T. Rowe Price Senior Associate, Portfolio Services in Owings Mills, Maryland
Our mission as a leading investment management firm is to help our clients achieve their long-term financial goals. We believe our associates are the key to this mission and we are always looking for talented individuals who share our commitment to our client’s success.If you’re looking for challenging work experiences and the ability to learn in a collaborative culture, we invite you to explore the opportunities available at T. Rowe Price.
PRIMARY PURPOSE OF THE POSITION
This position is responsible for completing daily portfolio support work in a timely and accurate manner for a specified list of processes including cash sweeping, trade settlements, new/terminated account maintenance, client reporting, and other related functions. In doing so, the incumbent is accountable for adhering to all appropriate policies, procedures, and internal controls. The incumbent utilizes a range of systems, is familiar with a variety of instrument types, and routinely interfaces with various custodian banks. As an important part of this role, the incumbent also identifies, resolves and escalates issues that arise as part of their assigned work.
Perform settlement activity for trades of bank debt, private placements, and mutual funds, in addition to maintenancing in-kind share activity.
Following established procedures and controls, sweep cash to/from a TRP money market fund or to the trading desk for specific overnight investment. This process includes a hand-off from BNYM then requires evaluation of potential changes to bank sweep deadlines, market closers, bank holidays, and specific portfolio activity. Other processes include oversight of overdraft or idle balance review, and entries to CNS AH of pre-announced activity.
Coordinate global operational account support regarding account inceptions, maintenance, custodian changes, and terminations. Performs oversight of BNYM reconciliation and recordkeeping duties by ensuring that all transactions required to be reflected in a client account are recorded accurately and timely. This includes maintenancing account activity directly with instructions into the record-keeping system for certain TRP initiated activity.
Manage various reporting and global coordination like Client Directed Reporting from BNYM, review results of ad-hoc reconciliations for remediation, and instructing reopen processing.
Participates in the roll-out and implementation of new procedures and controls that will typically be introduced on a global basis. The incumbent is expected to provide input and subject matter expertise to the design of these procedures and controls.
Performs other operational duties outside the normal scope of Accounting in order to aid with staff coverage, managing peak volumes, etc.
Working knowledge of reconciliation and accounting processes
Good understanding of various securities and markets around the globe
Able to work effectively in a high-pressure environment with strict deadlines
Ability to make sound decisions under extremely tight deadlines, escalating when appropriate
Ability to proactively research issues and follow through to resolution
Fluency in English – both oral and written and Mandarin (for Associates based in Hong Kong)
Strong research and audit skills
Solid analytical and quantitative skills
Ability to influence others effectively
Ability to prioritize multiple tasks efficiently
Working knowledge of generally accepted accounting principles, regulatory guidelines, and other industry regulations
Able to communicate effectively with direct management team and others as needed
Strong skills with MS Excel, Outlook, and related technologies
High school diploma/equivalent and 2 years related work experience, or
Associate degree and 1 year related work experience, or
Directly relevant work experience
T. Rowe Price is an Equal Opportunity EmployerT. Rowe Price is an asset management firm focused on delivering global investment management excellence and retirement services that investors can rely on–now, and over the long term.