Transaction Management Operations Analyst

Company: Disability Solutions
Location: Pennington
Posted on: February 14, 2025

Job Description:

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!Job Description:This job is responsible for moderately complex transaction and fulfillment processing, including the movement of assets into and out of accounts. Key responsibilities include reconciliation, settlement, and trade and transfer support, and providing quality service and operations support for internal business partners and external clients, in accordance with established guidelines and procedures. Job expectations include handling in operational processes which may carry medium to high levels of monetary risk and assisting in training less experienced team members.Responsibilities:

• Performs moderately complex transaction processing and reconciliation with medium to large monetary impact according to the established written guidelines and procedures
• Responds to moderately complex client inquiries via numerous channels to support operational efficiency and quality client service
• Responsible for the analysis and resolution of moderately complex transactions requiring escalations and exceptions
• Proactively identifies risk and opportunities for process improvements based on an understanding of how the work impacts other operational unitsLine of Business Job Description: We are seeking a detail-oriented and analytical Transaction Management Ops Analyst to join the Cost Basis team. As a key member of the team, analyst will play a crucial role in ensuring the accuracy and compliance of transactional activities through diligent management of inquiries, requests, and exception reports via eTask. A strong understanding of company policies, procedures, and IRS regulations is crucial for success in this position.Key Responsibilities:
  • Transaction Processing: Efficiently and accurately process transactions using Profitability and Customer Enhancement (PACE), Tax Lot Correction (TLC) , or similar transaction management systems. This includes reviewing transaction details, verifying accuracy, and ensuring timely completion.
  • Inquiry Handling: Respond to inquiries and requests from the client team/Trust Officers regarding cost basis adjustments, providing clear and concise information and resolution.
  • Exception Management: Monitor and address exceptions identified through system-generated reports, investigating discrepancies, and implementing corrective actions as necessary.
  • Compliance and Regulatory Adherence: Maintain a comprehensive understanding of company policies, procedures, and IRS regulations related to cost basis reporting. Ensure all transactions adhere to regulatory requirements and internal guidelines.
  • Financial Analysis: Utilize your knowledge of financial statements and records to analyze cost basis information.
  • Collaboration: Work closely with cross-functional teams within Private Bank to resolve transaction-related issues and improve processes.
  • Audit Support: Maintain accurate transactional data, supporting documentation, and approvals as needed.
  • Continuous Improvement: Stay updated on regulatory changes, procedural changes, and best practices related to cost basis reporting. Proactively suggest and identify opportunities for process improvements to enhance efficiency and accuracy.Required Skills:
    • Proven experience (2 years) in transaction management, financial operations, or similar role within the financial services industry.
    • Solid understanding of financial statements, records, and accounting principles.
    • Familiarity with IRS regulations and cost basis reporting requirements preferred.
    • Prior experience within PACE/TLC or similar transaction management systems.
    • Strong Analytical mindset with the ability to identify discrepancies, mitigate risk, and implement solutions.
    • Excellent communication skills, both verbal and written, with the ability to interact effectively with client teams at all levels.
    • Ability to work independently and collaboratively in a fast-paced environment, managing multiple priorities effectively. Especially during tax season (Jan-Apr).
    • Overtime may be required to support business needs.
    • Proficient with Microsoft Office, Outlook, Word, and Excel
    • Ability to create and/or run macrosSkills:
      • Attention to Detail
      • Customer and Client Focus
      • Oral Communications
      • Prioritization
      • Problem Solving
      • Account Management
      • Analytical Thinking
      • Coaching
      • Written Communications
      • Mentoring
      • Research
      • Result OrientationShift:1st shift (United States of America)Hours Per Week: 40

Keywords: Disability Solutions, Trenton , Transaction Management Operations Analyst, Professions , Pennington, New Jersey