Position: Assistant Vice President - Operations
Division: New York Private Bank & Trust
Reports To: Senior Vice President - Operations
Employment Status: Full-Time, Exempt
Office Location: 22 Vanderbilt, New York, NY
About Us:
Founded in 1850 as the Emigrant Savings Bank, New York Private Bank & Trust (the holding Company for Emigrant Savings Bank) offers fully integrated investment advisory, trust, lending, and other banking and family office services to serve the needs of wealthy individuals and families.
Essential Responsibilities and Duties:
- Perform comprehensive client-onboarding activities for private banking and trust clients,
inclusive of:
- Preparing required paperwork for new Chairman, Checking, Investment Management
and FIS Trust accounts
- Collecting and preparing documentation to ensure compliance with Anti-Money Laundering/BSA requirements
- Reviewing required documentation & account opening paperwork once signed by client
for completeness
- Sending fully executed documentation & account opening paperwork to onboarding
partners to open the accounts
- Setting up client relationship in Addepar;
- Importing/linking accounts
- Creating fee schedule
- Creating portal views and sending portal activation email
- Emailing quarterly performance reports
- Perform comprehensive client account maintenance activities for private banking clients, inclusive of:
- Preparing & reviewing wire and check requests; Facilitating check deposits
- Instructing & performing cash transfers or asset movement between accounts
- Facilitating account closings and or account transfers
- Processing monthly client management fees; quarterly Pershing fees
- Preparing quarterly ARC materials; administrative reviews for clients
- Perform comprehensive client account opening & maintenance activities for Alternative
Investment clients, inclusive of:
- Notifying clients of capital calls for the USRA Net Lease Funds and other Alternative
Investments
- Coordinating and tracking capital call payments for client funding using in house
accounts
- Confirming distributions for the USRA Net Lease Funds and other Alternative
Investments
- Maintenance of Control Program
- Monitoring of various control reports to assure adherence to corporate and regulatory
control standards
- Prepare documentation for internal & external audits
- Reviewing & updating policy and procedure documents on an annual basis or adhoc as
needed
- Point of Contact
- for clients - reviewing, researching and responding timely to client queries
- for Pershing – account custodian
- for Trust Management Network (TMN) – trust administration platform
- for internal partners around the Bank
- Working closely with Internal Partners
- Investment Management Team
- Relationship Managers
- Division Compliance Officer
- Corporate Compliance Team
- Trust Department
- Subsidiary Accounting
- Treasury Support/Wire Room
Qualifications:
- Strong ability to work independently and with appropriate urgency
- Excellent follow-up habits and attention to details
- Team player willing to roll up their sleeves and work collaboratively across the team and division
to provide the best customer service for clients
- Ability to recognize an issue; offer solutions to address through improving efficiency and
mitigating risk by creating a new control
- Ability to perform effectively in a changing environment due to expansion and functional
realignment
- Adept at multi-tasking, knowing when to escalate and or ask for help with an issue; effective
communicator
New York pay range
$110,000 — $135,000 USD