Service Manager

JAMES CARRANO

*** ***** ****** *** ***** Grove, NJ 07756

Phone: 732-***-****

E-mail: *********@*****.***

Professional Work Experience

TD Wealth - Cherry Hill, NJ

**** - ****

VP, Manager of US Wealth Operations

. Manage the US Wealth Operations team in Cherry Hill, NJ.

. Responsible for managing all vendor charges for US Wealth and issuing

payment.

. Successfully consolidated US Wealth Operations from 3 locations into one

central location.

. Hired and trained roughly 40 individuals to assume the recently migrated

roles. Cost savings realized as a result of migration was in excess of

$1.5MM.

. Outsourced Retirement Trust Recordkeeping functions from in-house to Epic

Advisors saving the firm approximately $275,000 per year

. Led an initiative to change statement print vendors for a total saving of

over $200,000 per year

. Worked on leveraging TD's relationship with TD Ameritrade to utilize

their processing services for the Retirement Trust business. Partnering

with TD Ameritrade will save the firm approximately $500,000 per year

TD Bank (Consultant) - Cherry Hill, NJ

2008 - 2010

Head of U.S. Wealth Management Operations

. Oversaw entire US Wealth Operations including 3rd party vendor support.

. Developed and implemented a Migration Strategy; changed the existing

landscape through the migration of offices into a centralized location

using a phased approach in an effort to streamline and centralize

operational processing while reducing cost and risk; 25 FTE savings and

cost savings of over $1MM.

. Functioned as a member of the Operation Spirit core team with the

initiative to dismantle Broker Dealer; 25 FTE savings and a cost savings

of over $1MM.

. Managed a conversion of PrimeVest to National Financial Services (NFS).

. Created and managed Image Connect; a web interface that allow users to

capture, index and take action (approve/reject) on documents that were

formerly available only in hard-copy format.

. Created and managed a Client Support Group (CSG) to effectively handle

written and verbal complaints in a timely manner.

. Conducted several workflow analyses to improve both efficiency and client

service levels; this resulted in the introduction of automated systems,

bilingual services via Language Line Services among other efficiencies.

Merrill Lynch Advisory National Sales

2006 - 2008

Vice President, Hopewell, NJ

. Responsible for the approval of all International accounts.

. Migration of wire room reports / traffic to an online utility which

resulted in $1.2MM in savings from storage avoidance and printer removal,

as well as a reduction of FTE's and mitigating risk

. Reduce costs by consolidating Iron Mountain storage.

. Elimination of real-time quotes which resulted in a cost savings of

$1.5MM.

. Developed online surveys to ascertain SA, FSA, and Operations job

functions which enabled the re-write of job descriptions and creating

better career paths.

Merrill Lynch Metropolitan Region

2002 - 2006

Regional Service Manager, New York, NY

. Manage all aspects of daily operations for 16 Complexes / 44 Branch

Offices including 1,754 Financial Advisors and 711 Client Associates.

Total revenue for the Region - $1.4 billion.

. Track and supervise the EARS Online System process for the Metropolitan

Region including the Complex management and operations staff.

. Supported the Role Redefinition initiative by ensuring that all Service

Managers obtain their needed licenses in an effort to continue their

roles and responsibilities.

. Managed offices in the region that served as pilot offices for new

procedures and served as mentor offices throughout the country once the

initiatives were rolled out nationally.

. Leveraged existing Laser Check technology, implemented in Canada, for

deployment in over 700 U.S. Branch offices improving client service,

elimination of risk, and automating the cashiering function.

Merrill Lynch Canada Inc.

1999 - 2002

Director of National Services, Toronto, Canada

. Collaborated with OGC to roll out the Risk Control Self Assessment (RCS)

framework using the HORIZON web based application throughout Canada.

. Directed the service management of all National Branch Offices within all

of the sales districts in the Private Client Branch Office Network.

Managed a national branch force of 172 individuals.

