POSITION OVERVIEW:
Manages the Operations team and the back-office processes that support Beacon Trust client relationships Resolves complex service and operational issues, acting as senior point person for escalations. Ensures high-quality, consistent service for all clients by aligning operations staff with relationship teams and establishing clear service standards, turnaround times and accountability for client requests. Continuously improves processes, procedures, controls and technology related to service delivery and operations. Acts as primary liaison between Beacon Trust and custodians, including Charles Schwab, Fidelity, Pershing and others.
Responsible for handling daily administration of client financial accounts by initiating a range of account activity, monitoring account records to ensure accuracy and completeness, and responding to client inquiries. Serves as the operations partner to relationship managers, associate relationship managers, business development, portfolio managers, and other departments to coordinate all services assigned to accounts. Continuously monitors work processes to ensure completeness, accuracy and conformance to established service levels and applicable procedures to ensure client expectations are met
In this position, the individual will own the operational side of the new client onboarding experience, from documentation and account opening through asset transfer and funding, so that each new client has a consistent, well-coordinated first experience with Beacon Trust. Incumbent will oversee the process of opening, renewing and modifying line of credit requests for clients in accordance with Provident Loan Administration. Utilizes wealth management knowledge, experience, and bank resources to identify opportunities for relationship enhancement and to recognize problems and provide solutions.
KEY RESPONSIBILITIES:
- Manage client service / operations team and oversee servicing of client requests. Organize team coverage so that each relationship team has dedicated, accountable operations support, while standardized work is processed efficiently through shared queues. Utilize case management and reporting tools to evaluate efficiency of department. Make recommendations for improvement of department.
- Partner with relationship managers and associate relationship managers to define clear handoffs, intake channels and responsibilities between client-facing and operations staff. Hold regular touchpoints with relationship teams to review open items, upcoming client needs and service feedback.
- Resolve complex service issues. Cross-trains operations team in current or revised policies and procedures to increase their knowledge and productivity.
- Act as point person between Beacon and custodians including Charles Schwab, Fidelity, Pershing and others.
- Manage internal projects related to client service and operations. Partner with relationship managers and associate relationship managers to define clear handoffs, intake channels and responsibilities between client-facing and operations staff. Hold regular touchpoints with relationship teams to review open items, upcoming client needs and service feedback.
- Acts as a role model and provides coaching and training to employee’s to help improve operational performance. Enhance and review current policies, procedures and technology in order to improve operational efficiency through analysis and collaboration with management team.
- Assist with long-term strategic planning including staffing and capacity planning for the operations function.
- Supports internal audits and regulatory examinations.
- Perform other duties as required by position.
- Maintains a general understanding of the roles of other departments – portfolio management, financial planning, tax advisory, and trust administration – so collaboration can easily occur.
- Ensures accounts are opened or closed accurately and promptly, collects and values assets, completes documentation, initiates and coordinates all duties associated with a new or terminated accounts.
- Coordinate services, paperwork, and other needs during onboarding process for new clients. , including participation in client and prospect meetings when operational expertise is needed.
- Initiates proper disbursement of funds as directed. Monitors records and daily activity to ensure they are accurate and complete. Ensure transactions are completed with audit and compliance standards as well as timely execution.
- Responds to internal and external inquiries resolving discrepancies related to accounts. Follows through until corrections are completed.
- Ongoing communication and interactions with clients and prospects via zoom, telephone, email or in person, , including participation in client and prospect meetings when operational expertise is needed.
- Manages the billing and revenue collection process, tracking and reconciliation. Generates and delivers invoices and accurate billing files to clients and custodians. Uses advanced CRM reports to monitor and analyze billing volatility and reviews variances to ensure accurate billing.
- Oversees other recurring, deadline-driven fiduciary and tax processes, including coordination with outside tax preparers and year-end tax reporting, to ensure accuracy and timely completion. Monitors the Required Minimum Distributions (RMD) process and RMD reports, ensuring that all eligible accounts have correct RMDs processed before deadlines established by the IRS.
