Mutual Fund Services Manager

Mid Atlantic Capital Group, Inc. - Pittsburgh, PA (30+ days ago)

Full-time

Mid Atlantic Capital Group and its affiliated companies (Mid Atlantic Trust Company, Mid Atlantic Capital Corporation, and Mid Atlantic Financial Management, Inc.) is a leading provider of first-class custody, brokerage, trade processing, and financial services technology. Our broker/dealer, registered investment advisor, and trust company serve:

  • More than 60,000 retirement plans and trust accounts, representing approximately 9% of all U.S. 401(k) plans
  • Over 10,000 financial advisors
  • 500 financial institutions on behalf of more than 75,000 customer accounts and one million beneficiaries

The mission of Mid Atlantic is to provide the best available financial products, services, and operational support to a select group of financial professionals and organizations for the benefit of their clients. We are dedicated to helping our business partners provide first-class service to their clientele. You will find us committed to teamwork, innovation, and reliability. As our custody, brokerage, trade processing and advisory businesses have surpassed the $70 billion mark in account assets, we know this commitment is working — for us and for those who rely upon us. We pride ourselves on meeting the most challenging demands of leading institutions, financial advisors, and their clients.

JOB DESCRIPTION:

  • Provide senior leadership to the Fund Services and Home Office Services teams responsible for mutual fund and advisor fee collections and disbursements
  • Role includes supervisory function for oversight and training of other team members in collaboration with the Fund Relationship Manager
  • Use Mid Atlantic proprietary system (TNS) to perform billing of 12(b)1 trails and sub transfer agent/shareholder service fees from over 200 mutual fund companies
  • Reconcile fund payments against receivables and perform collection services for delinquent payments
  • Triage with Mid Atlantic operations teams to resolve any shareholder registration issues impacting collections
  • Work with Fund Relationship Manager and fellow team members in management of fund company selling and servicing agreements impacting the billing and collection process
  • Work with the Accounting team to perform and reconcile payments and cash movement between bank accounts
  • Manage outbound payments to third party dealers and registered investment advisors for support of levelized compensation and 12(b)1 common remitter products
  • Triage inbound inquiries from brokers and advisors regarding payments
  • Have responsibility for creation and maintenance of formal written procedures for both teams
  • Function as primary owner of internal procedures in interfacing with Mid Atlantic Internal Audit group as well as external auditors for preparation of SOC and FICCA audit reports
  • Participate in presentations to fund companies during on-site visits
  • Support Compliance in completion of fund company due diligence inquiries
  • Maintain internal database (TNS) including fund payment formulas, fee terms, and other fund research elements by translation of fund agreements into TNS parameters, working with the fund companies to clarify terms as needed
  • Support Operations in research of fund information including redemption fee policies, soft closes, share class conversions, and other operational and compliance concerns

Background

  • The ideal candidate will have 5 to 7 years of experience in mutual fund, brokerage, custodial, and/or transfer agent operations
  • Knowledge of NSCC trading and commission processing desired
  • 3 to 5 years of supervisory experience desired
  • Excellent written and verbal communication skills
  • Proficient in Word, Excel, and Outlook
  • Must be motivated and disciplined self-starter and problem solver
  • Strong organizational skills required

Hours: 8:30am to 5:30pm Monday - Friday

COMPENSATION:

Compensation will be comprised of a competitive base salary, bonus tied to results, and a benefit package that includes health, dental, life, vision, paid vacation and personal time off, and 401(k) match after eligibility periods. 90-day probationary period applies.

PRINCIPALS ONLY

No phone calls

Job Type: Full-time

Experience:

  • NSCC trading and commission processing: 1 year (Preferred)
  • mutual fund: 5 years (Preferred)
  • supervisory: 3 years (Preferred)

Work authorization:

  • United States (Required)