Job description




Business type




Types of Jobs - Operations




Job title




Transaction Banking Services - Cash Management Services - Associate




Contract type




Permanent 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 Office




Salary Range: $105k - $120k




#LI-DNI




Supplementary Information




Position location




Geographical area




America, United States Of America




City




Iselin, NJ - Metropark Office




Candidate criteria




Minimal education level




Bachelor Degree / BSc Degree or equivalent




Academic qualification / Speciality




Bachelors Degree required


(any discipline)




Level of minimal experience




3-5 years




Experience




Required

• 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

Languages




English