Transaction Management Ops Analyst - Abandoned Property

Bank Of America Job Posting

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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

The Merrill Abandoned Property Team performs critical and time-sensitive Non-Financial Regulatory Reporting (NFRR) processes including, but not limited to, performing abandoned account identification, handling statutory due diligence mailings and Client claims, and completing regulatory escheatment reporting. This role involves contact with Clients, branch office personnel and external U.S. state/territory unclaimed property employees with a focused goal of reuniting Clients with their assets. The teammate in this role will be expected to cross-train and learn all functions within the team. This team works closely with Manual Data Providers, Compliance, the Unclaimed Property Escheatment Enterprise Area of Coverage, and various U.S. state/territory contacts to ensure reporting is done in compliance with jurisdictional mandates.

Additional duties include:

• Reconciling assigned omnibus accounts on a weekly basis
• Answering Client calls and email inquiries while processing various assignments
• Communicating (written and verbal) with various branch offices, Clients, and/or state representatives
• Monitoring and processing email requests via an internal Team mailbox
• Conducting research and outreach to reunite abandoned Clients with their assets
• Performing regular account maintenance, including document review, to ensure accuracy
• Facilitating the transfer of assets into and out of abandoned property
• Learning all departmental processes and being cognizant of downstream effects on other areas
• Mitigating risk by identifying and proposing process improvements
• Overtime may be required to support business needs, primarily during the months of September and October

Required Qualifications:

• Must maintain positive and professional attitude in a team-oriented, fast-paced work environment
• Work effectively and efficiently as an individual contributor within a team environment
• Ability to adapt to a changing environment and handle multiple priorities
• Proficiency with Excel (as it is heavily used in this role)
• Possess strong analytical and problem-solving skills
• Be able to read state handbooks to ensure process is meeting all mandatory Escheatment requirements
• Have ability to effectively service/resolve client inquiries
• Excellent writing and analytical skills
• Demonstrate organizational skills and proven attention to detail

Desired Qualifications:

• Undergraduate degree preferred or Industry experience equivalent
• Flexibility to perform well in a changing environment as processes evolve
• Proficient with Microsoft Office, Outlook, Word, and Excel
• Ability to prioritize and manage multiple job-related duties, including day-to-day tasks and project work
• Strong understanding of rules and regulations, policies, and standards

Shift: 1st shift (United States of America)

Hours Per Week: 40