About This Job
The main purpose of this job is to lead and oversee income processing and related operational activities within Wealth Operations. This role ensures work is completed accurately, efficiently, and in compliance with established policies, procedures, and service expectations .
- Essential Functions
- Supervise staff and processes associated with posting of all income related transactions on stocks, bonds, mutual fund, money market funds and non-marketable assets
- Supervise free movement activities on behalf of client accounts to ensure assets held by trusts are reflected timely and accurately
Provide services for special assets such as Limited Partnerships (LLP), Limited Liability Company (LLC's), LLP's Private placements, and hedge funds when called upon to process in special circumstances
Monitor and direct daily, weekly, and monthly settlement activity to ensure accurate and efficient processing within the area
Manage liability associated with income processing to reduce monetary risk, reputational risk with high net-worth clients, exposure to large fee losses from Trust clients, and confidence risk with administrators and portfolio managers
- Ensure audit and compliance requirements are completed to prevent violations
- Develop comprehensive conversion and testing plans and implement new enhancements with zero defects
- Oversee department workflow and effectively communicate decisions, priorities and relevant information to team members
- Provide guidance to team members on departmental projects/issues, coach and develop training plans, lead development conversations and answer day-to-day questions for team members
- Perform other duties as assigned
- Knowledge, Skills & Abilities Required
- Strong knowledge of Trust or security asset types, income processes and depository settlement information
Intermediate knowledge of Automated Customer Account Transaction (ACAT) and free movement standards of various types of securities instruments, marketable and nonmarketable securities, and knowledge of Global Securities processing via industry depositories (DTCC, Federal Reserve, NSCC, State Street, and BNY Mellon)
- Ability to collaborate successfully with administrative and portfolio managers to exceed Trust client requirements
- Ability to recommend process improvements and recognize project related cross-functional impact
- Ability to coach and develop team members with proven experience to build teams within area of influence
Self-starter with strong decision-making skills and the ability to effectively communicate and interact with all levels of the company clearly expressing ideas and concepts both verbally and written
- Ability to remain adaptable and resilient in all situations with an optimistic outlook and cast a positive show aligned with our culture and core values
- Intermediate level proficiency with Microsoft Word, Excel, Teams, and Outlook
- Education & Experience
- Bachelor’s degree or equivalent combination of education and experience required
- 3+ years of wealth operations experience or equivalent required
- 1+ year of leadership experience required
- Experience in management reporting required
**Level of role is determined by knowledge, experience, skills, abilities, and education.
***For individuals applying, assigned and/or hired to work in areas with pay transparency requirements, Commerce is required by law to include a reasonable estimate of the compensation range for some roles. This compensation range is for the Supervisor, Income Processing - Wealth Operations or Senior Supervisor, Income Processing - Wealth Operations level job and contemplates a wide range of factors that are considered in determining most appropriate job level and making compensation decisions, including but not limited to location,
skill sets, education, relevant experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for any applicable differentials (geographic, bilingual, or shift) that could be associated with the position or where it is filled. At Commerce, compensation decisions are dependent on the facts and circumstances of each situation. A reasonable estimate of the current base pay is $63,500 to $85,000 annually.
Must be eligible to work in the US without sponsorship now or in the future.
The candidate selected for this position may be eligible for the following employment benefits: employer sponsored health, dental, and vision insurance, 401(k), life insurance, paid vacation, and paid personal time. In addition, we offer career development, education assistance, and voluntary supplemental benefits. Click here to learn more.
Location: 922 Walnut St, Kansas City, Missouri 64106
Time Type:
Full time
