What are the responsibilities and job description for the Trust & Custody Account Associate position at Silicon Valley Bank?
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Job Description
Job Summary:
Reporting to the Operations Manager, the Trust & Custody Account Associate will provide day-to-day ongoing operational support for the Trust & Fiduciary Services division of Silicon Valley Bank (SVB). The Trust & Fiduciary Services business is a division of SVB providing comprehensive fiduciary, advisory, and custody services to high-net worth individuals, families, foundations, and institutions. The Trust & Custody Account Associate is responsible for supporting new and existing client relationship activities by handling operational tasks and activities within the functions they are responsible for executing, e.g. asset servicing, asset movement, account opening and maintenance.
Responsibilities, Duties, and Accountabilities:
- Provide account information to client advisors and maintain tracking records within the CRM system.
- Interface with various internal levels of custody partners to ensure accurate and timely processing of tasks as needed.
- General account maintenance activities, e.g. coding for maintenance, investment objectives, relationship teams.
- Monitor and escalate custodial alerts, e.g. cash disbursement issues, account issues.
- Monitor transfer of incoming or outgoing assets, e.g. free asset transfer using ACAT and Non-ACAT, cash settlement, income collection.
- Trade reconciliation and support e.g. rejects, reversals, security set-up, proxy voting.
- Asset servicing experience, e.g. pricing, miscellaneous assets such as promissory notes, mortgages, liabilities, and alternative assets (SMAs), security movement and control, corporate actions, cost basis custody updates.
- Reconciliation functions for various house and general ledger accounts.
- Proactively resolve client facing teams’ operational issues and concerns.
- Assess and process client instructions as provided by client facing team.
- Utilize software and programs necessary for execution of job duties to maintain up-to-date knowledge and adhere to all operational procedures.
- Various duties such as generating forms, creation of spreadsheets and tracking documentation, and ad hoc reporting.
- Compliance with all firm and industry rules, regulations and/or policies.
Qualifications:
- Bachelor’s degree preferred or equivalent work experience.
- Experience with SalesForce and SEI products, Trust3000, SWP, etc. highly desirable.
- 1-3 years relevant experience in trust and custody operational services, e.g. asset/cash reconciliation role within financial services – custody operations, trust company, integrated financial services firm, or investment management firm.
- Team mindset demonstrated through consistent behaviors and strong inter-personal communication skills with peers, management, and external parties.
- Proven problem solving ability exemplified by strong interpersonal and organizational skills.
- Strong computer skills and experience with software products, e.g. Microsoft Office.
- Experience with custodial platforms and CRM systems is a must.
© 2021 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq:
SIVB
).
Equal Employment Opportunity
Silicon Valley Bank is an equal opportunity employer and is dedicated to expanding its commitments and investments to create a more diverse, equitable and inclusive company culture and innovation ecosystem. We are strongly committed to the values and policy of equal employment opportunity across our employment practices.
Silicon Valley Bank is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
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