Correspondent Services Analyst
About The Position
The Correspondent Services Analyst is responsible for the daily processing of member and internal bank transactions with a strong focus on accuracy and timeliness. Assist members with inquiries and help internal departments resolve any discrepancies while delivering outstanding customer service. Position will have a specific focus but cross trained to support other Correspondent Services’ roles. The following statements are intended to describe the general nature and level of work being performed by persons assigned to the job. They are not intended to be an exhaustive list of all responsibilities or abilities required of persons so classified. The Bank reserves the right to alter or amend this description at any time.
Requirements
- BS in Business Administration, Finance, or other closely related field.
- Three years’ experience working in a financial institution, preferably in funds transfer, safekeeping, or accounting functions.
- Excellent communication skills.
- Ability to prioritize and strong organizational skills.
- Experience using Microsoft software, including Power BI.
- Must not have been convicted on any civil or criminal charges that would suggest a risk to Bank security.
- Ability to work beyond normal Bank hours as business needs dictate.
- Ability to work full-time.
- Ability to uphold and model the Bank’s Guiding Principles.
Responsibilities
- Work with our members and custodian to ensure all transactions, including security settlements, pledges/releases and corporate actions are processed accurately and timely.
- Process the daily income files, including researching and correcting all income exceptions.
- Work with members and custodians to research and resolve any income discrepancies.
- Ensure timely and accurate processing of all wire transfer requests.
- Ensure timely and accurate processing of daily ACH activity.
- Performs the daily wire system shutdown.
- Assist members with questions related to account activity.
- Completes daily manual DDA entry and performs second review for completeness and accuracy.
- Perform a daily cash and position reconciliations between IFS and Citibank.
- Maintains and updates safekeeping procedures.
- Assists with any testing required from either internal or vendor systems to help maintain the operational integrity of the safekeeping process.
- Works with the Correspondent Services Specialist to ensure member authorization lists are updated and accurate.
- Monitors the Bank’s Federal Reserve account and coordinates the release of wires to prevent any daylight overdrafts.
- Registers and participates in all required FRB and Finastra tests.
- Maintains and updates wire and ACH procedures.
- Works with the Correspondent Services Specialist to ensure member authorization lists are updated and accurate.
- Responsible for the issuance of member test keys.
- Review potential OFAC matches.
- Monitors ACH activity to ensure compliance with NACHA guidelines.
- Participates in annual EPCOR audit.
- Fund the Citibank account daily and determine the target balance to ensure ECR credits are maximize.
- Reviews the monthly Citibank billing statement for accuracy.
- Funds the commercial bank accounts daily.
- Completes and verifies monthly ACH member billing.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Number of Employees
251-500 employees
