Supervisor, Transfers
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 Transfers team is responsible for processing incoming transfers and outgoing transfers and distributions for assets held in custody by Millennium Trust Company. Team members’ work with custodians, asset sponsors, clients and other internal teams to ensure transfers are processed accurately, timely and in accordance with authorized direction. The Supervisor-Transfers 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
- Ensure adherence to Company policies and procedures while directing transfer activities
- Oversee required activities including but not limited scrubbing and processing incoming transfer paperwork; recording incoming assets in the client accounts; processing and following-up on incoming asset re-registrations; processing and recording outgoing transfers and distributions, ensuring appropriate tax reporting; processing of alternative asset valuation updates; and various projects as assigned
- Review and approve reregistration paperwork, transactions and other work generated by the team
- 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
- 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, custodians and clients
- Maintain confidentiality of private and sensitive information
- Lead departmental meetings
- Effectively communicate with Manager regarding departmental activities and issues
- 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
- Demonstrated ability to multi-task and work effectively with a variety of situations, individuals or groups
- Ability to work well under pressure
- Excellent organizational and project management skills
- Strong computer aptitude with proficiency in Microsoft Excel, Word and Outlook
- Operate with a high sense of responsibility and conscientiousness in delivering results
- Optimistic with a consistently positive and flexible attitude
- Strong working knowledge of the trust accounting system, as well as other internal tracking systems
- Ability to maintain the highest quality of service
- Knowledge of custody and IRA rules and requirements preferred
- Knowledge of investment and IRA tax requirements and reporting preferred
- Experience with processing, reconciling and valuing alternative investments preferred
Check out a video on our Company Culture! Millennium Trust Culture