Supervisor, Income Processing – Wealth Operations

Commerce Bank•Kansas City, MO

6d•$63,500 - $85,000•Onsite

About The Position

The main purpose of this job is to lead and oversee income processing and related operational activities within Wealth Operations. This role ensures work is completed accurately, efficiently, and in compliance with established policies, procedures, and service expectations.

Requirements

Strong knowledge of Trust or security asset types, income processes and depository settlement information
Intermediate knowledge of Automated Customer Account Transaction (ACAT) and free movement standards of various types of securities instruments, marketable and nonmarketable securities, and knowledge of Global Securities processing via industry depositories (DTCC, Federal Reserve, NSCC, State Street, and BNY Mellon)
Ability to collaborate successfully with administrative and portfolio managers to exceed Trust client requirements
Ability to recommend process improvements and recognize project related cross-functional impact
Ability to coach and develop team members with proven experience to build teams within area of influence
Self-starter with strong decision-making skills and the ability to effectively communicate and interact with all levels of the company clearly expressing ideas and concepts both verbally and written
Ability to remain adaptable and resilient in all situations with an optimistic outlook and cast a positive show aligned with our culture and core values
Intermediate level proficiency with Microsoft Word, Excel, Teams, and Outlook
Bachelor’s degree or equivalent combination of education and experience required
3+ years of Trust Operations Experience or equivalent required
2+ years of asset management experience required
1+ year of leadership experience required
Experience in Management Reporting required

Responsibilities

Supervise staff and processes associated with posting of all income related transactions on stocks, bonds, mutual fund, money market funds and non-marketable assets
Supervise free movement activities on behalf of client accounts to ensure assets held by trusts are reflected timely and accurately
Provide services for special assets such as Limited Partnerships (LLP), Limited Liability Company (LLC's), LLP's Private placements, and hedge funds when called upon to process in special circumstances
Monitor and direct daily, weekly, and monthly settlement activity to ensure accurate and efficient processing within the area
Manage liability associated with income processing to reduce monetary risk, reputational risk with high net-worth clients, exposure to large fee losses from Trust clients, and confidence risk with administrators and portfolio managers
Ensure audit and compliance requirements are completed to prevent violations
Develop comprehensive conversion and testing plans and implement new enhancements with zero defects
Oversee department workflow and effectively communicate decisions, priorities and relevant information to team members
Provide guidance to team members on departmental projects/issues, coach and develop training plans, lead development conversations and answer day-to-day questions for team members
Perform other duties as assigned