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Trust Collections Specialist II

Wilmington Trust

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Job Snapshot

Location:

Wilmington, DE ( map it!

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Base Pay:

$27,500 - $35,000 /Year

Employee Type:

Full-Time

Industry:

Banking - Financial Services

Manages Others:

Not Specified

Job Type:

Business Development
Accounting
Customer Service
Finance

Education:

2 Year Degree

Experience:

At least 2 year(s)

Post Date:

10/30/2009

Contact Information

Ref ID:

09-0262

Description

The Trust Collections Specialist II processes income and dividend payments to trust accounts upon receipt of payment from depositories. The Trust Collections Specialist II reconciles cash settlements and research payment discrepancies.

Ensures accurate and timely processing of principal and interest payments for mortgaged-backed, government, stocks, municipal bonds and foreign securities.
Updates and verifies interest rate tables in the trust accounting system for variable rate securities.
Verifies the trust accounting system’s principal and interest payments against depository (Federal Reserve & Depositiory Trust Company) records.
Research and identify any payment discrepancies prior to payable date.
Pre-reconcile projected payments totals to the Federal Reserve grand totals.
Research and resolve all posting errors that arise on payable date.
Reconciles the Federal Reserve (FED) and Depository Trust Company (DTC) settlement by collecting all receivables posted in the trust accounting system.
Reports the settlement totals of all funds allocated and collected through the Federal Reserve and DTC.
Monitors suspense and clearing account activity and clear items as necessary.
Compiles statistics for transaction/processing volumes for metrics reporting Maintain accurate and up to date files for daily work.
Makes recommendations to management for process improvements to the daily operations.
Communicates verbally and/or in writing with various depositories and banks and internal customers.

Requirements

Associates Degree preferred or 2 years securities operations experience
Proven math aptitude
Excellent oral and written communication
Proficent in data entry
Calculator and PC proficent
Meet deadlines
Manage a high volume of work and perform tasks simultaneously
Exercise independent judgment
Microsoft Word, Excel, Windows
Global Plus experience preferred
Additional duties may be assigned from time to time or emergency work performed

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