Operations Analyst

1 week ago

Toronto, Canada Bank of America Full time

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. In Canada, Bank of America has a strong market position on which to continue to build, as well as a clear commitment to the market.

The Operations Analyst is responsible for managing the deposit preparation of all USD and CAD dollar Cheques received daily. This role is critical to ensure our client receivables are successfully deposited via ICL image files. In addition, this role is responsible for daily reconciliation of Deposits, FX and daily returns items.

**Responsibilities**
- Production support, including extraction, scanning, encoding and daily work distribution
- Own the onsite Foreign Exchange Process end to end, by reviewing the quality of work being routed to the FX Desk, identifying errors, authorizing each Cheque conversion, providing the Corporate FX Sales Team with a direction to book tickets, while acting as the onsite foreign exchange SME.
- Act as the first point of contact for system issues relating to workflow and daily deposit cuts engaging Helpdesk, System Control, and the Deposit Bank, while keeping the leadership team in the loop on the progress and resolution.
- Research outstanding items in the CAD and USD Deposit and Returned Item Accounts, providing accounting instructions to the reconciliations team, bringing aging items to the attention of the Senior Analyst.
- Manage the Returned Items Process, sending accounting instructions to Toronto Treasury Process Support, reconciling all items including items that have been converted and then returned.
- Prepare the end of the day deposit, balancing cash payments received and cheques needing to be sent to the Deposit Bank for paper clearing.
- Calculate and report on daily deposits in both CAD and US Dollars, researching and resolving differences same day.
- Monitor the encoding workflow, identifying and resolving all issues in an expedited manner to avoid any impact to the client or business, completing all deposit cuts, sending necessary files to the deposit bank.
- Complete audit report requirements.
- Log, audit postdated items inventory.
- Log, audit Iron Mountain inventory and reports.
- Perform manual entries and support month-end reports including monthly billing.
- Verify and approve questionable items and exception forms.
- Handle incoming and outgoing customer service queries.
- Support the Senior Analyst in gathering statistics and maintaining spreadsheets utilized for forecasting.
- Complete ad hoc reporting on quality and productivity related issues as required.
- Procedure reviews.
- Camera monitoring and reporting.

**Qualifications**
- Ability to handle large volume of work under stringent deadlines while maintaining a high degree of accuracy
- Physical ability to lift up to 50lbs.
- Working knowledge of AS400/GBS and On Line Support an asset
- Knowledge of the banks Treasury Lockbox product an asset
- Excellent communication, organizational and problem-solving skills
- Demonstrated ability to work independently with mínimal supervision, Team player
- Ability to meet established deadlines in a fast-paced environment
- Must be able to adapt quickly with the willingness to learn; will be required to cover off different responsibilities within the unit as necessary
- Familiar with local Payments Canada Rules and Regulations for Cheque processing (ACSS/AUSS), would be an asset
- Ability to read French would be an asset; but not required
- Post-secondary education preferred but not required
- Experience in financial services preferred but not required

**Additional Qualifications**
- Strives to bring new thoughts and ideas to teams to drive innovation and unique solutions
- Excels in working among diverse viewpoints to determine the best path forward
- Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner
- Commitment to challenging the status quo and promoting positive change
- Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
- Believes in value of diversity so we can reflect, connect, and meet the diverse needs of our clients and employees around the world.

**What Bank of America Offers**

Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, ou

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