Clearing and Wires Operations Manager

4 weeks ago


Toronto, Ontario, Canada DUCA Financial Services Credit Union Ltd. Full time
Job Title: Clearing and Wires Operations Manager

DUCA Financial Services Credit Union Ltd. is seeking a highly skilled Clearing and Wires Operations Manager to join our team. As a key member of our Deposits and Clearing department, you will be responsible for leading the Clearing and Wires team in delivering operations related to clearing administration and wire processing.

Key Responsibilities:

  • Lead and develop the Clearing & Wires team, including hiring, training, coaching, and all other aspects of people management and development.
  • Stay current on product and reporting related regulatory requirements and recommend and implement policy, process, and procedure changes to ensure compliance.
  • Oversee the clearing and wires operations and processes related to:
  • processing and balancing daily electronic fund transfer (EFT) and cheque clearing files
  • processing rejected bill payments and Member requested bill payment traces/recalls
  • ATM exchange adjustments and responding to RFIs.
  • Exchange Network daily reconciliation, adjustments and inquiries
  • M2M daily reconciliation, adjustments and inquiries.
  • E-transfers daily reconciliation, adjustments and inquiries
  • Remote deposit daily reconciliation and inquiries
  • Wire processing with BMO and Central 1, ensuring all items are compliant within regulatory requirements, initiating traces and recalls, and reviewing Corporate account balances to ensure sufficient funds are always available.
  • Ensure balance sheets are fully completed and address any outage promptly.
  • Manage all internal and external reporting requirements; produce regular and ad-hoc reports.
  • Act as the lead for all internal and external audits related to clearing and wires transactions.
  • Identify, research, recommend, and implement new or enhanced procedures, systems, and workflows to improve operational effectiveness that support business needs.
  • Provide subject matter expertise, and advice and guidance to Member-facing employees.
  • Identify skill and knowledge gaps that need to be addressed through performance management, coaching, training, and/or business process and procedure development.
  • Respond to, and lead the department's response to, clearing and wires questions, queries and problems from internal clients across DUCA.
  • Develop, implement, and produce reports that provide channel and product sales leaders with insights that enable them to coach their teams to maximize product sales and fee income, and to minimize Member experience issues and revenue leakage.

Requirements:

  • Undergraduate degree in Business, Accounting, Finance or related discipline, or combination of education and equivalent experience.
  • 5+ years working in a high-volume clearing and wires environment.
  • 1-2 years' experience managing a team, with responsibility for the full range of people management activities.
  • Experience leading or managing a wires and / or clearing function
  • Experience with mergers / acquisitions, systems integrations, and conversions, an asset.

What We Offer:

  • A competitive salary range starting at $78,149.
  • A total compensation package that may include incentive compensation tied to company and individual performance or other benefits.
  • A dynamic and collaborative work environment.
  • Opportunities for professional growth and development.


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