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Deposit and Remittance Operations Manager

2 months ago


Toronto, Ontario, Canada MUFG Full time
Job Summary

The primary responsibility of the incumbent in this position is to oversee the day-to-day operations of Deposit and Remittance operations, clearing and settlement functions, reconciliation of electronic and manual payments, and related administrative activities.

Key Accountabilities:
  • Lead and oversee the daily activities of MTD ensuring accuracy of processing and ongoing compliance with Bank's policies and procedures.
  • Timely resolution of any issues or problems impacting or having the potential to impact processing, compliance, or service delivery to clients.
  • Pro-actively work to prevent problems, and if and when they occur, conduct root cause analysis and develop and oversee the implementation of counter measures, including identifying and recommending changes in procedures or enhancement of control.
  • Verify, approve, and manage day-to-day processing of SWIFT incoming, outgoing, and book transfer payments and messages in GPP and SAMH systems in accordance with Bank's policies and procedures.
  • Supervise opening of deposit accounts, closing of deposit accounts, deposit account maintenance, posting of transactions, clearing cheques processing, issuance of cashiers orders, dispatch of customer account statements, and other related correspondence.
  • Troubleshoot problems and issues in close consultation with VP MTD.
  • Custodian of wireroom for the Bank, including maintenance of RMA with Banks.
  • Handle end-of-day processes, Nostro, and GL reconciliations relating to remittance operations.
Client Experience:
  • Act as a focal point of contact to Front Office for MTD operations-related matters and queries.
  • Maintain a high level of customer service; support and coordinate with Front Office, Treasury, TLA, Finance, ITD, and Transaction Banking teams.
Regulatory Compliance and Reporting:
  • Handle the filing of regulatory reports relating to the area of operation in a timely manner and with utmost accuracy.
  • Manage FINTRAC message repair and reporting through Navaera system.
  • Maintain knowledge of Bank of Canada, OSFI, Payments Canada, FINTRAC, and other regulatory agency's rules relating to the area of operation and initiatives and changes originating from the bank's Clearing Agent to facilitate pro-active planning for any changes and to respond to opportunities to gain efficiencies.
  • Prepare daily, monthly, and periodic reports and participate in Bank's Risk and Compliance-related projects and initiatives.
Staff Management:
  • Assist in guiding, directing, and evaluating the work and performance of MTD Specialists and the assignment of staff duties and responsibilities.
  • Train and develop staff and promote a positive work environment. Formulate effective training and cross-training plans to ensure that all staff are fully proficient in their role and adequate staff coverage during peak processing periods. Make recommendations to VP MTD for system enhancements; improve productivity and efficiency of Deposits and Remittance area.
  • Assist in staff performance reviews, coaching, and staff development plans.
Project Related:
  • Lead UAT for system enhancements, train staff, and update procedures and Job Aids.
Technical Skills:
  • Thorough knowledge of SWIFT and Payments Canada rules relating to cheques and EFT payment systems and the products offered by Direct Clearers to Indirect clearers in the market place.
  • Excellent knowledge of Excel, PowerPoint, Word, with working knowledge of Access and MS Projects.
  • Sound knowledge of global payment systems, especially the ones relevant to major global currencies.
Experience and Abilities:
  • The ideal candidate should have 2-5 years of experience in a Bank, out of which at least 2 years in Corporate and Commercial Deposit and Remittance Operations area.
  • Excellent interpersonal, communication, customer service, negotiation skills with strong emphasis on compliance.
  • Excellent analytical, problem-solving skills with strong attention to details.
Education and Training:
  • Bachelor's degree or diploma in Business with strong accounting skills.
Working Environment:
  • 4 days in-office; 1 day from home.