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Transaction Management Ops Analyst- Exposure Reporting

Pennington, New Jersey

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

Skills:

+ Attention to Detail

+ Customer and Client Focus

+ Oral Communications

+ Prioritization

+ Problem Solving

+ Account Management

+ Analytical Thinking

+ Coaching

+ Written Communications

+ Mentoring

+ Research

+ Result Orientation

Business Description:

The primary responsibility of this role is to work with various Investment and Monetary Control teams, Merrill branch offices, Consumer Investments, and senior management to minimize client and Merrill exposure. An analyst prepares, summarizes, and distributes various daily, weekly, and monthly reports for supporting Merrill and Consumer Investments lines of business.

The candidate will be responsible for:

• **Daily reports**

+ Analyzing margin calls greater than 25K, across domestic, international, MESD, and MEAC accounts.

+ Identifying and resolving transactions that are processed in Invalid Prefix No-Name accounts.

+ Monitoring FINRA extension requests to ensure trade details are accurate and extensions are approved.

+ Validating and resolving deficit equity scenarios due to market fluctuations on open commitments and unsecured debits & shorts for all domestic and international offices.

+ Summarizing all margin, Reg T, minimum equity, and LMA collateral calls over 250K

+ Identifying accounts with potential interim exposure during severe market declines.

+ Assisting with the creation of daily scorecards to ensure compliance, violations, and collections obligations are resolved within appropriate regulatory timeframes.

Weekly reports:

+ Obtaining and summarizing by region all forced liquidations processed by IMC Obligations.

+ Reporting all liquidations across domestic, international, MESD, MEAC, and LMA lines of business.

+ Providing a consolidated risk report as a snapshot of weekly consolidated data and potential trending exposure across all Merrill and Consumer Investments.

Required Skills:

+ Expertise in Microsoft Office (Excel, Access, Word, Outlook, SharePoint)

+ Ability to understand overall themes and objectives of assigned reports.

+ Strong organizational skills, attention to detail, and ability to work independently.

+ Strong written and verbal communication skills in order to perform in a proactive and effective manner across all levels of the organization.

+ Handling of escalations of account issues to branch office/Edge managers in order to resolve open exposure.

Desired Skills:

+ College Degree preferred

+ Familiarity with financial processes across ML sales support screens

+ Knowledge of margin and option requirements

+ 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 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.

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.