Senior Analyst, Abandoned Property

T. Rowe Price Owings Mills, MD
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

The Central Control Group ("CCG") Sr. Analyst, CCG Abandoned Property will be primarily responsible for compliance oversight and operational support over the firm's policies and procedures for Abandoned Property and Escheatment. This is a very complex regulatory topic that has become an area of greater focus in the financial services industry. The incumbent will need to develop a strong understanding of the various state rules and regulations that govern the activities and requirements related to Abandoned Property and stay abreast of the industry trends. The Sr. Analyst provides guidance and direction to CCG management and the CCG Compliance Team with regard to the application of Abandoned Property regulations. The incumbent will be responsible for consulting and liaising with management across Services and Technology, USIS, Legal, Compliance and Risk Management, Internal Audit, Enterprise Risk and Firm Wide Compliance and will be expected to influence firm direction and decisions associated with Abandoned Property. The incumbent will be expected to apply business experience and judgment to establish, develop, test and implement sound Abandoned Property procedures encompassing operational and risk management objectives. The incumbent serves as the Abandoned Property liaison for external contacts such as vendors, auditors, and regulators, to mitigate compliance/risk-related concerns and to continuously enhance the Abandoned Property program.

PRINCIPAL RESPONSIBILITIES

Abandoned Property and Escheatment Process Oversight - Maintains robust regulatory and industry knowledge and expertise in connection with Abandoned Property and Escheatment. Responsible for updates to related TRP policies and procedures and ensures they are aligned with regulatory and operational requirements. Makes recommendations and implements changes to the internal business policies and practices as required. Utilizes a consultative approach to guide and influence CCG Management, as well as leaders across the entire Individual Investor channel, regarding Abandoned Property requirements and related decisions. Oversees completion of the daily CCG Abandoned Property functions and tasks and consults with CCG associates on related processes for the processes to meet regulatory requirements in addition to ensuring operational effectiveness. Plays a critical role in influencing management to make needed changes. Oversees development of policies and procedures to ensure compliance with all applicable regulatory requirements and other industry change and identification of key business risks, and risk-mitigation controls. Serve as a subject matter expert and a point of contact in coordination for matters relating to Abandoned Property. Regularly reviews and the various state requirements to ensure updates are accounted for in internal processes. Maintains a collaborative and consultative partnership with groups such as Legal, Compliance and Risk Management, and Internal Audit for vetting Abandoned property related matters; applies knowledge of the subject matter to enhance the overall processes and procedures. May assist in similar capacity in other compliance related matters such as AML and Fraud Programs. Leads cross-functional teams on a project basis.

Coordination of Firm Initiatives and Influence of Business Decisions – Coordinates collaborative efforts between business units to attempt to contact lost shareholders. This includes written correspondence and callout campaigns. Updates management regularly to set expectations on required client outreach and expected response. Utilizes technical and job knowledge to effectively drive and influence process changes with stakeholders across different areas of the firm. Serves as a consultant to Services & Technology management and influences business in setting direction and developing tactical action plans resulting in sound processes pertaining to Abandoned Property and other compliance requirements as needed. Consults with business managers to ensure business process effectiveness and makes recommendations for improved tools and processes. Responsible for regular reporting to senior management on impacted assets, including accounts at risk and dollars escheated. This includes coordination and facilitation of management meetings to discuss this topic. Expected to drive business decisions and influence management on escheatment decisions. Responsible for strategic thought around technological enhancements and related process improvement. Expected to consult with and influence management in this area.

Primary Regulatory Contact and Vendor Relationship Manager – Responsible for oversight of all applicable Federal and State requirements in the abandoned property space and expected to ensure all firm policies and procedures are compliant. Serves as operational contact for all regulatory inquiries and audits related to abandoned property. Partners with Legal, Compliance & Risk Management, Firm Wide Compliance, Enterprise Risk Management and Internal Audit as needed to ensure procedures are adequately designed and followed accordingly. Serves as Vendor Relationship Manager for abandoned property and escheatment related vendors. Responsible for holding vendors accountable to service level standards and contractual obligations. Expected to conduct regular due diligence site visits to ensure vendor controls are adequate.

Industry Group Representative – Represents TRP in financial services industry Abandoned Property working groups (such as ICI) for purposes of benchmarking and ensuring an appropriate level of alignment with industry best practices; champions initiatives to improve quality and efficiency by challenging the current operating environment; and developing and influencing industry best practices by providing options and recommendations and is able to influence team and business partners to implement change.

QUALIFICATIONS

Required

* College degree and 2 years of related work experience, or

* Associate degree and 4 years related work experience, or

* High School diploma/equivalent and 6 years related work experience

* Ability to understand complex regulatory requirements and maintain a broad understanding of the various processes across Operations processing environment

* Strong ability to influence others

* Strong communication skills

* Working knowledge of investment products and financial services industry

* Demonstrated experience managing people

* Demonstrated project management experience

* Excellent interpersonal and communication skills, given interaction with a diverse group of internal and external contacts (various level of management/associates with business units, legal/audit professionals, and regulators)

* Strong analytical skills

* Strong organization skills

* Strong attention to detail

* Sound judgment

* Leadership ability

* Relationship Management ability

* Internal consultant mindset

Preferred

* Working knowledge of intermediary distribution practices and servicing requirements

* 2 years' experience in audit / compliance / risk assessment

* Understanding of Services & Technology business and processes

* FINRA Series 7 and 24 licenses

T. Rowe Price is an Equal Opportunity Employer