Associate, Conversions
Vestwell
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 350,000 businesses and nearly 1.5 Million active savers, with over $30 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 Conversion Associate! This role plays an integral part in supporting various processes that facilitate conversion plans that onboard to Vestwell’s platform. In this position, you will have the opportunity to manage projects, collaborate cross- functionally with internal stakeholders to enhance our onboarding experience, and provide exceptional service to plan sponsors.
What Will You Be Doing?
- Review and record cash and in-kind asset transfers in the trust accounting system
- Work with sub-custodians to settle trades from the point of booking, through settlement for mutual funds, stable value funds, and ETFs
- Manage all operational aspects of the installation process, including coordinating with Implementation Managers and Investment teams, to successfully transition new and conversion qualified plans onto the Vestwell platform
- Ability to work on the deconversion process, including coordinating with receiving record keepers, to liquidate and transfer plan assets from Vestwell’s platform
- Coordinate with financial advisors, plan sponsors, prior record keepers, sub-custodians, and/or third-party administrators to determine onboarding or conversion timelines, action items with delivery dates for all parties, and communicate overall project status to all interested parties
- Oversee and help ensure other team member action items are completed
- Monitor all outstanding conversion wires, ensuring they are prioritized and brought to completion in a timeline manner
- Update, maintain, and review client data within CRM systems
- Ensure collaboration with all internal teams to meet expected timelines
- Support the creation and maintenance of written operating procedures related to assigned functions
- Research and resolve any issues that arise in the course of these processes
- Provide operational assistance for strategic projects and initiatives
- Demonstrate leadership abilities and strong interpersonal skills
- Drive to engage team members through training and collaboration
- Recommend ideas to facilitate process improvement for the Implementations team
Requirements
The Necessities
- Undergraduate or graduate degree in Finance or Accounting with a strong academic performance record.
- Possess a good understanding of how mutual funds, stable value funds, and ETFs trade and settle
- 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, Asana, Zendesk, and Jira
- Possess a good understanding of how mutual funds, stable value funds, and ETFs trade and settle
- 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 New York City HQ, and will be part of Vestwell's hybrid in-office operation.
The expected base salary range for this position is $60K - $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.
OUR BENEFITS
We’re a growth stage startup with lots of exciting milestones ahead. We value health and wellness at Vestwell and in addition to a dedicated Employee Wellbeing Committee, we offer competitive health coverage and generous vacation offering. We have adopted a hybrid office policy, but all employees are welcome at our bright, comfortable office with many workspace options in midtown Manhattan so everyone has a setting that is the most productive for them. We provide our team with all the equipment they need (plus a few perks!) to work effectively remotely. Oh, and naturally we have a great 401(k) plan!
OUR PROCESS
It starts the same for every candidate: getting to know the team members through 1 - 2 conversations about Vestwell, your experience, and your interests. Next steps can vary by role, but the usual next steps are a skill or experience screen (e.g. a coding interview for an Engineer, a portfolio review for a Designer, deeper experience call for other roles) which leads to a virtual or in-person interview panel after that if the screens go well. Before making an offer, our interview process concludes with a references check stage for your recruiter to meet with a current or former supervisor and peer. We prioritize transparency and lack of surprise throughout the process.
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.