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Representative, Depository Reconciliation
BNY Mellon’s Pershing provides global financial solutions to advisors, asset managers, broker-dealers, family offices, fund managers, registered investment advisor firms and wealth managers. Our Bank and Depository Balancing Department, within Pershing’s Corporate Services Division, is seeking a full time Depository Reconciliation Representative to join our team in Lake Mary, Florida. This is an exciting entry-level position offering opportunity to grow your financial services career with a leading clearing broker-dealer.
The Depository Reconciliation Representative is responsible for ensuring Pershing’s control accounts are balanced to their corresponding depository and bank accounts. The Representative accomplishes this by performing daily reconciliations of activity, positions and balances in firm-controlled domestic and international accounts, including DTCC, OCC, NSCC, CNS, precious metals, foreign currency and securities custody and clearance. This role is part of a larger team with responsibilities including domestic and international bank account balancing.
- Review depository/bank account and stock record/general ledger activity, position and balance data for completeness and accuracy
- Match corresponding depository/bank and stock record/general ledger transactions to identify discrepancies causing out of balance conditions
- Research these reconciliation breaks to identify root cause and update associated reporting accordingly
- Communicate break reporting and escalate aged, high value and red flag items to management and business partners
- Collaborate with internal and external business partners located in different regions and overseas
- Contribute to process improvement, system enhancement and control-strengthening initiatives
- Perform stock record control
- Performs daily reconciliations, deciphering basic exceptions between systems, clients, institutions, etc. for securities, cash and/or derivatives. Processes client accounts. Focus is on learning the reconciliation process.
- Deciphers basic exceptions and researches why exceptions exist. Enters reconciliation data and ensures proper aging. Communicates simple break reports to either internal groups within the firm and possibly correspondents outside the firm. Monitors resolution.
- Leverages a basic understanding of the business and understanding of exceptions to support basic communications and make adjustments correctly.
- Assists in daily, weekly and monthly reporting using an understanding of the stock record and knowledge of basic accounting.
- No direct reports. Impact related to own work, supports the achievement of team objectives.
QualificationsHigh School/secondary school or the equivalent combination of education and experience is required. Bachelors degree preferred. 1-2+ years of total work experience preferred. Experience in brokerage/banking operations preferred. Strong knowledge of Microsoft Office is prefrred Experience with SWIFT and BAI files a plus and preferred Experience in brokerage or banking operations preferred
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 & 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.
Pershing provides critical business process, financial and technology solutions for financial organizations around the globe. We operate behind the scenes to power transformational change for broker-dealers, registered investment advisors, independent financial advisers, hedge fund and '40 Act fund managers and individual investors. We strive to be innovators, developing open architecture technology and financial solutions to support our customers' growth. We advocate on behalf of our customers and help them respond to regulatory reform and drive positive outcomes for our industry and investors. From our core business as an industry-leading trade execution, clearing and custody provider, we have evolved into a global multifaceted firm that provides investment solutions, forward-thinking technology-driven efficiencies, practice management and service excellence.
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer.
Minorities/Females/Individuals With Disabilities/Protected Veterans.
Primary Location: United States-Florida-Lake Mary
Internal Jobcode: 70571
Job: Asset Servicing
Requisition Number: 1800851