Banking Operations Associate

Responsibilities

• Process, verify, and settle daily transactions across deposit, loan, and general ledger systems, ensuring accuracy and completeness before end-of-day cutoffs.
• Originate, review, and release domestic and international wire transfers in accordance with Fedwire and SWIFT procedures, dual-control requirements, and OFAC/sanctions screening.
• Process incoming and outgoing ACH transactions, including NACHA file validation, returns, reversals, and Notification of Change (NOC) handling.
• Identify, investigate, and resolve transaction exceptions, including holds, suspense items, out-of-balance conditions, duplicate entries, and rejected entries.
• Serve as the primary escalation and inquiry point for the Customer Service team regarding transaction status, holds, wire and ACH tracing, and exception resolution.
• Research and respond to wire recalls, ACH disputes, and unauthorized transaction claims; coordinate with correspondent banks and the ACH network as needed.
• Reconcile general ledger and suspense accounts related to wire and ACH activity; prepare adjusting entries as required.
• Maintain compliance with BSA/AML, OFAC, Regulation E, NACHA operating rules, and internal policies and procedures.
• Document processing exceptions and root causes; recommend process improvements to reduce recurring errors and manual touchpoints.
• Support internal and external audits and examinations by providing transaction records, exception logs, and procedural documentation.
• Assist with month-end, quarter-end, and year-end processing and reporting as needed.

Requirements

• 2+ years of experience in bank operations, back-office processing, or a similar transaction-processing role.
• Hands-on experience with wire transfer processing, including Fedwire and SWIFT.
• Experience with ACH processing, including NACHA file formats, returns, and NOCs.
• Working knowledge of BSA/AML, OFAC, and Regulation E requirements as they relate to payment processing.
• Experience with core banking platforms and payment or wire systems, such as Fiserv, Jack Henry, or FIS.
• Proficiency in Microsoft Excel and other Microsoft Office applications.
• Strong attention to detail and accuracy under time-sensitive processing deadlines.
• Analytical and problem-solving skills for researching and resolving exceptions and discrepancies.
• Clear written and verbal communication for partnering with Customer Service and other internal teams.
• Ability to prioritize and manage a high volume of transactions and inquiries simultaneously.
• Discretion in handling confidential customer and financial information.
• Ability to work independently and collaboratively in a team-based operations environment.

Compensation and Benefits

• Base salary range: $55,000–$95,000 USD.
• Flexible paid time off.
• Stock option plan.
• Five days of volunteer time off.
• Competitive compensation and 401(k).
• Medical, dental, and vision coverage.
• Commuter benefits through a flexible spending account.