TIAA Director, Trust Operations in Boston, Massachusetts
The Trust Operations role is a leadership role in financial practices and decision making on complex issues affecting the recordkeeping for trusts, annuities, and pooled income funds. This position understands and translates financial standards into controls that meet compliance requirements, has budget and performance accountability, guides key custodians and other financial partners in assuring bookkeeping and accounting accuracy, and examines complex, non-cash client assets and determines how to characterize the financial assets and assesses impact. Provides technical and operational oversight to tax, trust, and portfolio accounting functions.
Key Responsibilities and Duties
Responsible for accurate processing and recordkeeping for all client, donor, beneficiary, program, profile, gift, disbursement, cash, tax, and fee information.
Develops best practices, standards and service level agreements, and establishes operational controls.
Oversees teams that manage all trust lifecycle event processing on a timely basis, establishes productivity and performance standards, and tracks and measures against standards.
Implements and enhances operational and financial controls, policies, and procedures that improve the overall productivity and effectiveness of the operation and reduces risk.
Allocates staff resources across multiple functional areas of trust accounting and operational based on staff expertise and assesses and appraises staff effectiveness.
Manages key relationships and operations with custodians and third parties and is responsible for compliance and risk management for the area.
Drives development and enhancement of operations and accounting systems, including tax, billing, payment, trust administration, portfolio accounting, and trust accounting systems.
Works closely with client teams in processing transactions and problem solving issues and with client reporting team on generating period close data for periodic reporting.
Works with audit and compliance teams, both internal and external, during audit fieldwork and examinations and supports client teams during pre-sales work with subject matter expertise, explanation of procedures and practices.
Collaborates with IT in guiding systems acquisition and development.
5 Years Required; 7 Years Preferred
University (Degree), Preferred
- Physical Requirements: Sedentary Work
- University (Degree)
- 5 years of portfolio operations experience in the financial services industry
7 years of portfolio operations experience in the financial services industry
Prior management experience
Solid Trust Accounting experience
Prior experience with InnoTrust and/or APX
Experience as a thought leader
Good problem solving skills
Continuous improvement experience
Potential Salary: $145,000.00 USD
Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location. In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans).
TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. We offer a wide range of financial solutions, including investing, banking, advice and education, and retirement services.
TIAA requires all U.S. employees to be fully vaccinated against COVID-19 and provide documentation of full vaccination, unless you qualify for an accommodation as determined by TIAA consistent with applicable law.
Benefits and Total Rewards
The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That’s why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being. To learn more about your benefits, please review our Benefits Summary (https://www.tiaa.org/public/pdf/benefits-at-a-glance.pdf) .
We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.
Read more about the Equal Opportunity Law here (https://www.dol.gov/general/topics/posters) .
TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.
If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team:
Phone: (800) 842-2755
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