Job Information
T. Rowe Price Lead Manager, Middle Office Controls in Baltimore, Maryland
At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident.
We believe doing the right thing for our clients and our associates is good business . With a career at the firm, y ou can expect opportunities to create real impact at work and in your community. Y ou’ll enjoy resources to support your career path, a s well as compensation , benefits , and flexibility to enrich your life. Here, you’ll find a collaborative culture that respect s and valu e s differences and colleagues who share a spirit of generosity .
Join us for the opportunity to g row and make a difference in ways that matter to you .
About this Position
Within our Global Investment Operations business unit, the Global Middle Office teams, based in Baltimore, Colorado Springs, London, Hong Kong, and Singapore, manage investments through the trade lifecycle and oversee record keeping, working closely with our service providers. This role will be based in Baltimore, Maryland, at our new state-of-the-art facility in Harbor Point, working closely with the other Middle Office associates and managing a team of five associates. The team focuses on activities including the reconciliation for all products including equity, fixed income, derivatives, collateral, and owns the positions and cash that ultimately land in our Investment Book of Record (IBOR) for all T. Rowe products, funds, and client accounts.
Role Summary
Team manager for the administration, oversight, and processes surrounding T. Rowe Price's books and records for our investment book of records. Coordinates, checks, and validates transfers, settlements, redemptions, and reconciliations. Works independently with direct accountability for a set of complex accounts and/or a complex set of administrative processes. Works internally across Trading, Investments, Compliance, and additional operational stakeholders to drive control enhancement and process improvement and remediation efforts to support the growing business areas across the firm.
Responsibilities
Administers a broad range of portfolio transactions, leveraging specialized expertise to ensure proper controls and validations are in place and that activities are accurate and compliant. Identifies quality, accuracy, or compliance deficiencies and corrects; may serve as a final reviewer for complex reconciliations. Trains less experienced peers and support staff on preventing errors and interpreting process controls. Collaborates with leadership to develop, implement, or refine operating processes and controls.
Fosters the relationship between portfolio services associates and securities operations staff, relationship managers, portfolio managers, custodians, and clients to ensure the collection, analysis, and communication of information that impacts accounts. Fields and manages complex queries from internal or external clients and follows through to resolution.
Prepares highly complex documentation for settlements, reconciliations, transfers, etc. Instructs team members on adjustments needed to internal and external books and records and performs a final quality review, confirming resolution.
Following established controls, checks and validates third-party reconciliations; provides direct feedback to third-party providers on their performance and quality, collaborating with management to resolve. Works with clients and internal stakeholders to prepare account outsourcing plans; stewards account transition process to the end-state infrastructure of outsourced providers.
Reviews and presents periodic reports and dashboards outlining relevant operational metrics like error or recalculation rates, client satisfaction, responsiveness, time to resolution, etc. Provides analysis of metrics and develop recommendations to address deficiencies. Collaborates with management to prepare and implement solutions.
Qualifications
Required:
Bachelor's degree or the equivalent combination of education and relevant experience AND
8+ years of total relevant work experience
Preferred:
Investment Operations / Middle Office managerial experience
Accounting (i.e. Portfolio or Fund Accounting experience) / Reconciliation experience (i.e. Position and Cash reconciliation)
Cross-asset class knowledge in the Asset Management industry
5+ years of people management experience
FINRA Requirements:
FINRA licenses are not required and will not be supported for this role.
Work Flexibility:
This role is eligible for hybrid work, with up to two days per week from home.
Base Salary Ranges
Please review the job posting for the location of this specific opportunity.
$108,000.00 - $184,000.00 for the location of: Maryland, Colorado, Washington and remote workers
$119,000.00 - $203,000.00 for the location of: Washington, D.C.
$135,000.00 - $230,000.00 for the location of: New York, California
Placement within the range provided above is based on the individual’s relevant experience and skills for the role . Base salary is only one component of our total compensation package . Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.
Commitment to Diversity, Equity, and Inclusion
At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all.
Benefits
We value your goals and needs, at work and in life. As an associate, you’ll be supported with resources , benefits , and work-life balance so you can thrive in ways that matter to you .
Featured employee benefits to enrich your life:
Competitive compensation
Annual bonus eligibility
A generous retirement plan
Hybrid work schedule
Health and wellness benefits, including online therapy
Paid time off for vacation, illness, medical appointments, and volunteering days
Family care resources, including fertility and adoption benefits
Learn more about our benefits. (https://www.troweprice.com/corporate/us/en/careers/benefits.html)
T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.