Trust Operations Specialist, Sandy Spring Bank, Olney, MD
Trust Operations Specialist
Job description
Are you someone who seeks opportunity and has a true desire to grow your career with an organization that has enriched the lives of its clients and communities in the Greater Washington region for more than 150 years? If so, Sandy Spring Bank may be the perfect fit for you!?
Sandy Spring Bank is a growing financial services company focused on creating real experiences for our employees, clients, shareholders and communities. ?We are proud to have been certified as A Great Place To Work, recognized by The Washington Post and the Baltimore Sun as a Top Workplace, by Forbes magazine as the #1 Bank in Maryland. It is our employees who play an integral role in shaping who we are as a company and upholding what matters most to us: people and relationships.?
To help us attract the highest quality individuals, we offer a comprehensive benefits package to those who qualify. We offer competitive market salaries, paid time off, multiple retirement savings options, full health care options, life insurance, health care and dependent care flexible spending accounts, career development opportunities, tuition assistance and volunteer opportunities. We are proud to offer those, and so much more, making Sandy Spring Bank a remarkable place to work and build a career.
About the Job:
About the Job:
Sandy Spring Bank is currently recruiting for a Trust Operations Specialist. Under occasional supervision, but in line with established procedures, the successful candidate will perform a variety of duties associated with trust operations.
MAJOR JOB ACCOUNTABILITIES
DAILY/WEEKLY:
- Manages the bill paying system and ensures that if applicable, all bills are paid through the online bill paying system. On a daily basis, reviews scheduled disbursement maps and invoices received and amounts entered. Enters one time disbursement requests. Prints and mails checks. Creates ACH disbursement file and posts. Sets up new scheduled deposits and disbursements as needed.
- On a daily basis, prints and distributes various forms and overnight reports. Reconciles trust system to DDA account, Ebiz system to DDA account, processes money market trades, reconcile money market balances and accruals. Prints custodian reports and posts income and mutual fund trades. Settles cash with custodians. Processes and posts incoming ACH and checks. Posts electronic forms. Posts miscellaneous transactions as needed. Sends trade advices to clients. On a daily basis, processes mutual fund trades through various interfaces.
- On a daily basis, downloads and settles electronic trades for 401(k) plans. Processes manual stock trades for 401(k) plans. Processes payroll contributions and participant distributions as needed.
- On a weekly basis, scans work in Optima. Prints and distributes memo ticklers, cycles asset dates and verifies automated income.
MONTHLY/AS NEEDED:
- On a monthly basis, assists with the printing and mailing of statements, cycles various system dates, sends electronic files to vendors, moves money for custodian income and fees. Reconciles custodial accounts, mutual fund accounts and 401(k) plan accounts.
- Reconciles internal suspense accounts and scheduled receipts reports.
- Reviews fee calculation worksheets. Makes corrections as needed. Posts entries to trust system and general ledger accounts.
- Files class action claims and processes class action proceeds.
- Assists Operations Manager with weekly TDA calculation, review preparation and distribution of monthly reports and spreadsheets. Also assists with special projects as needed.
TRANSFER OF ACCOUNTS:
- Reviews securities transfer documents for accuracy. Ensures receipt of cost basis and date acquired from account officer. Prepares instruction letters to brokers, mutual funds, transfer agents etc. Prepares securities for shipment to Northern Trust. Posts assets to account in TrustRite. Monitors delivery of securities, follows up with broker/fund company and keeps Operations Manager advised of status of transfer.
- Prepares letters for outgoing transfers. Files reviewed weekly. Follows up on outstanding items.
GENERAL DEPARTMENT/TECHNICAL RESOURCE :
- Provides backup for Operations manager and trust processors.
- Functions as a technical resource to members of the Trust Operations team.
- Responds to questions and requests promptly. Works in cooperation with the Trust team and other partners to resolve questions, complaints, and or errors.
- Works to resolve any client or operational issues proactively and diplomatically. Mentors more junior team members.
Required Skills:
KNOWLEDGE, SKILLS, AND ABILITIES:
- Work requires 5 years as Trust Processor II or 3 to 5 years of work related experience. Familiarity with trust products and services is required. Strong knowledge of accounting as it applies to trust accounts is necessary. Strong aptitude for math and attention to detail required.
- Experience using personal computers for data entry and report writing is required. Ability to troubleshoot minor program problems necessary. Accuracy and attention to details is required.
- Problem solving skills to find solutions to problems that are technically complex and require collection, interpretation, and analysis of data from diverse sources is required at this level. Situations require operational knowledge of various units and usually involves human, technical, and/or administrative problems.
- Requires regular contact with diverse groups internally and externally in furnishing and obtaining information which requires some cooperation. Interpersonal skills needed to maintain positive rapport within the organization.
- Work is under occasional supervision where independent judgment is sometimes required in the interpretation of existing policies and procedures and the guidelines are limited.
SPECIFIC PHYSICAL REQUIREMENTS:
Work requires reasonable mobility in and around the work area. Ability to use standard computer and phone systems is required
WORKING CONDITIONS:
Normal office environment where there is almost no discomfort due to temperature, dust, noise, or other disagreeable elements.
Work includes little or no potential exposure to hazardous conditions.
Must be able to travel to remote company and/or client locations.
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
Additional Information:
Sandy Spring Bank provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
If you require a reasonable accommodation to apply for a position, please call our job line at 1-800-###-#### and select option 5. Requests are considered on a case-by-case basis.
Sandy Spring Bank partners with various job boards to advertise our openings. Please visit our website, www.sandyspringbank.com to confirm the validity of the job posting to avoid any potential fraudulent activity. We encourage and recommend all candidates to apply via our website.