Transaction Management Operations Analyst

Bank of America•Pennington, AL

1d•$25 - $37•Onsite

About The Position

This role performs moderately complex transaction and fulfillment processing, including moving assets into and out of accounts. It supports reconciliation, settlement, trade and transfer activity, and provides quality operations support and service to internal business partners and external clients under established procedures. The work can involve medium to high monetary risk and includes assisting with training less experienced team members. Within Wealth Management Operations, the Cost Basis team maintains asset cost-basis information through events such as corporate mergers or splits, inheritance, asset transfers, and gifts. The team reviews account records and supporting documents, updates individual tax lots when appropriate, and tracks update workflows. Work is initiated by queued requests or daily reports and involves completing a high volume of transactions within strict timelines.

Requirements

Excellent interpersonal skills.
Proven ability to effectively service and resolve client inquiries.
Strong oral and written communication skills.
Ability to work effectively and efficiently as an individual contributor in a team environment.
Positive and professional attitude in a team-oriented, fast-paced work environment.
Strong analytical and problem-solving skills.
Ability to adhere to industry and IRS rules and regulations.

Nice To Haves

Proficiency with Microsoft Office, Outlook, Word, and Excel.
Strong understanding of rules and regulations, policies, and standards.
Ability to create and/or run macros.
College degree preferred.

Responsibilities

Assess assets for completeness, accuracy, and risk; identify and resolve discrepancies or gaps; and update cost basis according to established guidelines and procedures.
Research and resolve numerical errors by following procedures and escalation guidance, using troubleshooting resources, and engaging support partners when needed.
Respond by phone and email to internal business partner inquiries related to cost basis changes.
Understand end-to-end process flows, process controls, risks, and upstream and downstream impacts on other operational units.
Handle New Service Gateway and email requests for cost basis updates related to Date of Death, Capital Change, Corporate Actions, Versus Purchase, and ACAT Transfers.
Research and resolve transactional exceptions.
Maintain current tax lots and information for unrealized and realized gains and losses.
Liaise between internal units, departments, and Branch Offices.
Resolve issues related to Cost Basis and Tax Reporting.
Process exception reports.
Assist in training less experienced team members.