Deposit & Payment Operations Department Head - Salem, United States - Salem Five Bank

Salem Five Bank Salem, United States

2 weeks ago

Full time

Description

Who We Are: Join an organization that prioritizes innovation, customer service and supporting the communities we serve. Love the people you work with while participating in and helping to shape our collaborative environment. When you join Salem Five, you become part of a growing, regional financial services company. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Why Salem Five: We've been around since 1855 – which means we will be around a lot longer – but we also know what it takes to be competitive in this day and age. We pride ourselves in being one of the first banks on the internet and continually try and push ourselves to offer the latest in online and mobile banking to serve our customers in whichever channel they prefer. Whether it be a virtual assistant via our website, obtaining cash at ATMs without a card present, or going through the mortgage process via our digital app, we want to offer the digital experiences that customers want. Continued company growth offers opportunities for individual growth

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we're all about.

JOB DUTIES AND RESPONSIBILITIES include, but are not limited to the following:

Deposit Account and Payment Operations – Core Duties and Responsibilities

Manage and direct teams in the performance of the following core duties and responsibilities of the Department:

1. Deposit Account Operations

Audit all new account openings for proper set-up, accuracy and completeness, and compliance with Customer Identification Policies (CIPs)

Perform any manual or exception activities needed in account set-up

Execute account maintenance that requires DPO action, and monitor all account maintenance for accuracy, completeness and compliance

Monitor and audit all deposit account closings, processed by a branch employee, to ensure process is complete, and in compliance; execute any direct action required of DPO

2. Payment Operations – for all payments processed through the Bank, including check, wire, ACH, card, P-to-P, and real-time payments:

Execute all actions required of DPO to process payments, or clear exceptions and problems

Monitor all payment flows and activities to ensure all volumes and activities within expected ranges, and to ensure all payments are processed accurately and within deadlines established by the Federal Reserve, the Bank's core system and payment system providers, payment networks, and other participants as applicable.

Process all customer claims of fraud or error on debit card, ACH, or other payments, and resolve in timely, professional and compliant manner.

Oversee (or manage directly) all participation in networks and clearing systems for all payments

3. Debit Card Production

Oversee and manage all aspects of debit card production and shipping, including provision of PINs

4. ATMs

Manage all aspects of the Bank's ATM network and use of foreign ATMs, including network participation

Procedure, Compliance, and Control

Ensure that Department has written procedures for all functions that are kept current, i.e., reviewed periodically and updated as circumstances change

Ensure that all activities in the Department are executed in manner that is compliant with all applicable laws, regulations, agreements, policy, and procedure

Build and sustain expertise on all applicable regulations among Department members

Process Improvement

To enhance customer experience, efficiency, and risk management, build and sustain a culture of continuous process improvement in the Department, including mapping all processes, leading process reviews, and taking action to improve.

Automated Systems

Perform system administration on all systems assigned to the Department for that purpose

Develop and maintain in-depth knowledge of the Bank's core applications and operational systems used by the Department, and act as subject matter expert on those systems

Ensure teams fully trained on systems used by department, in order to fully leverage the capability of the systems

As needed or requested, assess suitability and effectiveness of systems for the business need, and provide recommendations

As needed, participate in and lead projects to install, upgrade, replace systems used by the Department and the Bank

Payments Expertise

Build and sustain a detailed understanding of all payments channels and networks, including: execution/operational flow; risks; costs; revenue; and obligations and mandates in laws, regulations, agreements, policy, and procedure. Organize and present information on payments flows, volumes, and trends. Serve as resource to others to understand the flow of payments and the Bank's role and participation in payment processing.

Vendor Management

For all vendor relationships owned by the Department (or partially owned by the Department), exercise sound vendor management including: detailed understanding of the scope of services and service level commitments; prompt problem identification; periodic assessment of quality of service; detailed oversight and approval of invoices and fees.

Management Reports and Performance Metrics

Develop and maintain management reports for all Department responsibilities, including trends on all key statistics and on all key performance metrics

Develop, utilize, and adjust key performance metrics for the department including quality, productivity, and efficiency.

Projects

Lead or participate in projects as the need arises

Anticipate and organize around the need to support a steady stream of initiatives to improve the Bank or the Department

Partnership

Establish and maintain strong working relationships with leaders of all business units, Fraud,Information Systems, Loan Operations, Digital Delivery , and Contact Center.

Expense

Manage expenses of Department and all projects within budget each year.

MANAGERIAL RESPONSIBILITIES

Recruit, hire and lead Department supervisors and team members with skill and experience to meet the business need

Determine structure that best suits the duties and responsibilities of the Department, and best leverages the available resources

Communicate clearly and often priorities for the Department to support Bank goals and objectives

Set clear goals and objectives for each member of the team

Coach and develop Deposit and Payments supervisors and team members

Lead performance management of the team; address any significant performance issues in a timely manner

QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform the job duties at least satisfactorily. Required knowledge, skills, and ability include:

Detailed understanding of deposit and payments operations, including especially regulatory and network requirements

Strong understanding of the importance and use of procedure and controls to manage the Bank's risk

Accredited ACH Professional Certification required within two years of start of employment

Ability to structure, build, guide, and lead a team

Ability to effectively lead projects

Strong understanding of how process affects customer experience, efficiency, and risk, and the ability to review and improve process

Willingness and ability to build and sustain strong partnership with business and support partners in the Bank

Reasonable accommodations may be made to enable individuals with disabilities to perform the duties of the job.

EDUCATION and/or EXPERIENCE : Candidate should have at least an Associate's degree; Bachelor's degree preferred. Candidate must have at least 5 years' experience in bank, financial services, or similar operations, and at least two years' experience supervising a group of 5 or more people.

PHYSICAL DEMANDS: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit and use hands to finger, handle, or feel. The employee is occasionally required to walk. Specific vision abilities required by this job include close vision.

Benefits/Incentives : Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more

Salary Range : Competitive Base

Ready to apply ? If this job sounds like a fit for you, then click on Apply / Apply Now in this posting. We look forward to talking with you.

Qualified candidates may also submit a resume and application online at or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.

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