MINIMUM QUALIFICATIONS:
- BA in Finance, Accounting, Economics, Business Administration or related discipline.
- Relevant 5-7 years of relevant experience in financial services, banking, wealth management, trust or custodial operations, client services or related field, including at least 2 years supervising staff.
- Strong analytical, problem-solving, leadership and decision-making skills are required. Must be able to delegate as needed.
- Strong communications skills (verbal and written), attention to detail, accuracy, ability to multi-task, and effective time management and organizational skills are required. Ability to reasonably estimate the time for tasks and then meet deadlines set by those estimates; ability to quickly and effectively prioritize multiple requests.
- Excellent back-office operational service experience and problem resolution skills required. Strong interpersonal and team skills. Ability to establish relationships and partner effectively with various groups including relationship management, sales, service, planning, and investments. Strong client service orientation and comfort interacting directly with high-net-worth clients and their advisors.
- Working knowledge of investments, tax, fiduciary and operations usually acquired through formal education or related experience is required to service clients.
- Working knowledge of the securities industry, usually acquired through formal training or prior experience, is required to understand and respond to investment issues.
- Working knowledge of Microsoft Excel, Word and PowerPoint is preferable. Proficiency in use of financial portfolio management systems, CRM & custodian tools are mandatory (such Envestnet Tamarac, Advent, Schwab Advisor Center, Wealthscape, Netx360, Salesforce etc.).
- Demonstrated ability to lead a team through change, including new operating models, workflows, automation and AI-assisted tools.
- Personal characteristics such as high energy, detail oriented, discipline and ability to assume responsibility for decisions. Desire to interact with and help end users
- Highly motivated with ability to deal effectively with people in a variety of relationships and situations and work in a team environment.
- In addition to Strong analytical and quantitative and problem solving skills, advanced Microsoft Office skills, primarily Excel and PowerPoint are required. Strong proficiency in spreadsheet applications and use of formulas (such as v- h- lookups) and pivot tables to perform financial analysis.
- Demonstrated integrity and ability to maintain confidentiality
LICENSES AND/OR CERTIFICATES:
- Series 65 required, or must obtain within the first 90 days of hire.
WORKING CONDITIONS
Work is mainly performed in a normal office environment. Noise levels usually are moderate.
- Prolonged sitting
- Lifting from 5 to 10 lbs. (printer paper, storage boxes)
- Occasional bending or overhead lifting (storing files or boxes)
- The hazards are mainly those present in a normal office setting.
This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified when deemed appropriate by management.
Provident Bank, Beacon Trust and /or Provident Protection Plus require consent to conduct a comprehensive background check. This background check will be tailored to the specific requirements of the position for which you are applying. These reviews may include, but are not limited to, items such as:
- Verification of employment
- Verification of educational background and degrees
- Criminal records check
- Civil records check
- Credit history check
- Verification of professional licenses and certifications (if applicable)
- Web CRD records (if applicable)
- Any records related to federal, state, and/or local statutes
- Any records related to Code of Ethics adherence (if applicable)
- Any other records requested in connection with questions on the candidate’s background
The scope of the background check will be determined based on the level and responsibilities of the role. The results of the background check will be used solely to assess suitability for the specified position. Any false information, omissions, or failure to provide consent to undergo these reviews may disqualify a candidate from employment.
Beacon Trust recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.
We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.
Pay Details:
$70,000 - $100,000 annually
Please note, the base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, education, geographic location, internal equity, and other applicable business and organizational needs.
This role is incentive eligible based upon company, business, and/or individual goal achievement and performance.
Team members accrue paid time-off (PTO), receive Holiday (PTO) and are eligible to participate in the bank’s Health and Wellness benefits including Medical, Dental and Vision Plans, Flexible and Health Savings Accounts, and a 401(k) Retirement Plan. In addition, the company provides Disability Insurance, an Employee Assistance Program, and Basic Life Insurance. Company sponsored Tuition Disbursement and Loan Repayment programs are also available. Voluntary benefits include Supplemental Life Insurance, Accident, Critical Illness, Hospital Indemnity and Legal plans.
