at MIDLAND STATES BANK in Rockford, Illinois, United States
Job Description
Pay Range: $24.13-$30.17
At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.
Position Summary
The Operations Specialist II – WM is responsible for providing service and support to the bank’s wealth management division. Responsibilities of the position include timely and accurate processing and accounting of client transactions. The Operations Specialist II – WM will have strong working knowledge of WM Operations Core Team critical functions and act as a liaison between WM Operations and Wealth Management division.
Primary Accountabilities
- Performs complex account and security maintenance and transaction requests related to core/critical team functions.
- Has strong working knowledge of Trust Accounting system and data flow.
- Review and interpret complex documents pertaining to client's information and general knowledge and understanding of various fiduciary account types currently under administration.
- Knowledge and understanding of different security types as well as how they trade, settle and are treated for tax and performance reporting.
- Validates and audits distribution and transfer requests for adherence to policy and procedure for self and specific WM Operations core team.
- Process and settle trades, dividends, interest, maturities, capital changes, and misc. income which requires understanding of various tax treatments for different types of transactions, account types, and methods in which positions are held. This may require reviewing and interpreting private security memorandums in some cases.
- Process distributions and transfers from trust accounts.
- The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.
- May require work in a Midland office to ensure collaboration and support of internal and external customers.
- Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
- Other duties as assigned.
Position Qualifications
Education/Experience:
- Associates degree in business or finance and 3+ years of prior experience in financial services or accounting. Bachelor’s degree preferred.
- Ability to provide quality
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Midland States Bank is an Equal Opportunity Employer and does not discriminate against any applicants for employment based on their race, color, religion, sex (including pregnancy, sexual orientation, or gender identity), national origin, age, physical or mental disability, genetic information, veteran status, uniformed service member status, or any other status protected by law.
