Manager, Bank Deposit Operations

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Job ID:
20180109-214
Job Category:
Banking
Relevant Work Experience:
Brokerage Operations-2-5 yrs, Regulatory, Banking-6+ yrs, Risk Analysis
Current Licenses / Certifications:
None
Position Located In:
AZ - Phoenix
Education:
BA/BS
Job Type:
Full Time
Description:

Phoenix - AZ, PHX4750A, 4750 E Francisco, 85044-5359
Brittany Steichen
20180109-214

We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.

As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all.  As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.

Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies.  The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities.  The integrated banking and brokerage services represent the strong value proposition we offer our clients. 

Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products.  In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 12th largest bank in the United States.  Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location.  Consistent with the brand, we offer exceptional client experience.

Our Opportunity:

The Manager-Bank Deposit Operations is responsible for the performance and monitoring of daily Bank operations, with a focus on transaction processing, monetary adjustments, handling escalations from client facing reps, and GL reconciliation.  The Manager-Bank Deposit Operations functions both as a subject matter expert on all escalations regarding transaction processing on deposit accounts, lending products, and internal General Ledger accounts while supporting process improvement projects to increase operational efficiency, improve the client experience, and manage risk.  The Manager-Bank Deposit Operations assures compliance with all Bank policies and procedures, as well as all applicable state and federal Bank regulations in the context of her/his responsibilities. 

Charles Schwab Bank follows the three lines of defense model of risk governance.  The Manager-Bank Deposit Operations is a first line of defense position for Charles Schwab Bank and assures compliance with all Bank policies and procedures, as well as all applicable state and federal Bank regulations in the context of their responsibilities. 

What you’ll do:

  • Complex Issue Research and Resolution
    • Monitor and assist with account open and account maintenance production issues
    • Identify repeatable issues and investigate to identify a system solution
    • Work with 23B partners to provide guidance on bank policies and procedures
    • Submit known production issues to third party vendors for corrective action
    • Devise and communicate work around solutions until permanent fixes can be implemented
    • Perform manual remediation
    • Prepare and Review ad-hoc reports to provide supervision and oversight and ensure compliance with Bank Regulations
  • Production Issue Evaluation and Support
    • Escalate system outages, delivery updates, devise workarounds and coordinate communications
    • Open and manage incident tickets with third party vendors
    • Create and perfect operational processes for new products, draft procedures and own task transitions
    • Perform user testing and complete validation for application enhancements
  • Support all Bank Operations processes and projects as necessary to maintain high quality service and build teamwork
    • Provide Subject Matter Expertise (SME) support on project teams and user community forums
    • Represent bank deposit application usage, product functionality and statement process for bank deposit projects
    • Train team members on processes, issue evaluation and resolutions
  •  Manage client account and internal bank account adjustments process
    • Process all monetary adjustments to client accounts and internal General Ledger accounts following established procedures and controls
    • Adhere to established service level problem resolution timeframes
    • Establish relationships with Federal Reserve Bank and other critical Bank vendors to resolve system issues quickly
  • Manage General Ledger account balancing processes
    • Work with Asset Reconciliation department, Bank Accounting and 23b partners to balance Bank General Ledger accounts
    • Investigate and resolve complex  transaction processing issues
    • Review daily settlement report and assist in researching and resolving out of balance conditions supporting the reconciliation of transactions between the Bank and the Brokerage.
  • Oversee the Check and Automated Clearing House (ACH) reconciliation process
    • Ensure all Checks and ACH transactions are processed within required service quality and regulatory timeframes 
  • Monitor 23B activities to identify out of policy activities
    • Follow established processes to identify activities that are out of policy or have potential impact to bank, client or adherence to bank regulations
    • Communicate identified transgressions through identified escalation channel
  • Manage client fraud recovery process
    • Work with Deposits and Payments Risk Management and FP&I to recover lost funds
  • Serve as the final point of escalation for all Schwab Bank transaction processing and money movement related issues
  • This is an individual contributor position

What you have:

  • 5 years' experience in retail banking
  • Exceptional critical thinking, problem solving and analytical skills
  • Familiarity with Schwab’s product functionality and Schwab’s Bank systems and interfaces preferred.
  • Self-starter with excellent time management skills.  Must be able to work with minimal supervision
  • Strong data management skills and the ability to organize and manage multiple priorities
  • Excellent verbal and written communications skills
  • 1-2 years general ledger accounting experience preferred
  • Solid knowledge of bank regulations, policies, and procedures
  • Solid knowledge of Microsoft Office required
  • Bachelor’s degree or equivalent experience required
  • AAP or NCP preferred

What you’ll get:

  • Comprehensive Compensation and Benefits package
  • Financial Health: 401k Match, Employee Stock Purchase Plan, Employee Discounts, Personalized advice, Brokerage discounts
  • Work/Life Balance: Sabbatical, Paid Parental Leave, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer, Employee Matching Gifts Program
  • Everyday Wellness: Health and Lifestyle Wellness Rewards, Onsite Fitness Classes, Healthy Food Choices, Wellness Champions
  • Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships
  • Not just a job, but a career, with an opportunity to do the best work of your life

 


Learn more about Life@Schwab.


Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law. Schwab also does not discriminate against applicants or employees because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. At Schwab, we believe that every employee, through their diverse abilities and experiences, can contribute to our growth, innovation and client loyalty. We embrace diversity and are committed to providing equal opportunity to all employees and applicants. If you have a disability, and require reasonable accommodations in the application process, call Human Resources at 800-725-3535. We will be happy to assist you. Schwab will only share your accommodation request with those individuals who have a specific need to know. The request for an accommodation will not affect Schwab's hiring decisions. All other submissions should be performed online.


Job Specifications
Relocation Offered?: No
Work Schedule: Days
Languages: English - spoken
Current Licenses / Certifications: None
Relevant Work Experience: Brokerage Operations-2-5 yrs, Regulatory, Banking-6+ yrs, Risk Analysis
Position Located In: AZ - Phoenix
Education: BA/BS
Job Type: Full Time

Category:Banking
Activation Date: Friday, January 12, 2018
Expiration Date: Thursday, March 1, 2018
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Brokerage Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law. Schwab also does not discriminate against applicants or employees because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant.

At Schwab, we believe that every employee, through their diverse abilities and experiences, can contribute to our growth, innovation and client loyalty. We embrace diversity and are committed to providing equal opportunity to all employees and applicants. If you have a disability, and require reasonable accommodations in the application process, call Human Resources at 800-725-3535. We will be happy to assist you. Schwab will only share your accommodation request with those individuals who have a specific need to know. The request for an accommodation will not affect Schwab’s hiring decisions. All other submissions should be performed online.

The Charles Schwab Corporation provides a full range of securities, brokerage, banking, money management, and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (“Schwab”), Member SIPC , offers investment services and products, including Schwab brokerage accounts. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides deposit and lending services and products.