Escrow Management Service - Escrow Operations

Bank of America•Scranton, PA

2d•Onsite

About The Position

This job is responsible for analyzing the day-to-day issues, researching, and providing resolution for various issues identified within a business unit. Key responsibilities include building new procedures, completing complex non-routine analytics, creating reports, and reviewing exception testing and processing. Job expectations include supporting continuous improvement of processes by identifying trends and understanding the operations environment. LOB Job Description: This job is responsible for supporting validation and processing work for the Escrow Management Service (EMS) product activities. Form W-9 and W-8 validation is heavily emphasized as it relates to 1099 and 1042 reporting. The candidate will act as the final reviewer on escrow sub account setups and sub account maintenance for tax-related activities for EMS account customers. Key responsibilities to include reading, analyzing and/or determining the appropriate decision point when verifying mainframe records against W9 and W8 Forms, timely and accurately processing incoming W9 Forms to an internal service mailbox, which includes casing and coding requests for processing and record retention purposes. Candidate will also be responsible for research and resolution of reject/mismatch items. Candidate will work with internal and external business partners/clients as needed. Other responsibilities include assisting with procedural reviews, internal audits, gathering statistical information and producing monthly reports for the bank's Enterprise Independent Testing Team. Conduct simple/complex research and provide timely responses to inquiries by utilizing the various bank systems to support client requests. The candidate must actively support a team environment and quickly shift priorities while focusing on the needs of our customers while maintaining an organized approach to managing daily activities and simultaneously handling multiple demands to achieve optimal efficiency and productivity. The candidate should be able to work quickly without sacrificing quality and should also demonstrate the ability to build effective relationships with business partners and clients. Provides guidance to associates within own unit regarding procedural, technical and/or operational changes. Incumbents should have a full working knowledge of operations acquired through experience in an operations environment and on the job training. Individuals typically have 2 to 4 years of experience.

Requirements

Individuals typically have 2 to 4 years of experience in banking and/or treasury management services
Intermediate proficiency (1-3 years of experience) in written (including grammar and spelling) and verbal communications.
Ability to analyze and resolve discrepancies when reviewing mainframe application against the setup form and/or tax form.
Strong attention to detail.
Mainframe, ImageView, IMPACS, IDS experience.
Previous positions must have included inline or post-process verification activities.
PC proficiency - experience with all Microsoft Office applications, particularly Excel and Microsoft Access Databases.
Experienced in writing and modifying procedures.
Manages multiple priorities with attention to detail
Some working knowledge of tax forms, 1099s / 1042s
Strong business partnering and relationship management skills
Self-motivated; able to work unsupervised
Strong time management and task prioritization skills with the ability to manage their own time and tasks
Able to ask critical questions to identify opportunities
Manages risk effectively

Nice To Haves

Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
Excels in working among diverse viewpoints to determine the best path forward
Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner
Commitment to challenging the status quo and promoting positive change.
Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world