Sr Manager, Personal Trust Operations

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Job ID:
0613-34589
Job Category:
Banking
Relevant Work Experience:
Project Management-2-5 yrs, Banking-6+ yrs, Brokerage Operations-6+ yrs
Current Licenses / Certifications:
None
Position Located In:
AZ - Phoenix, NV - Henderson, DE - Wilmington
Education:
BA/BS
Job Type:
Full Time
Description:

Wilmington - DE, DE4250L, 4250 Lancaster Pike, 19805
Brittany Steichen
0613-34589

We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.

As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all.  As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.

Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies.  The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities.  The integrated banking and brokerage services represent the strong value proposition we offer our clients. 

Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products.  In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 12th largest bank in the United States.  Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location.  Consistent with the brand, we offer exceptional client experience.

Our Opportunity:

The Personal Trust Senior Operations Manager is responsible for assisting in all daily trust operations.  Charles Schwab Trust Company follows the three lines of defense model of risk governance.  The Personal Trust Operations Manager is a first line unit position and assures compliance with all policies and procedures, as well as all applicable state and federal banking regulations in the context of their responsibilities.

What you’ll do:

The Personal Trust Senior Operations Manager assists in all daily trust operations.  This includes, but is not limited to:

  • Manage the transfer of trust assets
    • Communicate with On-Boarding, Trust Administration, investment advisors, prior trustees, and 23B affiliate partners to ensure a smooth asset transfer
    • Provide TOA process outline at outset, perform TOA follow ups, and provide TOA close communications
    • Monitor the receipt of trust assets and obtain evidence of a zero balance at the funding account
    • Request and perform TOA income allocations for cash receipts up until TOA close communication
    • Book and price alternative assets
    • Scan alternative investment documentation onto shared drive; Store original documents in the vault
    • Submit requests for the re-registration of Bank custody alternative investments
  • Work with the Fiduciary Tax Managers to perform tax work and respond to tax questions
    • Gather missing tax documentation from prior trustee institutions and outside preparers
    • Load trust documents, tax notices, and K-1s into OneSource's workflow management system (ST)
    • Prepare and mail tax filings with transmittals and payments that cannot be made electronically
    • Review and process electronic and check tax payments for Personal Trust accounts
  • Manage daily trust operations to ensure the accuracy, timeliness, quality and compliance of all transactions
    • Facilitate the prompt scan deposit of all checks received to the Delaware office
    • Tracking change of addresses for trust accounts
    • Open new trust accounts on the InnoTrust platform; Notify assigned administrator of new account and funding details; Maintain and file transfer checklists
    • Process cost basis updates for alternative investments
    • Create user profiles and process password resets for Personal Trust clients enrolled in the Innovue system
    • Perform quarterly and annual audits of the PTIS vault under dual control

What you have:

  • Expertise in banking operations and financial regulations
  • 5+ years of experience in brokerage operations or retail banking (may include sales, service, fulfillment, operations, process, project, and management experience)
  • 5+ years of experience in the trust industry
  • Ability to work in a fast-paced environment.  Requires excellent time management skills, ability to juggle multiple competing priorities, with strength in identifying and implementing solutions to address the critical needs
  • Ability to read and interpret trust agreements
  • Strong analytical skills, ability to research problems, determine root causes and solutions
  • Excellent written and verbal communication
  • Ability to translate business needs into business requirements, and then implement
  • Bachelors Degree required; Advanced degree preferred.

What you’ll get:

  • Comprehensive Compensation and Benefits package
  • Financial Health: 401k Match, Employee Stock Purchase Plan, Employee Discounts, Personalized advice, Brokerage discounts
  • Work/Life Balance: Sabbatical, Paid Parental Leave, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer, Employee Matching Gifts Program
  • Everyday Wellness: Health and Lifestyle Wellness Rewards, Onsite Fitness Classes, Healthy Food Choices, Wellness Champions
  • Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships
  • Not just a job, but a career, with an opportunity to do the best work of your life

 


Learn more about Life@Schwab.


Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law.


Job Specifications
Relocation Offered?: No
Work Schedule: Days
Languages: English - spoken
Current Licenses / Certifications: None
Relevant Work Experience: Project Management-2-5 yrs, Banking-6+ yrs, Brokerage Operations-6+ yrs
Position Located In: AZ - Phoenix, NV - Henderson, DE - Wilmington
Education: BA/BS
Job Type: Full Time

Category:Banking
Activation Date: Tuesday, June 13, 2017
Expiration Date: Friday, July 14, 2017
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Brokerage Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law. Schwab also does not discriminate against applicants or employees because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant.

At Schwab, we believe that every employee, through their diverse abilities and experiences, can contribute to our growth, innovation and client loyalty. We embrace diversity and are committed to providing equal opportunity to all employees and applicants. If you have a disability, and require reasonable accommodations in the application process, call Human Resources at 800-725-3535. We will be happy to assist you. Schwab will only share your accommodation request with those individuals who have a specific need to know. The request for an accommodation will not affect Schwab’s hiring decisions. All other submissions should be performed online.

The Charles Schwab Corporation provides a full range of securities, brokerage, banking, money management, and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (“Schwab”), Member SIPC , offers investment services and products, including Schwab brokerage accounts. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides deposit and lending services and products.