Headquartered in Houston, Texas with additional branch offices in Dallas, TX Austin, TX, Georgetown, TX, New York, NY and Andover, MA - U.S. Capital Advisors ("USCA") is an integrated financial services boutique with primary business lines in Wealth Management and Capital Markets. USCA's Wealth Management division provides a full range of advisory services and solutions to high-net-worth individuals and family offices. US Capital Advisors invests time, talent, and resources in its skilled and knowledgeable team and promotes a service-focused culture to provide clients and team members with outstanding experience.
Role Description
This is a full-time for an Operations Associate, with a specialized focus on fee billing. The Operations Associate will play a crucial role in ensuring the accuracy and efficiency of our client fee billing process. This individual will be responsible for understanding our tech stack and managing all aspects of fee billing, from generating quarterly debits and refunds with custodians and reconciling accounts to addressing inquiries and resolving discrepancies. The ideal candidate will possess strong analytical skills, exceptional attention to detail, and a commitment to delivering outstanding service to our Advisors and clients.
Role Responsibilities
Coordinate the client fee billing process from start to finish, ensuring timely and accurate generation of invoices based on client agreements and fee schedules.
Collaborate with internal stakeholders, including Financial Advisors, Client Service Representatives, and compliance teams, to gather necessary information for fee calculation and invoicing.
Maintain accurate client fee schedules with billing parameters within the firm's billing system, ensuring compliance with client agreements and regulatory requirements.
Reconcile fee billing transactions, investigating, and resolving any discrepancies in a timely manner.
Respond promptly to Advisor or client inquiries related to fee billing, providing detailed explanations of fees charged and assisting with any billing-related issues or concerns.
Monitor fee billing processes and identify opportunities for automation, streamlining, and process improvement to enhance efficiency and accuracy.
Collaborate with the finance/accounting and operations teams to ensure accurate recording and reporting or fee revenue and accounts receivable balances.
Provide management with regular KPI reporting related to fee billing revenue.
Stay informed of industry best practices, regulatory changes, and technological advancements relating to fee billing operations, and make recommendations for enhancements as needed.
Assist with special projects and initiatives related to fee billing, client account administration and operational efficiency.
Qualifications
Bachelor's degree in finance, accounting, business administration, or related field.
Minimum of 2 years of experience in a similar operational role within the financial services industry, preferably at a registered investment advisor or wealth management firm.
In-depth knowledge of custodian and operational systems used in wealth management, such as portfolio management, billing, and trading platforms. (Black Diamond and Orion client billing experience preferred, Schwab and Fidelity platform experience preferred).
Strong understanding of fee billing processes and practices within the investment management industry, including fee calculation methodologies and regulatory requirements.
Proficiency in using billing systems to reconcile accounts and process fee schedules.
Excellent analytical skills and attention to detail, with the ability to identify and resolve discrepancies accurately and efficiently.
Exceptional communication and interpersonal skills, with the ability to interact professionally with Financial Advisors and clients.
Proven ability to managing priorities and deadlines effectively in a fast-paced environment.
Strong problem-solving skills and a proactive, results-oriented mindset, with a commitment to delivering high-quality work.
Strong understanding of regulatory requirements governing financial services operations, including SEC and FINRA regulations.
Proactive self-starter with a demonstrated ability to take initiative and drive projects forward.
Strong sense of ownership and accountability, with a track record of delivering results in a dynamic and fast-paced environment.