(Provide a brief overview of the process)
Centralized Document Control team at Global Business Services carry out inline review and approval of retail and retirement financial transactions entered by MLWM Branch office associates and ML Edge Distributions Team. Transactions include full and partial transfers initiated out of ACAT eligible accounts based on paperwork, Same Name (SN) transfers, transactions entered via Branch Verbal Recording (excluding Fed Funds and high threshold transactions) and Standing Letter Enrollments / Updates.
These transactions involve contribution/distribution and brokerage account transfers related to 401k BASIC, 403B, IRA, IRRA, ROTH, SEP, SIMPLE, ESA, 529, BASIC & all retail brokerage accounts. Distribution requests include, but are not limited to: journal entries, checks, fed funds, broker transfers, MMTRN etc. This includes complex transaction requests involving legal and special distributions.Job Description*
(Provide a high level overview of the role and scope of responsibilities)
Associate will be a contributing member of the Centralized Document Control Team within Banking, Brokerage Operations and Client Services. He/she will drive productivity & accuracy, generate client satisfaction.Responsibilities*
(Outline the key tasks required to be performed by the incumbent) Review and approve distribution entered based on Letter of authorization/Verbal Recording out of a retirement or Retail Brokerage account by Edge Distributions or MLWM Branch associate in the form of Either JE, Money Movement and Check.
- Reviews and approve transactions from ML brokerage accounts for accuracy and compliance as these Disbursements have been entered by CA/FA per verbal instructions from client at branch, by phone or Through call over the recorded line at ML branch.
- Ensure the Tax obligation are followed for all the distribution as per the State/Fed Tax Rules (Mandatory/ Opt out/Voluntary)
- Ensuring the appropriate forms/documents have been provided for respective transactions and are in line with the regulations.
- Review and approval of asset transfer requests for the MLWM client base.
- Review and approve Standing Letter of Authorization (STLOA) and Standing letter of Instruction (STLOI) entered at Branch
(Provide information against each of the pre requisites listed below)***Please do not fill anything in this cell***
(Provide functional title of the job that commensurate with the job requirements)Team Member
(Provide minimum education qualification required for the role)Graduates preferably in Commerce
Certifications If Any
(Provide job related certifications if required)NA
(Provide Min To Max Years Of Experience Required)0-24 Months
(Provide fundamental/ primary skills that serve as a basis for the role)Basic banking and financial knowledge (like US Retirement Products)
- Good communication and listening skills.
- Strong analytical skills with great attention to details to perform the document review and reconciliations
- Organized and able to multi-task in a fast-paced environment
(provide good to have skills)Highly motivated, able to work independently
- Excellent interpersonal skills, positive attitude, team-player
- Willingness to learn and adapt to changes