. Directed and managed a National team of employees with an annual budget

of over $11 million Canadian.

. Developed and implemented the Branch Liaison Unit as a link between

Branch Office Operations and the Home Office to address all service and

operational issues.

. Created and established the Rapid Response Team to provide UHNW/HNW

clientele with unique and exceptional service and resolution of

operational and account issues.

. Collaborated with National Sales in developing, supporting and

implementing all Branch Office Service Strategies. Responsible for

managing, training and evaluating Complex Service Managers and their

respective Operations staff.

. Directed the Migration Initiative resulting in an increase in cost

efficiency and the centralization of functions within Complex Offices.

Since the project began in July 2000, 93 FTEs have been redeployed in

Branch Operations, which far exceeded the total projected reduction of 80

by 2001 year-end.

. Successfully launched the Laser Cheque Initiative which allowed Complex

Offices to manage, approve, and process all cheque requests for their

Associate Offices.

. Established and directed the Horizon Risk Management Initiative for

Canada which identifies key risk areas within the Branch Office system

and implemented controls needed to be strengthened.

. SACM: A key author in the composition of the Sales Assistant Council to

Management.

Merrill Lynch Domestic

1993 - 1999

Northern New Jersey District Service Manager, Morristown, NJ

. Supported the Northern New Jersey District comprised of 6 parent Branch

Offices / 11 associate Offices, 280 FAs / 120 CAs and 5 SMs / 35 sales

support personnel.

. Responsibilities included the evaluation of all Service Managers,

supervision of the District Operational Budget, administration of the

Employee Incentive Program, and resolution of elevated district issues

and concerns.

. Lloyds of London: Oversaw the Northern New Jersey District as the

operational and processing center for all 16M accounts. This includes

370+ accounts and 12 Branch offices firm-wide and required much

interfacing with IOD, London and Lloyds of London on an ongoing basis.

Merrill Lynch Domestic

1985-1989 and 1992-1993

Service Manager, Huntington, and Long Island Complex

. Instrumental in opening all Merrill Lynch Branch Offices east of

Huntington, Long Island including; Smithtown, Babylon, Riverhead, and

Southampton.

. Successfully managed the migration of customer accounting functions from

Long Island to the New York Service Center.

Merrill Lynch Domestic

1989 - 1992

Manager of Selection, Placement & Development of Branch Service Managers,

Somerset, NJ

. Revision of the NMDP Program formerly known as ROCOM: Instrumental in

the reorganization and redesign of the ROCOM Program, setting up

assessment panels and evaluation committees for the candidates. This

was a major undertaking at the time and the program continues to be a

valuable management developmental tool.

. Established a Disaster Recovery plan for the firm, incorporating the

needs of the Branch Office into the procedures. The plan has been

modified but is still in use today in Branch Offices.

. Creation of the District Service Manager Position: Upon implementation

of the "District Concept" by National Sales, helped adopt and modify

this concept.

. Organized and coordinated numerous Focus Group Discussions Analyzing the

Changing Branch Office Environment, along with the new and developing

responsibilities of its personnel as a result of the various Service

Breakthrough and System initiatives introduced over the past year.

Training Seminars/Certificates

. Graduate of the Operations Management Development Program (OMDP).

. Advanced Service Management Training.

. District Management Training.

. Various extensive Merrill Lynch development training courses.

Skills

Excellent leadership skills utilized to inspire and guide personnel towards

individual achievement and business goal accomplishments.

. Strong problem solving skills that identify/develop alternate courses of

action based on logical assumptions and factual information.

. Exceptional communication and administrative skills that allow for a

strong and concise presentation of ideas and information.

. Group coordination and project planning experience and the ability to

handle multiple assignments simultaneously.

. Superior negotiation skills.

. Vast knowledge of brokerage and banking industry that spans a career of

45 years.

. Outstanding in-depth knowledge of brokerage products, services, systems

and operations.

References are available upon request.

Contact this candidate