Experience:
No experience
Employment Type:
Intern/Co-op
Posted:
1/24/2020
Job Category:
Business Development
2020 Summer Internship Development Program- Operations...
(This job is no longer available)
Raymond James | Saint Petersburg, FL
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Job Description

Description

Job Summary:

The Operations Intern Program uses knowledge and skills obtained through formal education and/or experience to work with Raymond James associates and leaders on special projects and functional activities within Operations. The interns will independently research and recommend solutions to complex problems. Interns will maintain consistent communication with supervisors and Operations Program managers. The Operations Summer Program is a partner program within our firm-wide Internship Development Program (IDP). This 10-week summer program allows a deeper dive into the different functionalities within our Operations department: ODET, Cost Basis, Mutual Fund Trading, Mutual Fund Account Services and Tax Reporting. While this is not rotational, the interns will have the opportunity to gain exposure to multiple Operations divisions.

Operations Documentation and Education Team (ODET)

The Operations Documentation and Education Team partners with clients to support Operations' documentation, training, communication and engagement efforts. We use Service 1st strategies and communicate clearly and openly with our business units to develop and deliver high-quality products that promote cross-site collaboration and foster associate development.

Cost Basis

Cost Basis Reporting System and other Raymond James approved systems provides clients and internal departments with cost basis, gain/loss and corporate action information. Delivers superior client service through accuracy, timeliness and consistency. Enters data, reviews daily reports and researches discrepancies relative to cost basis transactions such as versus purchase, date of death valuations/step ups, missing cost basis, etc. Position involves extensive interaction with fellow workers, other departments and branch associates.

Mutual Fund Trading

Mutual Fund Trading processes all types of Mutual Fund Trades including purchases, liquidations, as of trades, trade cancels, trade corrections, etc. Daily workload encompasses everything from taking and processing advisor trades and corrections as well as processing various trade related reports. Because this is a trading department there is both time sensitivity and risks within our daily processing. Beyond learning about Trading, our interns will assist with various Mutual Fund Trading process improvement projects. Their role will include gathering data and examples, research and review, communicating both with associates, leadership and our project team, creating procedures and other documentation, etc.

Mutual Fund Account Services

The Mutual Fund Account Services Department handles a number of responsibilities:

* Maintains accurate account and registration data on clients' networked mutual fund accounts


* Aids in transferring mutual fund positions between RJ accounts


* Adds new mutual fund accounts to Networking


* De-networks mutual fund accounts


* Processes mutual fund dividend changes, reversals and cross fund reinvestments


* Researches trails and commission issues on direct trades


* Changing and updating the Branch number and/or Financial Advisor on direct accounts


* Removes Raymond James as Broker Dealer on direct accounts



Furthermore, we are the first line of defense for Branch personnel who are unsure of where to go, who to ask for assistance, how to process forms, etc. Beyond learning about MF Account Services, our intern will assist with various MF Account Services process improvement projects. Their role will include gathering data and examples, research and review, communicating both with associates, leadership and our project team, creating procedures and other documentation, etc.

Tax Reporting

Tax Reporting's primary focus is to ensure that Raymond James is compliant with IRS regulations. This includes the certification of foreign accounts, b notice processing, federal backup withholding, NRA/FATCA withholding and ultimately accurate tax reporting for both US (Forms 1099) and foreign clients (Form 1042-S).

The main focus of the summer intern position is to:

* Evaluate our current b notice process as it pertains to systems, tracking, communication to the field, and overall effectiveness


* Propose changes to the b notice process by working closely with the manager, analysts, and consultant to execute a summer cleanup in preparation of the 2020 be notice process



This role will also expose the candidate to other various tax related tasks and departments across the firm as part of their daily tasks.

Essential Duties and Responsibilities:

* Assists in building project plans for assigned projects based on resource estimates, timelines, budget and other financial information.


* Analyzes and summarizes project data and disseminates outcomes to appropriate parties.
* Extracts and reviews information, and evaluates market data.
* Investigates operational issues and suggests resource allocation.
* Conducts limited industry and company research by collecting, organizing, and analyzing data.
* Maintains documentation and communications including status reports, project charters and quality assurance reviews.
* Assists and executes on day-to-day tasks to ensure a realistic job preview as directed by supervisors.
* Performs other duties and responsibilities as assigned.

Qualifications

Knowledge, Skills, and Abilities:

Knowledge of:

* Fundamental investment concepts, practices and procedures used in the securities industry.
* Financial markets and products.
* Basic level concepts, practices and procedures of project management.

Skill in:

* Project and time management.
* Creating and updating project schedules using automated project software.
* Exercising judgment and self-direction to independently complete projects.
* Operating standard office equipment and using required software applications, including Microsoft Office and established databases.
* Business and communication skills sufficient to work in an executive environment.

Ability to:

* Exercise initiative and problem solving skills to independently resolve issues.
* Learn and document new procedures accurately.
* Learn new software packages and systems thoroughly and efficiently.
* Partner with other functional areas to accomplish objectives.
* Attend to detail while maintaining a big picture orientation.
* Communicate effectively, both orally and in writing.
* Work independently as well as collaboratively within a team environment.

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)