MILLENNIUM TRUST COMPANY is a rapidly-growing, leading financial services company offering specialized retirement and institutional services. Whether clients are managing corporate retirement assets, running a business or wanting choice beyond traditional asset options, we provide flexible and digital solutions to support our clients’ success. Ultimately, we aim to educate and increase access to investments to help our clients on their journey to retirement readiness, but do not provide investment advice.

Millennium Trust has experienced year-to-year double digit growth and prides itself on its strong, progressive culture. We have been recognized for our tremendous growth on lists, such as Crain’s Fast 50 and Inc. 5000, and have also been recognized for our positive workplace culture on the 2019 Best Places to Work in Illinois list, as well as the 2019 Model Workplace Award and 2018 Champion for Young Professionals Award from the Greater Oak Brook Chamber of Commerce. Millennium Trust employees live out the values of Do Right, Excel, Collaborate, Innovate and Celebrate and deliver the brand promise of going “Above and Beyond,” so each client experiences the highest level of service.

We are always looking to expand our growing team with dynamic and enthusiastic individuals. If you enjoy a collaborative, fun environment that encourages career development, Millennium Trust is the place for you!

POSITION SUMMARY:
The Traditional Asset Operations team is responsible for trade comparison, clearance and settlement activities and account maintenance activities, associated with publicly traded stocks, bonds and mutual funds held in custody by Millennium Trust Company. The team’s daily responsibilities include but are not limited to monitoring and executing trades; balancing settlements; processing transfers, dividends, corporate actions and liquidations; maintaining the Security Master; and reconciling positions with sub-custodians. Team members will work with sub-custodians, transfer agents, clients and other internal teams to research and resolve any issues that arise. 

The Supervisor -Traditional Asset Operations t is responsible for overseeing and directing the team members as they perform their daily responsibilities ensuring that activities are completed accurately and efficiently, and adhere to Company policies, procedures and established service levels. The incumbent will work closely with others within Security Operations and across the firm to maintain positive communication and streamline work flows.

ESSENTIAL JOB FUNCTIONS:

• Define strategy and service level agreements (SLAs) to align with overall Company and department initiatives
• Identify market trends and determine opportunities to improve current processes
• Execute workforce management and division of work
• Coach and develop the team by defining and executing an annual training plan
• Lead team structure design, compensation, headcount planning, recruiting, and promotion process
• Knowledge of custody and IRA rules and requirements preferred
• Knowledge of investment and IRA tax requirements and reporting preferred
• Knowledge of book-entry systems and processes related to traditional securities preferred Experience with processing and reconciling positions and settlement preferred
• Ensure adherence to Company policies and procedures while directing valuation activities
• Oversee required activities including but not limited to trade comparison, clearance and settlement activities; dividend and corporate actions processing, position reconciliation, liquidations, trade and transaction corrections and various projects as assigned
• Review and approve transactions, correspondence and other work generated by the team
• Participate in annual audit activities with external auditors for items related to Traditional Asset Operations
• Assist the team with complex issues and other work as required
• Effectively analyze, problem-solve and make decisions
• Design and implement procedure and process improvements to maximize efficiency, accuracy and control, optimize resources and drive automation
• Establish and maintain documentation associated with all policies, procedures and activities
• Monitor and maintain transaction and other activity metrics for departmental planning and periodic reporting to management
• Oversee and perform system tests and maintain current test plans to ensure that new system releases are properly reviewed
• Develop and maintain a positive and equitable work environment
• Respond to inquiries from and maintain effective relationships with internal departments, investment sponsors, and clients
• Effectively communicate with Manager regarding departmental activities and issues
• Maintain confidentiality of private and sensitive information
• Lead departmental meetings
• Other duties as assigned

EDUCATION, EXPERIENCE AND SKILLS REQUIRED:

• Bachelor's Degree
• 7 - 10 years of applicable experience including 1 - 3 years in leadership
• Ability to teach or foster development in others
• Ability to effectively communicate verbally and in writing, and in particular, the ability to articulate complex ideas in an easy to understand manner
• Possess a strong aptitude for numbers and reconciliations
• Tendency to be proactive and analytical, with the ability to problem solve and propose resolutions
• Ability to both understand the big picture and dive into relevant details

Check out a video on our Company Culture! Millennium Trust Culture