Transaction Management Ops Analyst

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
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 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.

LOB Job Description:

The Institutional Retirement Payroll, Benefits, and Disbursements Team within WMO is responsible for payroll and benefits processing, money movement, participant-level maintenance and tax reporting support for 401(k) Defined Contribution, Non-Qualified Deferred Compensation (NQDC), Institutional Trust and Custody, Defined Benefit and Health Benefits Solutions (HBS) products.

The Employee Benefit Trust Disbursements (EBT) Team facilitates the processing of pension payment disbursements, payee maintenance updates, reconciliation, tax reporting/testing, money movement, and deceased payment recoveries. Products supported include Institutional Trust & Custody.

This Transaction Management Ops Analyst is responsible for complex transaction and fulfillment processing, including the movement of assets into and out of accounts.

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 units

Required Qualifications:

• 1 year of Financial Services experience
• Exceptional attention to detail and the ability to hold others accountable without direct supervision
• Experience evaluating detailed client provided documents for accuracy, completeness and compliance with specific requirements to approve completion of work
• Experience following standard operating procedures, finding errors and working with partners to resolve issues
• Flexibility with ability to handle a variety of tasks and projects independently
• Strong written and verbal communication skills; able to influence/challenge and negotiate to keep all parties engaged in the process
• Proven ability to provide comprehensive solutions to complex needs and/or problem
• Ability to prioritize and meets established deadlines
• Excellent verbal and written communication skills
• Ability to adapt to a changing environment 
• Exceptional attention to detail and the ability to hold others accountable without direct supervision

Desired Qualifications:

• Advanced Microsoft Excel and Word skills
• Familiarity with Employee Benefit Trust and/or pension products
• Prior retirement experience in 401(k) operations
• Familiarity with MLII/iGate applications
• ​Highly organized
• Self-starter attitude and demonstrates initiative
• Ability to multi-task and handle multiple projects in a short time period

Skills:

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

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Pennington - 1400 American Blvd - Hopewell Bldg 4 (NJ2140)

Pay and benefits information

Pay range$25.00 - $36.92 hourly pay, offers to be determined based on experience, education and skill set.

Predictable pay

This role is compensated with a base salary and is not incentive eligible.

Benefits

This 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.