Manager Accounting
Resume:
Timothy D. Markell
Havertown, PA 19083
ac8nij@r.postjobfree.com
Proven leader with over 20 years of financial experience in accounting operations and investment services. In depth knowledge of fund accounting discipline as well as financial services industry. Results oriented professional with diverse set of financial and managerial skills which derive process and client service level improvements. Exceptional people manager with motivation to attract and develop staff while increasing overall efficiencies and performance of the group.
EXPERIENCE
BLACKROCK, Wilmington, DE
World’s largest asset manager with $6.4 trillion in AUM serving a broad base of clients with risk management, strategic advisory and enterprise investment system services.
IAG Cash Operations, VP 2018 – 2019
Investment Accounting team manager providing oversight of daily operations and controls. Accountable for cash and position reconciliations for investment accounting clients, delivering superior client service, risk mitigation, exception management and proving support to internal stakeholders within the Investment Accounting business.
Managed daily deliverables for team to ensure operational deadlines were met and controls followed.
Responsible for all aspects of the reconciliation process including daily controls, managing exceptions, liaising with external accounting and custodian agents, and closing the books on a monthly basis.
Work closely with the Investment Accounting managers and clients to resolve all balance and position differences prior to month end close.
Review and analyze data to assist IAG with informed decisions on asset positions and prices
Create and provide customized client reporting to highlight performance and outstanding issues
Asset Servicing, VP 2011 – 2018
Manager on the Cash Services team providing cash management support to both internal and external clients. Provide superior client service, training and creative thinking, innovation, expert advice and quality solutions on all cash management and service related issues. Help deliver robotic process automation (RPA), resulting in risk mitigation and reduced financial exposure to firm. Support through in-depth data analysis to drive change in process and controls where needed.
Responsible for relationship management with our external service provides, including custodian banks, prime brokers and accounting agents. Serve as central point of contact to improve communication and work flow to further enhance the quality and timing of core deliverables that affect our business. Manage service expectations and improve efficiency of the overall agreed upon procedures. Lead monthly calls and schedule face to face meetings with our top providers.
Partnered with internal teams to identify areas of risk and implement strategic solutions to minimize financial exposure. Work closely with operations, client service and portfolio management teams to resolve escalation issues and provide transparency to upper management. Provide cash support for portfolio manager inquiries through in depth understanding of the investment process and building out a best in class global model.
Accountable for regulatory reporting impact and changes, audit and integration projects in support of the Portfolio Services teams. Complete various requirements including MBS holdings verifications, Dodd Frank, Service Organization Reporting (SAS70), and BGI account integrations. Partner with internal audit as well as representatives from Deloitte to review processes, test materials and provide proof of controls.
Responsible for strategic execution of Lehman bankruptcy initiatives for Portfolio Services team. Participate in project team to identify and calculate clawback payments due to the Lehman Trustee related to TBA trades. Work closely with our client service teams and numerous custodians to ensure 100% of payments were made timely.
Custody Operations Team Leader, VP 2006 – 2011
Managed a team of eight professionals within the Aladdin Portfolio Services group covering some of our largest bank relationships and more complex accounts. Developed high performing individuals with skills to take on future management roles. Participated in strategy to transition daily work flow to low cost locations.
Responsible for managing and supporting the performance of the BNYMellon team’s daily cash and reconciliation responsibilities. This included timely and accurate completion of account reconciliations, accountability for resolution of open items and communication of ideas across the team.
Developed team members skills and created opportunity for advancement. Held regular team meetings and individual reviews, drove a high performance culture and provided challenges for growth.
Identified process gaps and made necessary improvements. Successfully combined two bank teams (BONY and Mellon) into one which allowed more efficient controls, cross training on accounts and enhanced service levels.
Key driver for implementing our Follow the Sun initiative, utilized the OFS team (Mumbai) in the reconciliation process to maximize our capacity. Provided oversight and training to team members, while building strong working relationships. Reviewed the APAC book of business to create capacity in low cost locations and standardize our business model globally.
Actively participated in the design and implementation of our Green Package Exception Monitor (GPEM). This allowed us to effectively track all open items across the bank teams and more efficiently code and resolve these items.
