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Treasury Operations Associate

New York, NY

Since 2017, Flourish has been on a mission to help financial advisors better secure the financial futures of their clients. We focus on independent Registered Investment Advisors (RIAs), delivering financial products that advisors can’t easily access today through beautiful, scalable, and easy-to-use technology.

Today, we work with over 850 RIAs that collectively represent more than $1.5T in assets under management across two products: Flourish Annuities and Flourish Cash. Headquartered in New York City, we are an independently-operating, wholly-owned subsidiary of MassMutual Life Insurance Company.

Read on if you are interested in joining a small, highly-collaborative, rapidly-growing startup—backed by the support and stability of a Fortune 500 company.

About You

You believe that details matter and think that triple checking your work to ensure accuracy is the minimum standard. You are thoughtful about risk and learn quickly from your mistakes. You like to understand how things work and are interested in finding ways to make established processes more streamlined and efficient. You like working together with like-minded individuals to solve problems and contribute to a team objective. With experience in middle or back office operations at a registered broker dealer or bank, you are excited to dive in and make a direct impact on our daily operations.

About the Role

As a Treasury Operations Associate on the Flourish team, you will report to the Treasury Operations Lead and partner closely with Flourish’s cash, client support and strategic partnership teams on the daily treasury operations. You will work closely with our banking partners on our brokered sweep program and assist in the onboarding of new program banks. You will be responsible for operational activities on a daily basis and collaborating with internal and external stakeholders. As part of a small team, this role will be a hands-on opportunity to work closely with senior members of the organization and gain valuable operations experience.

Principal Responsibilities

  • Facilitate daily cash movement of customer funds within the brokered sweep program as well as movement of funds between Flourish products and entities
  • Perform daily cash reconciliation of customer cash within the brokered sweep program and responsible for all commentary that is shared internally and with external auditors
  • Run proprietary algorithm to derive the most optimal distribution of customer funds among brokered sweep program bank partners. Lead investigation to resolve any issues
  • Communicate, calculate, and settle all monthly interest including a full reconciliation of all program banks
  • Aid in onboarding of new banks, ensuring that all documentation is completed accurately, and supporting external relationships with third party vendors
  • Interact with processing and program banks in the sweep program and interact regularly with executives at banks or service providers to help resolve complex issues
  • Pull and prepare materials for internal and external Audit, and other regulatory agencies
  • Identify and implement opportunities for efficiency gains across the team functions and in the Flourish ecosystem
  • Manage independent projects on behalf of the senior leadership team and CEO with minimal oversight

Minimum Qualifications

  • Bachelor’s degree
  • 2+ years experience in operations and/or treasury focused function from hedge fund, asset manager or large bank
  • Current holder of FINRA Series 99
  • 2+ years working with various USD payment rails and infrastructure (i.e. Fedwire, SWIFT, CHIPS, ACH, etc.)
  • 2+ years in SEC/FINRA Broker Dealer regulated institutions such as 15c3-1 Net Capital rules and 15c3-3 Customer Reserve rules

Preferred Qualifications

  • Experience working various cash and/or fixed income products a plus
  • Proven track record and keen eye for process improvement and streamlining procedures
  • Reliable, eager, ambitious, self-starter, strong attention to detail a must

At Flourish, we focus on ensuring fair, equitable pay by providing competitive salaries, along with bonus and incentive opportunities and benefits for all employees.

Base Salary Range: $84,100 - $110,300 plus bonus

Disclosures:

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.

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