Associate, Custody Operations

Vestwell is the financial technology company powering the new savings economy. The New York City-based fintech platform redefines how people save for the critical aspects of life across retirement, education, and healthcare savings needs. Today, Vestwell enables over 790,000 businesses and more than 2.75 million active savers, with over $57 billion in assets saved across all 50 United States.

Vestwell offers a range of products, including workplace-delivered retirement plans, employer-offered student loan repayment benefits, and various savings accounts for education, emergencies, and individuals with disabilities.

Vestwell's platform serves a diverse clientele, including financial advisers, employers, third-party administrators, financial institutions, payroll providers, government agencies, and individual savers. To learn more, visit vestwell.com

Who Are We Looking For?

Vestwell is growing and looking for a Custody Ops Associate! This role plays an integral part in the day to day processing and monitoring of plans on Vestwell’s platform. In this position, you will have the opportunity to collaborate cross- functionally with internal stakeholders to provide exceptional service to plan sponsors.

What Will You Be Doing?

• Review incoming cash, wires, and checks coming onto our trust accounting system

• Processing of corrections on a plan and participant level on a daily basis

• Work with sub-custodians to settle trades from the point of booking, through settlement for mutual funds, stable value funds, and ETFs

• Respond to a high volume of complex operational correctional issues for internal teams

• Identify and resolve discrepancies in Cash and Share balances

• Oversee and help ensure other team member action items are completed

• Ensure collaboration with all internal teams to meet expected timelines

• Support the creation and maintenance of written operating procedures related to assigned functions

• Oversee and audit record-keeping and plan administration components

• Monitor deliverables and ensure timely completion of team projects

• Investigate and reconcile discrepancies in data and remediate accordingly

• Strong written communication, critical thinking and organizational skills

Requirements The Necessities

• Undergraduate or graduate degree in Finance or Accounting with a strong academic performance record

• Possess a strong aptitude for numbers, and understanding of cash and traditional securities reconciliations

• Demonstrate an affinity for learning, creating, and iterating rapidly

• Proactive and analytical, able to problem-solve and propose solutions

• Demonstrate a high degree of organization and dependability

• Ability to prioritize tasks and manage client expectations

• Ability to use excel at a high level

The Extras

• Experience with collaboration, project management, and CRM tools such as Google Workspace, Slack, Salesforce, Zendesk, and Jira

• Possess a good understanding of how mutual funds, stable value funds, and ETFs trade and settle

• Familiarity with custodial platforms, such as Matrix or Schwab

• General knowledge of ERISA rules and requirements, and experience with one or more compliance / record-keeping systems (e.g. SunGard Relius, ASC, FIS)

• Qualified 401(k) Administrator (QKA) or higher ASPPA credentials

• Relevant record-keeper experience

This role will be based in our King of Prussia office, and will be part of Vestwell's hybrid in-office operation.

The expected base salary range for this position is $55K - $70K base. This position is eligible to participate in the Company Bonus Pool and is eligible to receive new hire equity in the Company. Please note that salary bands are based on NY and other similar metro areas and may differ based on where the role is ultimately hired. Full-Time Employee Benefits We’re an innovative, high-growth company with an exciting future ahead. At Vestwell, we prioritize employee wellbeing through comprehensive health benefits, generous time off, and a dedicated Employee Wellbeing Committee. Our hybrid work model offers flexibility while providing access to our collaborative offices in Midtown Manhattan, Austin, King of Prussia, and Scottsdale. And, of course, as a company focused on helping people save for the future, we offer a competitive 401(k) plan.

Interview Process Our interview process starts the same for every candidate with 1-2 introductory conversations to learn more about your background, interests, and what you're looking for, while also giving you the opportunity to learn more about Vestwell and the team. From there, the process varies by role but typically includes a skills or experience-based assessment, such as a coding interview, portfolio review, or deeper discussion of your relevant experience. Successful candidates then move on to a virtual or in-person interview panel. Before extending an offer, we complete a reference check with a current or former manager and a peer. Throughout the process, we prioritize transparency, clear communication, and minimizing surprises.

For your awareness you will only receive correspondence from [email protected] any other domain not ending in vestwell.com is not our Recruitment team.

Vestwell’s Privacy Policy. Attention California residents: In the course of conducting our business and complying with federal, state, and local government regulations governing such matters as employment, tax, insurance, etc., we must collect Personal Information from you. Should you accept employment with Vestwell you may view our California Privacy Rights Act here: Vestwell’s California Privacy Rights Policy.