Provide operational support for Global Markets Equities and Fixed Income FLUs to ensure client and bank initiated client account closures are off boarded across global markets within a reasonable timeframe in accordance with internal bank and financial industry policies
Job Description: Provide operational support for Global Markets Equities and Fixed Income FLUs to ensure client and bank initiated client account closures are off boarded across global markets within a reasonable timeframe in accordance with internal bank and financial industry policies
- Responsible for performing client outreach where applicable to terminate written agreement(s) between the client and BANA/Bofa Securities where applicable.
- Responsible for the oversight and management of client and account identifiers to ensure the entire relationship is off boarded and the disposition of client activities is socialized with the appropriate operations and sales management teams
- Responsible for reporting and metrics depicting the disposition of terminated client end to end relationships
- Provide operational research and off boarding triage support
- Perform client account identification to ensure all accounts/identifiers are in scope for termination and socialized with the business where applicable
- Perform activity and balance checks to identify account closure eligibility
- Responsible for reporting and or escalating client of delayed off boarding activities due to long dated exposure (LDE), contractual obligations, positions/balances, and any other business reasons delaying the termination of the relationship.
- Responsible for maintaining and updating off boarding check lists to ensure all relevant client activities have been identified and accounted for in the off boarding process
- Responsible for working with FLU and operational designees to track and distribute customer balances in order to close the relationship where applicable
- Responsible for documenting and tracking closure exceptions due to legal/compliance , deceased clients, lost securities , negative balances, and other business reasons preventing the immediate off boarding of client relationships.
- Responsible for the identification of new products offerings and business rules associated with the closure of the products where applicable
- Responsible for engaging global markets account off boarding teams to confirm account closures and or delays.
- Responsible for the identification and coordination of internal, non client and vendor relationship accounts where applicable
- Develop and facilitate management routines and escalations with the business to review pipeline closures
- Responsible for documenting client and account closure business rules, off boarding projects and the coordination of updates to system identifiers to accurately reflect the status of client account attributes where applicable Executes against regulatory, BSA/anti-money laundering, and economic sanctions compliance practices relevant to the manager's area of responsibility.
- Responsible for expense oversight, reporting, forecasting and building and maintaining strong business/client relationships.
- Oversees daily activities ensuring adherence to deadlines and quality standards and adherence to procedures and regulatory requirements
- Strong excel skills the ability utilizes the VLOOKUP and pivot functions
- Strong time management skills
- Ability to track and perform outreach to the front-line unit
- Ability to Communicate to senior management
- Assist in the execution of the internal operational process, control, discipline and excellence within the Enterprise Account Management Operation Transformation team, and across multiple lines of businesses within the Bank. Execute horizontal oversight and controls for operational processes to drive adherence to regulations, laws, policies, and standards for AML and Account Closures. Manage & maintain records and documentation. Ensure effective inline quality assurance practices are in place, through the development and implementation of standards, controls, and metrics, and partner with compliance to review the results of independent testing and Corporate Audit results. Contribute to effective reporting and communication routines to achieve enterprise understanding of key issues.
- Determination of applicable regulatory requirements related to activities.
- Adoption of processes and controls to comply with applicable laws, rules and regulations and their impact on relevant processes.
- Implementation and active management of procedures and controls to reflect policy requirements.
- Measurement, monitoring and reporting on the effectiveness of the control environment.
- Oversight of the mitigation of risks and remediation control gaps.
- Create high quality reports and summaries of issues, mitigation plans and ensure appropriate escalations are delivered and approved.
- Understand Policy requirements, key performance drivers, business trends, and regulatory changes that define successful compliance risk management to a program oversight team.
- Contribute quality control in accordance with procedures.
- Gather data to formulate observations, findings and overall review ratings based on analysis.
- Perform quality assurance analysis of deliverables as prescribed by internal processes and procedures.
- Produce supporting documentation for review by Corporate Audit and External Examiners.
1st shift (United States of America)
Hours Per Week:
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