Account Management Ops Team Lead - Retirement Billing

Account Management Ops Team Lead - Retirement Billing page is loaded Account Management Ops Team Lead - Retirement Billing Apply locations Pennington time type Full time posted on Posted 4 Days Ago job requisition id Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

This job is responsible for providing subject matter expertise across an account management operations function, and supporting the manager in all aspects of day-to-day management of the team's operations. Key responsibilities include employee training and coaching, addressing employee inquiries, escalations, and approvals including team supervision to ensure processes are executed correctly. Job expectations include escalating issues to the team manager for direction and support when necessary while maintaining a deep knowledge of all key functions supported.

Responsibilities:

• Coordinates and manages team workflow across various systems to ensure daily processes are completed accurately and deliverables are met
• Provides day-to-day training and coaching to team members while addressing employee inquiries and escalations
• Monitors team service levels, volume, performance metric reporting, escalating concerns where appropriate
• Conducts quality assurance reviews and provides routine supervisory manager approvals
• Researches complex operational and client requests, issues, and escalations to identify root cause and assist with remediation efforts and solutions
• Identifies and recommends opportunities for process improvement and risk mitigation to senior management
• Supports risk management and audit processes, including identification of issues, development of mitigation strategies, and exam preparation

Skills:

• Account Management
• Customer and Client Focus
• Oral Communications
• Research
• Analytical Thinking
• Attention to Detail
• Coaching
• Problem Solving
• Written Communications
• Mentoring
• Prioritization
• Result Orientation

Line of Business Description:

Investment & Monetary Controls (I&MC) Teams play a significant role within Merrill and Bank of America Private Bank. Our dynamic department is primarily located in Jacksonville, Hopewell and Dallas and responsible for collateral monitoring, obligations monitoring & enforcement, executive & equity services, securities lending, billing, reconciliation, trade corrections and insurance & annuities support. Additionally, the department is responsible for collecting $13 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.

LOB Description:

The Client and Institutional Billing Department's responsibilities include but are not limited to the following:

• Supporting Clients enrolled in Merrill Lynch's Investment Advisory Program that offers access to diversified portfolios based on strategic asset allocation ideas designed to address Clients' long term investment goals

• Processing of Investment Manager payments to approximately 200 Third Party Investment Managers comprising of over $840 million for customized investment advisory services to Merrill Lynch Clients
• Revenue generation by providing invoicing for over $700 million on an annual basis, receivable reconciliation and revenue reporting for Sub-Accounting and Marketing services as well as Trailing Commissions
• Revenue generation by facilitating billing and fees for Merrill Lynch and Private Bank accounts fees including Merrill Lynch's Investment Advisory Program (combined $13 billion)
• Revenue generation by the creation and distribution of invoices on behalf of Workplace Benefits amounting to over $450 million in fees annually

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

• Maintain an awareness of Managed and/or Retirement Product platform changes, enhancements and requirements
• Make sure that Department standards are met and that updates are provided to management through either immediate communication and/or weekly highlights
• Assist with updates to procedural documentation / process maps, and participate in system testing as needed
• Manage risk by identifying and escalating items appropriately
• Participate in internal and third-party audits
• Ability to research and resolve escalated inquiries from Internal and External Business Partners
• Lead projects and special assignments as needed for department initiatives
• A subject matter expert in reconciliation and/or billing processes
• Collaborative mindset with an ability to build and maintain excellent working relationships

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
• Ability to handle multiple deliverables for either daily processing and/or expanded strategic initiatives
• Professional written and verbal communication skills
• 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
• Career oriented teammate seeking to grow within the organization
• 3 years of experience relating to reconciliation, billing, project management, trading and/or managed products service support

Desired Skills:

• Knowledge of Various Product Types (Mutual Funds, Alternative Investments, Managed Products, Retirement Products, etc.) within an operational setting

Shift:

1st shift (United States of America) Hours Per Week:

40 Pay Transparency details

US - NJ - Pennington - 1400 American Blvd - Princeton Place At Hopewell Bldg. 4 (NJ2140)Pay and benefits informationPay range$27.41 - $37.73 hourly pay, offers to be determined based on experience, education and skill set.Predictable payThis role is compensated with a base salary and is not incentive eligible.BenefitsThis role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

About Us Bank of America is committed to help employees through the transition period when they're displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:
1.Determine the job or types of jobs you want to do and research their responsibilities and qualifications.
2.Think about why you can do the job and make a list of your skills that are relative to the job.
3.Identify experiences or accomplishments that show your proficiency in the skills required for the job.
4.Summarize your abilities, accomplishments and skills into a brief, concise document.

Considerations when writing a resume
•Do be brief. Resumes should be 1-2 pages in length.
•Do be upbeat and active in your wording.
•Do emphasize what you have done clearly and concretely.
•Do be neat and well organized.
•Do have others proofread and critique your resume. Spell check. Make it error free.
•Do use high quality, white or light colored 8 x 11 paper. Use a laser printer if possible.
•Don't be dishonest, always tell the truth about yourself in the most flattering light.
•Don't include salary history or requirements.
•Don't include references.
•Don't include accomplishments that do not support your professional goals.
• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)
•Don't use italics, underlining, shadows or other fancy treatments.

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