Charles Schwab Sr Manager, Personal Trust Operations in Wilmington, Delaware
Wilmington - DE, DE4250L, 4250 Lancaster Pike, 19805
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 at http://www.aboutschwab.com/about/leadership/charles_schwab 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.
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 at http://www.aboutschwab.com/careers/lifeatschwab/" .
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.
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
Job Type: Full Time
Activation Date: Tuesday, June 13, 2017
Expiration Date: Friday, July 14, 2017