Merrill Client Billing - Account Management Ops Team Lead

Company: Disability Solutions
Location: Jacksonville
Posted on: April 3, 2025

Job Description:

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 is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.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 providing subject matter expertise across an account management operations function, and supporting the manager in all aspects of day-to-day management of the team's operations. Key responsibilities include employee training and coaching, addressing employee inquiries, escalations, and approvals including team supervision to ensure processes are executed correctly. Job expectations include escalating issues to the team manager for direction and support when necessary while maintaining a deep knowledge of all key functions supported.Responsibilities:

• Coordinates and manages team workflow across various systems to ensure daily processes are completed accurately and deliverables are met
• Provides day-to-day training and coaching to team members while addressing employee inquiries and escalations
• Monitors team service levels, volume, performance metric reporting, escalating concerns where appropriate
• Conducts quality assurance reviews and provides routine supervisory manager approvals
• Researches complex operational and client requests, issues, and escalations to identify root cause and assist with remediation efforts and solutions
• Identifies and recommends opportunities for process improvement and risk mitigation to senior management
• Supports risk management and audit processes, including identification of issues, development of mitigation strategies, and exam preparationSkills:
  • Account Management
  • Customer and Client Focus
  • Oral Communications
  • Research
  • Analytical Thinking
  • Attention to Detail
  • Coaching
  • Problem Solving
  • Written Communications
  • Mentoring
  • Prioritization
  • Result OrientationBusiness Description: The Merrill Client Billing Team's responsibilities include but are not limited to the following:
    • Supporting Clients enrolled in Merrill Lynch's Investment Advisory service that offers access to diversified portfolios based on strategic asset allocation ideas designed to address Clients' long-term investment goals.
    • Managing and assessing monthly/quarterly billing events for more than 2.6 million accounts enrolled in a managed strategy and performing over 10,000 maintenance requests related to billing
    • Processing of Investment Manager payments to approximately 200 Third Party Investment Managers comprising of over $840 million for customized investment advisory services to Merrill Lynch Clients
    • Revenue generation by providing invoicing for over $700 million on an annual basis, receivable reconciliation and revenue reporting for Sub-Accounting and Marketing services as well as Trailing Commissions
    • Revenue generation by facilitating billing and fees for Merrill Lynch and Private Bank accounts fees including Merrill Lynch's Investment Advisory Program (combined $13 billion)
    • Revenue generation by the creation and distribution of invoices on behalf of Workplace Benefits amounting to over $450 million in fees annuallyThe duties of this particular role include, but are not limited to:
      • Lead a team of four associates in their day-to-day operations ranging from controls and quality assurance processes; third-party investment manager payments; Record Retention; Accounts Receivable updates etc.
      • Identify and escalate potential issues while performing billing tasks and identify potential improvement ideas to organize the processes efficiently; document and work towards implementing these ideas
      • Lead quality assurance processes focusing in the accuracy and timeliness of team's processes, metrics gathering and reporting and controls
      • Work closely with senior leadership on strategic projects and initiatives of Wealth Management Operations that impacts the team and line of business
      • Maintain an awareness of Managed Product platform changes, enhancements, and requirements.
      • Make sure that Department standards are met and that updates are provided to management through either immediate communication and/or weekly highlights.
      • Assist with updates to procedural documentation / process maps and participate in system testing as needed.
      • Manage risk by identifying and escalating items appropriately.
      • Participate in internal and third-party audits.
      • Ability to research and resolve escalated inquiries from Internal and External Business Partners
      • Lead projects and special assignments as needed for department initiatives.
      • A subject matter expert in reconciliation and/or billing processes
      • Collaborative mindset with an ability to build and maintain excellent working relationships.Skills:
        • Ability to prioritize and handle multiple job related duties efficiently while exercising sound judgment to ensure all quality measurements, deadlines and business objectives are met
        • General knowledge of accounting and financial reporting
        • Ability to handle multiple deliverables for either daily processing and/or expanded strategic initiatives
        • Professional written and verbal communication skills
        • Demonstrates attention to detail
        • An understanding of technology and the ability to incorporate that understanding into process improvements
        • Ability to work independently while effectively managing and finding resolution to complex situations
        • Career oriented teammate seeking to grow within the organization
        • 2-3 years of experience relating to reconciliation, billing, project management, trading and/or managed products service support
        • Knowledge of Various Product Types (Mutual Funds, Alternative Investments, Managed Products, Retirement Products, etc.) within an operational settingShift:1st shift (United States of America)Hours Per Week: 40

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