JOB REQUIREMENTS: Settlement & Reorganization Specialist (1811318) JOB ACCOUNTABILITIES Monitor and process all Corporate Reorganizations such as tender offers, calls, name changes, etc. that impact trust clients as the information is received from the depositories.
Ensure proper and timely notification to trust investment officers, and when necessary directly with customers, of any upcoming reorganization to ensure timely communication of action to be taken. Monitor status of reorganizations to ensure responses are received. Communicate all necessary instructions through the depositories prior to expiration.
Process the proceeds received from the reorganization transactions to the appropriate accounts. Determine taxability of the action to ensure that the transaction is processed properly for tax reporting or communicate with Trust Tax to determine taxability when necessary. Research and provide answers to all inquiries with regard to reorganization and trading issues such as requesting additional information, interpretation of instructions received from depositories, etc. to resolve problems and ensure customer satisfaction.
Coordinate the settlement of trades with the Depository Trust Company, Union Bank and the Federal Reserve to ensure timely settlement between Trust accounts and the depositories. Monitor failing trades and provide updates to the trading coordinator and management. Process purchase of SLGS as directed by Corporate Trust.
Settle and transfer funds for commercial paper settlement. Communicate total settlement figures with the Corporate Treasury department in a timely manner. Receive and deliver funds with the depositories.
Distribute funds for trades, income and reorganization to the appropriate parties for processing. Balance and post trades to meet sweep timelines. Execute the settlement of option trades received for trust clients to ensure shares are pledged to cover option transactions.
Monitor expiration dates to ensure options are processed appropriately dependent on outcome of the contract. Process the appropriate transactions to the accounts and handle various charges to/from brokers. Process the review of unsettled trades and provide a status report to management, trust investment Chief Compliance officer and other appropriate individuals in the trust department./ Settlement of foreign positions with Union Bank.
Communicate any concerns or delays to the appropriate personnel and work with Union Bank personnel to ensure the issue is resolved in a timely manner. Transfer securities between accounts and at the depositories as requested by Treasury Operations, account administrators and by clients directly. Verify request for accuracy, transfer appropriate units and original face to ensure accruals are transferred correctly.
Balance and process Automated Cash Management (ACM) sweeps. Balance Goldman Sachs Money Markets and Internal Money Markets. Post monthly interests.
Monitor and process dividend reinvestments. Work with the transfer agents when a client requests to enter into a dividend reinvest program. Provide backup support to Trust Trading.
Accurately and timely process all trades within the trust company (sole and directed). Associated Bank is an equal opportunity employer committed to creating a diverse workforce. We support a work environment where colleagues are respected and given the opportunity to perform to their fullest potential. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.
Applicants with a disability who need assistance applying for a position with Associated Bank are asked to email: or call: .OTHER EXPERIENCE AND QUALIFICATIONS: EDUCATION Associate's Degree Business or Finance Required Bachelor's Degree Business or Finance Preferred EXPERIENCE 2-4 years -4 years financial industry experience Required 4-7 years 4-7 years Trust Operations experience PreferredAPPLICATION INSTRUCTIONS: Apply Online: ipc.us/t/E50E85DB468F483C
Associated Bank NA