Custody Operations Associate

Kelmar Associates•Middleton, MA

16h•$50,000 - $52,000•Remote

About The Position

The Custody Operations Associate is an entry-level, remote position working closely with Kelmar’s Security Operations team, sub-custodian, and clients. The role executes client instructions, reconciles transactions in sub-custodian accounts, and ensures transactions are accurately reflected in clients’ unclaimed property databases. Kelmar provides training and opportunities for career advancement.

Requirements

Bachelor’s degree or an equivalent combination of education and experience; the employer is willing to train the right candidate.
Excellent interpersonal and communication skills, including the ability to communicate with external clients.
Comfort with MS Office, MS Windows, and other general computer software.
Strong writing and analytical skills.
Ability to work independently, learn expected results from the management team, and execute daily tasks on behalf of clients.
Self-starter who can complete daily tasks in a remote role.
Detail-oriented, with the ability to perform daily, weekly, and monthly reconciliations of data.
Must be legally authorized to work in the U.S. without sponsorship now or in the future.

Responsibilities

Perform daily reconciliations of each client account held by the sub-custodian against the client’s unclaimed property database.
Review and transfer accounts from mutual fund companies, brokerage firms, and transfer agents to the State’s custodial account, maintaining detailed tracking of transferred funds.
Receive client and database instructions to sell or transfer shares, and execute transactions through the sub-custodians.
Make manual updates to clients’ unclaimed property databases as needed, including transfers, sale proceeds, corporate actions, liquidations, capital gains, and dividends.
Identify discrepancies and report them appropriately to the Custody Operations Manager.
Ensure security types, such as mutual funds and common stock, are properly designated in the unclaimed property database.
Research corporate actions and individual CUSIP histories for clients; record and provide entitlement calculations upon request.
Assist with testing changes to workflows, documents, and batch processes.
Perform quarterly account reconciliations to identify worthless securities and update clients’ unclaimed property databases.
Communicate with clients about account activities, including incoming receipts, corporate actions, worthless securities, un-exchangeable securities, security transfer issues, sale proceeds, transaction status, and other relevant matters.
Assist with special projects when new clients are onboarded.