Operations Advisor - Asset Management Account Reconcilement

PNC•Cleveland, OH

2d•$45,000 - $81,000•Hybrid

About The Position

Position Overview At PNC, our people are our greatest differentiator and competitive advantage in the markets we serve. We are all united in delivering the best experience for our customers. In AMG Operations, we want to inspire new and innovative ideas on how to provide “best in class” service to our customers. As an Operations Advisor on the Reconcilement Team, you will be based in Cleveland, OH. PNC is an in-office company that fosters a supportive culture where employees can thrive and achieve balance. We encourage candidates to connect with their recruiter and hiring manager to understand workplace expectations and ensure the role aligns with their goals. It is required to come into the Cleveland office at a minimum of twice per month at this time. We seek motivated, driven and creative individuals that enjoy working as part of a team in a high-energy environment which thrives on innovation and ingenuity. You will work together to create new solutions which will provide our internal business partners and peers with exceptional service. Valued opinions, supported by collaborative teams, impact the success of AMG Ops. Core hours for this role are Monday - Friday, 8:00 am EST - 5:00 pm EST. As an Operations Advisor, you will be responsible for performing critical reconciliation and control activities for cash, position and non-custody accounts and transactions. This involves reconciling internal demand deposit, suspense and depository accounts and ensuring accurate identification of exceptions and appropriate account usage. The transactions reconciled result from entries made to move funds between internal client and AMG Accounts, both internal and external AMG and Client Accounts and assets between depositories that custody assets for PNC for our clients and also for third party custodians utilized by some of our clients. You will also review or reconcile and report Mutual Fund Activity and Omnibus Fee Transactions. Accurate reporting and timely escalation of exceptions is paramount to your success and contributes to the integrity of our financial operations and reporting. Key responsibilities also include managing and monitoring the opening, maintenance, and closure of internal demand deposit and suspense accounts, monitoring and decisioning DDA overdrafts, identifying and reporting fraud situations and tracking collateral and pledging activities to ensure compliance. Additionally, the position also includes generating and distributing management and exception reports at various frequencies, working with internal and external auditors, ensuring procedures are accurate and that we have appropriate and effective controls. As this is a Sr. Position on the team, it will be necessary for the individual to learn all of the team’s functions and processes, however, once that occurs, they will be responsible for a subset of both reconcilements and the other key responsibilities noted. The candidate must have extensive reconcilement experience. Experience with trust accounting or asset management is desired but not required. The candidate should have a high attention to detail along with critical thinking skills, complex problem-solving skills, ability to continually multi-task and re-prioritize, effective communications skills and be comfortable interacting with individuals across many departments, internally and externally, and hierarchies. This position may be eligible for remote work in select geographic locations, subject to approval by PNC. If approved, work must be conducted from a quiet, secure, and confidential home-based workspace. Occasional in-office participation may be required based on business needs. PNC will not provide sponsorship for employment visas or participate in STEM OPT for this position. Job Description Supports a critical operational support service, process, capability or initiative within an operational unit and ensures performance and/or risk indicators are met. Establishes and monitors process performance measurements and business impact. Prepares performance statistics and reports for internal stakeholders and senior management. Monitors the production workflow and assists team members with escalated process issues. Independently identifies and resolves exceptions and serves as a point of escalation. Monitors effectiveness and efficiency of production and/or process. Determines and/or drives change and improvement efforts in production and/or processes. Ensures the business adheres to policies, procedures and regulatory standards. Independently resolves compliance issues and drives risk mitigation activities. PNC Employees take pride in our reputation and to continue building upon that we expect our employees to be: Customer Focused - Knowledgeable of the values and practices that align customer needs and satisfaction as primary considerations in all business decisions and able to leverage that information in creating customized customer solutions. Managing Risk - Assessing and effectively managing all of the risks associated with their business objectives and activities to ensure they adhere to and support PNC's Enterprise Risk Management Framework.

Requirements

Extensive reconcilement experience
High attention to detail along with critical thinking skills, complex problem-solving skills, ability to continually multi-task and re-prioritize, effective communications skills and be comfortable interacting with individuals across many departments, internally and externally, and hierarchies.
Roles at this level typically require a university / college degree, with 2+ years of relevant professional experience. In lieu of a degree, a comparable combination of education, job specific certification(s), and experience (including military service) may be considered.

Nice To Haves

Experience with trust accounting or asset management

Responsibilities

Performing critical reconciliation and control activities for cash, position and non-custody accounts and transactions.
Reconciling internal demand deposit, suspense and depository accounts and ensuring accurate identification of exceptions and appropriate account usage.
Review or reconcile and report Mutual Fund Activity and Omnibus Fee Transactions.
Managing and monitoring the opening, maintenance, and closure of internal demand deposit and suspense accounts, monitoring and decisioning DDA overdrafts, identifying and reporting fraud situations and tracking collateral and pledging activities to ensure compliance.
Generating and distributing management and exception reports at various frequencies, working with internal and external auditors, ensuring procedures are accurate and that we have appropriate and effective controls.
Establishing and monitoring process performance measurements and business impact.
Preparing performance statistics and reports for internal stakeholders and senior management.
Monitoring the production workflow and assists team members with escalated process issues.
Independently identifying and resolving exceptions and serves as a point of escalation.
Monitoring effectiveness and efficiency of production and/or process.
Determining and/or drives change and improvement efforts in production and/or processes.
Ensuring the business adheres to policies, procedures and regulatory standards.
Independently resolving compliance issues and drives risk mitigation activities.

Benefits

PNC offers a comprehensive range of benefits to help meet your needs now and in the future. Depending on your eligibility, options for full-time employees include: medical/prescription drug coverage (with a Health Savings Account feature), dental and vision options; employee and spouse/child life insurance; short and long-term disability protection; 401(k) with PNC match, pension and stock purchase plans; dependent care reimbursement account; back-up child/elder care; adoption, surrogacy, and doula reimbursement; educational assistance, including select programs fully paid; a robust wellness program with financial incentives.
In addition, PNC generally provides the following paid time off, depending on your eligibility: maternity and/or parental leave; up to 11 paid holidays each year; 9 occasional absence days each year, unless otherwise required by law; between 15 to 25 vacation days each year, depending on career level; and years of service.

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