Margin Specialist I

Job Description

To ensure margin accounts have proper documentation and all (cash and margin) accounts are managed in accordance with the rules set forth by regulatory bodies and RBC Capital Markets. Provide timely, detailed, accurate account information, notifications and account calculations as required to Branches/Firms/Advisor Services/Operations personnel. Provide exceptional customer service, analyze, assess and mitigate risk while reviewing account activity. Consistently document comprehensive notes within systems and/or within reports. 

What will you do?

• Monitor assigned reports and/or accounts each day for inappropriate transactions, requests and margin issues that may pose risk to RBC Capital Markets, Correspondent Firms, Advisor Services and/or the client.

• Demonstrate a thorough understanding of margin and options strategies and ability to complete complex mathematical calculations quickly and accurately.

• Review margin agreements and approve, reject or request additional information based upon the review.

• Escalate potential issues and/or concerns to department management immediately.

• Timely and accurately communicate with Branches/Firms/Advisor Services/Operations personnel of relevant action items due to insufficient funds from Investment Access checks, Standard Checks, ACH transactions, Cash Advances and Visa charges and/or Trade collection and/or non-trade related debits. Obtain appropriate information and course of action when necessary. Record violations and take appropriate action per policy.

• Evaluate and place accounts on cash in advance restriction when needed.

• Review RBC Workflow for Auto-GSR and GSR requests including, but not limited to: type 2 Journals, Prepayments, Margin activity and General Inquiries from Branches/Firms/Advisor Services, ensuring proper documentation and completion as appropriate.

• Provide exceptional customer service to Branches/Firms/Advisor Services/Operations personnel through the proper use of communication; including but not limited to requests regarding money balances, buying power, procedures, collection of calls, interpretation of rules and other information concerning the status of client accounts.

• Provide daily support and assistance to co-workers as needed.

• Perform other duties as necessary.

What do you need to succeed?

Must-have

• Knowledge of economic, financial and accounting principals

• Four-year degree or equivalent related experience

• Previous Customer Service experience

• Proficient in the Microsoft Office package including Outlook, Word and Excel

• Must be able to maintain high quality work and superior client service, while enforcing policies and procedures

• Must be flexible, able to work independently and within a team environment

Nice-to-have

• SIE/S99/S7

• Risk Assessment

• Strong multi-tasking skills

• Strong time management skills

• Strong oral and written communication skills

• Strong math and finance aptitude

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable

• Leaders who support your development through coaching and managing opportunities

• Ability to make a difference and lasting impact

• Work in a dynamic, collaborative, progressive, and high-performing team

• Flexible work/life balance options

• Opportunities to do challenging work

• Opportunities to take on progressively greater accountabilities  

• Access to a variety of job opportunities across business

The good-faith expected salary range for the above position is $50,000 -$85,000 depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off