Wealth Management Operations Associate

Division:             Asset Management                                                                                                          

Department:       Wealth Management Admin                                                

Reports to:         VP, Wealth Management Operations

Status:                Non-Exempt

Grade:                 7

Salary Range:     $20.50 - $35.99

Actual compensation within the pay range will be decided based on factors including, but not limited to, skills, prior relevant experience, and specific work location.

Location:             Lenox, MA - 25 Main St                                                                             

 

 

Purpose/Objective:

 

Under the direction of the VP, Wealth Management Operations, provides confidential operational support to a growing Wealth Management Department. This individual will assist the Wealth Management team in providing back-office support to our internal and external clients.  Timely and accurate processing of cash transactions and account maintenance is core to this role.  Individual is expected to adhere to internal controls and to escalate issues when appropriate. 

 

Key Accountabilities:

 

• Provides support to clients and co-workers in processing cash disbursements from customer accounts, including paying client bills, deposits/payments to various banks; processes incoming/outgoing wire transfers. Individual will be responsible for processing incoming/outgoing wire and ACH transfers.   Verifies sufficient liquidity in client accounts to cover disbursements. 
• Assists Wealth Advisors by maintaining existing accounts on our accounting platform, retaining appropriate support in electronic records, and maintaining various databases. Individual will perform duties associated with opening or closing accounts including, but not limited to, establishing fees or assessing final fees, adding or removing ticklers, establishing fields or removing account(s) from system.
• Supports clients with setting up online access and addressing access issues.
• Handles customer inquiries in a timely and professional manor. Ensure inquiries are resolved to meet client expectations. 
• Provide operational support services for the Berkshire cash sweep program. Monitors and tracks opt outs, disclosures, and interest rate changes for the cash sweep program. Handles customer inquiries pertaining to the cash sweep program and resolves issues as needed.
• Assists management with departmental compliance issues, projects, and assignments. Serve as a backup and support to other areas of the wealth operations.
• Performs other duties as necessary to ensure customer service excellence and smooth operations of the department.
• Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards related to and required by one’s duties.

 

Education:

 

• High school diploma or equivalent
• College degree a plus

 

Experience:

 

• 3+ years’ administrative support, preferably in financial service industry
• Basic accounting experience

 

Skills & Knowledge:

 

• Technology proficiency, including Microsoft Office Suite, particularly Word and Excel, with some ability to leverage formulas, templates, and data tools to improve efficiency
• Excellent written/verbal communication skills; ability to compose correspondence and reports
• Excellent organizational skills and the ability to handle multiple tasks with professionalism and accuracy
• Strong math skills and understanding of basic accounting principles preferred
• High attention to detail and commitment to accuracy, particularly in data entry, reconcil