Administer the daily operational activity of the Correspondent Banking department. Manage the daily cash position for all correspondent banks. Provide excellent customer service and support.
Perform daily balancing functions for correspondent customers such as: general ledger balancing, wire transfers, currency & coin, processing daily entries, safekeeping transactions, updating pledged securities positions, problem research and resolution. Coordinate overnight investment decisions, including “as Principal,” “as Agent,” Excess Balance Account and Borrowed Fed Fund investments. Ensuring all Bank policies and procedures are followed.
Completion of domestic and foreign wire transfer requests in accordance with bank policy and procedures governing wire transfer operations, utilizing multiple wire transfer systems. To include, but not limited to:
Receiving internal and external wire transfer requests and completion of Wire Transfer Request Form when necessary.
Verification that all information on outgoing wire transfers is accurate
Perform OFAC screening on incoming and outgoing wires according to established procedures.
Perform “callback” verifications when required on outgoing wires.
Process appropriate entries on incoming and outgoing wires in an accurate and timely manner.
Create and maintain Personal Identification Number (PIN) authority list according to wire transfer agreements for correspondent banking and QCRH commercial customers.
Perform operational functions associated with all safekeeping customers. Including, but not limited to:
Set-up all new safekeeping relationship in the various on-line safekeeping applications.
Working directly with the correspondent bank customer and third party safekeeping vendor, ensures security transfers are completed in an accurate and timely manner.
Assist all current and new safekeeping with inquiries.
Research safekeeping discrepancies of downstream correspondent banks.
Meet all critical deadlines as dictated by upstream correspondent banks, system-related cut-offs, downstream correspondent bank expectations, etc., paying close attention to details and accuracy on all transactions.
Assist with preparation of monthly correspondent reports, as well as researching trends and anomalies to ensure accuracy of reporting.
Serve as back up to the AVP, Funds Management Officer. Including, but not limited to:
Monitor and maintain FRB Balance, as well as account balances at other upstream correspondent banks.
Purchasing and Selling Fed Funds from/to upstream correspondent relationships to maintain balance requirements.
Communicate with management regarding account positions and any funding concerns.
Collaborate on the development and maintenance of policies and procedures within the Correspondent Banking Department. Focusing on continually improving processes and automating daily procedures as applicable. Promote using technology available to QCBT whenever possible.
Maintain a working knowledge of the financial industry, product offerings and current issues that impact our correspondent banks and the services they require to be delivered by their upstream relationship at QCBT.
Maintain a professional relationship with all bank customers.
Work closely with all departments to create a positive team player environment.
Perform various other banking functions, both routine and non-routine in nature.
High school diploma plus two years of banking experience in banking operations or related area required. Experience in Security Settlement and Trust Accounting Systems preferred.
Excellent oral and written communication skills required.
Advance PC knowledge with emphasis on Microsoft Excel and Word.
Must be a self-starter and be able to work independently.
Accuracy and attention to detail required.
About Quad City Bank & Trust
At Quad City Bank & Trust and QCR Holdings, we've developed a powerful corporate culture, one that's evident in every facet of our organization. It's based on the common goal of providing exceptional, personal service and built on the core values of teamwork, mutual respect, and honesty. There are no greater assets than our employees and it shows in our work environment, community focus, employee programs, and benefits.
As a community-focused bank, one of our goals is to positively influence the Quad City area. At Quad City Bank & Trust, we go one step further than accepting community service. We promote it, support it, and recognize the impact our employees make in the community through the CARE Program. Employees are encouraged to volunteer during or after business hours for any number of community based organizations. Each employee submits their volunteer activities, which is included in their employee file and recognized during their annual review.
Each year, Quad City Bank & Trust hosts a number of employee events. The only objectives are fun and fellowship. In addition, each spring employees gather for a company-wide annual retreat. The day away from the office promotes discussion on many topics and features fun team-building exercises.