Manager, Deposits and Remittances

MUFG Canada; Toronto; On-site; CAD 90,000 - 120,000; Full time

Job summary

A leading financial services firm in Toronto is seeking a Manager for Deposit and Remittance operations. The role involves overseeing daily operations, ensuring compliance with regulatory standards, and managing staff performance. The ideal candidate has at least 7 years of bank experience, with strong skills in compliance management and problem-solving. This full-time position offers the opportunity to make a significant impact in a dynamic environment.

Qualifications

• Minimum 7 years of experience in a bank, with at least 5 years in Deposit and Remittance Operations.
• Excellent analytical skills with strong attention to detail.
• Thorough knowledge of SWIFT and Payments Canada rules.

Responsibilities

• Manage day-to-day operations of Deposit and Remittance functions.
• Lead daily activities ensuring compliance with policies and procedures.
• Prepare staff performance reviews and coaching plans.

Skills

Compliance Management

Analytical Problem Solving

Interpersonal Communication

Customer Service

Negotiation Skills

Education

Bachelor's degree or diploma in Business

Tools

Excel

PowerPoint

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 worlds leading financial groups. Across the globe were 120000 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 worlds most trusted financial group its 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 Banks 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 Banks 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 Banks 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 units 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 Banks 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 agencys rules relating to area of operation and monitor changes originating from the banks 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 KPIs (SLAQuality 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

Bachelors 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.

Required Experience :

Manager

Key Skills

Compliance Management,Administrative Functions,Oversight,Administrative Activities,Administrative Tasks,Budget Preparation,Facilities Management,Daily Operations,Account Management,General Ledger Accounts,Personnel Files,Administrative Management,Financial Statements,Administrative Operations,Annual Budget

Employment Type : Full-Time

Experience : years

Vacancy : 1