Transaction Management Operations Analyst - Obligations Team

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
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.

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

Line of Business Job Description:

The primary responsibilities of this role are to maintain compliance with internal and external rules and regulations, ensure timely resolution / payment in accordance with regulatory requirements and review and resolve past due trade commitments and equity maintenance calls. The candidate will be responsible for:

• Ensuring the Firm meets its regulatory and internal policy obligations around trading commitments, trading violations, and non-trade related debits, as well as any margin, Reg T, and collateral calls for securities-based loans.
• Compliance with the Federal Reserve’s regulations that pertain to credit extensions (Margin and Loan management) as well as FINRA’s (Regulation T and SRO) rules pertaining to trade commitments.
• Reviewing and resolving trade and non-trade commitments which include compliance, collections, overdrafts and trade related violations according to the Firm‘s policy and procedures and external rules and regulations.
• Providing assistance with various administrative and reporting responsibilities for the section.
• Providing subject matter expertise and service to Client Associates/Financial Advisors and Client Relationship Managers regarding alternative resolution paths as to how a trade commitment or equity deficiency (margin maintenance call) can be resolved.
• Providing assistance in implementing the Section’s and Department’s Critical Few Objectives.

Required Skills:

• 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.)
• Requires direct internal and external client contact, extension decisions and 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.
• Excellent analytical and decision making skills.
• Excellent writing and interpersonal.
• The ability to assume a leadership role with minimum supervision from the Section Manager as it relates to completing special projects and resolving daily issues and concerns

Skills:

• Attention to Detail
• Customer and Client Focus
• Oral Communications
• Prioritization
• Problem Solving
• Account Management
• Analytical Thinking
• Coaching
• Written Communications
• Mentoring
• Research
• Result Orientation

Shift:

1st shift (United States of America)

Hours Per Week: 

40