Manager, Deposits and Remittances

MUFG Americas; Toronto; On-site; CAD 70,000 - 90,000; Full time

Job summary

MUFG Americas is seeking a Manager of Deposit and Remittance Operations to lead day-to-day operations. The ideal candidate will have significant banking experience, strong analytical skills, and thorough knowledge of compliance and regulatory requirements. This role demands effective communication and team leadership abilities to ensure operational efficiency and exceptional customer service.

Qualifications

• Minimum 7 years of experience in a Bank, 5 years in Deposit and Remittance Operations.
• Excellent interpersonal and communication skills.
• Thorough knowledge of SWIFT and Payments Canada rules.

Responsibilities

• Manage day to day operations of Deposit and Remittance.
• Lead activities of MTD ensuring compliance with policies.
• Prepare daily and periodic reports related to operations.

Skills

Communication

Analyse

Résolution de problèmes

Service client

Négociation

Education

Bachelor’s degree or diploma in Business

Tools

Excel

PowerPoint

Word

Access

MS Projects

Job description

Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

The primary responsibility of the incumbent in this position is to manage the day to day operations of Deposit and Remittance operations, clearing and settlement functions, reconciliation of electronic and manual payments and related administrative activity, filing of regulatory reports, support the testing for products and system changes, maintain procedures and staff performance management.

RESPONSIBILITIES

Operations and Control

Lead and oversee the daily activities of MTD ensuring accuracy of processing and ongoing compliance with Bank’s policies and procedures.

• Lead, guide, direct and evaluate the work and performance of MTD Specialists and the assignment of staff duties and responsibilities.

• Timely resolution of any issues or problems impacting or having the potential to impact processing, compliance or service delivery to clients.

• Pro-actively work to prevent problems, and if and when they occur, conduct root cause analysis and develop and oversee the implementation of counter measures including identifying and recommending changes in procedures or enhancement of controls

• Recruit, train and develop staff and promote a positive work environment. Formulate effective training and cross training plans to ensure that all staff are fully proficient in their role and adequate staff coverage during peak processing periods. • Make recommendations to VP MTD for system enhancements; improve productivity and efficiency of Deposits and Remittance area of the Bank.

• Troubleshoot problems and issues in close consultation with VP MTD.

• Prepare staff performance reviews, coaching and staff development plans.

• Prepare daily, monthly and periodic reports and participate in Bank’s Risk and Compliance related projects and initiatives.

• Perform other related duties as required and assigned.

• Verify, approve and manage day to day processing of SWIFT incoming, outgoing and book transfer payments and messages in GPF and SAMH systems in accordance with Bank’s policies and procedures.

• Custodian of wireroom for the Bank including maintenance of RMA with Banks

• Handle end of day processes, Nostro and GL reconciliations relating to remittance and deposits operation.

• Handle payment investigations for wires and AFTs

• Verify and approve Term Deposit transactions processing

• Signing and reconciling of Bank Cheques and verifying all incoming customer cheques, Approving Lockbox, NDDS deposits.

• Key/vault custodian

• Collecting, collating, and presenting data on all aspects of MTD operations such as volumes, workload spread, customer error rates etc.

• Management of customer Account opening, maintenance and closing, including inactive and dormant account processing.

• Monitor end of day account balances and resolve/escalate as necessary

• Acts as an escalation person to staff to provide guidance on timely resolution of any issues or problems impacting unit's performance.

Client Experience

• Maintain high level of customer service, support and coordinate with Front Office, Treasury, Loans, Finance, ITD and Transaction Banking for enhancing automation and improving Bank’s business.

• Contact high-level customers to obtain/confirm instructions and respond to queries

• Act as a focal point of contact to Front Office for MTD operations related matters and queries.

• Handle transmission of customer statements, billing statements tax slips etc.

Regulatory & Compliance

• Handle the filing of regulatory reports relating to the area of operation in timely manner and with utmost accuracy.

