Job descriptionBusiness typeTypes of Jobs - Operations
Job titleTransaction Banking Services - Cash Management Services - Associate
Contract typePermanent Contract
Job summary** Note - Individual will need to work 4 to 5 days per week 10:30am to 7:30pm or Federal Reserve Bank Closing **Summary
Cash Management Services is responsible for processing the following types of transactions:
- US Dollar Payments and Receipts through FED or CHIPS
- USD and Foreign currency SWIFT payments
- Check payments
- Book transfers
** Note: Must be available to work an 8 hour period during the normal payments business day - FED window is 7am to 7pm **Transactions are processed through the Montran GPS application. Fedline Advantage is maintained as a back-up in case GPS is not operational.
Key Responsibilities
- Monitor Intra-Day Liquidity - FED available cash position throughout the business day
- Ensure FED balance does not exceed the Intra-Day Cap
- Timely communication and escalation to Sr.
- Management/Treasury for Intra-day issues
- Monitor FED/CHIPS SOD/EOD balances for interruptions and/or exceptions
- Approve and release payments in GPS and SWIFT
- Process Fed Service messages
- Review all possible violations in OFAC using Fircosoft system.
- Verify all daily reconciliations performed correctly.
- Confirm third party transfers in accordance with the client's security agreement
- Manage the end of CHIPS funding and process related accounting entries.
- Assist with the aircraft closing processing in NY
- Manage end of day Fed Wire closing.
- Communicate the USD position to the Dollar Funding Desk, maximizing accuracy and minimizing Overdrafts.
- Verify and release tax payments through BNY Mellon Treasury Edge system
- Process check deposits using BNY Mellon Treasury Edge system.
- Manage the branch's nostro cash position at Bank of New York Mellon
- Review all incoming SWIFT messages and distribute to the areas concerned
- Process all monthly billing presented by BONY, Clearing House, Swift, and Fed.
- Handle all investigations concerning clients, nostro accounts and compensation claims.
- BCP Testing does multiple times a year for CHIPS and FED (will require weekend support)
Management and Reporting
- Reports to the Head of TBO/CAO
Key Internal contacts
- Treasury desk
- Corporate Banking Front Office teams, including ITB Middle Office
- Finance and Accounting
- Various internal operations related units
Key External contacts
- Federal Reserve Bank
- New York Clearing House (CHIPS)
- BNY Mellon
Role is in the Iselin, Metropark NJ OfficeSalary Range: $105k - $120k
#LI-DNI
Supplementary InformationPosition locationGeographical areaAmerica, United States Of America
CityIselin, NJ - Metropark Office
Candidate criteriaMinimal education levelBachelor Degree / BSc Degree or equivalent
Academic qualification / SpecialityBachelors Degree required
(any discipline)
Level of minimal experience3-5 years
ExperienceRequired
- FEDWIRE and CHIP's usage
- SWIFT
Desired
- Montran JGPS usage
- Fircosoft
- Experience with BCP Testing
Required skills- Communication skills
- Ability to work in a small team
Technical skills required- Payment systems
- Microsoft Office products
LanguagesEnglish