Custody Operations Associate 2005 – 2006
Responsible for timely completion of cash reconciliations and publishing balances for institutional and retail accounts, including fixed income, mutual funds, alternatives and derivative investments.
Identified, researched and resolved all open items within assigned accounts. Required daily review of the reconciliation performed by our overseas counterparts for accuracy.
Responsible for entry and resolution of all fails and overdrafts. Actively followed up on all claimable events to make accounts whole.
Engaged with client service group to monitor and post all new cash payments to client accounts.
Worked closely with team members to meet deadlines and improve efficiency of daily tasks. Maintained controls in accordance with defined procedures.
Built professional relationships both internally with other operational departments and externally with our custodian / broker contacts.
Actively participated in projects and working groups outside of daily responsibilities. Volunteered for P&I cleanup project, custody operations efficiency assessment and client service interaction group.
JPMORGAN CHASE, Newark, DE
$2.6 trillion asset manager and leading global financial services firm operating in more than 100 markets.
ADR Accounting Manager 2001 – 2005
Managed a team of five accountants to ensure accuracy and integrity of our cash and holdings across all ADR accounts. Completed monthly closing of the books and financial reporting to management. Worked with internal groups across multiple locations to improve the billing process and reduce expense.
Actively managed the ADR Operations Accounting Unit. This included directing and effectively coordinating the daily activities and work of team members for all cash and position reconciliation of US dollar and foreign currency balances, in an extremely time sensitive environment. Consistently achieved above satisfactory ratings for performance which are measured against key indicators set by the quality control unit.
Responsible for managing and controlling risk within the ADR unit. Point of contact for all accounting related compliance issues, which included creating and maintaining internal controls for the ADR unit. As the point of contact, I met with state regulators and worked closely with the internal audit department. Responsible for self assessments and making recommendations to improve controls within the ADR unit. Prepared all accounting data requested to perform the audit.
Responsible for the management and career development of my direct reports. Continuously worked to add value and increase the efficiency of my direct reports through measurable results. This required monthly reviews, as needed, as well as quarterly evaluations/performance appraisals to provide the employee with substantial feedback and up to date attainable goals.
Recognized for completely transitioning the entire client billing process from NY to DE. This resulted in substantial savings for the firm.
Equity Accountant 1999 – 2001
Primarily responsible for the equity reconciliations for the General Ledger, DDA, Suspense, BONY accounts and the Corporate and Equity subledger.
Accountable for the Margin Position reconciliation. Required to thoroughly analyze the cause for breaks utilizing several systems, then clearly communicate the problems to the appropriate departments. (ie. the EDG in New York and London, internal settlement dept.’s)
Quickly identified and resolved suspense items, while identifying procedural deficiencies. Clearly communicated solutions to the appropriate departments and continuously made recommendations to streamline the process to improve the turnaround time.
Completed all profit and loss reporting to executive management.
Responsible for verifying and substantiating general ledger balances on a monthly basis.
Worked closely with the CFO to complete monthly planning, forecasting and final closing of the books.
MERRILL LYNCH & COMPANY, Ft. Washington, PA
Trust Accountant 1997 – 1999
Completed accurate and timely trust reconciliations for client benefit accounts, including 401k, profit sharing and company stock accounts. Trained and supervised new employees. Implemented new CMA Reconciliation system and issued 5500 tax forms. Resolved breaks for benefits, payrolls and fund accounting. Ensured compliance with ERISA, SEC regulations and company standards.
BISYS PLAN SERVICES, Ambler, PA
Investment Associate 1995 – 1997
Invested monthly contributions and rollovers for 650 401(k) accounts. Reconciled and balanced client trust and mutual fund accounts. Built relationships with plan administrators, banks and trustees as well as internal departments, i.e., Distributions, Reconciliations and Client Services. Trained new hires.
U.S. HEALTHCARE, Blue Bell, PA
Account Administrator 1994 – 1995
Managed 250 customer accounts and the collected over $2 million in monthly premiums. Researched problems regarding billing, interacted with Sales Support Representatives, employer groups and subscribers. Posted all cash monies to customer accounts and maintained 100% quality in account management and membership processing.
EDUCATION
BLOOMSBURG UNIVERSITY, Bloomsburg, PA
Bachelor of Science in Business Administration, December 1993
Major: Accounting
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