Institutional Account Administrator II

Fifth Third Bank • Farmington Hills, MI

6d

About The Position

Fifth Third Bank is hiring an Institutional Account Administrator II to support a group of custody accounts with greater complexity and/or risk. Under general supervision, the role supports Relationship Managers and serves as a primary contact for clients and their business partners, acting as a liaison among clients, relationship management, and back-office processing operations. The administrator follows department procedures and deadlines, supports regulatory compliance, delivers exemplary client service, and works with operations, technology, and relationship management to improve service delivery.

The role verifies and approves daily processing activities for an assigned custody team and independently monitors, reviews, and balances account activity. This activity includes global and domestic cash flows, foreign exchanges, income repatriation, physical securities handling, overdrafts, failed trades, and account maintenance in internal systems. The administrator researches and resolves client and operational issues, escalates concerns through established channels, and may serve temporarily in a lead capacity when supervisory coverage is limited. The role may also back up the Global Custody Services Supervisor, assist with special projects, train and mentor new team members, and serve as a control point for compliance requirements.

The position is located in Farmington Hills, Michigan. It is eligible for incentive compensation, with payments based on company, line-of-business, and/or individual performance. Fifth Third describes its benefits programs as supporting employees’ and families’ physical, financial, emotional, and social well-being.

Requirements

• Bachelor’s degree in business, finance, accounting, or a related field, or equivalent work experience.
• At least 2 years of experience as a Global Custody Administrator I, or 4 years of experience in the financial services industry.
• Excellent customer-service skills and a strong service orientation.
• Excellent written and verbal communication skills, including the ability to communicate effectively on behalf of the Bank with internal and external clients.
• Experience in an environment emphasizing individual accountability and team-based performance.
• Excellent interpersonal and relationship skills.
• Ability to manage multiple client accounts and projects with varying priorities and deadlines.
• Ability to exercise independent judgment and handle confidential information.
• Ability to recognize potential problems and formulate timely solutions.
• Familiarity with securities systems and technology, securities products, and industry trends.
• Ability to use Microsoft Office software, including Excel, Word, and Outlook.
• Resourcefulness and results orientation.

Nice To Haves

• Experience in securities processing, mutual fund operations, or a brokerage operations environment.
• Familiarity with Fifth Third Direct, BNY Mellon’s Workbench, Mobius, ACE, Bloomberg, Depository Trust Company, Xcitek Solutions Plus, Fee Advantage, and Roscoe.

Responsibilities

• Understand client expectations and operating requirements to ensure service-level standards are exceeded.
• Independently serve as the primary point of contact and support for assigned complex and/or higher-risk custody accounts.
• Monitor, review, and balance account activities involving global and domestic cash flows, foreign exchanges, income repatriation, physical securities handling, overdrafts, failed trades, and account maintenance in internal systems.
• Verify and approve daily processing activities within the assigned custody team.
• Research and resolve issues raised by clients, their partners, relationship management, and other internal or external clients, communicating in a timely manner.
• Escalate issues and problems appropriately according to established escalation paths.
• Review and obtain client signatures on tax documentation to maintain favorable tax status in Global Markets.
• Coordinate with Securities Lending Agents and/or Investment Advisors on global activity, including proxy-voting share segregation, registered or unregistered shares for JPY dividends, and debit or credit interest from sub-custodians.
• Research causes of overdrafts and prepare claims for Investment Managers and/or Securities Lending Agents as needed.
• Serve as a control point person for compliance requirements.
• Provide support to team members by helping resolve issues and answer questions.
• Train and mentor new team members in Global Custody Administrator functions.
• Lead or assist with special projects.
• Serve as backup to the Global Custody Services Supervisor as needed and may temporarily perform a lead role during limited supervisory coverage.
• Suggest process improvements and promptly raise departmental service concerns to management.
• Manage risk by identifying, assessing, monitoring, and reporting risks, exchanging ideas and concerns, and following policies and procedures.

Benefits

• Comprehensive benefits programs designed to support employees’ and families’ physical, financial, emotional, and social well-being.
• Eligibility to participate in an incentive compensation plan based on company, line-of-business, and/or individual performance.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level