Brokerage Operations Representative

Location Designation: Hybrid - 2 days per week 

The NYLIFE Securities Cashiering Operations Representative will be responsible for working with clients to resolve highly sensitive, time critical issues with financial implications. They will be processing time-sensitive customer transactions that require review, research and communication with agents and clients to obtain proper course of action.

Primary Responsibilities:

· Electronic updating and processing of money movement transactions, including check and stock deposits, check, EFT and wire disbursements, rollovers, internal journals, establishing standing payment instructions, periodic investment plans, and Roth Conversions for brokerage accounts

· Responding to customer and agent inquiries in a timely, efficient, and professional manner by quickly identifying the need and formulating an accurate response or solution

· Learn and maintain an understanding of IRS, FINRA, SEC, DOL and other regulatory agencies’ rules and guidelines

· Learn and maintain a basic understanding of core products in relation to brokerage accounts

· Demonstrate advanced knowledge of operational procedures, company policies, and industry principles

Qualifications

· Bachelor's degree- Finance and Business discipline preferred; High school diploma or GED required

· 2+ years of experience in the Financial Services industry, with understanding of stocks, bonds, and mutual funds and industry regulations/procedures required

· Excellent verbal and written communication skills

· Positive, customer focused attitude with a desire to exceed customer expectations

· Must be able to operate in a team environment and contribute to the company and team goals

· Strong technical and analytical skills required

· Ideal candidates will pursue the SIE & Series 7 FINRA licenses

Please note:

· This role requires FINRA licensed and/or FINRA Associated Person fingerprinting

General Description

· Must like working with clients to resolve highly sensitive, time critical issues with financial implications

· Works within established procedures and controls with a moderate degree of supervision

· Must be able to work in a high-volume department with time sensitive customer transactions that require review, research and communication with agents and clients on a timely basis to obtain the proper course of action

· Meet established individual performance expectations and operate in a team environment to contribute to the company and team goals

· Responsible for the accurate, efficient data entry, electronic updating and processing of a multitude of basic and advanced money movement transactions (check and stock deposits, check, EFT and wire disbursements, rollovers, DTC, journals, establish bank and brokerage links, standing instruction periodic investment plans to/from client's bank accounts, responsible for several reports, and Roth Conversions for Retail and Retirement brokerage accounts)

· Respond to inquiries in a timely, efficient, and professional manner by quickly identifying the need and formulating an accurate response or solution.

Technical Expertise:

· Understands how the assigned duties relate to others in the team and how the team integrates with others in the discipline

· Learn and maintain a strong working knowledge of multiple systems including mainframe systems, products, and services. These systems will be used to look up account data and process the client requests. There are many codes, screens, and data flows that must be used to accurately respond to client inquiries and complete their requests

· Learn and maintain an understanding of IRS, FINRA, SEC, DOL, and other regulatory agencies rules and guidelines.

· Learn and maintain a basic understanding of core products in relation to brokerage accounts.

Functional Knowledge:

· Has established skills to perform a range of day-to-day activities

· Bachelor's Degree - Finance of Business discipline preferred or equivalent work experience

· It is expected that the representative will pursue the SIE & Series 7 FINRA licenses

· Excellent verbal and written communication skills along with listening skills

· Positive, customer focused attitude with a desire to exceed customer expectations

· Must be able to operate in a team environment and contribute to the company and team goals

· Strong technical and analytical skills required

· Must have a solid understanding of financial products (stocks, bonds, mutual funds) and industry regulations/procedures. Understanding specific NYLIFE Securities products and procedures is critical to understanding the client requests and accurately determining if the request is in good order

Leadership:

· Has no supervisory responsibilities; manages own workload

· The Brokerage Operations representative must display self-confidence, professionalism and remain composed during stressful high volume periods. Being a team player is necessary to work together to complete the daily workload. Expected to work with minimal daily supervision on their assigned work in all related queues

Problem Solving:

· Recognizes and solves typical problems that can occur in own work area without supervisory approval; evaluates and selects solutions from established options. Escalates more complex issues to a manager on a timely basis.

· The Brokerage Operations representative must be organized and understand procedures, documentation and client account data. Our agents and clients will be looking for accurate processing of their requests and solutions to any unique requests. Knowing the department procedures and tools provided will be critical to a timely and proper resolution to client requests.

Decision Making / Nature of Impact:

· Impacts own team through the quality of the services or information provided; follows standardized procedures and practices and receives regular but moderate supervision and guidance

· Brokerage Operations representatives must use their experience to make sound judgements along with interpreting the meaning of client requests. Must analyze forms/requests to evaluate and determine compliance with our standards. If the request is in good order, then it must be correctly processed on a timely basis. If the request is not in good order, then an immediate call must be made to the agent or client. Following up on tasks and requests until completion is paramount to providing our agents and clients with excellent service.

Communication Requirements:

· This position requires a customer-focused attitude. It will require good communication with both internal and external sources

· The representative is expected to simplify and improve the client experience with our firm

Pay Transparency

Salary Range: $40,000-$55,000 

Overtime eligible: Nonexempt 

Discretionary bonus eligible: Yes 

Sales bonus eligible: No 

Actual base salary will be determined based on several factors but not limited to individual’s experience, skills, qualifications, and job location. Additionally, employees are eligible for an annual discretionary bonus. In addition to base salary, employees may also be eligible to participate in an incentive program.

Please note: This role requires FINRA licensed and/or FINRA Associated Person pre-hire fingerprinting.

Our Benefits

We provide a full package of benefits for employees – and have unique offerings for a modern workforce, including leave programs, adoption assistance, and student loan repayment programs. Based on feedback from our employees, we continue to refine and add benefits to our offering, so that you can flourish both inside and outside of work. Click here to discover more about our comprehensive benefit options or visit our NYL Benefits Site.

Our Commitment to Inclusion

At New York Life, fostering an inclusive workplace is fundamental to who we are and how we serve our communities. We have a longstanding commitment to creating an environment where individuals can contribute their best and succeed together. This foundation is rooted in our core values of humanity and integrity, ensuring that every employee feels valued and supported. By embracing a broad range of perspectives and experiences, we achieve greater success and fulfill our promise of providing financial security and peace of mind to families across all communities. Click here to learn more about New York Life’s leadership in this space.​

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. To learn more about career opportunities at New York Life, please visit the Careers page of www.NewYorkLife.com.

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Job Requisition ID: 92885