Equity Operations Associate (F61435-JD) New York, New York
| Salary: | no bonus |
Equity Ops Associate
Department: Client Accounting – Equity Account Management
Job Summary:
Process the daily accounting function for both institutional and retail equity accounts as well as monthly cash and asset reconciliations. The account load consists of Mutual Funds and Global or Domestic Equity. It is expected that the Associate will proactively participate in the enhancement of workflows and processes to support greater efficiency.
Essential Functions:
- Ensure the integrity of all portfolio accounting data
- Demonstrative knowledge in Equity and derivative securities and their relevant transaction postings on the asset manager’s books.
- Reconcile daily cash balances & resolve failing trades
o Communicate with brokers and custodians
o Understand tri-party relationship between our firm and custodian/prime broker
o Understand prime broker relationship
o Working knowledge of different securities (domestic & int’l equity, short term investments, shorts, swaps & options)
- Understand trade settlement process for all securities
o Understand corporate actions, dividends, reclaims, accruals, FX’s
o Process daily auto asset reconciliation for mutual funds
- Reconcile monthly cash and position data
o Understand monthly reconciliation standards
o Research and resolve reconciliation exceptions
o Utilize Microsoft Excel
o independently researches discrepancies
o Prepare retail POI reports
- Communicate cash flow activity to Cash Management team
o Overdraft monitoring and resolution
- Understand and process and short term investments
o Maintain balances & rates of short-term funds
- Liaison for Portfolio Managers, brokers, and custodians for all accounting issues
Job Requirements and Qualifications:
- Bachelor’s Degree preferably in Economics, Finance or Accounting
- Proficient in MS Excel, with an ability to learn new systems
- 2-5 years of relevant experience
- Highly organized and detail-oriented
- Ability to multi-task and prioritize
- Strong quantitative/analytical skills
- Strong written communication skills; ability to communicate internally (upper management, Portfolio Manager’s or compliance) or external (custodians & brokers)