What are the responsibilities and job description for the Operations Specialist, Mutual Funds position at DriveWealth?
DriveWealth is a global B2B financial technology organization dedicated to democratizing access to financial independence around the world. Our mission is realized through an API-based platform, empowering our partners to offer seamless investing and trading experiences to clients worldwide, all from their mobile devices.
Our technology provides partners with a modern, extensible toolkit, enabling traditional investment workflows and innovative techniques like fractional share ownership. DriveWealth has evolved into a global platform offering trading of US equities, mutual funds, ETFs, fixed income, and options.
We seek enthusiastic professionals to contribute diverse perspectives and experiences to our Brokerage-as-a-Service platform. Our culture blends the pace and opportunity of a tech start-up with the impact, stability, and significance of Wall Street. We encourage creativity and experimentation while ensuring institutional-grade execution and regulatory compliance in everything we do. We value diversity and inclusion, celebrating the unique differences of our employees as we scale and grow together. We're guided by operating principles grounded in accountability, teamwork, integrity, and solutions built to scale. Join us!
About the Role
We are seeking a highly organized and detail-oriented Mutual Funds Operations Associate to join our team. This individual will be responsible for managing and overseeing the day-to-day operations related to mutual funds, ensuring accurate and efficient processing of transactions, settlements, and compliance with industry regulations. The ideal candidate will have a strong understanding of mutual funds and financial operations and a passion for delivering high-quality service in a fast-paced environment.
What You'll Do
- Process and verify mutual fund transactions, including purchases, redemptions, and transfers, ensuring accuracy and timeliness
- Reconcile mutual fund transactions and balances to ensure consistency between internal records and custodian data
- Monitor and track mutual fund settlements, ensuring timely processing and resolving discrepancies
- Perform daily and monthly reconciliation of mutual fund accounts and resolve any exceptions or issues
- Coordinate with external fund managers, custodians, and brokers to ensure smooth transaction execution
- Contribute to process improvements by identifying inefficiencies and suggesting enhancements to operations
- Monitor and track mutual funds transfers (ACAT,B52)
- Collaboration and communication across diverse teams
What You'll Need
- Bachelor's degree in Finance, Business Administration, Economics, or related field
- 2-3 years of experience in mutual funds operations, financial services, or a similar role
- Deep understanding of mutual fund operations, including trade execution, settlement, transfers (ie ACAT) and reconciliation processes
- Familiarity with financial products, systems, and platforms used in fund operations (e.g., DTCC,NSCC,Inteliclear,Phase3 or similar tools)
- Python and SQL skills (preferred, not required)
- Proficient in Microsoft Excel and other Microsoft Office Suite applications
- Knowledge of regulatory requirements related to mutual fund operations (e.g., SEC, FINRA) is a plus
- Series 99 or willingness to obtain within 12 months
Applicants must be authorized to work for any employer in the U.S. DriveWealth is unable to sponsor or take over sponsorship of an employment Visa at this time
Compensation
Compensation package offerings are based on candidate experience and technical qualifications, as it relates to the role. These are identified and determined throughout your interviewing experience.
Please note: this role is expected to come into our office on a cadence set by the Hiring Manager/Team.
Benefits
- Competitive medical, dental, and vision insurance options
- Mental Health and family planning services
- Unlimited paid time off with ten observed holidays
- 16 weeks of paid parental leave for biological and adoptive parents
- Pre-tax commuter benefits
- $2,500 each year to invest in continued education and personal development
- $75 a month in fitness and wellness reimbursement
- Company-provided phone
- Hybrid work experience that allows for flexibility
- For in-office employees, a daily lunch stipend, unlimited snacks, and engaging office space in the Financial District
*The benefits outlined above are for US employees, benefit offerings vary based on location
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.
TO ALL AGENCIES: Please, no phone calls or emails to any employee of DriveWealth outside of the Talent organization. DriveWealth's policy is to only accept resumes from agencies via Greenhouse (ATS). Agencies must have a valid services agreement executed and must have been assigned by the Talent team to a specific requisition. Any resume submitted outside of this process will be deemed the sole property of DriveWealth. In the event a candidate submitted outside of this policy is hired, no fee or payment will be paid.
Salary : $100,000 - $130,000
