Transaction Management Ops Analyst

Bank of America Corporation•Dallas, TX

28d•Onsite

About The Position

This job is responsible for moderately complex transaction and fulfillment processing, including the movement of assets into and out of accounts. Key responsibilities include reconciliation, settlement, and trade and transfer support, and providing quality service and operations support for internal business partners and external clients, in accordance with established guidelines and procedures. Job expectations include handling in operational processes which may carry medium to high levels of monetary risk and assisting in training less experienced team members. The Investment and Monetary Controls Teams play a significant role within Global Wealth & Investment Management and Private Bank. Our dynamic department is responsible for the custody and settlement of assets, as well as the invoicing and collection of revenue and sub-accounting services such as recordkeeping. Our teams are relied heavily upon for participation in projects and initiatives that help promote responsible growth for the business and our Clients. We focus on minimizing risk and promoting a positive Client experience. Teams interface daily with Financial Advisors, Investment Managers and Internal and External Business partners to provide all manners of operational support for Merrill Lynch and Private Bank accounts. Opportunities exist for team members to develop leadership, project management and technological skills. We offer excellent career development opportunities to foster skills and talent. The Balancing and Reconciliation Department's responsibilities include but are not limited to the following: Provide escalation point of contact for over 300 Mutual Fund companies and 15 Alternative Investment representing over 40,000 unique securities Responsible for the oversight of ~$30 billion in dividend distributions, annually Accurate and timely wire and check distributions of over $100 million, annually Support for more than 10,000 Private Bank securities amounting to over $2.5 billion, annually Timely resolution of discrepancies and exceptions within the Dividend ledger accounts Ensuring a positive Client experience and minimizing the risk of trading errors by monitoring and analyzing daily outages due to discrepancies for trades, corporate actions and non-trade transactions for Merrill Lynch clients Risk mitigation by supporting the accuracy of cash dividend payments made to clients The duties of this particular role include, but are not limited to: Complete workflow across various systems and for accurate and timely completion of deliverables Researches complex operational and LOB requests, issues, and escalations to identify root cause and assist with remediation efforts and solutions Reviews processes to ensure effectiveness, and recommending process improvement and risk mitigation opportunities to senior management Supports risk management and audit processes, including identification of issues, development of mitigation strategies, and exam preparation Maintain an awareness of Mutual Fund or Alternative Investments Product platform changes, enhancements and requirements Ensure that Department standards are met and that updates are provided to management through either immediate communication and/or weekly highlights Assist with updates to procedural documentation / process maps, and participate in system testing as needed Manage risk by identifying and escalating items appropriately

Requirements

Attention to Detail
Customer and Client Focus
Oral Communications
Prioritization
Problem Solving
Account Management
Analytical Thinking
Coaching
Written Communications
Mentoring
Research
Result Orientation
Ability to prioritize and handle multiple job related duties efficiently while exercising sound judgment to ensure all quality measurements, deadlines and business objectives are met
General knowledge of accounting and financial reporting
Advanced Excel skills
Capability to think analytically and apply skill set to manage reconciliations
Ability to handle multiple deliverables for either daily processing and/or expanded strategic initiatives
Must have excellent written and verbal communication skills
Ability to understand and explain workflow including systematic interfaces and the input/output flows of data processes
Demonstrates attention to detail
An understanding of technology and the ability to incorporate that understanding into process improvements
Ability to work independently while effectively managing and finding resolution to complex situations
Intellectually curious with a mindset focused on deep understanding of business processes supported
Experience relating to reconciliation, billing, project management, trading and/or managed products service support
2-3 years of experience relating to reconciliation, billing, project management, trading and/or managed products service support
Knowledge of Various Product Types (Mutual Funds, Alternative Investments, Managed Products, etc.) within an operational setting

Responsibilities

Performs moderately complex transaction processing and reconciliation with medium to large monetary impact according to the established written guidelines and procedures
Responds to moderately complex client inquiries via numerous channels to support operational efficiency and quality client service
Responsible for the analysis and resolution of moderately complex transactions requiring escalations and exceptions
Proactively identifies risk and opportunities for process improvements based on an understanding of how the work impacts other operational units
Complete workflow across various systems and for accurate and timely completion of deliverables
Researches complex operational and LOB requests, issues, and escalations to identify root cause and assist with remediation efforts and solutions
Reviews processes to ensure effectiveness, and recommending process improvement and risk mitigation opportunities to senior management
Supports risk management and audit processes, including identification of issues, development of mitigation strategies, and exam preparation
Maintain an awareness of Mutual Fund or Alternative Investments Product platform changes, enhancements and requirements
Ensure that Department standards are met and that updates are provided to management through either immediate communication and/or weekly highlights
Assist with updates to procedural documentation / process maps, and participate in system testing as needed
Manage risk by identifying and escalating items appropriately