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The Investment Manager and Trust Securities Services Teams play a significant role within Global Wealth & Investment Management and U.S. Trust. Our dynamic department is responsible for the custody and settlement of assets, the invoicing and collection of revenue and sub-accounting services such as recordkeeping. Our teams are relied heavily upon for participation in projects and initiatives that help promote responsible growth for the business and our Clients. We focus on minimizing risk and promoting a positive Client experience. Teams interface daily with Financial Advisors, Investment Managers and Internal and External Business partners to provide all manners of operational support for Merrill Lynch and U.S. Trust accounts.
Opportunities exist for team members to develop leadership, project management and technological skills. We offer excellent career development opportunities to foster skills and talent.
The Managed Account Services Department’s responsibilities include but are not limited to the following:
• Supporting Clients enrolled in Merrill Lynch’s Investment Advisory service that offers access to diversified portfolios based on strategic asset allocation ideas designed to address Clients’ long term investment goals
• Supervision of the Profile Production and posting of Alternative Investment Fact Cards, generating approximately 1,660 quarterly sales literature documents intended for Financial Advisor and Client distribution
• Processing of Investment Manager payments to approximately 242 Third Party Investment Managers comprising of over $45 million for customized investment advisory services to Merrill Lynch Clients
• Timely resolution of discrepancies in over 150 Managed Account trading ledgers, equity and fixed income trading account ledgers and manager payment ledgers for Third Party Investment Managers
• Ensuring a positive Client experience and minimizing the risk of trading errors by monitoring and analyzing daily outages due to discrepancies for trades, corporate actions and non-trade transactions for over 1.5 million accounts enrolled in a Managed Product
• Revenue generation by providing invoicing for over $1 billion on an annual basis, receivable reconciliation and revenue reporting for Transfer Agency and Sub-Accounting services
• Revenue generation by facilitating billing and fees for Merrill Lynch and U.S. Trust accounts utilizing Merrill Lynch’s Investment Advisory services (combined $8.8 billion)
• Risk mitigation by supporting the accuracy of security data attributes in the Managed Account portfolio trading platforms
The duties of this particular role include, but are not limited to:
Maintain an awareness of Managed Product platform changes, enhancements and requirements
Make sure that Department standards are met and that updates are provided to management through either immediate communication and/or weekly highlights.
Assist with updates to procedural documentation / process maps, and participate in system testing as needed.
Manage risk by identifying and escalating items appropriately
Participate in internal and third party audits
Ability to research and resolve escalated inquiries from Internal and External Business Partners
Lead projects and special assignments as needed for department initiatives
A subject matter expert in reconciliation and/or billing processes
Collaborative mindset with an ability to build and maintain excellent working relationships
Ability to prioritize and handle multiple job related duties efficiently while exercising sound judgment to ensure all quality measurements, deadlines and business objectives are met
General knowledge of accounting and financial reporting
Ability to handle multiple deliverables for either daily processing and/or expanded strategic initiatives
Must have excellent written and verbal communication skills
Demonstrates attention to detail
An understanding of technology and the ability to incorporate that understanding into process improvements
Ability to work independently while effectively managing and finding resolution to complex situations
Career oriented individual seeking to grow within the organization
2-3 years of experience relating to reconciliation, billing, project management, trading and/or managed products service support
Knowledge of Various Product Types (Mutual Funds, Alternative Investments, Managed Products, etc.) within an operational setting
Provides technical and analytical support in a GWIM operations function for one or more product areas such as funds transfer, collateral mgt/margins, corporate actions, static data/data management, control, trader support, clearance/settlement, documentation/confirmations, customer service, new accounts, client valuations, document processing or statement/billing processing. Responsible for the analysis and resolution of moderately complex operations problems and initiatives requiring exception handling and working with multiple operational and/or product specialists to resolve. May participate in projects and/or introduction of new initiatives, systems, products/services and processes. As a technical expert, acts as a unit advisor providing technical support to less experienced associates. This role typically requires 3+ years experience in operations functions and a thorough working knowledge of the operational aspects of transactions and products.
Shift:1st shift (United States of America)
Hours Per Week: 40
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