As a Treasury Operations Associate on the Flourish team, you will report to the Treasury Operations Lead and partner closely with Flourish’s cash, client support and strategic partnership teams on the daily treasury operations. You will work closely with our banking partners on our brokered sweep program and assist in the onboarding of new program banks. You will be responsible for operational activities on a daily basis and collaborating with internal and external stakeholders. As part of a sma... more details
Treasury Operations Associate, Flourish
Full-Time, New York City
The Opportunity
As a Treasury Operations Associate on the Flourish team, you will report to the Treasury Operations Lead and partner closely with Flourish’s cash, client support and strategic partnership teams on the daily treasury operations. You will work closely with our banking partners on our brokered sweep program and assist in the onboarding of new program banks. You will be responsible for operational activities on a daily basis and collaborating with internal and external stakeholders. As part of a small team, this role will be a hands-on opportunity to work closely with senior members of the organization and gain valuable operations experience.
The Team
Flourish was founded in 2017 with the goal of helping financial advisors to better secure the financial futures of their clients. We focus on independent Registered Investment Advisers (RIAs), delivering financial products that advisors can’t easily access today through beautiful, scalable, and easy-to-use technology.
Today, we work with over 700 RIAs that collectively represent more than $1.5T in assets under management across three products: Flourish Annuities, Flourish Cash, and Flourish Crypto. Headquartered in New York City, we are an independently operating, wholly owned subsidiary of MassMutual Life Insurance Company.
Read on if you are interested in joining a small, highly collaborative, rapidly growing startup—backed by the support and stability of a Fortune 500 company.
The Impact
You believe that details matter and think that triple checking your work to ensure accuracy is the minimum standard. You are thoughtful about risk and learn quickly from your mistakes. You like to understand how things work and are interested in finding ways to make established processes more streamlined and efficient. You like working together with like-minded individuals to solve problems and contribute to a team objective. With experience in middle or back office operations at a registered broker dealer or bank, you are excited to dive in and make a direct impact on our daily operations.
Responsibilities:
Facilitate daily cash movement of customer funds within the brokered sweep program as well as movement of funds between Flourish products and entities
Perform daily cash reconciliation of customer cash within the brokered sweep program and responsible for all commentary that is shared internally and with external auditors
Run proprietary algorithm to derive the most optimal distribution of customer funds among brokered sweep program bank partners. Lead investigation to resolve any issues
Communicate, calculate, and settle all monthly interest including a full reconciliation of all program banks
Aid in onboarding of new banks, ensuring that all documentation is completed accurately, and supporting external relationships with third party vendors
Interact with processing and program banks in the sweep program and interact regularly with executives at banks or service providers to help resolve complex issues
Pull and prepare materials for internal and external Audit, and other regulatory agencies
Identify and implement opportunities for efficiency gains across the team functions and in the Flourish ecosystem
Manage independent projects on behalf of the senior leadership team and CEO with minimal oversight
The Minimum Qualifications
Bachelor’s degree
2+ years experience in operations and/or treasury focused function from hedge fund, asset manager or large bank
Current holder of FINRA Series 99 or willing to get one within the first 90 days of employment
2+ years working with various USD payment rails and infrastructure (i.e. Fedwire, SWIFT, CHIPS, ACH, etc.)
2+ years in SEC/FINRA Broker Dealer regulated institutions such as 15c3-1 Net Capital rules and 15c3-3 Customer Reserve rules
The Ideal Qualifications
Experience working various cash and/or fixed income products a plus
Proven track record and keen eye for process improvement and streamlining procedures
Reliable, eager, ambitious, self-starter, strong attention to detail a must
What to Expect as Part of MassMutual and the Team
Regular collaboration with the Flourish team
Focused one-on-one time with your manager
Access to mentorship opportunities
Networking opportunities including access to Asian, Hispanic/Latinx, African American, women, LGBTQ, veteran and disability-focused Business Resource Groups
Access to learning content on Degreed and other informational platforms
Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits
Salary Range:
$84,100.00-$110,300.00
At MassMutual, we focus on ensuring fair equitable pay, by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component.
Why Join Us.
We’ve been around since 1851. During our history, we’ve learned a few things about making sure our customers are our top priority. In order to meet and exceed their expectations, we must have the best people providing the best thinking, products and services. To accomplish this, we celebrate an inclusive, vibrant and diverse culture that encourages growth, openness and opportunities for everyone. A career with MassMutual means you will be part of a strong, stable and ethical business with industry leading pay and benefits. And your voice will always be heard.
We help people secure their future and protect the ones they love. As a company owned by our policyowners, we are defined by mutuality and our vision to put customers first. It’s more than our company structure – it’s our way of life. We are a company of people protecting people. Our company exists because people are willing to share risk and resources, and rely on each other when it counts. At MassMutual, we Live Mutual.
MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
At MassMutual, we focus on ensuring fair, equitable pay by providing competitive salaries, along with incentive and bonus opportunities for all employees. Your total compensation package includes either a bonus target or in a sales-focused role a Variable Incentive Compensation component. For more information about our extensive benefits offerings please check out our Total Rewards at a Glance.