Job description

Summary

 Role is in the Iselin, Metropark NJ Office

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

Salary Range: $90k - $112k