Transaction Banking Services - Cash Management Services - Associate (Payments Support Team)

** 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

KNOWLEDGE AND SKILLS

Qualifications/Education:

• Bachelors Degree required

(any discipline)

Experience Required:

• FEDWIRE and CHIP’s usage; SWIFT

Desirable:

• Montran JGPS usage
• Fircosoft
• Experience with BCP Testing
• Specialist Training Required:

Competencies Required:

• Communication skills
• Ability to work in a small team

Skills & Knowledge Requirements:

• Payment systems
• Microsoft Office products

Role is in the Iselin, Metropark NJ Office