Cash/Custody Operations Specialist at Somerset Trust Company in Somerset, Pennsylvania

Job Description:

SUMMARY: This position is responsible for daily processing and settlement of securities through the industry/market. Trade requests, cash management, reconcilement, security and account maintenance, as well as various other miscellaneous duties are performed. This position will work with the various advisors and brokers to ensure timely settlement of the trade activity.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

Daily processing and reconcilement of security trades, income, dividends, daily accruals, class actions and corporate actions.
Affirmations/Confirmations for trade settlements.
Approval of trades for settlement.
Take trade requests and place with broker.
Process requests and changes from Trust Administrators such as date of death valuations, fees, asset transfers, cost basis and incoming cash.
Process and balance sweep vehicles.
Posting of invoice fees.
Asset Maintenance: Setup, pricing and rate changes.
Balance all Cheetah activity with Fifth Third.
Confirm Settlement with Fifth Third and FDIC.
Complete daily settlement wires.
Generation and mailing of trade notices and customer correspondence to clients.
Maintain current knowledge of and adhere to the BSA policy.

SUPERVISORY RESPONSIBILITIES: This job has no supervisory responsibilities.

QUALIFICATIONS: To perform this job successfully, an individual must be able to perform each essential duty with consistency and a high degree of accuracy. In addition, this job requires good organization and time management skills along with effective communication skills. Must be able to meet daily cutoffs and the ability to meet deadlines. The individual must be able to prioritize various functions for processing and completeness. The individual must be able to work within a team environment. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

EDUCATION and/or EXPERIENCE
Associate's degree (A. A.) or equivalent from two-year college or technical school; or six months to one year related experience and/or training; or equivalent combination of education and experience.
Must have knowledge of a variety of computer software applications including Word and Excel.

LANGUAGE SKILLS
Ability to read and interpret legal and regulatory documents such as trust documents, court orders, and procedures. Ability to write routine reports and correspondence. Ability to speak professionally to colleagues and clients.

MATHEMATICAL SKILLS
Ability to calculate figures and amounts such as fees, interest, income, etc.

REASONING ABILITY
Ability to interpret and display an in depth understanding of instructions furnished in written, oral, diagram, or schedule form. Must have organizational, priority-setting and decision-making skills.

OTHER SKILLS
Displays an eagerness & ability to learn, problem solve, efficiently uses the technology provided, and is receptive to new ideas. Must be a self-starter with strong verbal and written communication skills.

PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to sit; use hands and fingers to operate office equipment, telephones, etc.; and talk or hear. The employee is occasionally required to stand; walk; reach with hands and arms; and stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, peripheral vision, depth perception, and ability to adjust focus.

WORK ENVIRONMENT
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.