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GWIM Group Operations Mgr - Fund Administration

Bank of America | Jacksonville FL 32246 USA | Full Time | Posted: 12/06/2019

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Job Description:

Investments and Securities Operations (I&SO) Teams plays a significant role within Merrill and Bank of America Private Bank. Our dynamic department is primarily located in Dublin, Jacksonville and Dallas and responsible for custody and servicing of client assets. Additionally, the department is responsible for collecting $11.7 Billion in revenue for Global Wealth & Investment Management.  Our teams are relied heavily upon for participation in projects and initiatives that help promote responsible growth for the business that supports our Clients. We focus on minimizing risk while promoting a positive Client experience. Teams interface daily with 350 Investment Managers to provide operational support for Merrill and Private Bank accounts.  Opportunities exist for team members to develop leadership, project relationship management and technical skills.  We offer excellent career development opportunities to foster learning and talent.

Fund Administration Department is an important detail of I&SO and responsibilities include but are not limited to the following:

  • Provides relationship management for roughly 350 Domestic and Offshore Mutual Funds and Alternative Investment Fund Companies
  • Hosts approximately 40 Fund Company Service Reviews and visits throughout the year in addition to the Annual Global Funds Conference
  • Manages the relationships and sub-accounting services for over 30,000 securities representing domestic and offshore Mutual Fund, Alternative Investment and Money Market positions
  • Perform Transfer Agency and Sub-Accounting services that generate over $1 billion dollars on an annual basis
  • Resolves Cash and Position discrepancies in over 600 Settlement and Custody ledger accounts for Mutual Funds and Alternative Investments
  • Mitigates risk by supporting the accuracy of cash settlement, custody oversight, and dividend distributions for Mutual Fund, Alternative Investment and Money Market positions for Private Bank and Merrill Lynch Clients
  • Provides Supplemental Data Reporting Services to improve operational efficiency for Asset Managers
  • Ensures a positive Client experience by delivering Clearance, Settlement, and Custody Services for 11.4 million domestic and foreign trades, 1.5 million corporate actions and 12.3 million income payments annually

The duties of this particular role include, but are not limited to:

  • Manage Fund Administration department within I&SO of over 50 employees
  • Monitor and analyze daily outages due to discrepancies for trades, corporate actions and non-trade transactions
  • Ensure that Department standards are met and that updates are provided to management through either immediate communication and/or routines
  • Manage Fund company visits and relationships
  • Participate in internal and Third Party audits
  • Manage risk by identifying and escalating items appropriately
  • Lead projects and special assignments as needed.
  • Collaborative mindset with an ability to partner with internal/external partners to find resolution for inquiries
  • Be a talent destination by investing in our people and fostering an inclusive environment where everyone has the power to succeed

Required Skills:

  • 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
  • Capability to think analytically and apply skill set to manage reconciliations  
  • Ability to handle multiple deliverables for either daily processing and/or expanded strategic initiatives 
  • Must have excellent written and verbal communication skills
  • Ability to understand and explain workflow including systematic interfaces and the input/output flows of data processes
  • 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
  • Intellectually curious with a mindset focused on deep understanding of business processes supported
  • Is a client advocate by taking ownership, acting with empathy, makes it easy and gets it right
  • 10-15 years of experience relating to management of financial services
  • Strong ability to manage third party relationships, vendor management, internal partners and the risk profile of the operations

Desired Skills:

  • Knowledge of Various Product Types (Mutual Funds, Alternative Investments, Managed Products, etc.) within an operational setting
  • Series 7 & 24
  • College Degree

Enterprise Role Overview:

Manages a major segment or multiple smaller units across one or more locations in a GWIM support operations function for one or more product areas for multiple 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 or client valuations. Functions managed typically have high monetary exposure, regulatory risk and client impact. Decisions have significant impact affecting multiple operations functions, product lines and client relationships. Serves as an escalation point to resolve broad and complex operational issues. Develops and implements procedures to enhance unit productivity, efficiency and manage business change. Responsible for budget/expense management, reporting and forecasting for operations areas managed, compensation decision, talent planning, and performance management at a senior level. This associate may also be responsible for managing initiatives of significant scope and scale. Requires broad business knowledge and expertise in management gained through increasingly more responsible roles in the industry. An associate in this role would often identify strategic and functional gaps, opportunities, and solutions across multiple functions and platforms. Associates at this level are often required to interact with senior management within Operations, the Front Office, and other support units as well as managing relationships with key vendors. This role typically requires 10+ years experience in operations functions and a thorough working knowledge of the operational aspects, systems, and applications supporting transactions and products.


1st shift (United States of America)

Hours Per Week:


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Location Jacksonville, FL, 32246, United States
Categories Banking/Investment

Location Maptop

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Job Code 19074710

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