About Working at Commerce 

Building a career here is more than just steps on a ladder. It’s about helping people find financial safety and success, helping businesses thrive, and making sure people and their money are taken care of. And our commitment doesn’t stop there. Our culture is about our people, the ones in our communities and the ones that work with us.  

Here, you’ll find opportunities to grow and learn, to connect with others, and build relationships with the people around you. You’ll have the space and resources to grow into the best version of yourself. Because our number one investment is you.

Creating an award-winning culture doesn't come easy. And after 160 years, we know Commerce Bank is only at its best when our people are. If this sounds interesting to you, keep reading and let’s talk. 

Compensation Range

About This Job

The main purpose of this job is to lead and oversee income processing and related operational activities within Wealth Operations. This role ensures work is completed accurately, efficiently, and in compliance with established policies, procedures, and service expectations.

Essential Functions

• Supervise staff and processes associated with posting of all income related transactions on stocks, bonds, mutual fund, money market funds and non-marketable assets

• Supervise free movement activities on behalf of client accounts to ensure assets held by trusts are reflected timely and accurately

• Provide services for special assets such as Limited Partnerships (LLP), Limited Liability Company (LLC's), LLP's Private placements, and hedge funds when called upon to process in special circumstances

• Monitor and direct daily, weekly, and monthly settlement activity to ensure accurate and efficient processing within the area

• Manage liability associated with income processing to reduce monetary risk, reputational risk with high net-worth clients, exposure to large fee losses from Trust clients, and confidence risk with administrators and portfolio managers 

• Ensure audit and compliance requirements are completed to prevent violations

• Develop comprehensive conversion and testing plans and implement new enhancements with zero defects

• Oversee department workflow and effectively communicate decisions, priorities and relevant information to team members

• Provide guidance to team members on departmental projects/issues, coach and develop training plans, lead development conversations and answer day-to-day questions for team members

• Perform other duties as assigned

Knowledge, Skills & Abilities Required

• Strong knowledge of Trust or security asset types, income processes and depository settlement information

• Intermediate knowledge of Automated Customer Account Transaction (ACAT) and free movement standards of various types of securities instruments, marketable and nonmarketable securities, and knowledge of Global Securities processing via industry depositories (DTCC, Federal Reserve, NSCC, State Street, and BNY Mellon)

• Ability to collaborate successfully with administrative and portfolio managers to exceed Trust client requirements

• Ability to recommend process improvements and recognize project related cross-functional impact

• Ability to coach and develop team members with proven experience to build teams within area of influence

• Self-starter with strong decision-making skills and the ability to effectively communicate and interact with all levels of the company clearly expressing ideas and concepts both verbally and written

• Ability to remain adaptable and resilient in all situations with an optimistic outlook and cast a positive show aligned with our culture and core values

• Intermediate level proficiency with Microsoft Word, Excel, Teams, and Outlook

Education & Experience

• Bachelor’s degree or equivalent combination of education and experience required

• 3+ years of Trust Operations Experience or equivalent required

• 2+ years of asset management experience required

• 1+ year of leadership experience required

• Experience in Management Reporting required

**Level of role is determined by knowledge, experience, skills, abilities, and education.

***For individuals applying, assigned and/or hired to work in areas with pay transparency requirements, Commerce is required by law to include a reasonable estimate of the compensation range for some roles.  This compensation range is for the Supervisor, Income Processing - Wealth Operations or Senior Supervisor, Income Processing - Wealth Operations level job and contemplates a wide range of factors that are considered in determining most appropriate job level and making compensation decisions, including but not limited to location, skill sets, education, relevant experience and training, licensure and certifications, and other business and organizational needs. The disclosed range estimate has not been adjusted for any applicable differentials (geographic, bilingual, or shift) that could be associated with the position or where it is filled. At Commerce, compensation decisions are dependent on the facts and circumstances of each situation. A reasonable estimate of the current base pay is $63,500 to $85,000 annually.

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The candidate selected for this position may be eligible for the following employment benefits: employer sponsored health, dental, and vision insurance, 401(k), life insurance, paid vacation, and paid personal time. In addition, we offer career development, education assistance, and voluntary supplemental benefits.  Click here to learn more.

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