Margin Specialist I

RBC • Minneapolis, MN

4d • $50,000 - $80,000

About The Position

What is the opportunity? The RBC US Wealth Management group is hiring! As an Operations Specialist I with the Margin team, you will manage relationships for assigned Correspondent and Wealth Management firms by acting as a subject matter expert and dedicated resource for the Margin department. Provide timely, detailed, accurate account information, notifications and account calculations as required to Branches/Firms/Advisor Services/Operations personnel. Provide exceptional customer service, analyze, assess and mitigate risk while reviewing account activity. Consistently document comprehensive notes within systems and/or within reports. If you have exceptional problem solving skills, enjoy challenging work, and are looking for the next step in your career, we want to hear from you!

Requirements

• 4-year degree from an accredited university (or equivalent) OR High school diploma (or equivalent) AND 3 years of job-related experience.
• Must be able to anticipate needs and demands of day-to-day workflow in a fast paced, pressured work environment with strict time deadlines.
• Must be able to communicate clearly and succinctly and able to delegate effectively.
• Must have ability to quickly analyze complex problem situations and provide solutions with guidance from Margin Management.
• Must be flexible with priorities throughout the day.

Nice To Haves

• SIE/Series 99/Series 7
• Experience with analyzing and enhancing operational workflows
• Proficient with using Microsoft Visio, Power BI, SQL, etc.
• Experience building PowerPoint presentations intended for Senior Management
• Ability to read regulatory releases and interpret operational impact.

Responsibilities

• Monitor assigned reports and/or accounts each day for inappropriate transactions, requests, and margin issues that may pose risk to RBC Wealth Management, Clearing & Custody firms and/or the client.
• Demonstrate a thorough understanding of margin and options strategies and ability to complete complex mathematical calculations quickly and accurately.
• Review margin agreements and approve, reject or request additional information based upon the review.
• Escalate potential issues and/or concerns to department management immediately.
• Timely and accurately communicate with Branches/Firms/Advisor Services/Operations personnel of relevant action items.
• Evaluate and place accounts on Cash In Advance (CIA) restriction when needed.
• Review and approve cash and security movements out of client accounts.
• Provide exceptional customer service to Branches/Firms/Advisor Services/Operations personnel through the proper use of communication; including but not limited to requests regarding money balances, buying power, procedures, collection of calls, interpretation of rules and other information concerning the status of client accounts.
• Provide daily support and assistance to co-workers as needed.
• Perform other duties as necessary.

Benefits

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Flexible work/life balance options
• Opportunities to do challenging work
• Opportunities to take on progressively greater accountabilities
• Access to a variety of job opportunities across business

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Number of Employees: 5,001-10,000 employees