Banking Operations Associate

LeafLink; United States; On-site; USD 55,000 - 95,000; Full time

Benefits offered by this job

Flexible PTO

Stock options

Volunteer Time Off

401k

Health coverage

Commuter benefits

Job summary

LeafLink is seeking a Banking Operations Associate to support back-office cash processing for cannabis industry clients, ensuring accurate deposits and regulatory compliance. This role handles high-volume cash intake, reconciliation, and documentation with strict attention to detail.

Responsibilities span daily transaction processing, wire and ACH handling, and exception resolution, contributing to risk mitigation and audit readiness in a highly regulated environment.

Qualifications

• 2+ years of experience in bank operations, back-office processing, or a similar transaction-processing role.
• Hands-on experience with wire transfer processing (Fedwire/SWIFT) and ACH processing (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/wire systems (e.g., Fiserv, Jack Henry, FIS, or similar).
• Proficiency in Microsoft Excel and other Office applications.

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 (holds, suspense items, out-of-balance conditions, duplicate or rejected entries) within established timeframes.
• Serve as the primary escalation and inquiry point for the Customer Service team on 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 exams by providing transaction records, exception logs, and procedural documentation.
• Assist with month-end, quarter-end, and year-end processing and reporting as needed.

Skills

Wire transfers

ACH processing

BSA/AML

Reg E

Excel

Tools

Fiserv

Jack Henry

FIS

Job description

About LeafLink

LeafLink is the largest unified B2B cannabis platform, providing licensed cannabis businesses a suite of tools to manage their business more effectively, sell or order from their favorite brands and accelerate growth. We are one platform, one solution and we’re defining the way thousands of cannabis brands, distributors, and retailers streamline their operations. With thousands of brands and retailers across 30+ markets in North America, we are setting the industry standard for how cannabis businesses grow together. LeafLink processes more than $5 billion in wholesale cannabis orders annually.

Our team, backed by funding from leading VC's, including Founders Fund, Thrive Capital, Nosara Capital, and Lerer Hippeau is poised to define the cannabis supply chain through technology. LeafLink was named one of Inc. 5000’s ‘Top 5000 Fastest-Growing Private Companies’; one of Fast Company's 'Top 10 Most Innovative Companies in Enterprise for 2020', joining the ranks of Amazon, Slack, and VMWare; one of Built In NYC's 'Best Places to Work in 2021'; 2024 Fast Company’s Best WorkPlaces for Innovators for Banking, Finance, and Fintech category; 2024 Green Market Report Award for Best Fintech in cannabis - and we're just getting started!

The Role

Banking Operations Associate to support back-office operations for cannabis industry clients, ensuring accurate and compliant processing of cash deposits and related financial transactions. This role is responsible for handling high-volume cash intake, reconciliation, and documentation in accordance with banking regulations and internal compliance standards. This individual works behind the scenes to keep client accounts accurate and transactions moving smoothly, without direct client-facing responsibilities.

The ideal candidate combines strong attention to detail with a solid understanding of cash handling procedures, transaction reconciliation, and regulatory compliance in a highly regulated industry. This individual will play a critical role in operational accuracy, risk mitigation, and maintaining the integrity of Dama's cash processing workflows.

Key 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 (holds, suspense items, out-of-balance conditions, duplicate or rejected entries) within established timeframes.


• Serve as the primary escalation and inquiry point for the Customer Service team on 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 exams by providing transaction records, exception logs, and procedural documentation.


• Assist with month-end, quarter-end, and year-end processing and reporting as needed.

Qualifications

Required

• 2+ years of experience in bank operations, back office processing, or a similar transaction-processing role.


• Hands-on experience with wire transfer processing (Fedwire/SWIFT) and ACH processing (NACHA file formats, returns, and NOCs) strongly preferred.


• Working knowledge of BSA/AML, OFAC, and Regulation E requirements as they relate to payment processing.


• Experience with core banking platforms and payment/wire systems (e.g., Fiserv, Jack Henry, FIS, or similar).


• Proficiency in Microsoft Excel and other Office applications.

Preferred

• Strong attention to detail and accuracy under time-sensitive processing deadlines.


• Sound 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.

LeafLink Perks & Benefits

• Flexible PTO - you’re going to be working hard so enjoy time off with no cap!


• A robust stock option plan to give our employees a direct stake in LeafLink’s success


• 5 Days of Volunteer Time Off (VTO) - giving back is important to us and we want our employees to prioritize cultivating a better community


• Competitive compensation and 401k


• Comprehensive health coverage (medical, dental, vision)


• Commuter Benefits through our Flexible Spending Account

LeafLink’s employee-centric culture has earned us a coveted spot on BuiltInNYC’s Best Places to Work for in 2021 list. Learn more about LeafLink’s history and the path to our First Billion in Wholesale Cannabis Orders here.

• Discretion in handling confidential customer and financial information.


• Comfortable working independently as well as collaboratively within a team-based operations environment.

Base salary range

$55,000—$95,000 USD