Operations Analyst, Cash Settlements

Job Description

Fiduciary Trust International is a premier investment and wealth management firm with a commitment to growing and protecting wealth across generations. We offer a dynamic and collaborative approach to managing wealth for high-net-worth and ultra high-net-worth individuals and families, family offices, endowments, foundations, and institutions. Unlike other firms, our investment managers, tax and estate planning professionals work together to develop holistic strategies to optimize clients portfolios while mitigating the impact of taxes on their wealth. As a fiduciary, the guidance we provide is always in the best interests of our clients, without conflict or competing benefits. We offer boutique customization and deep expertise in specialized investment, tax and planning strategies alongside sophisticated technology and custody platforms. Fiduciary Trust International is owned by Franklin Templeton, a diversified firm that spans asset management, wealth management, and fintech, giving us many ways to help investors make progress toward their goals. With clients in over 150 countries and offices on six continents, you ll get exposed to different cultures, people, and business development happening around the world. What is Operations Analyst, Cash Settlements - Fiduciary Operation group responsible for? This role will be part of Fiduciary Operations team and would work closely with Client Services Administrators and Portfolio Managers of Fiduciary Trust to support day to day Cash Settlements operation. The primary responsibilities of this role requires supporting cash settlements functions for FTCI institution which includes cash and remittance payments along with support to Trust, Employee Benefit Trust, Tax department and Custody functions. Apart from above this role is responsible to create and distribute many critical reports to business heads and higher management. This role requires ability to work in a fast-paced environment against stringent deadlines throughout the day to meet agreed services delivery. Along with this, the responsibility of this role will be - to ensure the activities/tasks are performed accurately & timely by the team and support supervisor in process activities. The role requires the ability to gather & research information, resolve problems, and work well in daily deadline oriented environment. Also requires the ability to work on multiple tasks at the same time and to keep all appropriate personnel informed of current activity and events. The analyst will work on day to day request received and should also perform research and find resolution on issues that are complex in nature. This role deals with various external and internal contact people, and requires excellent client service, oral and verbal communication skills. What are the ongoing responsibilities of Operations Analyst, Cash Settlements? Daily processing of cash transactions: Review all Checks presented for payments. Process stop payments on checks. Process remittance events (Add, Change, Delete event) on Accounting platform. Ensure all daily activities are processed accurately and within the cutoff times. Respond timely on customer service requests. Interact with US Cash Settlements team to ensure timely completion of requests and meet service deliverables. Process Write off request received from Administrator or Account services team to debit or credit particular amount in the account for closing activity. Calculate co-trustee commissions for the trust accounts as per predefined excel sheets and prepare annual tax letters 1099 at the year end. Reviewing and Monitoring of daily cash transactions: Monitor Generic Mailbox and ensure timely response to the queries from the CSA s. Should be able to resolve queries/issues from the team with minimum dependency on the Business Review and verify all cash transactions on accounting system. Respond timely on customer service requests. Monitoring of CashApp queues and ensuring the verification of all the requests before the cutoff times. Need to keep a track on all the daily activities performed by team and ensure all the activities are completed as per the timelines. Track the internal errors and ensure team is updated with the procedural changes. Perform RCA (Root Cause Analysis) on errors and suggest for any additional controls required to avoid similar errors in future. Suggest process Improvements and process efficiencies Respond to all process inquiries on same day through email/phone. Adhoc Requests: Analyze the request and coordinate with different teams if required to gather the required information to complete the adhoc request Track, assign and prioritize the requests Analyze and identify the request and schedule the request on schedule basis if needed regular. Understand and work on different adhoc request team receives Provide the information on a timely manner. Critical Reporting: Research on breaks report published by concern team on daily basis and send email to respective team which cause the break and update the reason in the report. On a daily basis review and reconcile General Ledger balances which include Checks Reconciliation Monitor and report outstanding checks The Unearned Income Report must be run monthly to ensure all unsupervised assets are moved into the appropriate income portfolios prior to statements running at the end of the month. Analyze the overdraft report received from FIDO application. Research on root cause for true Overdraft and assign the OD memo to the respective relationship associate. Maintain the source data used for internal OD memo template. Leading business meetings. Preparing monthly dashboard and publish it to higher management. Preparing and distributing weekly and monthly overdraft report to business heads and higher management. Preparing and distributing outstanding check log to business heads and front office. Projects and Process improvements: Assist other team members both in onshore and locally in data collection as requested Support supervisor in internal & external audits. Analyze the existing reports and process and suggest improvements Work on different projects Cash Settlement is involved Create new procedure documentation in support of new process. Work closely with different departments involved in the projects Leading business meetings on projects. Act as system SME for all the projects where Cash Settlements is involved. Coordinate recommended process changes and enhancements including test plans to ensure successful implementation Provide post-implementation support for all approved deliverables Understand different systems we use and there work flows Analyze the existing reports and process and suggest improvements Identify the reports/ tasks which can be automated and work closely with the technology teams to improve efficiency. Participate in Disaster Recovery Exercises and any projects assigned. What ideal qualifications, skills & experience would help someone to be successful? Bachelor s in commerce and accounting mandatory Relevant experience of 1 to 4 in Banking and Financial Services Industry. Solid Accounting skills with exposure and know-how on reconciliations and Balance Sheet. Sound knowledge of the Payment Processing