Fintech Operations Specialist - Effingham, IL, United States - Midland States Bank

Description

At Midland States Bank, base salary is one component of our Total Rewards program. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards).

Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan.

The Fintech Operations Specialist - BaaS is a key player in managing and optimizing our bank's deposit operations within the Banking-as-a-Service ecosystem.

This position is an individual contributor role responsible for overseeing deposit-related activities, ensuring regulatory compliance, and providing operational support for our fintech sponsorships and third-party partnerships.

The Specialist will report to the Manager - Fintech Services and will serve as advisor to provide insights and guidance to the Director of Banking-as-a-Service working collaboratively with cross-functional teams to maintain and enhance deposit operations, contributing to the bank's overall success in the BaaS domain.

Oversees deposit operations for fintech sponsorships and third-party relationships within the BaaS framework.
Ensures compliance with regulatory requirements, focusing on deposit-related regulations and standards.
Manages and optimizes processes related to account maintenance, transaction verification, and issue resolution in the BaaS context.
Escalates questionable transactions, unresolved issues, and recurring issues to management in a clear and timely manner.
Handles the daily processing and balancing of exception items associated with fintech partner programs.
Manages requests for audit documentation as needed.
Monitors and analyzes deposit activities to identify trends, prevent fraud, and enhance operational efficiency.
Collaborates with fintech partners to align operational practices, ensuring seamless integration and mutual compliance.
Supports the development and implementation of new deposit products and services within the BaaS offerings.
Provides expertise and guidance on deposit operations to internal teams and external partners, fostering collaboration and knowledge sharing.
Maintains accurate and comprehensive documentation for audit purposes, facilitating regulatory compliance and risk management.
Contributes to the training and development of team members, promoting a culture of excellence, innovation and continuous improvement.

The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.

May require work in a Midland office to ensure collaboration and support of internal and external customers.
Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).

Bachelor's degree and 1-2 years of relevant banking experience in a related area, or an Associate's degree with 3-4 years of relevant banking experience.

Demonstrated proficiency in using software and programs relevant to deposit operations.
Knowledge of Microsoft Office Suite.
Experience in Banking as a Service (BaaS) and fintech partnerships is highly desirable.
Strong analytical, organizational, and time management skills.
Business insight
Being a brand champion
Emotional Intelligence
Being flexible and adaptable

At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at .

THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT