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Cash Management Specialist

Company: Reading Co-Operative
Location: Reading
Posted on: May 26, 2023

Job Description:

POSITION SUMMARYReporting to the VP, Cash Management Officer, the Cash Management Specialist maintains a high level of expertise in the products and services designed for business clients. He/she serves as a resource to the bank and its clients by providing professional, courteous and efficient service to meet business customers' needs.The cash management specialist provides sales and technical support for business banking customers, including product recommendations appropriate for each prospective customer, business account documentation review, account analysis set ups; online banking entitlements; bill payment; account documentation and maintenance; electronic funds transfers; Merchant Services and Payroll. In addition, he/she is responsible for the timely completion of required training applicable to the position and regular and effective application of such training in the performance of the position. Finally, he/she provides problem resolutions to both internal and external customers in support of customer retention, satisfaction, and profitability objectives of the bank.ESSENTIAL DUTIES AND RESPONSIBILTIESWith direction from the VP Cash Management Officer, the cash management specialist works closely with lending, CDO's, and Retail to support strategic goals of loan and deposit growth.Recommend appropriate Cash Management products to prospective and existing customers that create or add value for the business customer, by identifying cost efficiencies, internal control enhancements and account management tools appropriate for each prospect.Be a champion of bank resources for business customers and liaison with IT, Operations, Retail, CDO's and commercial lending teams to ensure that customers have access to information and services in a timely and professional manner.Prepare pricing analysis and presentation materials and account documentation for underwriting.Provide ongoing training and technical support to business customers via webinar, telephone, and on-site visits for cash management services as this relates to Business Online Banking, ACH, Wires, Positive Pay, Remote Deposit Capture and ZSuites Products.Assist with monthly management reports for tracking all cash management activities.Participate in special projects related to business product offerings and ad-hoc reports for management.Undertakes sales calls - individually and/or with members of Retail, CDO's and Commercial Lending teams.Performs a variety of routine daily tasks; reviews reports, prepares correspondence, participates in special department projects etc.Report product, service and/or technology issues to CMO-recommend changes or improvements as required.Refers customers to wealth management, commercial lending, retail or other departments for cross-sell opportunities when appropriate.Responsible for imaging cash management packets into Identifi.Adheres to best practices with respect to avoiding corporate account takeover and cyber security threats.Assist with development, testing, implementation, and support of cash management products.Support ongoing sales programs that promote the Bank's cash management services.Build strong working relationships with internal staff to assist and manage successful outcomes.Support a strong sense of teamwork and collaboration with other internal support areas and with third party service providers.Be knowledgeable about industry trends and legislative changes affect cash management products and services.Ensure compliance with Bank policy and Federal and State Banking regulations including but not limited to Fair Lending, Customer Identification Programs, Bank Secrecy Act, and other applicable anti-money laundering policies.Performs all other duties as may be required.MINIMUM KNOWLEDGE, SKILLS, AND ABILITIES REQUIREDAssociate's degree or equivalent in business or related field of study or equivalent work experience required.Must possess excellent communications skills with the ability to listen, comprehend and recommend appropriate products and services to meet the client's business needs.Must possess a working knowledge of the organization documentation requirements for all business organization types, including but not limited to corporations, non-profits, trusts and partnerships.Knowledge of business deposit products and cash management services including but not limited to; online banking; remote deposit capture, Quicken/QuickBooks, ACH & Funds transfer, and Positive Pay.General working knowledge of business PC hardware, software, and office equipment to support client troubleshooting issues with the bank's IT helpdesk.Ability to organize and prioritize work and manage projects required.Proficiency in using Microsoft Word and Excel required.Knowledge in using Access and PowerPoint preferred.Technical knowledge of cash management related to computer programs, hardware and software is an advantageKnowledge of Federal regulations such as Reg D, Reg E, Reg J, CIP, OFAC, and others required.Knowledge of basic accounting concepts and internal controls preferred.Proven ability to multi-task.Strong analytical and organizational skillsAppreciation of the need for accuracy all the time.

Keywords: Reading Co-Operative, Somerville , Cash Management Specialist, Accounting, Auditing , Reading, Massachusetts

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