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GENERAL FUNCTION: In an area of high dollar volume, client sophistication and trust, and high client expectations, accountable for support for Relationship Manager on assigned group of custody accounts (more complex and/or higher risk - under general supervision). Serve as the primary contact with clients and/or their business partners and act as liaison between the client, relationship management and back-office processing operations. Adhere to internal department procedures and deadlines tonsure regulatory compliance and exemplary client service. Exceed established departmental service levels. Improve service delivery by working in conjunction with operations, technology and relationship management. Verify and approve daily processing activities within assigned custody team.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES & RESPONSIBILITIES:
Fully understand client expectations and operating requirements to ensure service level standards are exceeded.
May be temporarily assigned to a #lead# role during times of limited supervisory coverage.
Will verify and approve daily processing activities within assigned custody team.
Lead or assist with special projects.
Serve as backup to Global Custody Services Supervisor as needed.
Makes suggestions for process improvement and escalates issues of departmental service concern to the attention of management in a timely manner.
Provide support to team members in resolving issues and answering questions.
Serve as control point person in performing compliance requirements.
Train/Mentor new team members in all aspects of Global Custody Administrator functions.
Works independently as primary point of contact and support on assigned custody account relationships (more complex and/or higher risk) which include monitoring, reviewing and balancing account activities involving Global and Domestic cash flows,foreign exchanges, income repatriation, physical security handling, overdraft and failed trade resolution and account maintenance to internal system records.
Research and resolve issues presented by clients, their partners, relationship management and all other internal and external clients and communicate in a timely manner. Escalate issues/problems appropriately, according to established escalation paths.
Review and obtain client signature on Tax Documentation in order to maintain favorable tax status in Global Markets.
Partner with Securities Lending Agent and/or Investment Advisor on global activity, such as shares segregated due to proxy voting, registered/unregistered shares for JPY dividends, and debit/credit interest from sub-custodians.
Research causes for overdrafts and prepare claims to Investment Manager and/or Securities Lending agent as needed
SUPERVISORY RESPONSIBILITIES: None.
MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:
Bachelor's degree in business, finance, accounting or related field or equivalent work experience.
Reconcilement experience preferred.
Minimum 2 years experience as a Global Custody Administrator I or 4 years experience working in the Financial Services industry, preferably in securities processing, mutual fund operations or brokerage operations environment.
Proven excellent customer service skills. Must be service focused and oriented toward exceptional customer experience.
Proven excellent written and verbal communication skills including the ability to effectively communicate on behalf of the Bank to both internal and external clients.
Proven experience operating in an environment that stresses both individual accountability and team-based performance.
Proven excellent interpersonal/relationship skills.
Proven ability to manage multiple client accounts and projects with varying priorities and deadlines.
Proven ability to exercise a high degree of independent judgment and handle confidential information.
Proven ability to recognize potential problems and formulate solutions in a timely manner.
Familiarity with securities systems and technology, securities products, and industry trends including: Fifth Third Direct, BNY Mellon's Workbench, Mobius, ACE, Bloomberg, Depository Trust Company, Xcitek Solutions Plus, Fee Advantage and Roscoe.
Ability to use all Microsoft Office software including: Excel, Word and Outlook.
Resourceful and results oriented.
#LI-MW1
Institutional Account Administrator II
At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
LOCATION - Farmington Hills, Michigan 48331-3552
Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes – no matter how they are submitted – will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.
Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
