Senior Operations Analyst - Escrow Management Service
Scranton, Pennsylvania
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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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
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 analyzing the day-to-day issues, researching, and providing resolution for various issues identified within a business unit. Key responsibilities include building new procedures, completing complex non-routine analytics, creating reports, and reviewing exception testing and processing. Job expectations include supporting continuous improvement of processes by identifying trends and understanding the operations environment.
Line of Business Job Description:
This job is responsible for supporting Escrow Management Service (EMS) product operations activities that include both processing and verification of client requests.Form W-9 and W-8 validation is heavily emphasized as it relates to 1099 and 1042 reporting. The candidate will act as the final reviewer on escrow sub account setups and sub account maintenance for tax-related activities for EMS account customers. Key responsibilities to include reading, analyzing and/or determining the appropriate decision point when verifying mainframe records against W9 and W8 Forms, timely and accurately processing incoming W9 Forms to an internal service mailbox, which includes casing and coding requests for processing and record retention purposes. Candidate will also be responsible for research and resolution of reject/mismatch items. Candidate will work with internal and external business partners/clients as needed. Other responsibilities include assisting with procedural reviews, internal audits, gathering statistical information and producing monthly reports for the bank's Enterprise Independent Testing Team. Conduct simple/complex research and provide timely responses to inquiries by utilizing the various bank systems to support client requests. The candidate must actively support a team environment and quickly shift priorities while focusing on the needs of our customers while maintaining an organized approach to managing daily activities and simultaneously handling multiple demands to achieve optimal efficiency and productivity. The candidate should be able to work quickly without sacrificing quality and should also demonstrate the ability to build effective relationships with business partners and clients. Provides guidance to associates within own unit regarding procedural, technical and/or operational changes. Incumbents should have a full working knowledge of operations acquired through experience in an operations environment and on the job training. Individuals typically have 2 to 4 years of experience.
Responsibilities:
Leads implementation for products, services, and operational solutions
Manages the design, documentation, implementation, and monitoring of new products and services
Consults on procedural, technical, and operational changes
Advances business products knowledge within operations environment
Fosters relationships with partners and teammates
Inspects data to identify issues and trends
Presents reporting on key performance and implementation status
Required Qualifications:
?Individuals typically have 2 to 4 years of experience in banking and/or treasury management services.
Intermediate proficiency (1-3 years of experience) in written (including grammar and spelling) and verbal communications.
Ability to analyze and resolve discrepancies when reviewing mainframe application against the setup form and/or tax form.
Strong attention to detail.
Mainframe, ImageView, IMPACS, IDS experience.
Previous positions must have included inline or post-process verification activities.
PC proficiency - experience with all Microsoft Office applications, particularly Excel and Microsoft Access Databases.
Experienced in writing and modifying procedures.
Manages multiple priorities with attention to detail
Some working knowledge of tax forms, 1099s / 1042s
Strong business partnering and relationship management skills
Self-motivated; able to work unsupervised
Strong time management and task prioritization skills with the ability to manage their own time and tasks
Able to ask critical questions to identify opportunities
Manages risk effectively
Desired Qualifications:
Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
Excels in working among diverse viewpoints to determine the best path forward
Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner
Commitment to challenging the status quo and promoting positive change.
Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world?
Skills:
Attention to Detail
Monitoring, Surveillance, and Testing
Policies, Procedures, and Guidelines Management
Regulatory Compliance
Written Communications
Adaptability
Business Acumen
Continuous Improvement
Critical Thinking
Process Mapping
Change Management
Consulting
Data Management
Reporting
Research
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
View your "Know your Rights (https://www.eeoc.gov/sites/default/files/2023-06/22-088\EEOC\KnowYourRights6.12.pdf) " poster.
View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
