Custody Operations Associate

Kelmar Associates•Wakefield, MA

6d•$50,000 - $52,000•Remote

About The Position

The Custody Operations Associate is an Entry Level position who will work closely with Kelmar’s Security Operations team, sub-custodian, and clients to execute instructions, reconcile transactions in the sub-custodian account and ensure all transactions are properly reflected in the client’s unclaimed property database. This is a remote position.

Requirements

Bachelor’s Degree or equivalent combination of education and experience; willing to train the right candidate
Excellent interpersonal and communication skills; will be communicating with external clients
Comfortable with a wide variety of technologies including MS Office, MS Windows, and other types of general computer software
Strong writing and analytical skills
Must be able to work independently learning the expected results from the management team and the ability to execute daily tasks on behalf of clients
Self-starter, since this position is remote it is reliant on the Custody Operations Associate to complete daily tasks
Must be detailed oriented as daily, weekly, and monthly reconcilements of data will be required
Candidates must be legally authorized to work in the U.S without sponsorship now and in the future

Responsibilities

Perform daily reconciliation of each client account held by the sub-custodian to their unclaimed property database
Review and transfer accounts held at mutual fund companies, brokerage firms, and transfer agents to State’s custodial account; maintain detailed tracking of funds transferred
Receive instructions from clients and their unclaimed property database regarding selling and/or transferring shares; execute transactions as instructed using the sub-custodians
Perform manual updates to the clients unclaimed property database as necessary including: transfers, sale proceeds, corporation actions, liquidations, capital gains and dividends
Identify and properly report discrepancies to Custody Operations Manager
Ensure security type designations such as mutual funds and common stock are properly identified in the unclaimed property database
Perform research for clients related to corporate actions and individual CUSIP histories; record and provide entitlement calculations upon request
Assist with testing changes to workflows, documents and batch processes as needed
Perform quarterly reconciliation of accounts to ensure worthless securities are identified and updated in the clients unclaimed property database
Communicate with clients regarding a variety of account activities including incoming receipts, corporate actions, worthless securities, un-exchangeable securities, security transfer issues, sale proceeds and status, and any other relevant issues that arise
Assist with special projects when new clients have been onboarded