The Securities Based Lending Collateral Specialist handles multiple responsibilities, including:
- Daily review of account balances and holdings to determine adherence with firm and regulatory collateral requirements to reduce risk to clients and the firm.
- Processing service requestsincluding, but not limited to Margin, Fed Funds, Checks, Journal Entries and Periodic Distributions.
- Handling inbound calls from branch offices via the MLSN network while maintaining high survey results and providing correct information and resolution.
- Includes ability to understand and effectively communicate ML systems, including Accounts Processing (AP), Brokerage Authorization (BA), Genesis, Naked Options Stress Analysis (NOSA), and the Commitment Tracking System (CTS)
- Performing User Acceptance Testing (UAT) of the above mentioned systems, including occasional Saturday release testing.
- Calculating collateral requirements, including margin and options strategies.
- Contributing to the team by implementing procedural changes with regard to request processing and compliance/exposure issues.
- Additional responsibilities (annual systems calculation reviews, procedure reviews, askMerrill/Smart Agent updates, etc.).
- Proficient in performing basic mathematical calculations (multiplication, division, etc.) with accuracy.
- Strong working knowledge of Microsoft Office applications, including Excel, Word, and PowerPoint.
- Strong organizational skills, attention to detail, and ability to work independently with minimal supervision.
- Strong written and verbal communication skills in order to perform in a proactive and effective manner across all levels of the organization.
- Ability to interpret and effectively communicate information contained in account holdings, activity, and balances.
- College Degree Preferred
- Knowledge of Securities Based Lending products offered by ML (Margin, Options, LMA, ML Home Loans, etc.)
- Knowledge of margin and option requirements.
- Understanding of the Securities Industry and the various internal and external rules and regulations affecting the industry and department (e.g., Regulation T, Regulation U, FINRA, firm policies and procedures, etc.).
- Familiarity with processing financial transaction requests via ASAP & ATCS.