Transaction Management Ops Analyst- Exposure Reporting

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:

Hours Per Week: