Cash Connect Manager of Operations and Contract Compliance

WSFS Bank • Newark, DE

14d

About The Position

At WSFS Bank, we empower our Associates to grow their careers, guide our customers to secure their financial futures, and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture, competitive salaries, advancement opportunities, and more. We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service® is more than part of our name, it’s our mission and our purpose. The Cash Connect Manager of Operational and Contract Compliance is responsible for overseeing all risks and legal matters associated with Cash Connect operations including, but not limited to, BSA/AML compliance, regulatory compliance for applicable banking regulations, customer and vendor onboarding due diligence and adjudication, ongoing customer and vendor reviews, operational loss and related insurance requirements, managing and optimizing operational processes, and contracts management. The incumbent will also play a key role in all internal and regulatory examinations along with being responsible for providing insights for all Cash Connect operations and initiatives to ensure adherence to applicable laws and regulations.

Requirements

• Bachelor’s degree in Business Administration, Finance, Risk Management, or related field.
• 7+ years in Risk Management, preferably in financial services or armored carrier operations and cash logistics.
• Experience working with contract law, regulatory compliance, risk management and operational processes.
• Ability to manage multiple priorities and meet deadlines in a high-security environment.
• Must have proven ability to quickly learn new areas, as well as solid understanding of all major parts of the business.
• Strong understanding of banking regulations including but not limited to BSA/AML, Regulation E, Regulation CC, Regulation D, Americans with Disabilities Act, etc.
• Proficiency in Microsoft Office, transaction monitoring systems, background check services, and general business operation systems.
• Excellent organizational, communication, and analytical skills.

Responsibilities

• Provide expert risk and compliance related insights for Cash Connect operations and initiatives.
• Present risk-related issues identified through various responsibilities to senior management both within the division and throughout WSFS Bank.
• Provide support for various internal and external audits, including OCC Examinations, Systems and Organization Controls (SOC) audit, and all WSFS Bank internal audits and compliance reviews.
• Lead and oversee the due diligence efforts and onboarding process for new and existing clients, evaluating legal, financial and operational risks and ensuring timely, efficient and compliant integration.
• Develop and implement due diligence processes and checklists to ensure consistency and regulatory compliance.
• Review and assess documentation, flagging gaps or potential risks and coordinate mitigation strategies with relevant teams.
• Establish and enforce onboarding procedures, ensuring all required document, agreements and certifications are collected and verified.
• Monitor onboarding progress and maintain accurate records for audits, regulatory exams and internal reporting.
• Ensure the timely and accurate completion of Currency Transaction Reports (CTRs), transaction monitoring alerts and cases, and Enhanced Due Diligence (EDD) reviews.
• Provide guidance on risk factors identified during investigations and reviews and ensure proper escalation to senior management as needed.
• Communicate with WSFS Bank BSA/AML management to ensure regulatory changes and special measures are executed in a timely manner.
• Ensure data quality in Cash Connect’s proprietary systems and transaction monitoring system.
• Oversee the management of all Cash Connect third-party business relationships by ensure all applicable associates are properly assigned in WSFS Bank’s Third-Party Risk Management (TPRM) system.
• Provide support for WSFS Bank TPRM efforts by ensuring all needed reviews are completed in a timely manner in the TPRM system.
• Oversee Cash Connect’s armored carrier audit program and act as a liaison between the third-party auditor and Cash Connect management.
• Oversee insurance-related matters including due diligence for device thefts and ensuring business partners are properly insured.
• Manage the full contract lifecycle, including drafting, review, negotiation, execution, tracking, renewal and closeout.
• Monitor contracts to ensure adherence to organizational policies, regulatory requirements and industry standards.
• Review and approve various contract renewals including customers and third-party business partner.
• Collaborate with legal, finance and operational teams to support contract negotiations and clarify obligations.
• Serve as point of contact for internal stakeholders and external partners regarding contract questions, obligations and compliance.
• Mentor and guide contract administrators, ensuring consistent application of policies and best practices.
• Other duties as assigned.

Benefits

• WSFS provides a competitive benefits package, which includes medical, dental, and vision coverage; a 401(k) plan; life, accident, and disability insurance; flexible spending accounts (FSAs) and health savings accounts (HSAs); and wellness programs.
• Additional benefits may include paid parental leave, military leave, vacation and other paid time off, sick leave in accordance with applicable state laws, and paid holidays.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level