TRADING/OPERATIONS ANALYST
WHAT IS THE OPPORTUNITY?
The role will support two critical functions of the Client Service department within CNR: trading and operations. The analyst will provide support on all asset movement activities as well as trade routing and checking. As a trader: ensures that all equity, mutual fund, and ETF trades are executed accurately at Pershing and with all other outside custodians in a timely manner. Responsible for trade settlement and reconciliation. Additional responsibilities include processing client cash movements, assisting with tax issues, and managing corporate actions.As an operations analyst: review, process, and follow up on all inquiries regarding transfer of assets and account maintenance of electronic transfers & check writing. Assist in questions regarding withdraws, contributions, and RMDs on retirement accounts. Monitor retirement accounts toward the end of the year to insure that their RMD has been satisfied. Collaborate with other departments to resolve complex issues as well as act as the liaison between the Portfolio Manager Team and our clearing firm.
Wealth Management Division: City National Rochdale
As a member of City National Rochdale, the company’s Wealth Management group, you will provide white-glove service focused on intelligently personalized portfolio management for high-net-worth individuals, families, and institutions. For 30 years, City National Rochdale has helped clients achieve their goals, operating as a nimble, responsive, local boutique investment firm.
WHAT WILL YOU DO?
- Administer all trade execution and direct trades to outside custodians. Delegate large trades to outside brokers and follow up, as necessary.
- Inspect and verify any suspicious/erroneous orders.
- Communicate fixed income allocations to outside bond brokers ensuring these trades are booked correctly on our side and also at the contra broker.
- Trade Reconciliation – Review and reconcile reports to ensure trades have been executed and booked correctly.
- Compliance reports – Compile and randomly check trades for best execution prices. Review MSRB, OATS and TRACE reports for fixed income trades. Check trade confirms for accuracy.
- Facilitate client cash movement requests which include checks, wires, and journals.
- Process client retirement withdrawals and or contributions.
- Support portfolio management team by reviewing and responding to corporate actions, margin issues, and low cash balances
- Respond to client requests via email and or phone calls
- Scanning client documents and filing completed paperwork as needed
- Review received asset movement requests. Contact the Portfolio Manager Team to raise cash or obtain further information/documentation. Process the requests on Pershing’s system, and follow up to ensure they are processed in a timely manner.
- Follow up on any pending requests that are awaiting further information or documentation.
- Review requests from the prior day in our bookkeeping system and upload them to our client account database.
- Manage mandatory and voluntary corporate actions by updating our trading system with corporate action details to avoid trading on a called or tendered bond. Coordinate with the research teams to determine how to instruct on voluntary offers.
WHAT DO YOU NEED TO SUCCEED
Must-Have*
- Bachelor’s Degree Accounting, Business, Finance preferred
- Minimum 2 years’ experience with an investment management firm, hedge fund, or Broker Dealer
- Series 7 required (55 required within 90 days)
- Minimum 2 years of experience using Microsoft Office applications
Skills and Knowledge
Compensation
Starting base salary: $28.58 – $45.66 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT
City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.
ABOUT CITY NATIONAL
We start with a basic premise: Business is personal. Since day one we’ve always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.
Equal Opportunity Employer Minorities/Women/Protected Veterans/Disabled