What are the responsibilities and job description for the Brokerage Operations Margin Specialist position at Truist Inc?
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Regular or Temporary :
Regular
Language Fluency : English (Required)
Work Shift :
1st shift (United States of America)
Please review the following job description :
This is an in-office position located in Richmond, VA.
Responsible for monitoring the status of client accounts to ensure they are operating within the industry rules and regulations for margin, filing extensions for trades, and debit collection. Responsible for protecting the firm from inherent risks from securities transactions. Responsible for reviewing and approving money movement transactions.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
Responsible for margin processing to include monitor account activity, review reports, perform calculations, issue margin call letters to clients, follow up on margin calls due and process sellouts when necessary.
Monitor trades due for extension or sellout by reviewing reports and contacting the front office. Request extension and verify extension was granted by checking the FINRA portal / website.
Review trade exception reports to include day trading and free riding to determine if action needs to be taken.
Money movement processing to include review and approve wires, third party checks, internal journals, and ACH setup (including periodic requests) as well as ensure proper documentation and client approval / authentication is provided.
Collateral loan processing to include the setup of collateral accounts, removing the pledge on collateral accounts when the loan is released, and approving all collateral loan distribution requests by verifying there is sufficient collateral in the account.
Debit tracking to include review reports and notify the front office about debits in accounts. Follow up on the due date and write off debits as needed.
Assist the front office and clients by researching and responding to inquiries and requests for information.
Remain knowledgeable about rules and regulations related to margin, trade extensions and money movement.
QUALIFICATIONS
Required Qualifications :
The requirements listed below are representative of the knowledge, skill and / or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Bachelor's degree or equivalent education, training and work-related experience
Provide high-quality client service
Ability to handle multiple assignments; work under pressure in a fast paced environment
Attention to detail with emphasis on accuracy and quality
Strong organizational, verbal and written communication skills
Demonstrate proficiency in Microsoft Office software products
Preferred Qualifications :
- One (1) year of brokerage industry experience
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation : All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site ()
Truist supports a diverse workforce and is an Equal Opportunity Employer that does not discriminate against individuals on the basis of race, gender, color, religion, citizenship or national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Truist is a Drug Free Workplace.
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