Operations Specialist I - Margin

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At RBC, our culture is deeply supportive and rich in opportunity and reward. You will help our clients thrive and our communities prosper, empowered by a spirit of shared purpose.

Whether you're helping clients find new opportunities, developing new technology, or providing expert advice to internal partners, you will be doing work that matters in the world, in an environment built on teamwork, service, responsibility, diversity, and integrity.

Job Title

Operations Specialist I - Margin

Job Description

What is the opportunity?

To ensure margin accounts have proper documentation and all (cash and margin) accounts are managed in accordance with the rules set forth by regulatory bodies and RBC Capital Markets. Provide timely, detailed, accurate account information, notifications and account calculations as required to Branches/Firms/Advisor Services/Operations personnel. Provide exceptional customer service, analyze, assess and mitigate risk while reviewing account activity. Consistently document comprehensive notes within systems and/or within reports.

This position interacts with Financial Advisors, Client Associates, Branch and Complex Management, Firm Principals as well as other internal clients within Operations, Branches, Correspondent Firms and Advisor Services.

What will you do?

• Monitor assigned reports and/or accounts each day for inappropriate transactions, requests and margin issues that may pose risk to RBC Capital Markets, Correspondent Firms, Advisor Services and/or the client.
• Demonstrate a thorough understanding of margin and options strategies and ability to complete complex mathematical calculations quickly and accurately.
• Review margin agreements and approve, reject or request additional information based upon the review.
• Escalate potential issues and/or concerns to department management immediately.
• Timely and accurately communicate with Branches/Firms/Advisor Services/Operations personnel of relevant action items due to insufficient funds from Investment Access checks, Standard Checks, ACH transactions, Cash Advances and Visa charges and/or Trade collection and/or non-trade related debits. Obtain appropriate information and course of action when necessary. Record violations and take appropriate action per policy.
• Evaluate and place accounts on cash in advance restriction when needed.
• Review RBC Workflow for Auto-GSR and GSR requests including, but not limited to: type 2 Journals, Prepayments, Margin activity and General Inquiries from Branches/Firms/Advisor Services, ensuring proper documentation and completion as appropriate.
• Provide exceptional customer service to Branches/Firms/Advisor Services/Operations personnel through the proper use of communication; including but not limited to requests regarding money balances, buying power, procedures, collection of calls, interpretation of rules and other information concerning the status of client accounts.

What do you need to succeed?

Must-have

• 4-year degree from an accredited university (or equivalent) OR High school diploma (or equivalent) AND 3 years of job-related experience.
• Demonstrated problem identification, analytical and resolution skills required to support escalated issue resolution and/or oversight requirements associated with exception-based complex processes.
• Ability to handle multiple priorities in a fast paced and deadline driven environment with a high attention to detail and ability to maintain confidentiality.
• Exceptional interpersonal, verbal and written communication skills, with an ability to work effectively with all levels of staff and management.
• Proficient computer skills in Windows-based software products including Word, Excel and Outlook.

Nice-to-have

• 4-year degree from an accredited university in business, finance or related field.
• 3+ years business, finance, customer service and/or accounting/bookkeeping experience.
• Previous experience in the securities or banking industry preferred.
• Ability to integrate Excel and Access databases into daily work.

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Flexible work/life balance options
• Opportunities to do challenging work
• Opportunities to take on progressively greater accountabilities
• Access to a variety of job opportunities across business

Job Summary

Address:

Minneapolis, Minnesota, United States of America

City:

USA-MN-MINNEAPOLIS

Country:

United States of America

Work hours/week:

40

Employment Type:

Full time

Platform:

Wealth Management

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2023-06-27

Application Deadline:

2023-08-04

Inclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.

We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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Expand your limits and create a new future together at RBC. Find out how we use our passion and drive to enhance the well-being of our clients and communities at rbc.com/careers.