Alternative Asset Specialist (Hybrid)

Take the next step in your journey. At Millennium Trust Company, you will help businesses and individuals thrive today, tomorrow, and into retirement. Become part of a company that is people centric and client obsessed in every interaction; a community of forward-thinking individuals focused on driving results to deliver our mission with an unwavering commitment to integrity. Join us as we strengthen and simplify the health and wealth journey - relentlessly pursuing better outcomes for all. We believe in finding the best talent! While some roles are based at one of our office locations, remote roles can sit in any of the following states: AL, AZ, FL, GA, IA, IL, IN, MI, MN, MO, NC, NE, PA, SC, TN, TX, UT, VA and WV. Remote status and role locations are subject to change. Relocation is not provided.
Don't meet every single requirement? Here at Millennium Trust, we believe there is no "perfect" candidate and want to encourage applying even if all the requirements listed aren't met. Our goal is to build an authentic workplace by valuing diversity in our candidates. We work to ensure that our team reflects the diversity of the businesses and clients we serve. We are always looking to expand our growing team with dynamic and enthusiastic individuals. If you enjoy a collaborative, fun environment that champions career development, Millennium Trust is the place for you! We look forward to receiving your application! Check out a video on our Company Culture! Millennium Trust Culture

• Typical schedule for this role is Monday to Friday from 8 a.m. CT to 4:30 p.m. CT

HOW YOU WILL SOAR:
The Alternative Asset Specialist will report to the Alternative Asset Manager in the Ops - Securities Operations Department. This role is responsible for maintaining alternative assets held in custody by Millennium Trust Company. Alternative assets include, but are not limited to, limited partnerships, private stock, promissory notes, mortgages, real estate, and precious metals. The Alternative Asset Specialist will initially train in one of three primary team functions - corporate actions, loan administration or transaction confirmations - and then rotate periodically to cover each of the other two areas. The incumbent will work closely with investment sponsors, clients and various internal departments as needed. The ideal candidate will be a problem solver, resourceful, and a great communicator with strong attention to detail, numeric proficiency, and the capacity to multi-task.

• Update client alternative holdings for both mandatory and voluntary corporate action events including mergers and acquisitions, asset conversions and exchanges, IPOs and stock splits. Responsibilities include receiving and interpreting corporate action announcements, preparing needed share and valuation analyses, and recording transactions to ensure that corporate actions are accurately reflected in client accounts.
• Update client alternative holdings for promissory note and mortgage loan events. Responsibilities include monitoring loan holdings and notifications for upcoming events, preparing all required correspondence with clients and note servicers, processing loan activity including extensions, conversions and pay offs, and allocating periodic loan payments.
• Settle client alternative asset purchase and reregistration transactions. Responsibilities include receiving and interpreting transaction confirmations, analyzing information for reasonableness and accuracy, investigating discrepancies, and settling transactions in client accounts.
• This team is also responsible for monitoring and processing activity related to specialty asset classes including real estate, precious metals, warrants, annuities, single member LLCs, and private stock.
• Research, reconcile and resolve any issues that arise in the course of these responsibilities
• Work with the Client Service teams as necessary to obtain required documentation and other information for processing
• Record important notes and supporting documentation within the Client Account Portal
• Actively share ideas and participate in projects to improve and automate department processes
• Help to maintain written operating procedures related to assigned functions
• Effectively communicate and utilize sound judgement to escalate issues to the Team Lead and Manager
• Ensure that work generated consistently adheres to Company policies and procedures and meets established service levels
• Other duties as assigned.

IF YOU HAVE SOME OR ALL OF THE FOLLOWING, APPLY:

• Bachelor's Degree in Business, Accounting, Finance, Mathematics or related field
• 1-3 years of applicable experience
• Ability to be detail-oriented, organized, and dependable
• Possess a strong aptitude for numbers and reconciliations
• Proactive and analytical, able to problem-solve and propose solutions
• Operate efficiently, with a high degree of accuracy and follow-through
• Proven ability to both prioritizes and manage multiple tasks to completion
• Ability to work effectively and accurately under pressure
• Possess excellent verbal and written communication skills
• Operate with a high sense of responsibility and conscientiousness in delivering results
• Optimistic with a consistently positive and flexible attitude
• Demonstrated strong computer aptitude and proficiency with Microsoft Excel, Word, and Outlook
• Ability to maintain the highest quality of service
• Working knowledge of Trust Accounting System, IRAs and alternative assets preferred
• Infrequent travel (5%)
  • Ability to provide personal transportation from time to time
• Occasionally lifts up to 25 pounds
• Ability to work overtime
• Prolonged periods of sitting at a desk and working on a computer

MILLENNIUM TRUST COMPANY is a rapidly growing, leading financial services company offering specialized retirement and institutional services and recently acquired PayFlex, a consumer directed benefits provider, to create a personalized, holistic approach to financial wellness. To that end, we provide a diversified multi-product business with a holistic focus on financial wellness. Millennium Trust has experienced year-to-year double digit growth and prides itself on its strong, progressive culture.
We have been recognized for our remarkable growth on lists such as Crain's Fast 50 and Inc. 5000, and for our outstanding workplace culture and benefits with Built In's 2023 Best Places to Work and Gallagher's 2022 Best-In-Class Employer awards.