Associate, Custody Operations

Vestwell is the financial technology company powering the new savings economy. The New York City-based fintech platform redefines how people save for the critical aspects of life across retirement, education, and healthcare savings needs. Today, Vestwell enables over 350,000 businesses and nearly 1.5 Million active savers, with over $30 billion in assets saved across all 50 United States. 

Vestwell offers a range of products, including workplace-delivered retirement plans, employer-offered student loan repayment benefits, and various savings accounts for education, emergencies, and individuals with disabilities.

Vestwell's platform serves a diverse clientele, including financial advisers, employers, third-party administrators, financial institutions, payroll providers, government agencies, and individual savers. To learn more, visit vestwell.com

Who Are We Looking For?

Vestwell is growing and looking for a Custody Ops Associate! This role plays an integral part in the day to day processing and monitoring of plans on  Vestwell’s platform. In this position, you will have the opportunity to collaborate cross- functionally with internal stakeholders to provide exceptional service to plan sponsors.

What Will You Be Doing?

• Review incoming cash, wires, and checks coming onto our trust accounting system
• Processing of corrections on a plan and participant level on a daily basis
• Work with sub-custodians to settle trades from the point of booking, through settlement for mutual funds, stable value funds, and ETFs
• Respond to a high volume of complex operational correctional issues for internal teams.
• Identify and resolve discrepancies in Cash and Share balances.
• Oversee and help ensure other team member action items are completed
• Ensure collaboration with all internal teams to meet expected timelines
• Support the creation and maintenance of written operating procedures related to assigned functions
• Oversee and audit record-keeping and plan administration components.
• Monitor deliverables and ensure timely completion of team projects.
• Investigate and reconcile discrepancies in data and remediate accordingly.
• Strong written communication, critical thinking and organizational skills.

Requirements

The Necessities

• Undergraduate or graduate degree in Finance or Accounting with a strong academic performance record
• Possess a strong aptitude for numbers, and understanding of cash and traditional securities reconciliations
• Demonstrate an affinity for learning, creating, and iterating rapidly
• Proactive and analytical, able to problem-solve and propose solutions
• Demonstrate a high degree of organization and dependability
• Ability to prioritize tasks and manage client expectations
• Ability to use excel at a high level

The Extras

• Experience with collaboration, project management, and CRM tools such as Google Workspace, Slack, Salesforce, Zendesk, and Jira
• Possess a good understanding of how mutual funds, stable value funds, and ETFs trade and settle
• Familiarity with custodial platforms, such as Matrix or Schwab
• General knowledge of ERISA rules and requirements, and experience with one or more compliance / record-keeping systems (e.g. SunGard Relius, ASC, FIS)
• Qualified 401(k) Administrator (QKA) or higher ASPPA credentials
• Relevant record-keeper experience

This role will be based in Vestwell’s King of Prussia office, and will be expected to report to the office in a hybrid schedule.

The expected base salary range for this position is $65K - $75K base. This position is eligible to participate in the Company Bonus Pool and is eligible to receive new hire equity in the Company. Please note that salary bands are based on NY and other similar metro areas and may differ based on where the role is ultimately hired.

OUR BENEFITS

We’re an innovative, high-growth company, with lots of exciting milestones ahead. We value health and wellness at Vestwell and in addition to a dedicated Employee Wellbeing Committee, we offer competitive health coverage and generous vacation offering. We have adopted a hybrid office policy, but all employees are welcome at our bright, comfortable office with many workspace options in our Midtown Manhattan, Austin, King of Prussia, and Phoenix offices, so everyone has a setting that is the most productive for them. Oh, and naturally we have a great 401(k) plan!

OUR PROCESS

It starts the same for every candidate: getting to know the team members through 1-2 conversations about Vestwell, your experience, and your interests. Next steps can vary by role, but the usual next steps are a skill or experience screen (e.g. a coding interview for an Engineer, a portfolio review for a Designer, deeper experience call for other roles) which leads to a virtual or in-person interview panel after that if the screens go well. Before making an offer, our interview process concludes with a references check stage for your recruiter to meet with a current or former supervisor and peer. We prioritize transparency and lack of surprise throughout the process.

For your awareness you will only receive correspondence from recruiting@vestwell.com any other domain not ending in Vestwell.com is not our Recruitment team.

Vestwell’s Privacy Policy. Attention California residents: In the course of conducting our business and complying with federal, state, and local government regulations governing such matters as employment, tax, insurance, etc., we must collect Personal Information from you. Should you accept employment with Vestwell you may view our California Privacy Rights Act here: Vestwell’s California Privacy Rights Policy.