ACH Supervisor, Miami, Florida
The ACH Supervisor is primarily responsible for the management of all daily ACH processing and ensuring compliance with internal policies and procedures, government regulations, Nacha, and Federal Reserve regulations.
Duties and responsibilities include:
- Supervise, monitor and approve the processing of ACH Transaction from incoming files received from the Federal Reserve Bank electronically via Fedline Advantage to determine if the ACH transactions received should be paid or rejected within the stringent ACH deadline period.
- Subject matter expert for compliance with NACHA regulations. Coordinate with legal counsel, Compliance and the bank's servicers to assure accurate interpretation of NACHA rules.
- Supervise the desks related to all researches and returns/rejects.
- Monitor, verify and approve all rejects, returns and dishonored returns ACH transactions on Fiserv reports and Fedline Advantage.
- Review and approve all outgoings ACH transactions, properly authorized and balanced between CORE system reports against Fedline Advantage.
- Create, monitor, approve and process all ACH Originations sent to the Federal Reserve Bank via Fedline Advantage for proper posting directly to the receiver or respective depository bank in order to comply with Nacha regulations.
- Handle all account investigations and rejected transactions. Make sure that whenever there is a customer's discrepancy or unauthorized ACH transactions are returned in compliance with REG E.
- Monitor all Treasuries claims and perform the proper investigation for the returning of funds.
- Reconcile and ensure that all originated and returned ACH files with the Federal Reserve via Fedline Advantage are in balance with the Federal Reserve statement.
- Responsible for validating all changes in the CORE system releases related to ACH.
- Responsible for all ACH Departmental audits (Internal and External auditors).
- Stay abreast of changes to NACHA regulations. Ascertain that policies, procedures and systems are updated as needed.
- Participates in the development of all new ACH products as well as changes to existing products and processes.
- Recovery team leader assistant, responsible for the process of 'Business Continuity Plan', assesses whether the incident is critical, assure that all of departmental functions are in order as per specified guidelines.
- Ensure preventive measures are carried out to fully comply with current rules, regulations and internal policies relating to risks pertaining to BSA, USA Patriot Act, OFAC and other AML related issues.
- Perform other related duties and assignments as required.
- Responsible for the development and maintenance of the Procedure Manual covering the area of supervision.
- Monitor and Supervise the reject desk and research desk insuring daily operations are running smoothly and assure that all is in compliance with procedures and regulations (this area of responsibility is not limited to ACH transactions but to all deposit related transactions).
- Recommend to immediate supervisor, policy and procedure changes needed to ensure quality of service in the Wire Transfer Department as well as continuous improvement of the wire process.
- Identify and report to immediate supervisor any current or prospective risk to earnings or capital arising from violations of, or nonconformance with laws, rules, regulations, prescribed practices, internal policies and procedures or ethical standards.
- Monitor and control the Risk Management plan that covers the area of supervision.
- Implement and monitor Service Level Agreements affecting the area of supervision.
- Monitor and control all KPIs (Balance Score Card) for the area of supervision.
Functional Skills & Knowledge Requirements:
Must be a team player, have the ability to work under pressure, have a professional image and be able to resolve problems and conflicts. Must be able to prioritize work and effectively manage time. Must possess basic business communications skills such as advanced writing, listening and have basic office and mathematics skills, and customer service skills. Possession of professional skills such as report writing, basic statistics, effective presentation skills and creative skills are required. Must possess Delegation and Grid Development skills as well as supervisory, decision making, motivational and coaching skills. Must be able to effectively hire, discipline andmanage assigned workforce as well as conduct performance evaluations.
Minimum Education and/or Certifications Requirements:
Bachelor's degree or minimum of five years of comparable experience in lieu of education.
Minimum Work Experience Requirements:
Minimum five years' experience in the ACH area and in operations dealing with International Banks. Strong knowledge of NACHA and OFAC requirements is a must and all banking regulations impacting the ACH.
Technical and/or Other Essential Knowledge:
Previous experience internet and MS Outlook Excel, Word and PowerPoint required. Bilingual (Spanish/English) preferred.
Physical Demands: Sit at the desk 50% of the time working with PC, 25% solving or answer phone calls, 25% walking through the Department.
Stressors: Unusual working hours due to special projects or daily transactions that needs to be processed.