Operations Development Program
Your professional journey starts here
Prospective operations professionals have a chance to develop their skills and make a difference as part of the Raymond James Operations Development Program (ODP) available at our Home Office/St. Petersburg, Memphis and Detroit locations.
Raymond James Operations serves our advisors, branches and other areas of the firm by maintaining client accounts and performing back office support functions, mitigating risk for our clients and supporting the firm’s client-first culture. Operations departments support all client transactions and processing, from account opening to trade processing, tax reporting and more.
ODP analysts will receive one month of training (including one week at a branch) before rotating through three different areas of the operations department for six months each. Get to know the operations department by exploring the functions listed below and apply today to take the next step toward building your career with Raymond James.
This department provides clients and internal departments with cost basis, gain/loss and corporate action information using the Cost Basis Reporting System and other Raymond James approved systems. Professionals deliver superior client service through accuracy, timeliness and consistency. Analysts will enter data, review daily reports and research discrepancies relative to cost basis transactions such as versus purchase, date of death valuations/step-ups or missing cost basis, to name a few. The position involves extensive interaction with fellow workers, other departments and branch associates.
Mutual Fund Trading processes all types of mutual fund trades including purchases, liquidations, as of trades, trade cancels, trade corrections and more. Daily workload encompasses everything from taking and processing advisor trades and corrections to processing various trade-related reports. Because this is a trading department, analysts will find both time sensitivity and risks within our daily processing. Beyond learning about trading, they 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; and creating procedures and other documentation.
The Customer Accounts department protects advisors, clients and the firm by ensuring account activity adheres to pertinent regulations. The department is responsible for collecting on most account debits, as well as the review of margin call, and securities are monitored for marginability and concentration to minimize risk to clients, advisors and the firm. This department provides many facets of service, including but not limited to assistance with all monetary transactions within the money movement platform as well as margin and Regulation T oversight.
The service delivery team assists with long-term forecasting of operations workloads. This team specializes in utilizing advanced mathematical skills, such as calculus and statistics, to help solve internal problems using data. ODP analysts will learn the function of ad hoc manual reporting and how to apply that data to find solutions.
The Custody department is responsible for receiving, researching and depositing all physical certificates received in the home office. The group is also responsible for processing all incoming and outgoing electronic transfers between the transfer agent and Raymond James, as well as transfers of shares from electronic book entry into physical certificate form. Sales are monitored for timely and appropriate settlement while abiding by various regulatory rules, and due diligence is performed around all high risk securities relating to anti-money laundering rules. The team works closely with Alternative Investments, Custody and Clearing, Account Transfers, Corporate Actions, AMS, AML and various other operational departments.
This division processes any kind of material change to clients’ access. Work encompasses everything from dividend to interest payments, redemptions of assets, merger intake and other client account holdings changes. ODP analysts will communicate often with multi-state locations and branch offices.
The Retirement Plan Services (RPS) department services all custodial Raymond James accounts including Traditional, Roth, SEP and SIMPLE IRAs. RPS supports contributions, distributions and tax reporting activity; deposit and tax corrections; and technical assistance with escalated issues.
The New Accounts department supports the opening and updating of new accounts. The department processes new account forms and documentation supporting the registration of new accounts.
The Service Delivery organization supports all operational departments in developing and delivering a consistent customer service strategy, using a centralized approach to data collection, analysis and reporting, business process optimization and integration. The primary focus is to increase the quality and efficiency of our processes and service delivery in order to provide consistently high client and advisor satisfaction.
ODET supports the training and documentation needs of operations departments in a coordinated and consistent manner across all three sites. Its primary focus is partnering with Operations departments to evaluate training, documentation, communication and customer service needs, while supporting their communication and Service 1st initiatives.
ORM partners with Operations management to identify, assess, manage, monitor and report the level of operational risk in the organization, while meeting regulatory expectations.
When advisors are ready to move their businesses to a new level, the Transitions Management team is here to make the transition seamless. We educate new branches about the operations and technology involved in processing business through Raymond James and act as a liaison with the home office to help research and resolve transactional issues.
“The culture of Raymond James is something that is not easily described but very quickly understood when you become a part of it. ODP has already provided me with incredible opportunities and allowed me to meet a multitude of remarkable people throughout the firm who have quickly become both friends and mentors.”
“We ODP analysts have had a great deal of exposure to upper management and personnel in leadership roles, which is playing a vital part in our professional development. We’ve sat in on upper level meetings, had one-on-ones with leaders, and received top quality training from seasoned associates.”
The 2018 BISA diversity award
Raymond James received the 2018 BISA (Bank Insurance & Securities Association) Diversity Award, which annually recognizes successful diversity efforts of organizations from the financial industry.Continue Reading about The 2018 BISA diversity award
How to prep for fall recruitment
Fall recruitment is the best time to start looking for summer internships and full-time job opportunities. Here’s an easy guide on how to prepare.Continue Reading about How to prep for fall recruitment
Company culture is key to our success
Speaking with Fortune, Chairman and CEO Paul Reilly says, “I tell people our results are because of the culture.” Watch the video to hear more.Continue Reading about Company culture is key to our success