Financial Institutions Services
Resume:
James J Cahill
Fountain Valley CA. 92704
ad5rx9@r.postjobfree.com
Experience: State Street Global Advisors – Boston MA
April 2022 – April 2023
Transfer Agency Officer – Global Funds Management
Support Financial Institutions who promote and sell SSGA funds. Financial Institutions include broker/dealers, financial advisors, banks, insurance companies and other financial institutions who have selling agreements with SSGA.
Lead contact for trailer commissions paid by SSGA to Financial Institutions who promote and sell SSGA funds. Such payments include the following:
o12b-1 Fees
oShareholder Servicing Fees
oSUBTA Fees
oRevenue Sharing
Manage all aspects of the monthly and quarterly trailer commission payment process.
Generate reports in Access Data application with payment details for applicable payment cycle.
Authorize fed wire transfers to Financial Institutions for trailer commission payments.
Prepare quarterly board reports for Senior Management.
Review sales agreements between SSGA and Financial Institutions.
Update basis points in Access Data application for fees from sales agreements.
Collaborate with team members and Financial Institutions during Shareholder Servicing calls. This is to ensure appropriate services detailed in the sales agreement are being provided.
Mitigate risk by reviewing Standard Operation Control documents (SOC1 & SOC2) provided by external auditors. Ensure SSGA is satisfied with the auditor's findings and recommend process improvements.
Lead Subject Matter Expert for the implementation of the Delta Data Fee Manager application. Implement rules and selection criteria into the new application.
Collaborate with Financial Institutions to research any inquiries regarding their trailer commission payments and other issues.
Expert user of various applications such as Access Data, Fee Manager, DST Vision, DST TA2000, AWD, and Appian. Position also requires extensive use of Microsoft Office.
Fidelity Investments – Merrimack NH & Boston MA,
Fidelity Fund & Investment Operations (FFIO)
February 1997 – May 2021
Transfer Agent Operations Analyst – iTAAC Development and Testing
Successfully implemented the iTAAC application used by the Transfer Agent Accounting and Control (TAAC) organization.
Lead Subject Matter Expert for various functions within the iTAAC application. Represented business end users from the initial implementation through multiple releases after the application went into production.
Defined business requirements for System Requirement Analysis and System Design Specification documentation. Requirements included the following:
oProcess Flow Diagrams & Business Rules
oUI Specifications & Wireframes
oManagement/Ad hoc Reports
Led meetings with business resources to obtain process improvements.
Reviewed the Technical System Design documentation with development team.
Executed test cases during System Integration Testing and User Acceptance Testing phases using HP Quality Center application.
Resolved defects when executing test cases using HP Quality Center and JIRA applications.
Led project team for various functions during Production Parallel phase keeping new iTAAC application in sync with original ATAAC application prior to go-live.
Defined scope for additional installs after initial go-live release. These included high profile projects within Fidelity including Project Gemini, Money Market Reform and the conversion of Livelink to Centralized Report Warehouse.
Collaborated with project team members during scrum sessions using Agile methodology.
Led presentations to project team members and business users.
Created the iTAAC User Guide, several Policies & Procedures and other training materials for iTAAC’s User Procedure Documentation.
Expert regarding both Waterfall and Agile Project Life Cycle methodologies.
Provided business assistance as needed for heavy volumes or production related issues.
Extensive use of Microsoft Office and expert user of multiple Fidelity internal applications.
Operations Analyst – TAAC Fund Operations
Supported Fund Operations team within the Transfer Agent Accounting and Control (TAAC) organization.
Ensured receipt and processing of Transfer Agent and Same Day shareholder activity.
Released Cash and Share and Cash Projection activity to Fund Accounting, Custody, and other internal and external business partners.
Escalated issues regarding the receipt and release of files to the appropriate management and system contacts for research.
Resolved several production issues and have written multiple incident reports.
Processed and QC’d manual adjustments required to manually report activity on ATAAC/iTAAC applications.
Reconciled exceptions with internal and external business partners.
Researched gain/loss associated with backdated trades processed by Fidelity’s transfer agents. Communicated with transfer agents gain/loss that exceeded thresholds and required reimbursement.
Reconciled dividend/capital gain payouts.
Created Policies & Procedures for various processes within TAAC Fund Operations.
Led presentations for training sessions and process overviews to team members and business partners.
Collaborated with various Fidelity business partners such as FFAS, Brokerage, Retail, Financial Operations, Fund Accounting, Custody and GEODE.
Expert user for multiple Fidelity platforms such as iTAAC/ATAAC, DART, FTPS, FPRS, XTRAC and View Direct.
