Operations Analyst
October 3rd, 2024
Role description
This role is responsible for executing a range of banking operational tasks, including processing manual wire and ACH transfers, creating and managing platform users in cash management systems, validating corporate documentation, and ensuring compliance with internal and regulatory requirements. The role requires strong attention to detail, effective communication skills, and a proactive approach to resolving operational issues. This role acts as a liaison between the bank and its corporate and commercial clients, ensuring a high standard of service delivery.
Manual Wire and ACH Processing
- Execute Manual Transfers: Accurately process outgoing and incoming wire transfers and ACH transactions manually through the core banking system, ensuring all necessary approvals are obtained and compliance checks are completed.
- Error Resolution: Investigate and resolve discrepancies in wire or ACH transactions, coordinating with internal teams and clients as needed.
- Documentation: Maintain comprehensive records of each transaction, noting any issues, resolutions, and adjustments.
Platform User Management
- User Creation: Create, modify, and delete user profiles in cash management platforms and Core Systems, ensuring appropriate access levels and permissions.
- Access Control: User access, ensure compliance with bank policies and regulatory standards.
- Support: Assist internal and external users with platform-related inquiries, troubleshooting access issues, and providing training on system usage as necessary.
Corporate and Commercial Documentation Validation
- Document Review: Review and validate corporate and commercial documentation, such as corporate resolutions, beneficial ownership information, and business formation documents.
- Compliance Verification: Ensure all documents are in compliance with regulatory requirements, including Know Your Customer (KYC) and Customer Due Diligence (CDD).
- Record Maintenance: Maintain organized digital records of validated documentation, ensuring accuracy and accessibility for audits.
End-of-Day Validations and Adjustments
- Daily Reconciliation: Perform end-of-day validation of key financial data, including wire transfers, ACH transactions, line of credit entries, and GL postings.
- Adjustments: Execute necessary adjustments in the core system to rectify errors identified during daily reconciliation.
- Reporting: Prepare daily summary reports for management, highlighting any issues, resolutions, and discrepancies.
Facility Management
- Enter, validate, and maintain line of credit (LOC) facilities within the core system, ensuring that all details, including terms and conditions, are accurate.
- Conduct loan opening verifications and perform necessary adjustments in the core system based on validated documentation.
- Monitor active LOCs, ensuring they comply with the terms set out in credit agreements and identify any potential issues.
Compliance and Risk Management
- Alert Validation: Review and validate compliance alerts generated during application processing (e.g., OFAC alerts, watchlist hits), escalating issues as needed.
- Risk Assessment: Conduct preliminary risk assessments on new and existing clients, documenting findings and communicating with compliance teams for further investigation.
- Audit Support: Provide documentation and detailed notes for internal and external audits, demonstrating adherence to compliance standards.
Client Communication
- Proactive Client Engagement: Communicate with corporate and commercial clients via phone and email to confirm details, request additional documentation, and provide status updates.
- Issue Resolution: Address and resolve client inquiries related to transactions, account access, and documentation requirements, ensuring a positive client experience.
- Follow-Up: Track and follow up on outstanding client issues, maintaining detailed records of communication and outcomes.
Education: College degree preferred or equivalent experience
