Senior Specialist, Trust Operations

Job Description

Your Opportunity

Charles Schwab Trust Company (“CSTC”) provides professional trust administration and investment services to our clients, giving them peace of mind that their wishes will be carried out with the financial expertise, unbiased decision-making, and fiscal responsibility imbued in Schwab’s values. The Personal Trust Operations Specialist is responsible for assisting in daily operations supporting the various trust products. Charles Schwab Trust Company follows the three lines of defense model of risk governance. The Personal Trust Operations Senior Specialist is a first line of defense position and assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations in the context of their responsibilities.

What you are good at

The Personal Trust Operations Senior Specialist assists in all daily trust operations. This includes, but is not limited to:

• Look after daily trust operations transactions to ensure the accuracy, timeliness, quality and compliance to all policies and procedures.
  
  • Facilitate the prompt scan deposit of all checks received
  • Care for the local check (i.e. checks printed on-site) process
  • Maintain daily check deposit and storage log
  • Open new trust accounts on the InnoTrust platform; Advise assigned administrator of new account and funding details;
  • Maintain and file transfer checklists
  • Process cost basis updates for alternative investments
  • Build user profiles and process password resets for Personal Trust clients enrolled in the Innovue system
  • Perform quarterly and annual audits of the PTS vault under dual control
• Support for various trust services offered by Charles Schwab Investor Services and Charles Schwab Advisor Services. This includes, but is not limited to:
  
  • Partner and collaborate with On-Boarding, Administration, investment advisors, prior trustees, and 23B affiliate partners to provide outstanding customer service to both retail and institutional clients.
  • Coordinate disbursement and receipt activity within trusts through the initiation of cashiering transactions, creation of scheduled remittances, and processing of deposit adjustments.
  • Monitor the receipt of trust assets and acquire 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
• Proactively participate and provide input into continuous improvement to onboarding policies, procedures, and work flow to ensure processes align with a “Through Client’s Eyes” perspective consistent with Schwab’s client-first culture.
• Align with state and federal banking regulations and internal policies and procedures regarding asset eligibility, OFAC, AML, and Customer Identification Program.
• Actively participate in special projects and initiatives in the spirit of innovation, collaboration, and community.

What you have

• Expertise in retail banking operations and financial regulations
• 1-3+ years college degree or equivalent experience in trust, brokerage or banking (may include sales, service, fulfillment, operations experience)
• Ability to work in a fast-paced environment. Requires excellent time management skills, ability to balance multiple contending priorities, with strength in identifying and implementing solutions to address the critical needs
• Ability to read and follow 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

Why work for us?

Own Your Tomorrow embodies everything we do! We are committed to helping our employees ignite their potential and achieve their dreams. Our employees get to play a central role in reinventing a multi-trillion-dollar industry, creating a better, more modern way to build and manage wealth.

Benefits: A competitive and flexible package designed to empower you for today and tomorrow. We offer a competitive and flexible package designed to help you make the most of your life at work and at home—today and in the future. Explore further.

Schwab is committed to building a diverse and inclusive workplace where everyone feels valued. As an Equal Opportunity Employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law. Please click here to see the policy.

Schwab is an affirmative action employer, focused on advancing women, racial and ethnic minorities, veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at [email protected] or call 800-275-1281.

TD Ameritrade, a subsidiary of Charles Schwab, is an Equal Opportunity Employer. At TD Ameritrade we believe People Matter. We value diversity and believe that it goes beyond all protected classes, thoughts, ideas, and perspectives.