, as well as other members of Trust & Investment Services. This position requires a basic to mid-level knowledge and understanding of the various securities types and their processing characteristics. SMAC SETTLEMENT: The Security Movement and Control unit within Trust & Investment Services is responsible for providing operational support to the Wealth and Institutional Services Division (WISD) of M&T Bank/Wilmington Trust. The team provides support by processing highly specialized transactions that may be specific to the position. Trade settlement responsibilities include entering executed trades into the Federal Reserve system to settle delivery versus payment trades, recording trade settlements on the accounting system, balancing cash and security movements and offsetting trade activity to the appropriate general ledger accounts. This team is also responsible for trading money market funds for client sweep, as well as acting in a liaison capacity with the firm’s mutual fund service provider to ensure accurate settlements and assist with inquiries from the front office. Daily trade settlements can exceed $1 billion. This team maintains constant communications with other members of Trust & Investment Services and frequently with the front office. This position requires a basic to mid-level knowledge and understanding of the various securities types and methods of settlement.

Requirements

Associate’s degree and a minimum of 1 years’ general work experience, or in lieu of a degree, a combined minimum of 3 years’ higher education and/or work experience
Effective communication skills
Detail-oriented
Good organizational skills
Strong mathematical skills
Knowledge of pertinent spreadsheet and word processing software

Nice To Haves

Bachelor’s degree in Business, Finance or Accounting
Minimum of 2 years’ securities industry experience
Knowledge of Trust accounting systems
Knowledge of accounting principles as needed by job
Knowledge of pertinent Bank systems
Ability to work under time constraints

Responsibilities

Resolve problems with transactions by communicating directly with internal Financial Advisors, Investment Managers and third parties.
Work with Middle and Front Office to resolve problems with requests submitted.
Balance, report, and research all exception items that settle through various depositories, general ledger and house accounts.
Process and record specific types of transactions relating to investment cash and assets amongst accounts according to applicable policies and procedures.
Monitor the group mailbox for incoming work and inquiries.
Complete independent verification of transactional activity processed by other team members to ensure accuracy.
Support and recommend the implementation of process improvements for the area.
Interpret data received from internal and external parties to process moderately complex transactions with a sense of urgency.
Identify and report all risk and compliance issues, breaches and suspicious activities to management.
Prioritize and manage own workload to meet service level agreements and internal service delivery standards.
Understand and adhere to the Company’s risk and regulatory standards, policies and controls in accordance with the Company’s Risk Appetite.
Identify risk-related issues needing escalation to management.
Promote an environment that supports belonging and reflects the M&T Bank brand.
Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
Complete other related duties as assigned.

Benefits

As an employer of choice, we are proud to offer competitive benefits ranging from medical and retirement to forty hours of paid volunteer time, each year.

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