Operations Manager, Mutual Fund Reconciliation - Southfield, MI

Raymond James•Southfield, MI

10d•Hybrid

About The Position

Manage the development and implementation of processes, systems, and infrastructure to ensure a high quality and timeliness of operations in areas such as account services, international securities, transaction processing, or loan support/credit approval. Manage several departments of a processing unit or the entire unit. This position follows our hybrid-friendly schedule, so you get the best of both worlds – flexibility and collaboration. In office days will be 3 per week in our Southfield, MI location.

Requirements

Knowledge of: Complex investment concepts, practices, procedures and industry regulations related to Mutual Fund Reconciliation activities.
Intermediate mathematical skills including addition, subtraction, multiplication, division, percentages, fractions, averages and balancing sufficient to complete settlement.
Accounting principles.
Principles and practices of customer relations and communications.
Identifying financial events that affect balancing and reconciliation.
Reconciling and correcting share/cash discrepancies.
Calculating percentages, balance accounts, and provide statistical data.
Actively participates in User Agreement Testing (UAT) for systems and new process implementation.
Involved in all aspects of testing, including internal audit, troubleshooting and suggested solutions.
General Experience - 6 to 10 years
Manager Experience - 3 to 6 years

Nice To Haves

s99 - Operations Professional Examination - Financial Industry Regulatory Authority (FINRA)
Securities Industry Essentials Exam (SIE) - Financial Industry Regulatory Authority (FINRA)

Responsibilities

Independently reviews complex cash/share reconciliation issues, analyze and interpret data and determines appropriate corrective action.
Contacts internal and external customers as well as funds and depositories to resolve reconciliation issues.
Processes various complex Reconciliation related reports and utilize tools including Reconciliation related databases and 3rd party applications.
Performs daily follow up on programmatic balancing processes to assure completeness and accuracy.
Performs a daily review of aged items to insure all balancing guidelines and risk controls are being appropriately followed.
Proactively scrutinizes and addresses monetary, reputational or regulatory risk situations, involving leadership as appropriate.
Provides leadership with both written and verbal feedback as well as periodic management reports to provide timely reconciliation updates including transaction aging, metrics and quality assurance reviews.
Responsible for monitoring and reporting on general ledgers/monitor Reserve accounts.
Works with department leadership and business consultants to improve future business processes (focusing on risk, hard and soft dollar savings, and automation).
Documents current/future business processes.
Oversee an operational area with guidance from senior colleagues. Could involve responsibility for development or delivery (or both).
Contribute to the development of annual and longer-term business plans; forecast performance against business key performance indicators (KPIs); develop business cases for key activities/projects; and estimate the financial and human resources required to deliver performance targets.
Communicate the actions needed to implement the function's strategy and business plan within the team; explain the relationship to the broader organization's mission, vision, and values; motivate people to commit to these and to do extraordinary things to achieve local business goals.
Manage and report on the performance of a substantial, diverse team; set appropriate performance objectives for direct reports or project/account team members and hold individuals accountable for achieving them; take appropriate corrective action where necessary to ensure the achievement of team/personal objectives.
Manage day-to-day service operations, developing and/or delivering a plan and outcomes for a service operations area with guidance from senior colleagues.
Develop medium- or long-term work schedules that enable the organization to achieve its business goals. Involves coordinating across multiple teams.
Identify shortcomings in existing business practices, then suggest and implement improvements while developing and delivering projects or a work stream within the organization's change management program. Involves working with guidance from senior colleagues.
Develop procedures and interpret and apply policy for area of expertise to achieve specified outputs, or advise the wider business on application of policy, then monitor implementation of those procedures within the organization.
Recommend changes to policies, processes, standards, and practices that would improve operational support.
Develop and/or deliver a plan for significant aspects of internal communications with guidance from senior colleagues.
Develop and/or deliver a contingency plan for significant aspects of the risk management and/or risk control processes.
Develop and/or deliver budget plans with guidance from senior colleagues.
Use the organization's formal development framework to identify the team's individual development needs.
Plan and implement actions, including continuing professional development specified by professional or regulatory institutions, to build their professional capabilities.
Provide informal training or coaching to others throughout the organization in own area of expertise to enable others to improve performance and fulfill personal potential.
Monitor and review performance and behaviors within area of responsibility to identify and resolve noncompliance with the organization's policies and relevant regulatory codes and codes of conduct.
Engage in strategic planning.
Plan, organize, and execute the steps it takes to achieve a goal to achieve higher efficiencies.