Position required extensive use of Microsoft Office.
Education: University of Massachusetts, Amherst MA
BA, Economics/Political Science. Graduated 1992
Coordinated conversions of retirement plans onto the Fidelity Participant Recordkeeping System (FPRS) for Personal and Workplace Investing (PWI). Various projects included full plan implementations, ESOP conversions, division acquisitions, full and partial deconversions, plan mergers, fund reallocations, and tender offers.
Coordinated the transfer of assets from prior trustee to Fidelity. This includes facilitating fed wire transfers, in-kind mutual fund transfers, DTC stock transfers, and re-registering Guaranteed Interest Contracts (GIC pools).
Provided estimates of projected assets to be transferred to Cash Management Oversight so fund’s traders would be aware of large conversion activity.
Conducted meetings with prior trustees and prior record keepers to discuss the asset transfer process and to review conversion data specifications.
Audited reports provided by prior recordkeeper for accuracy.
Reconciled assets received from prior trustee to the balances received from prior recordkeeper.
Collaborated with prior recordkeeper and prior trustee to resolve trust variances.
Reconciled plan contributions and loan repayments sent through client payroll feeds.
Conducted training sessions for new department employees, and documented several policies and procedures.
Position required use of Fidelity Participant Recordkeeping System (FPRS) platform, FPRS Workstation, View Direct and Plan Sponsored Webstation (PSW)..
Problem resolution group for Fidelity Investments Institutional Services (FIIS).
Primary contact for broker/dealers regarding issues that need immediate resolution. Determined the nature of the problem and then took necessary steps needed to resolve the issue. Updated the client on the status of the issue throughout the process.
Processed adjustments regarding trades which have been processed in error. Billed clients for any gain/loss to the fund caused by backdated trades or corrections.
Researched issues regarding brokers weekly and 12b-1 trailer commission payments.
Researched issues regarding incoming and outgoing FED wires. -Pulled microfiche to research issues regarding client’s accounts or commission payments.
Worked on the FIIS NSCC Y2K testing project. Monitored trading activity on a test region to determine potential impact to the system regarding the Y2K issue.
Position required extensive client interaction with the broker dealer community.
Position required use of Fidelity's DART. XTRAC and FTPS systems.
Reviewed purchases, redemptions, and exchanges that rejected through the
NSCC/ Fundserve system. Determined the reason for the reject and informed the broker/dealer back office of the steps needed to correct the trades.
Responsible for estimating these rejected trades to avoid potential gain/loss to the fund.
Reviewed non-financial NSCC activity (B50, B51, & B52 transmissions) such as
new accounts, transfers and maintenances that were placed through the NSCC
networking system.
Submitted adjustments to the client resolution unit for trades that were processed in error. Updated the client on the status of the adjustment.
Primary contact for gain/loss billing. Billed broker/dealer back offices for backdated trades and corrections that resulted in significant gain/loss to the fund. Ensured funding was received and was forwarded to the appropriate fund for reimbursement.
Position required extensive interaction with broker dealer back offices.
Position required use of Fidelity’s DART, TOPS, XTRAC, and FTPS systems.
Reviewed purchases, redemptions, and exchanges that had rejected through the NSCC/Fundserve system. Determined reason for the reject and informed the broker/dealer backoffice of the steps needed to correct the trades.
Responsible for estimating these rejected trades to avoid potential gain/loss to the fund.
Placed and settled manual wire order trades for Non-NSCC broker/dealers.
Reviewed delinquent trade reports regarding confirmed purchases that were either awaiting payment or registration. Collaborated with broker/dealer back offices to resolve these delinquent trades.
Position required use of the DST mainframe system.
Reviewed purchases, redemptions, and exchanges that had rejected through
the NSCC/Fundserve system. Determined reason for the reject and informed
the broker/dealer backoffice of the steps needed to correct the trades.
Submitted fund estimates to the control department to prevent gain/loss to the fund on these rejected trades.
Submitted corrections to the adjustment department for trades that were placed in error.
Reviewed non-financial NSCC activity (B50, B51, & B52 transmissions) such as new accounts,
transfers and maintenances that were placed through the NSCC networking system.
Coordinated the conversion of the Lehman Brothers offshore funds to Legg Mason. Made sure all NSCC related issues for the conversion were addressed. Worked with SIAC to establish fund CUSIP profiles for the Legg Mason funds so they were ready for fundserve trading. Monitored the data conversion extensively to verify all appropriate data converted correctly.
Main contact regarding NSCC transmissions for broker/dealer trailer commissions.
Worked with systems to ensure any NSCC related issues were being addressed and resolved in a timely manner.
Contact this candidate