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Fund Services and Custody Operations Manager

Location Boston, Massachusetts, United States; San Francisco,California,United States;Boston,Massachusetts,United States;Lone Tree,Colorado,United States;Other,California,United States; Requisition ID 2022-77542 Category Operations Position Type Regular CO Salary Range 78,200-140,800
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Your Opportunity

Schwab Asset Management (SAM) is the asset management arm of the Charles Schwab Corporation. The SAM team is passionately committed to helping investors achieve their financial goals. Our organization provides clients guidance and education through investment research and financial planning support. We manage a $2.6 trillion platform that allows investors to implement that guidance by selecting among thousands of investment products from hundreds of asset managers, including over $600 billion in Schwab managed mutual funds, ETFs, and managed accounts. SAM offers advisory services, discretionary portfolio management and decision-making tools, as well as Schwab’s Wealth Advisory management offering. At SAM, we live an inclusive culture that drives increased diversity, builds a stronger community, creates high employee engagement, and provides professional growth for all employees, making us a top employer in the money management business.

What you are good at

It is the goal of the CSIM Fund Services team to actively contribute to the success of our proprietary mutual fund and exchange traded fund businesses. The Manager position within Fund Services will play an important role in the day-to-day oversight of custody operations. Strong analytical skills and high attention to detail are critical competencies in this manager role as the market is constantly evolving. Key responsibilities include vendor oversight, third-party repurchase agreements, global and tax documentation in various local markets, monthly substantial holdings monitoring and reporting for the Schwab and Laudus Funds, Schwab ETFs, and separately managed accounts, proxy voting, fund liquidity oversight, securities lending program management, class actions filing oversight, failed trade resolution, and cash and security reconciliation (domestic and global). Internal reporting related to the daily custody operations of the Schwab and Laudus Funds and Schwab ETFs is used to capture the critical elements of custody operations and the value of the Manager.

Key activities include, but are not limited to:

  • The Manager will be required to apply analytical skills with impeccable attention to detail to the oversight and execution of the following functions: third-party repurchase agreements, global and tax documentation, monthly substantial holdings monitoring and reporting for the Schwab and Laudus Funds, Schwab ETFs, and separately managed accounts, fund liquidity, securities lending, TMPG collateral oversight, class actions and proxy voting. Success in this role depends on using analytical and attention to detail skills to all aspects of the role.
  • The role requires the Manager to transition from one task to another daily to perform different responsibilities of varying nature.
  • The Manager will be required to collaborate and develop a strong partnership with internal and external business partners to successfully implement oversight tasks, including custodians, fund accountants, lending agents, portfolio managers, traders, credit team, lawyers, brokers, and other third-party service providers.
  • Perform risk and control oversight of internal and vendor processes, while ensuring deadlines are met, data is accurate, and the end-product makes valuable contributions.
  • Facilitate various aspects of the onboarding and maintenance of third-party Repurchase agreements, including contract negotiations, annual counterparty reviews, weekly and monthly meetings.
  • Prepare, review and coordinate with global custodians and internal partners the execution of varying global market documentation, including but not limited to the following:
  • Sub-custodian account opening documentation for 40 Act mutual funds and ETFs in various markets
  • Submission and maintenance of global tax forms and proxy voting Power of Attorney documentation
  • Daily review of global market updates and timely dissemination of information to Portfolio Managers, Traders, Middle Office, Fund Accounting, Tax and Pricing teams. Ability to analyze applicability of information to our funds and clarify with custodians questions as they arise
  • Communicate back and forth with custodians, Portfolio Managers, Traders, Middle Office, Fund Accounting, Tax, and other business partners on all aspects of global documentation (including US market developments)
  • Lead and evolve the Fund Services’ Manager role to offer valuable services to our portfolio managers, trading operations and risk teams by communicating cash needs and facilitating drawings and payments of fund liquidity sources.
  • Follow up on cash and share reconciliation exceptions, failed trade settlement, and outstanding corporate actions.
  • Provide daily oversight support and reporting of securities lending to ensure lending agents align with our lending guidelines and adhere to regulatory requirements.
  • Research information on custodial websites and attend Webinars offered by our custodians and third-party providers on global markets or other custody related topics.
  • Lead accurate data collection (mostly in Microsoft Office and SharePoint), record retention, monitoring and reporting efforts for various trading, custody and securities lending functions constantly striving for process efficiencies to accommodate scalability. Prepare daily, monthly and quarterly reporting.
  • Business decision support with projects and contract negotiations with outside vendors, legal team, and senior management.

What you have

  • BA/BS required with3 to 5 years of related financial services experience preferred. Knowledge of mutual funds and exchange-traded-funds (ETFs), and fund accounting/custody experience is a plus.
  • Experience with global market account applications/documentation for 40 Act mutual funds preferred but not required.
  • Strong analytical skills, impeccable communication skills and superb attention to detail. Ability to focus on attention to “details” in production of and interpretation of reports.
  • Ability to transition from one task to another daily to perform different responsibilities of varying nature.
  • Ability to apply specialized knowledge within area of expertise and understand the broader impact on the company.
  • Ability to work on problems of diverse scope where “analysis” of data requires evaluation and intangible factors.
  • Ability to flawlessly complete the details while keeping the big picture in mind.
  • Resolve a wide range of issues by applying judgment and technical know-how to identify creative ways to complete assignments with little to no instructions.
  • Improve processes and influence others to take action.
  • Demonstrate good judgment in selecting methods and techniques for obtaining solutions.
  • Results oriented and drive execution.
  • Strong computer skills and knowledge of Microsoft Office.
  • Knowledge of custody, fund accounting or financial services business.
  • Knowledge or willingness to learn about cash management, securities lending, and global markets.
  • Strong interpersonal, problem solving and organizational skills.
  • Ability to work independently and as a team on performing risk and control oversight of internal and vendor processes, while ensuring deadlines are met, data is accurate, and the end-product adds new value.
  • Ability to communicate effectively, both verbally and in written form, with all levels of management and build effective working relationships with business partners and vendors.
  • Ability to multi-task in a changing environment, prioritize accordingly and make executive decisions.

Colorado Compensation

Target Total Compensation – 78,200-140,800

Your actual pay will be based on your skills and experience -- talk with your recruiter to learn more.

Why work for us?

Own Your Tomorrow embodies everything we do! We are committed to helping our employees ignite their potential and achieve their dreams. Our employees get to play a central role in reinventing a multi-trillion-dollar industry, creating a better, more modern way to build and manage wealth.

Benefits: A competitive and flexible package designed to empower you for today and tomorrow. We offer a competitive and flexible package designed to help you make the most of your life at work and at home—today and in the future. Explore further.

Schwab is committed to building a diverse and inclusive workplace where everyone feels valued. As an Equal Opportunity Employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law. Please click here to see the policy.

Schwab is an affirmative action employer, focused on advancing women, racial and ethnic minorities, veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at or call 800-275-1281.

TD Ameritrade, a subsidiary of Charles Schwab, is an Equal Opportunity Employer. At TD Ameritrade we believe People Matter. We value diversity and believe that it goes beyond all protected classes, thoughts, ideas, and perspectives.

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