Overview Job Title : Lead Analyst, Client Onboarding Operations Department:
Clearance & Collateral Management Location:
Woodland Park, NJ Job Grade Level:
I, Exempt Officer Title:
Senior Associate Who we are:
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations, or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of March 31, 2021, BNY Mellon had $41.7 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news. What we do:
Clearance and Collateral Management comprehensive offering helps clients segregate, optimize, finance and "transform" collateral in support of their financial strategies. Institutional investors and intermediaries look to us for the global expertise, clarity, and operational support they need to navigate an environment of sweeping regulatory change.
Our innovative, insight-driven solutions help our clients, whether on the buy-side or the sell-side, improve the way they manage their collateral, engage in more investment opportunities to help maximize their investment returns and access new financing alternatives. Backed by modern technology and multi-dimensional thinking, we're ready to deliver the expertise, products and services clients need as they address their collateral, liquidity, and securities financing needs. JOB DESCRIPTION: Lead Analyst - Client Onboarding Operations
The Contract Management Services team oversees the end-to-end execution of contracts and account setup to support the day to day Clearance and Triparty Repo activity in the US market. This role has the following main responsibilities to support the business.
- Under minimal direction, onboards clients into the system, opens and closes accounts and handles transitions and conversions to the system. Serves as an advisor to clients as they onboard/transition/convert to/from organization products and solutions. Obtains and reviews the appropriate documentation and reference data, and ensures regulatory aspects of AML and KYC are completed prior to opening accounts.
- Prepares clients for entering new accounts by explaining and articulating the level of documentation required, regulations, complexities in the market and market expectations. Works directly with clients to open new accounts once due diligence on KYC and AML has been completed and works with client and internal parties around asset events. Closes off accounts by first checking for any pending activity or balances remaining in the account.
- Works directly with clients to access documentation requirements and reference data; may be responsible for onsite client support and training to assist with documentation, quality review and submission of documents. Ensure application form is received and tax documentation is received from the investor. Review documents and coordinate with all internal support groups, business managers, and external parties to ensure documents meet certain compliance requirements.
- Leads project management activities for onboarding/transitions/conversions such as reporting, planning, issue / risk tracking, scheduling, effort estimation, day-to-day tracking, and other project documentation preparation. Ensures client receives all necessary training or conducts the training him/herself. Identifies significant gaps or quality issues in transition processes and makes recommendations for improvement.
- Supports complex conversion activities related to a mix of complex institutional client relationships requiring the in-depth understanding of custody and accounting processing activities. Completes an accurate conversion of data on financial statements for daily, weekly, or monthly valuation clients. Supports and reviews control reports to effectively mitigate risks and resolve problems that arise during the conversion process.
- Marshals firm-wide resources (product, technology, marketing, compliance, teams, etc.) to ensure client needs are being addressed. Ensures onboarding/transition/conversion activities meet all compliance, legal and regulatory requirements. May facilitate legal negotiation or document review. Participate in UAT, on boarding and fault resolution.
- No direct reports; acts as a Team Lead and provides guidance to less experienced colleagues. Allocates work to and monitors the work quality of others assigned to the client. Suggests process improvements based on post-mortem transition analysis.
- Responsible for complex, mature and/or global clients or more complex platforms; contributes to the achievement of team and area objectives.
- Strong verbal and written communication skills
- Strong capacity to work autonomously and to be very stress resistant
- Excellent analytical and problem-solving skills
- Strong risk awareness on process business impact
- Ability to thrive in a fast-moving, dynamic environment and to handle and prioritize multiplicity of tasks during the day and at certain points in the day
- Ability to take initiative and demonstrate ability to work independently on tasks when needed
- Bachelors degree or the equivalent combination of education and experience is required.
- 5-7 years of total work experience preferred.
- Experience in an operational area and/or client services preferred.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans. Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clients and communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans. Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clients and communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.