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Employment Type:
Job Category:
Business Development
2020 Summer Internship Development Program- Operations...
(This job is no longer available)
Raymond James | Southfield, MI
Grad Date

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Job Description


Job Summary:

Under general supervision, uses skills gained through academic coursework to assist our Financial Operations team. The intern will gain exposure to multiple Financial Operations departments over the course of the summer with specific projects and opportunities in Corporate Actions, Cost-basis, Retirement Plan Services, Cash Control/ACH and Customer Accounts. The ideal candidate will possess a strong academic record and demonstrated interest in Financial Services through prior internships, student organizations and clubs.

The Voluntary Corporate Actions department is responsible for ensuring that all voluntary offers (tenders, rights, voluntary exchanges, puts, conversions, optional dividends, etc.) are processed in a timely manner. The Mandatory Corporate Actions department is responsible for ensuring that all mandatory reorganizations (mergers, name changes, reverse splits, etc.) as well as all income processing (dividends and interest) are processed in a timely manner.

The Cost Basis department provides cost basis reporting and quarterly realized gains/losses for all brokerage accounts. Cost Basis Reporting is responsible for inputting and processing all updates, changes, and adjustments to cost basis.

The Retirement Plan Services (RPS) department services all custodial Raymond James accounts including Traditional, Roth, SEP and SIMPLE IRAs, RJ prototype qualified plan accounts including Profit Sharing, Money Purchase and 401(k) accounts.

The Cash Control department processes branch and in-house deposits as well as posting checks and wire activity into accounts. The department is responsible for monitoring and maintaining bank balances for all branch depository accounts. The ACH department establishes/edits ACH Profiles and Periodic Payment/Drafts for both retail and IRA accounts.

The Customer Accounts department reviews, updates, maintains and services client accounts. The department protects advisors, clients and the firm by ensuring account activity adheres to pertinent regulations. The department is responsible for collecting on most account debits as well as the review of margin calls.


Knowledge, Skills, and Abilities:

Knowledge of:

* Fundamental concepts, practices and procedures of a professional office environment.
* Basic concepts, principles and practices of an assigned business unit.

Skill in:

* Operating standard office equipment and using, or have the ability to learn, required software applications.

Ability to:

* Organize and prioritize multiple tasks and meet deadlines.
* Communicate effectively, both orally and in writing.
* Work independently as well as collaboratively within a team environment.
* Provide a high level of customer service.
* Establish and maintain effective working relationships

Educational/Previous Experience Requirements: Current sophomore or junior student pursuing Bachelor's or Master's degree from accredited university in business related field.


None Required.

Raymond James Guiding Behaviors

At Raymond James our associates use five guiding behaviors (Develop, Collaborate, Decide, Deliver, Improve) to deliver on the firm's core values of client-first, integrity, independence and a conservative, long-term view.

We expect our associates at all levels to:
* - Grow professionally and inspire others to do the same
* - Work with and through others to achieve desired outcomes
* - Make prompt, pragmatic choices and act with the client in mind
* - Take ownership and hold themselves and others accountable for delivering results that matter
* - Contribute to the continuous evolution of the firm

About Raymond James

Raymond James Financial, Inc. (RJF) is a holding company whose subsidiaries are engaged in various financial services businesses predominantly in the United States of America and Canada. Its principal subsidiaries include Raymond James & Associates, Inc. (RJA), Raymond James Financial Services, Inc. (RJFS), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc. (Eagle), Heritage Asset Management, Inc. (Heritage) and Raymond James Bank, FSB (RJBank). All of these subsidiaries are wholly owned by RJF. The Company has eight business segments: Private Client Group, Capital Markets, Asset Management, RJBank, Emerging Markets, Stock Loan/Borrow, Proprietary Capital and certain corporate activities combined in the Other segment. (Source: 10-K)