Transaction Management Ops Analyst

Bank of America•Jacksonville, FL

3d•Onsite

About The Position

At Bank of America, this role supports Wealth Management Operations (WMO), which provides end-to-end operational support for Wealth Management advisory partners and their clients. The analyst performs moderately complex transaction and fulfillment processing, including moving assets into and out of accounts, reconciliation, settlement, and trade and transfer support. The work provides quality operations service to internal business partners and external clients under established guidelines and procedures, and may involve operational processes with medium to high monetary risk. Within the WMO Cost Basis teams, the analyst carries out manual processes and monitors automated processes to maintain accurate asset cost basis information through events such as corporate mergers or splits, inheritance, asset transfers, and gifting. After receiving a request, the team reviews account records and supporting documents to determine whether an update is necessary, updates individual tax lots once records are confirmed, and tracks the workflow. Work is received through queues or daily reports and involves a high volume of transactions with strict timelines. The role also includes assisting in training less experienced team members.

Requirements

Attention to detail
Customer and client focus
Oral communications
Prioritization
Problem solving
Account management
Analytical thinking
Coaching
Written communications
Mentoring
Research
Result orientation

Responsibilities

Assess the completeness, accuracy, and risk of assets; identify and resolve discrepancies or gaps; and update asset cost basis according to established guidelines and procedures.
Research and resolve numerical errors by applying procedures, using a troubleshooting guide, escalating issues, and engaging support partners when needed.
Respond to internal business partner inquiries about cost basis changes by phone and email.
Understand end-to-end process flow, including the purpose of each step, process controls, risks, and upstream and downstream processes.
Perform moderately complex transaction and fulfillment processing, including asset movement, reconciliation, settlement, and trade and transfer support.
Review account records and supporting documents, update individual tax lots when appropriate, and track cost basis update workflows.
Assist in training less experienced team members.