Money Market, Fed Wire Supervisor - Great Falls

$22.00 - $32.64 hourly
  • D.A. Davidson
  • Great Falls, MT, USA
  • Nov 16, 2023
Full time Accounting Finance General Business

Job Description

Job Description

This position is responsible for processing the Fed Fund wire transactions to ensure the accurate and timely posting of the wire transfers, for balancing the money funds, processing checks, sweeps, ACH, etc. transactions that take place in the Money Fund accounts, setting up new check writing and Visa debit and credit cards for clients, processing BillPay applications and assisting in troubleshooting. As a member of the Cash Management Team this person is also responsible for settling the firm’s cash on a daily basis. These responsibilities are rotated as part of a team. In addition, this position acts as the department supervisor.

Experience and Skills

* High School diploma or comparable work experience. AA degree in accounting preferred.
* Ability to operate a computer and adding machine by touch.
* Strong computer skills to include Microsoft Outlook, Word, and Excel.
* Strong organizational skills and attention to detail.
* Strong general accounting principles (what is a debit, what is a credit).
* Sound judgment and analytical skills.
* Ability to follow policies and procedures. Maintain client confidentiality.
* Communicate in a clear and service-oriented manner. Use appropriate, professional language and grammar to effectively exchange ideas and information both written and verbally.
* Ability to proactively work with both external and internal clients. Relate with others in a professional manner in order to accomplish work responsibilities and objectives.
* Ability to work well in a team environment.
* Ability to maintain regular, predictable attendance.

Duties Supervisor:
* Assist the Department Manager with various human resource issues. Provide input for employee performance reviews and salary adjustments. Participate in the interviewing process for new employees.
* Serve as work leader for the various positions in the department. Respond to questions; provide training; resolve problems; serve as a liaison between Manager and the staff
* Serve as a resource to the branches to resolve problems.
* Troubleshoot issues arising with outside vendors; work with vendors and Department Manager to resolve.
* Participate in the development, enhancement and maintenance of department procedures. Train staff and branch personnel on changes affecting department policies and procedures regarding Money Funds/Fed Wire rules and regulations.
* Serve as a backup to the Department Manager including assisting with review and approval of oversight reports.
* Work with Department Manager on special projects as assigned.

Duties Fed Wire Operator:
* Process the Fed Fund wire transfers for the Company to ensure the accurate and timely initiation of the wires. Check wire requests against wire transferring procedures to ensure the required paperwork/signatures have been submitted. Review the bank accounts to ensure adequate funds are available to cover the transfers. Initiate the wire on the appropriate bank website for it to be sent.
* Research and troubleshoot rejected wire transfers. Follow up until resolved.
* Daily, print out all the bank balances for the Bank of New York, US Bank and First Interstate Bank and input balances/ wires into the daily Cash Management Excel Spreadsheet. Work closely with lead C/M person daily.
* Identify 3rd party wires needing verification by Ops. Contact clients for verbal verification.
* Ensure OFAC check has been done for 3rd party wires and work with AML officer if needed.
* Approve wires input by another individual
* Book fed wires to BETA

Duties Money Fund Administrator:
* Balance and reconcile daily, various Money Funds to Dreyfus Corporation and internal general ledger controls. Research and correct any errors and out of balances.
* Balance and reconcile daily, the BIDP (FDIC) product with IntraFi and program banks. Research and correct any errors and out of balances.
* Notify Financial Professionals (FPs) of issues with money fund checks, Visa, BillPay and ACH transactions presented to Davidson by United Missouri Bank (UMB) that are potentially non-sufficient funds (NSF) items.
* Review potentially fraudulent money fund checks presented to Davidson by UMB daily.
* Set-up new DADVANTAGE check writing, order Visa debit and credit cards, set-up BillPay.
* Serve as liaison between UMB and clients and FPs on Visa debit and credit card problems to include lost and stolen cards, credit availability, and cancelling cards.
* Order new specialty and regular checks and process reorder requests and charge client accounts accordingly.
* Provide copies of DADVANTAGE checks for clients and process client-initiated stop payments on their DADVANTAGE checks.
* Reconcile and pay monthly fee statement for client check orders with Harland Clarke.

Duties Cash Management Team Member:
* Work with the Fed Wire Operator to review all cash activity at mid-day to determine potential need for same day funding to meet fiscal obligations relating to DTC/NSCC settlement, sweep activity, checks clearing, wire activity, etc. Provide preliminary analysis to another Cash Manager for review. Make necessary corrections.
* Transfer funds between banks mid-day if needed.
* Communicate with the Cash Settlement group the status of cash at mid-day and end of day so borrowing can be arranged for the next day’s underwritings.
* Review all cash activity at the end of day and set up wires to/from the various banks to leave them in the black.
* Invest excess funds at Liquidity Direct or arrange to take an overnight loan with USB or BONY.
* Work with the New Issue Coordinator to make sure funds will be available for closings.
* Check off the previous day’s fed wires for booking accuracy against the confirmations and bank general ledgers. Communicate differences to Accounting as needed for the reserve calculation.
* Process the Reserve Fed wires with banks.
* Perform other duties as assigned.

What we offer:
Competitive salary plus excellent benefits and perks including, but not limited to:
* Medical, Dental and Vision
* Company 401(k)and ESOP contribution
* Generous sick, vacation, and maternity/parental leave
* Paid holidays.
* Professional Development Opportunities
* Tuition Reimbursement ($15,000 lifetime cap)
* Discounted personal insurance including home, auto and recreational vehicles.
* Charitable gift-matching program
* Davidson Day of Giving - Our tradition of positively impacting communities in which we live and work.

The potential base pay hiring range for this role is $22.00 - $32.64. The compensation offered will be determined on a case-by-case basis considering a variety of factors including, but not limited to, the skills, relevant work experience, and geographic location of each specific candidate.

We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.