AIFS Operations Specialist
- Employer
- Alerus Financial
- Location
- Grand Forks
- Salary
- Join our team!
Job Details
The AIFS Operations Specialist is responsible for posting income for all AIFS account types, reconciliation of various control and deposit accounts, and common fund valuation. These responsibilities include ensuring excellent client service for internal Wealth Management (WM) advisors and associates and external clients through accuracy of data input, accuracy of processing, and adherence to specific service standards and compliance requirements.
ESSENTIAL RESPONSIBILITIES
Job Function Number 1: Process Support 60%
- Collaborate with the custodians to ensure all income is received for a mixed portfolio of holdings. Oversee and ensure the posting to underlying accounts is completed timely, accurately and with proper coding. Serve as the point of contact for income related questions and concerns.
- Work with custodians and investment team to ensure that all trades are sent to the custodian, and settlement occurs successfully and accurately within the trust accounting system, and is reflected in the appropriate underlying account.
- Work with custodian and investment team to process corporate action according to established procedures and policies. This includes, but is not limited to, monitoring for applicable corporate actions, ensuring all corporate actions are responded to timely and accurately, and running appropriate transactions in the trust accounting system to underlying holders timely and accurately.
- Utilize the trust accounting system to price/value common & collective funds on a daily or bi-weekly basis. This includes, but is not limited to, reviewing accruals within the funds, ensuring cash is received timely for open accruals, verifying trades placed and settled, and other analytics and reporting as it pertains to the valuation of funds.
- Work with trusted vendor to ensure class action suits are filed timely and accurately for underlying clients and post resulting income to underlying accounts.
- Oversee the delivery and receipt of assets to ensure all assets are accounted for appropriately and accurately, coded on the trust accounting system timely and accurately, and that all forms and documentation are collected and processed according to established procedures and policies.
- Using established policies and procedures, perform date of death valuations timely and accurately by obtaining a list of assets held at time of death from the trust accounting system, determining appropriate as of death value, and posting the appropriate transactions in the trust accounting system to make the account reflect the updated value.
- Support separately managed account (SMA) Processing.
- Review prior year transactions for accuracy. Using the trust accounting system resolve any exceptions, then produce and mail client tax document by the IRS dictated deadline. Understand and review client fiduciary tax returns; 1098, 1099MISC's, 1099MISC RENT's. Ensure tax file is submitted to the IRS for processing by the IRS submission deadline.
- Utilizing the trust accounting system, ensure client statements are created/generated for all accounts, ensure statement files are delivered to vendor for printing and mailing. Prepare a monthly reconciliation detailing statement production.
- Open and close accounts in the trust accounting system using established procedures and perform account maintenance as requested by WM advisor and associates.
- Act as the day to day contact for assigned accounts by processing cash receipts/disbursements and responding to client questions and/or concerns in a timely manner. Oversee properly coded disbursements, deliveries, and receipts by reconciling account(s) monthly and prepare related forms and documentation according to established procedures and policies.
- Ensure that reconciliations are completed timely and accurately, as it pertains to underlying processes.
Job Function Number 2: Client Support 25%
- Develop and maintain constructive relationships with internal and external clients by providing prompt and courteous service on all inquiries received and applying excellent verbal, written, and telephone communication skills.
- Develop and maintain good working relationship with internal and external clients.
- Identify and assist with the training and support for new and existing internal clients on AIFS products and services and using AIFS systems to successfully enter and process transactions.
- Assist internal clients with product and/or process questions.
- Ensure proper back-up coverage is in place for all tasks in department to ensure they are completed timely and accurately each day. Provide coverage for team members to ensure clients and internal bank personnel receive superior service.
Job Function Number 3: Organization, System, and industry Knowledge 15%
- Maintain up-to-date knowledge of all systems as they pertain to the position.
- Maintain up-to-date knowledge of banking industry as it pertains to the position.
- Complete regulation, compliance, and addition training as assigned.
- Participate in departmental and division meetings to learn about financials, budget, new products, system updates as well as process and regulation changes.
- Maintain working knowledge of all Alerus Financial products as it pertains to the position.
- Develop relationships with the appropriate Product Manager as it pertains to the position.
- Communicate with appropriate Product Manager regarding problems with his/her product.
Position Requirements:
Qualifications:
- Bachelor's degree in accounting, business or finance preferred or equivalent combination of education and/or related experience.
- Excellent computer skills, proficient in Microsoft Office applications.
- Demonstrated analytical and problem solving ability.
- Excellent communication and client services skills.
- Ability to work under pressure and meet time deadlines.
- Good time management and organizational skills.
- Ability to work independently and in team-oriented environment.
- Ability to accept, support and implement continuous change.
Personal Characteristics:
- Positive, client-centric attitude.
- Self-motivated, confident and eager to take on new challenges.
- Attention to detail with a strong commitment to quality.
- Professional appearance and attitude.
- Commitment to continued learning.
Physical Demands: (must be met with or without a reasonable accommodation)
- Extended periods of time sitting at a desk and using office equipment.
- Ability to operate a personal computer/laptop for approximately 8 hours per day.
- Extended time is spent reviewing physical and electronic documents.
- The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl.
- Vision abilities required by this job include close vision.
- Periodically, may lift supplies and materials which weigh up to approximately 20 lbs.
- Will spend most of time in an indoor environment.
Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.
Company
Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.
What is the current company culture like?
While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.
What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.
How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.
Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.
What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.
See the current Alerus job openings below!
- Website
- https://alerus.com/
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