New Accounts Specialist

Avidbank; Redwood City (CA); Hybrid; USD 60,000 - 95,000; Full time

Job summary

A leading financial institution in Silicon Valley is seeking a New Accounts Specialist to enhance their client onboarding process. The role involves assisting clients in opening new accounts, maintaining compliance, and providing exceptional client services. Candidates should possess a high school diploma and have at least two years of relevant banking experience, focusing on client interactions, regulatory knowledge, and detailed record-keeping. Avidbank offers competitive compensation and a comprehensive benefits package to support employee well-being.

Benefits

Medical Insurance

Dental Insurance

Vision Insurance

401k with matching

Paid Time Off

Qualifications

• Minimum 2 years of experience in banking, preferably in accounts.
• Knowledge of KYC and AML regulations.
• Ability to work independently and collaboratively.

Responsibilities

• Opening new accounts and maintaining client records.
• Ensure compliance with KYC and AML policies.
• Provide high-quality service to business clients.

Skills

Client Service

Attention to Detail

Organizational Skills

Communication

Education

High School Diploma

Tools

Banking Software

Microsoft Office Suite

Job description

Avidbank is a $2.3 billion commercial bank based in Silicon Valley serving the San Francisco Bay area and across the country. We are a highly responsive business bank, providing tailored financial solutions. We are advocates for our clients and specialize in providing innovative banking products and supportive services that exceed our clients’ expectations.

Founded in 2003, we specialize in commercial & industrial lending, technology and asset-based lending, specialty finance, real estate construction and commercial real estate lending. We have one branch in San Jose along with loan production offices in Redwood City and San Francisco.

Title of position: New Accounts Specialist

Position type: Full Time, Non-Exempt

Salary: $60,000 – $95,000

Division: Operations

Work Location Type: Hybrid

Location: San Francisco, Redwood City or San Jose, CA

Job Summary:

The New Accounts Specialist is responsible for opening new accounts, maintenance of existing accounts and maintaining the Bank’s client records and ensuring compliance with the Bank’s new accounts Policy. This role involves working closely with Relationship Managers and Treasury Management, to onboard new and existing clients, collection and verification of documentation and ensuring all processes relating to the creation and maintenance of client records ensuring compliance with banking regulations, delivering exceptional client service.

Key Responsibilities:

• Assist clients in opening new accounts, ensuring all required documentation is complete, accurate and recorded.
• Verify business information and credentials to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) policies and regulations.
• Maintain detailed records of new accounts and client interactions.
• Provide high-quality service to business clients, addressing inquiries and resolving issues promptly.
• Process deposit operations related tasks such as address changes, stop payments, check orders and CD renewals.
• Follow up with clients to ensure satisfaction and to address any additional needs.
• Ensure all new account activities comply with relevant regulations, including BSA (Bank Secrecy Act), AML, and other federal and state laws.
• Stay updated on regulatory changes and implement necessary adjustments in the account opening process.
• Review colleagues work for accuracy and act as an escalation point for complex issues.
• Collaborate with other departments to facilitate seamless experience for the client.
• Ensure compliance with internal controls and contribute to the development of processes that minimize risk.

Qualifications and Skills:

• High School diploma or equivalent.
• Minimum of 2 years of experience in banking, preferably in a new accounts or business banking role.
• Knowledge of banking regulations, including KYC and AML requirements.
• Excellent client service and communication skills.
• Ability to work independently and as part of a team.
• Strong attention to detail and organizational skills.
• Proficiency in banking software and Microsoft Office Suite.

Physical Requirements:

• Prolonged periods of sitting at a desk and working on a computer.
• Must be able to lift 15 pounds at times.

Benefits

Avidbank offers full-time employees’ competitive compensation, medical, dental, vision, life insurance, long term disability insurance, 401k with matching, paid holidays and a competitive paid time off policy.

The wage range for this role takes into account the wide range of factors that are considered in making compensation decisions including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs. The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the position may be filled. It is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case.

Avidbank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

We are an AA/EEO/Veterans/Disabled employer.