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Team Ld, Client Processing

Posted 24 August by BNY Mellon Featured Ended

Role Synopsis and Required Skills and Attributes

• Account Transfers process transfers in or transfers out of an account portfolio (ISA/GIA/OSB/SIPP) either from or to another account provider. Account Transfers will liaise with the counterparty to onboard/offboard the assets, input stock expectations/instructions, deal with all incoming and outgoing cash payments, and deal with all transfer paperwork. They will track settlement of all transfers to completion and provide reporting to Clients to track progress.

• Responsibilities will include:

• technical support, testing and training of Account Transfer systems including BPM Teamworks and Altus

•  managing and controlling high levels of risk and liability inherent in the various functions and for reconciliation activities, client reporting and proration on transactions.

• oversight and monitoring of the progress of Client transfers including regular meetings and interaction with the Client.

• serves as a team leader for the day-to-day operations.

MyCareer Path Description and Position Summary

Responsible for transaction processing and manager set-up & connectivity. Provides client service and support to internal and external clients on a daily basis, including product knowledge and technical assistance, problem resolution, and account transaction or managed account processing. The following specialties are typically filled by experienced processors:

Prime Brokerage Operations: Works with introducing firms to open accounts, review forms and documentation to ensure completion and compliance with regulations; may provide client training. Processes trades and trade settlements (international and domestic). Monitors and resolves discrepancies in established timeframes.

Margin Operations: Monitors and analyzes client accounts (activities and statements) to ensure accuracy and regulatory compliance. Identifies and resolves client discrepancies and exceptions. Responds to client inquiries and coordinates with the appropriate departments to facilitate resolution. Ensures compliance with internal policies, controls and procedures. Handles proprietary accounts that are high risk and have high exposure. Must have knowledge of multiple security products.

Special Handling: As a subset of global clearing and settlement, handles transactions with high client impact including syndicates, ForEx, 144A Exchanges, ADR stock, etc.

MBS Operations: Monitors and reconciles trading transactions for Mortgage Backed Securities. Understands processing requirements for TBA, pools, etc. Follows rules and regulations for processing trades on a forward basis. Participates in the pool setting class settlement cycles. Needs to understand trade and clearance settlement flows.

Managed Account Operations - Works with introducing broker dealers and investment advisors to assist with opening new accounts, process account maintenance/model change requests, as well as, financial transactions. Experienced with portfolio accounting software running macros and analyzing data.

Mutual Fund/Alternative Investment Order Desk - Responsible for exception processing of orders, monitoring trade corrections and order rejects, handling of trade losses and resolving discrepancies in established timeframes. Respond to client inquiries in a timely manner. Strict adherence to department policies and procedures is critical due to increased risk and exposure to the firm as a result of trade errors. Series 7 licensed or license to be obtained within the first 12 months.

Provides team leadership for the day-to-day operations of client processing support team.

Qualifications

MyCareer Path Primary Responsibilities

• Leads the day-to-day activities and initiatives of the team. Develops and schedules appropriate level of staff.

• Directs staff, maximizing their ability to function effectively with their colleagues as a team.

• Provides support to business and technology managers; handles complex client inquiries and requests.

• Monitors account work flows and processing issues to identify systematic patterns which may require adjustment to policies and procedures. Provides support, consulting and problem resolution activities.

• Trains staff in technical tools and skills as well as specific internal or external client support activities to maximize their contribution to the team and ensure compliance with company policies and industry regulations.

• Leads a small client processing team. May be responsible for specific supervisory review and approval actions.

• Supports the achievement of team objectives.


For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: careers.

Pershing provides critical business process, financial and technology solutions for financial organizations around the globe.

We operate behind the scenes to power transformational change for broker-dealers, registered investment advisors, independent financial advisers, hedge fund and '40 Act fund managers and individual investors.

We strive to be innovators, developing open architecture technology and financial solutions to support our customers' growth. We advocate on behalf of our customers and help them respond to regulatory reform and drive positive outcomes for our industry and investors.

From our core business as an industry-leading trade execution, clearing and custody provider, we have evolved into a global multifaceted firm that provides investment solutions, forward-thinking technology-driven efficiencies, practice management and service excellence.

BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: United Kingdom-Merseyside-Liverpool
Job: Operations
Internal Jobcode: 70607
Organization: Pershing-HR06431
Requisition Number: 1711759

Reference: 33151590

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