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Trust Operations Specialist

Job ID: R-009104 Date posted: 04/15/2020 Primary Location OH-Cleveland

The Private Trust Company (PTC), an affiliate of LPL Financial, is looking for an entry level Trust Operations Associate.  PTC is a growing, entrepreneurial business located in Cleveland, Ohio, that assists families with financial management issues of all types.  With a concentration on the planning and implementation of transfers of wealth to future generations, charities and community, we offer clients the sophistication of our experienced trust and investment officers, combined with a high level of customer service. 

The Trust Operations Specialist will directly report to the Vice President of Operations and will primarily handle daily posting of trust operational transactions and reconciliation functions, but will also be expected to handle some trust administration, accounting, and compliance responsibilities. 

Operations duties will include:

  • setting-up investment assets on the trust accounting system,
  • posting dividend and interest income transactions to client accounts,
  • posting cash and security deposit and disbursement transactions to client accounts,
  • matching and processing DTC confirmations and settling security trades,
  • distributing and closing client accounts,
  • reconciling mutual fund accounts, posting dividend reinvestment transactions,
  • performing reconciliations of trust accounts,
  • researching, voting and posting capital structure changes in securities,
  • coordinating and executing the production of client statements,
  • daily balancing of accounts with custodians.

This individual will interact with other staff to facilitate and execute proper account closing and trust operations functions. 

This individual will participate in periodic Operational and Compliance Trust Committee meetings, bringing information about activities and transactions to the Committee for review and reporting of issues and adherence to general procedures and practices.

Other duties may include: interacting with clients and client service providers, handling client requests, research, preparing management reports and spreadsheets, compiling securities class-action litigation paperwork.

While no prior experience is required, the ideal candidate will have an undergraduate degree, good computer skills, excellent customer service and communication skills, and 1-2 years’ experience in an administrative role in the trust operations, brokerage, or investment fields.  Additionally, general knowledge and experience in financial accounting, bank compliance, and trust laws such as principal and income accounting laws would be beneficial.   The candidate must be extremely detail-oriented, efficient, organized and focused on accuracy. Increased responsibilities and upward mobility is anticipated over time for high performers.

About LPL Financial:

LPL Financial is a leader in the retail financial advice market and the nation’s largest independent broker/dealer*. We serve independent financial advisors and financial institutions, providing them with the technology, research, clearing and compliance services, and practice management programs they need to create and grow thriving practices. LPL enables them to provide objective guidance to millions of American families seeking wealth management, retirement planning, financial planning and asset management solutions. LPL and its affiliates have more than 4,200 employees with primary offices in Boston, Charlotte, and San Diego.

*As reported by Financial Planning magazine, June 1996-2019, based on total revenue.

Our Culture:

If you join LPL, you will join a culture that believes in delivering a world-class client experience and looks to all employees to contribute to that goal by sharing their creativity, experience, and passion for continuous improvement. As a destination of choice, our top priorities are growth and development, social responsibility, and financial health for our employees. 

We offer competitive compensation and industry leading benefits, including a wellness facility with onsite fitness classes, healthy meal choices, and a walk-in clinic. We support employee financial health through a 401k match, ESPP, and employee discounts. Work/life balance is our foundation and is supported through paid holidays, and paid time off (including time to volunteer). We foster a diverse work environment through Employee Resource Groups and diverse strategic partnerships.  

Join the LPL team and help us make a difference by turning life’s aspirations into financial realities. Please log in or create an account to apply to this position. Principals only. EOE.

Information on Interviews:

LPL will only communicate with a job applicant directly from an email address and will never conduct an interview online or in a chatroom forum.  During an interview, LPL will not request any form of payment from the applicant, or information regarding an applicant’s bank or credit card.  Should you have any questions regarding the application process, please contact LPL’s Human Resources Solutions Center at (800) 877-7210.

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