• Maintain knowledge of Bank of Canada, OSFI, Payments Canada, FINTRAC and other regulatory agency’s rules relating to area of operation and monitor changes originating from the bank's Clearing Agent to facilitate pro-active planning for any changes to processes and systems.

• Manage FINTRAC message repair and reporting through vendor system.

• Verify and submit Large Cash Transaction Reports to FINTRAC

• Respond to Compliance requests in a timely manner and other ad hoc requests received from other units.

• Update manuals and Job Aids with any changes in the procedures and systems.

• Perform QA on all regulatory reporting activity on regular basis.

• Ensure operational risks associated with payment flows are properly documented, managed and mitigated

Project Related:

• Lead UAT for system enhancements, train staff and update procedures and Job Aids.

• Participate in testing as required by for a variety of projects (e.g. Disaster Recovery Exercises, Term Deposit function overhaul, ISO 20022 migration etc.)

• Develop Excel spreadsheets and macros for daily use to improve efficiency and accuracy.

• Manage seamless transition of Operations between sites (e.g. Disaster Recovery, Office relocation etc).

• Monitor and lead initiatives to drive Operational efficiency KPI's (SLA,Quality, Productivity)

Coaching/ Team Development:

• Lead, guide, direct and evaluate the work and performance of team members and the assignment of staff duties and responsibilities.

• Evaluate staff performance, deliver positive and/or negative feedback, and addressing any shortcomings

REQUIREMENTS

• Bachelor’s degree or diploma in Business with strong accounting skills.

• Then ideal candidate should have minimum 7 years of experience in a Bank out of which at least 5 years in Deposit and Remittance Operations area preferably in supervisory capacity. • Excellent interpersonal, communication, customer service, negotiation skills with strong emphasis on compliance.

• Excellent analytical, problem solving skills with strong attention to details.

• Thorough knowledge of SWIFT and Payments Canada rules relating to cheques and EFT payment systems

• Thorough knowledge of Canadian rules and regulations for Deposit operations and products

• Excellent knowledge of Excel, PowerPoint, word with working knowledge of Access and MS Projects.

• Sound knowledge of global payment systems, especially the ones relevant to major global currencies.

The job description and related application pertains to an opportunity with either MUFG Bank, Ltd., Canada Branch (“MUFG Bank Canada”) or MUFG Securities (Canada), Ltd. (“MUFG Securities Canada”). The job description relates to the general nature, scope, quantity and quality of work contemplated for the position. Other duties and responsibilities not specifically described may be assigned from time to time, consistent with knowledge, skills and abilities of the incumbent. The receipt of an application by either MUFG Bank Canada or MUFG Securities Canada, as applicable, does not imply or guarantee employment. Each of MUFG Bank Canada and MUFG Securities Canada is an equal opportunity employer. • As a federally regulated entity, MUFG Bank Canada is required to comply with applicable laws which prohibit discrimination based on protected grounds and which require accommodation to individuals in accordance with the requirements outlined in the Canadian Human Rights Act and the Canada Labour Code. Where MUFG Bank Canada obtains information relating to protected grounds under the Canadian Human Rights Act as part of the application process, it does so to monitor and otherwise evaluate its own compliance with such legislation and associated regulatory requirements; MUFG Bank Canada does not use such information for decision making purposes relating to the position contemplated in this application. • As a provincially regulated entity, MUFG Securities Canada is required to comply with applicable laws which prohibit discrimination based on protected grounds and which require accommodation to individuals in accordance with the requirements outlined in the Human Rights Code (Ontario) and the Employment Standards Act (Ontario). Where MUFG Securities Canada obtains information relating to protected grounds under the Human Rights Code (Ontario) as part of the application process, it does so to monitor and otherwise evaluate its own compliance with such legislation and associated regulatory requirements; MUFG Securities Canada does not use such information for decision making purposes relating to the position contemplated in this application.