Transaction Management Ops Analyst

Bank of America•Pennington, AL

2d•$25 - $37•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 operational processes which may carry medium to high levels of monetary risk and assisting in training less experienced team members. Wealth Management Operations (WMO) provides end-end operational support that drives the client experience for Wealth Management advisory partners and their clients. Within WMO, the Investment and Monetary Controls teams execute manual processes and monitor automated processes to maintain adherence to requirements established by product type, transaction type, contracts or regulations such as ensuring the value of collateral remains sufficient, trade information matches across all trading systems, and invoices are correct per a contract. Upon receipt of daily and weekly reports including obligations and securities-based lending data, the Exposure Reporting team ensures accurate analysis and timely distribution to communicate firm exposure. Once validated, reports are shared with key stakeholders. Obligations refer to financial commitments arising from client transactions that must be fulfilled. Security-Based Lending Data refers to information regarding open loans for customers leveraging their investment assets as collateral. A successful Transaction Management Operations Analyst on this team: Performs a detailed assessment of obligations and securities-based lending data, then fulfills reporting and escalation activities including providing consolidated risk reports according to the established guidelines and procedures. Responds to internal partner inquiries related to obligations and securities-based lending data via email. Understands the process flow from end to end including the reasons for each step, the process controls, the risks within the process and the upstream/downstream impacts of their work based on an understanding the work impacts other operational units.

Requirements

Familiarity with financial processes across ML sales support screens
Understanding of the Securities Industry and the various internal and external rules and regulations affecting the industry and department (e.g., Regulation T, New York Stock Exchange, Firm policies and procedures and margin and option rules and regulations)
Ability to manage multiple priorities, maintain accuracy, and meet deadlines in a challenging environment
Expertise in Microsoft Office (Excel, Access, Word, Outlook, SharePoint)
Analytical Thinking
Research
Prioritization
Attention to Detail
Oral Communication
Written Communications

Nice To Haves

Experience in banking, wealth management, brokerage, or other regulated industries
Experience supporting risk, control, quality review, or audit-related activities
College Degree preferred
Knowledge of margin and option requirements
Requires direct internal contact with business partners. Support forced liquidation processing to ensure trading commitments (cash commitments and Regulation T calls) and equity deficiency calls (maintenance calls and minimum equity calls) are met within regulatory and Firm policy timeframes.

Responsibilities

Responsible for the analysis and resolution of moderately complex transactions requiring escalations and exceptions by reviewing requests, confirming supporting information, and resolving open commitments
Performs moderately complex transaction processing and reconciliation with medium to large monetary impact according to the established written guidelines and procedures by confirming account information and activity
Responds to moderately complex client inquiries via numerous channels to support operational efficiency and quality client service by providing status updates and communicating outstanding requirements to Merrill Lynch Wealth Management and Consumer Investments Personnel
Demonstrates a team-first mindset by balancing individual responsibilities with team needs, supporting high-volume periods, and willingly overseeing complex cases to drive collective results and client satisfaction
Understand the process flow from end to end including the reasons for each step, the process controls, the risks within the process and the upstream/downstream impacts of their work based on an understanding the work affects other operational units.
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