The Securities Based Lending Collateral Specialist handles multiple responsibilities, including:
Daily review of account balances and holdings to determine adherence with firm and regulatory collateral requirements to reduce risk to clients and the firm.
Processing service requestsincluding, but not limited to Margin, Fed Funds, Checks, Journal Entries and Periodic Distributions.
Handling inbound calls from branch offices via the MLSN network while maintaining high survey results and providing correct information and resolution.
Includes ability to understand and effectively communicate ML systems, including Accounts Processing (AP), Brokerage Authorization (BA), Genesis, Naked Options Stress Analysis (NOSA), and the Commitment Tracking System (CTS)
Performing User Acceptance Testing (UAT) of the above mentioned systems, including occasional Saturday release testing.
Calculating collateral requirements, including margin and options strategies.
Contributing to the team by implementing procedural changes with regard to request processing and compliance/exposure issues.
Additional responsibilities (annual systems calculation reviews, procedure reviews, ask Merrill/Smart Agent updates, etc.).
Proficient in performing basic mathematical calculations (multiplication, division, etc.) with accuracy.
Strong working knowledge of Microsoft Office applications, including Excel, Word, and PowerPoint.
Strong organizational skills, attention to detail, and ability to work independently with minimal supervision.
Strong written and verbal communication skills in order to perform in a proactive and effective manner across all levels of the organization.
Ability to interpret and effectively communicate information contained in account holdings, activity, and balances.
College Degree Preferred
Knowledge of Securities Based Lending products offered by ML (Margin, Options, LMA, ML Home Loans, etc.)
Knowledge of margin and option requirements.
Understanding of the Securities Industry and the various internal and external rules and regulations affecting the industry and department (e.g., Regulation T, Regulation U, FINRA, firm policies and procedures, etc.).
Provides standard reporting and analytical support in a GWIM Operations for one or more product areas 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. While incumbents in this position are responsible for traditional activities such as trade processing/clearance or funds transfer, their day-to-day actions are more focused on administering defined procedures, analysis and report preparation, and exception processing. Requires general understanding of operations and GWIM products. This associate's work may be subject to the review of a Supervisor or Operations Team Manager. Associates in this position will either typically possess a college degree, analytic and systems skills, basic knowledge of finance and have good communication skills; or will have worked within the Operations area for several years and have acquired an understanding of the process. Generally 2-4 years or more experience is preferred.
1st shift (United States of America)
Hours Per Week:
Bank Of America Corporation