Brokerage Operations Representative

New York Life•New York, NY

33d•$40,000 - $55,000•Hybrid

About The Position

The NYLIFE Securities Cashiering Operations Representative will be responsible for working with clients to resolve highly sensitive, time critical issues with financial implications. They will be processing time-sensitive customer transactions that require review, research and communication with agents and clients to obtain proper course of action. General Description Must like working with clients to resolve highly sensitive, time critical issues with financial implications Works within established procedures and controls with a moderate degree of supervision Must be able to work in a high-volume department with time sensitive customer transactions that require review, research and communication with agents and clients on a timely basis to obtain the proper course of action Meet established individual performance expectations and operate in a team environment to contribute to the company and team goals Responsible for the accurate, efficient data entry, electronic updating and processing of a multitude of basic and advanced money movement transactions (check and stock deposits, check, EFT and wire disbursements, rollovers, DTC, journals, establish bank and brokerage links, standing instruction periodic investment plans to/from client's bank accounts, responsible for several reports, and Roth Conversions for Retail and Retirement brokerage accounts) Respond to inquiries in a timely, efficient, and professional manner by quickly identifying the need and formulating an accurate response or solution. Technical Expertise: Understands how the assigned duties relate to others in the team and how the team integrates with others in the discipline Learn and maintain a strong working knowledge of multiple systems including mainframe systems, products, and services. These systems will be used to look up account data and process the client requests. There are many codes, screens, and data flows that must be used to accurately respond to client inquiries and complete their requests Learn and maintain an understanding of IRS, FINRA, SEC, DOL, and other regulatory agencies rules and guidelines. Learn and maintain a basic understanding of core products in relation to brokerage accounts. Leadership: Has no supervisory responsibilities; manages own workload The Brokerage Operations representative must display self-confidence, professionalism and remain composed during stressful high volume periods. Being a team player is necessary to work together to complete the daily workload. Expected to work with minimal daily supervision on their assigned work in all related queues Problem Solving: Recognizes and solves typical problems that can occur in own work area without supervisory approval; evaluates and selects solutions from established options. Escalates more complex issues to a manager on a timely basis. The Brokerage Operations representative must be organized and understand procedures, documentation and client account data. Our agents and clients will be looking for accurate processing of their requests and solutions to any unique requests. Knowing the department procedures and tools provided will be critical to a timely and proper resolution to client requests. Decision Making / Nature of Impact: Impacts own team through the quality of the services or information provided; follows standardized procedures and practices and receives regular but moderate supervision and guidance Brokerage Operations representatives must use their experience to make sound judgements along with interpreting the meaning of client requests. Must analyze forms/requests to evaluate and determine compliance with our standards. If the request is in good order, then it must be correctly processed on a timely basis. If the request is not in good order, then an immediate call must be made to the agent or client. Following up on tasks and requests until completion is paramount to providing our agents and clients with excellent service. Communication Requirements: This position requires a customer-focused attitude. It will require good communication with both internal and external sources The representative is expected to simplify and improve the client experience with our firm

Requirements

Bachelor's degree- Finance and Business discipline preferred; High school diploma or GED required
2+ years of experience in the Financial Services industry, with understanding of stocks, bonds, and mutual funds and industry regulations/procedures required
Excellent verbal and written communication skills
Positive, customer focused attitude with a desire to exceed customer expectations
Must be able to operate in a team environment and contribute to the company and team goals
Strong technical and analytical skills required
This role requires FINRA licensed and/or FINRA Associated Person fingerprinting

Nice To Haves

Ideal candidates will pursue the SIE & Series 7 FINRA licenses

Responsibilities

Electronic updating and processing of money movement transactions, including check and stock deposits, check, EFT and wire disbursements, rollovers, internal journals, establishing standing payment instructions, periodic investment plans, and Roth Conversions for brokerage accounts
Responding to customer and agent inquiries in a timely, efficient, and professional manner by quickly identifying the need and formulating an accurate response or solution
Learn and maintain an understanding of IRS, FINRA, SEC, DOL and other regulatory agencies' rules and guidelines
Learn and maintain a basic understanding of core products in relation to brokerage accounts
Demonstrate advanced knowledge of operational procedures, company policies, and industry principles

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