What are the responsibilities and job description for the VP Treasury Operations Manager position at Esquire Bank?
The Company
Esquire Financial Holdings, Inc. is a financial holding company headquartered in Jericho, New York.
It has one branch office in Jericho, New York and an administrative office in Boca Raton, Florida.
Its wholly-owned subsidiary, Esquire Bank, National Association, is a full-service commercial bank dedicated to serving the financial needs of the litigation industry and small businesses nationally, as well as commercial and retail clients in the New York metropolitan area.
The Bank offers tailored financial and payment processing solutions to the litigation community and their clients as well as dynamic and flexible payment processing solutions to small business owners.
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Despite challenges in the financial services industry, Esquire's focus on long-term stakeholder value has made it one of the top performing financial institutions in the country over the past several years.
We believe that a strong balance sheet anchored by outstanding client relationships will consistently generate long term growth, industry leading performance metrics, and continued success into the future.
About our Payments Business
We provide payment processing as an acquiring bank primarily through the third-party or ISO business model.
This model is designed to mitigate the risks associated with merchant losses resulting from chargebacks, fraud, non-compliance issues or even ISO or merchant insolvency.
We entered into the payment processing business as an acquiring bank in 2012 to increase noninterest income revenue and provide cross selling opportunities for other business banking products and services.
Key Responsibilities
- Key Independent Sales Organization (ISO) client treasury management contact who is also a key interface with processors & card brands
- Review proposed contracts, participate in sales negotiations, and assist in the onboarding of new relationships
- Lead and/or participate in projects including automation of existing processes as well as implementation of new products / businesses
- Manage the continued development of functional policies, procedures, operational controls, data management and information technology initiative
- Liaise with internal departments within the firm (e.g. Bank Operations, Compliance, Corporate Accounting, Merchant Sales and Underwriting, Merchant Risk, Retail Branch)
- Interact with internal and external auditors and assist in the coordination audits and reviews
- Manage an operations and settlement team of 5-7 that is responsible for:
- Daily clearance and settlement reconciliation and balancing processes including:
- DDA account reconciliations,
- Reconciling processor data vs cash movements,
- Clearance of reconciling items including chargebacks, ACH returns, and fees; and
- Posting of accounting entries
- Allocation of pass-through expenses to ISOs and quarterly card brand reporting
- Reconciliation and management of ISO and Merchant Reserves
- Monthly Internal Reporting – Statistical data / reserve analysis / Budget to Actual Performance
- Revenue recognition and preparation of monthly ISO residual invoicing
- Prepare and record monthly general ledger entries including, but not limited to, revenue recognition and related balance sheet movements for the business
- Reconcile, review and analyze balance sheet and income statement accounts on a monthly and quarterly basis as well as present the results to senior management
- Assist in the preparation of internal, external financial (SEC) and regulatory reporting
The Candidate
Experience and Professional Qualifications
- Bachelor's degree in finance or Accounting preferred
- Minimum 10 years' combined experience in financial services or public accounting
- Payments industry treasury experience (ISOs / Processors / Card brands) highly preferred
- Strong Management Ability including, but not limited to:
- Strong interpersonal and team-building skills required
- Articulate with excellent verbal and written communication skills
- Attention to detail and time management are essential skills for this role
- Ability to multi-task, prioritize and work in a fast-paced environment
Compensation: $150K - $180K plus bonus
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