PostMatches By WorkStaff USA
Working independently, maintains and enhances relationships with existing institutional clients. Promotes investment product sales through frequent client meetings and discussions covering investment strategy, account performance, new products, and market developments. Works closely with sales, portfolio managers, product specialists and/or client service staff to coordinate all sales and support activities for assigned accounts. Covers medium-sized and/or less complex institutional accounts. Has a thorough understanding of the assigned accounts’ requirements. Provides guidance to more junior staff , but has no formal supervisory responsibility. Has five or more years of portfolio management, sales, marketing, or relationship management experience. Often has a CFA. Possesses a strong knowledge of the firm’s products and services. Based on performance and experience, does not have the prominence of a Senior Level I.
LOB Specific Job Description:
This position within F&C Billing and Control team supports the Introducing Broker business: The successful candidate will gain an excellent learning opportunity, and split their time between our Daily Control Function, which is designed to make sure our Introducing Broker clients are managing their trade volumes and looking at and resolving important breaks and exceptions, and our Billing Team which is responsible for supporting the revenue production of the business by billing for all clearing charges and fees on an accurate and timely basis.
The role requires the ability to multi-task, while following procedures in a highly organized and structured way. Attention to detail, a strong work ethic, the ability to self-motivate are a must in this role, as well as keen intellectual curiosity to question the status quo is strongly desired. You will also be a key player on our team and get to work interactively each day with the Account Managers in the front office, Client Service Representatives in the F&C service team and Core Operations. As we look to scale processes and make them more efficient you will get the opportunity to flex your project / initiative management skills to drive change and test new enhancements to key systems. The team interacts daily with clients, understanding their needs and works to build and maintain relationships not only within F&C but across the broader Client Services Teams globally. The team interacts with Front Office and Sales and Account Management to help drive and protect revenues.
Primary Responsibilities – F&C Fees and Billing Team part of Role:
On Fees & Billing part of the role, will be primarily responsible for on-boarding and maintaining the F&C rate schedules, in multiple applications, and for ensuring clients are billed and fees are collected accurately and timely. This includes systemically generated and manually generated charges as well as the reconciliation of related processing accounts. A secondary responsibility is managing F&C application entitlements and audits for external client users. Billing interacts daily with clients, the Business and Technology, managing inquiries, conducting analyses, and contributing to process improvements and efficiencies leading to an enhanced client experience and reduced operational risk and expense. Ideal candidates will possess the ability to work in a fast-paced environment with demanding clients who require accurate and timely resolution of issues.
Primary point of contact for Billing and entitlement related client and Business inquires and problem resolution such as:
• On-boarding new client contracts to billing / interest schedules
• Daily Rate Schedule updates
• Daily, weekly, and monthly fee processing and collection
• Daily, weekly, and monthly commission payouts
• Monitor commission accounts
• Invoice and collection of payments
• Daily and monthly FX Account reconciliation
• FX processing of non-USD commissions
• Metric reporting and analysis
• Support entitlements set up for new and existing clients, troubleshooting access issues, etc.
Primary Responsibilities – F&C Control Team Part of Role:
• Serve as a key Control team member working with Client Service Reps and the Introducing Broker client base to assist them in properly controlling their business with BOFA Securities, Inc. The F&C business is a high volume, mostly STP clearing business to manage exceptions which is the key to managing Operational Risk.
• Support the approval and verification process of daily wires and journal entries.
• Run daily Control internal reports and conduct analysis to chase down and resolve the following types of issues:
As clients trade, they may have allocated positions to client underlying account and average price breaks.
If a client allows positions to settle in their average price account action is required to follow-up with the client to get the trades allocated.
Monitoring of client foreign transaction tax balances to make sure clients are remitting payments to the Foreign tax authorities on a timely basis
• Driving daily client regulatory obligations such as Reg-T and 15c3 working with compliance teams and clients to resolve
• Managing aged items appearing on the Business Sheet which are Receivables due BOFAS or Payables due to the Introducing Broker’s underlying clients.
• Tracking and chasing aged claims
• Approving asset transfers in accordance with LOB policies and procedures as well as providing oversight control for others performing same pros
• 5+ years of experience, preferably in a client service or middle office operations capacity.
• Excellent communications skills and ability to present to an audience.
•Ability to work under pressure individually and/or in a team environment.
• Strong work ethic and self-motivated.
• Excellent time management skills to meet multiple deadlines.
• Ability to liaise with all levels of the firm and people with different experiences and backgrounds.
• Strives to bring new thoughts and ideas to teams to drive innovation and unique solutions.
• Excels in working among diverse viewpoints to determine the best path forward.
• Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.
• Commitment to challenging the status quo and promoting positive change.
• Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.
• Believes in value of diversity so we can reflect, connect, and meet the diverse needs of our clients and employees around the world.