Cash Management Deposit Support Specialist

The Cash Management Deposit Operations Specialist is responsible for performing a variety of moderately complex tasks related to deposit accounts, transactions and business online banking products and services. The position specializes in business functions such as risk mitigation and control, cash management services, transaction processing and exceptions, internal and external customer support, legal documentation and education.  The Cash Management Deposit Operations Specialist uses their subject matter knowledge and problem-solving skills to provide guidance, service and support to the organization including BaaS for all aspects of the deposit operations and cash management operations areas of Choice Bank. The position is responsible for the timeliness of daily operating processes, check back controls, file maintenance, exception processing, business online banking enrollment, set up and maintenance, quality control, customer requests, account research, stop payments, ACH and wire handling including limit management and more. The role includes development and engagement of Choice Bank’s business online banking products and services, sales support, relationship management and technical support.  The Cash Management Deposit Operations Specialist troubleshoots and provides technical assistance in various areas and provides a #PeopleFirst customer service experience to all internal and external customers.  

Responsibilities   

Risk Mitigation and Control  

• Understand the Secondary Credit Exposure Manual content and be a resource to staff regarding the manual.  
• Review and approve ACH and Wire Transfer limits within Secondary Credit Manual Exposure guidelines.  
• Determine appropriate responses to client requests, the approval necessary and ongoing risk mitigation.  
• Monitor daily ACH, Wire and Remote Deposit transactions, investigating and documenting returns, duplicates, fraud activity, exceptions, etc.  
• Assist Cash Management roles in managing and evaluating the overall risk related to Cash Management products and services, providing appropriate recommendations.  
• Conduct or facilitate Cash Management reviews in a timely manner, bringing all concerns to the corresponding leader and making appropriate risk rating and limit change suggestions as necessary.  
• Understand and identify trends related to fraud in the current marketplace to mitigate potential loss for the organization.   
• Have a general understanding of compliance that governs the deposit operations and cash management space.  
• Work collaboratively with compliance experts across the organization to adhere to rules & regulations that govern deposit and business online banking products offered.  
• Act as the control by monitoring deposit account documentation and transaction/activities ensuring adherence to procedures and regulations. 
• Review all business online banking set up and file maintenance documentation along with new deposit account and file maintenance documentation ensuring appropriate documents are in place and indexed to the corresponding account/customer. 
•  Implement proactive measures to identify and mitigate risks to deposits and business online banking products and services.

Transaction Processing and Exceptions  

• Process daily, weekly and monthly checklists and check back controls in areas such as file maintenance, exception processing, quality control customer requests, account research, stop payments, ACH handling, and more.  
• Review internal daily, weekly, and monthly reports. 
• Troubleshoot and research various deposit related products offered, including but not limited to, checking, savings, CDs, IRAs, account analysis, safe deposit boxes, file maintenance requests, legal services, debit cards and business online banking.  
•  Review IRA contributions and distributions along with other year end documentation to ensure proper tax reporting. 

Cash Management Services 

• Collaborate with various teams to set up customers with a variety of business online banking products and services. 
• Combine business (marketing, sales, banking) skills with knowledge of business online banking, mobile devices and applications. 
• Maintain and develop business online banking product and service knowledge within Choice Bank and among our competitors and industry. 
• Analyze market and customer needs to recommend appropriate products.  
• Understand and utilize the CRM system to manage client relationships.  
•  Help onboard new and existing clients with business online banking product set up and file maintenance and provide escalated customer service to business online banking customers. 

Support and Customer Service  

• Research, advise and answer questions to internal customers.   
• Support customer facing staff and operational teams on deposit processes.  
• Research problems that arise by utilizing internal and external resources.  
• Advise customer facing staff on deposit operations/cash management processes and procedures to ensure they are prepared and skilled for their day-to-day roles.  
• Act as a trusted and reliable resource for internal customers.  
• Collaborate with other teams to identify customer prospects and develop them into customers using business online banking products and services – recommend products based on customer needs. 
•  Provide subject matter expertise on deposit procedures including new account documentation, file maintenance, IRAs, unclaimed property, safe deposit box processing and more.  

Legal Documentation 

• Responsible for processing all legal documents including levies, garnishments, subpoenas and search warrants. 
• Maintain knowledge of unclaimed property rules and regulations for all applicable states and process escheatment at the appropriate timelines. 
• Process account verifications and credit requests. 
• Responsible for accurate calculation and payment of backup withholding. 
• Maintain knowledge of IRS rules governing IRAs and ensure proper processing of contributions, distributions and other IRA related transactions. 
•  Maintain knowledge of IRS rules governing foreign customers and related documents such as the W8BEN and ensure system is coded accordingly. 

Education   

• Provide a full range of professional, technical and general support to internal and external customers. 
• Conduct informal education for bank locations and/or specific teams and bankers. 
• Collaborate with Marketing to create and deploy promotional, informational, and educational pieces relating to business online banking products and services. 
• Seek out financial technology education & events relating to business online banking products & services. 
•  Update internal resources and processes as needed and communicate to other departments as needed. 

Other Administrative Responsibilities   

• Perform a variety of routine daily tasks, review reports, prepare correspondence and participate in special department projects. 
• Have knowledge of financial products and services. 
• Maintain knowledge and comply with policies and procedures. 
• Identify and implement efficiency and automation opportunities as they arise. 
•  Perform duties outside normal scope as assigned. 

Cultural Alignment  

Choice is #PeopleFirst, banking second. 

People don’t need just another bank. People need to be supported by a team of trusted partners who will get to know them and their business, understand their challenges, discover their dreams, and recognize the success in bringing people and banking together in our communities. 

In contributing to our culture, Choice team members are guided by our core values. 

• Embrace change and encourage innovation.
• Know when to ask for help and know when to offer help.
• Better the places we live.
• Work hard. Do the right thing. Have a little fun.

Our vision of Diversity at Choice is supported by our #PeopleFirst mission and our core values. 

Being #PeopleFirst means that Choice is committed to focusing attention and resources towards creating an environment where everyone feels respected and valued and can do their best work. Doing the right thing means encouraging employees to share their experiences and ideas, and to bring their whole authentic selves to work. Together, we can build an inclusive culture that seeks out, supports, and celebrates diverse voices. We can use our diversity to fuel creativity and innovation and bring us closer to our customers and the communities we serve. Be welcome at Choice. We can see you here. 

The base salary for this role will begin at $45,390 and up to $78,821 annually. This pay range is posted to comply with wage transparency laws. The base salary may vary based on skill, ability, knowledge, experience and geographic location. Full time employees are also eligible for a competitive bonus and benefits package. Check out www.bankwithchoice.com/careers for an outline of current benefit offerings.

Salary : $78,821