Operations Associate (Chicago)

DEARBORN PARTNERS

Job Description: Operations Associate

We have an immediate opening for an Operations Associate. Candidate must be bright, articulate, professional, extremely detail oriented, work well as part of a team, and strive to deliver an exceptional client experience.

This is an exciting and challenging opportunity to partner with Portfolio Managers and Financial Advisors to support all aspects of client servicing and account maintenance for high-net-worth clients. An Operations Associate will perform the following duties:

Private Wealth Trading and Operations

• Generate funds for cash withdrawal requests and invest cash deposits
• Orchestrate block trading requests
• Execute and allocate bond trades
• Execute tax-loss harvesting requests
• Reconcile client accounts to custodian statements
• Rebalance new accounts to proper model portfolio
• Provide support during the account opening and funding process from beginning to successful completion
• Set-up and manage client data and accounts in firm databases
• Follow-up on all ACAT and non-ACAT requests to ensure proper receipt of assets
• Review all client withdrawals, contributions, transfers, and account updates

  Asset Management Trading and Operations

• Review pending/active client accounts for all custodian brokers
• Communicate daily to several custodians regarding intra-day activities
• Open new accounts and deposit cash/securities into accounts
• Handle individual account requests: deposits, withdrawals, terminations & liquidations
• Ensure all accounts are invested in each respective Model Portfolio at proper allocations
• Orchestrate block trading for 10+ strategies
• Communicate with trade desks to ensure proper execution and allocation of block trading
• Weekly review of all cash balances and security drifts in all managed accounts
• Manage our UMA models and their security drifts on a monthly basis
• Trade tax sensitive accounts against our strategies over a 2-3 year period
• Execute tax-loss harvesting requests
• Reconcile client accounts to custodian statements and collect custodian statements

Job Qualifications

The ideal candidate should have a bachelor's degree with a business background (i.e. finance, economics etc.) and excellence in academics. Candidates should have previous experience in brokerage, banking or investment management services. We are looking for an accomplished team player who is detail-oriented with a strong ability to multi-task and work under pressure in a fast-paced environment. They should also possess strong analytical and communication skills (both written and verbal) and an ability to build internal and external relationships. Proficiency in Word and Excel are required. Experience with Advent, Moxy, APL and other trading software is preferred.

The Company

Dearborn Partners provides a wide array of investment management services to high-net-worth families to help them reach specific financial objectives. Dearborn is an independent, privately held investment management firm with 25 employees based in downtown Chicago. 

Salary Range

$65,000 - $75,000 annually