VP Payment Operations ACH IRA Leader

3 days ago


Needham, Massachusetts, United States Needham Bank Full time
Job Title: VP Payment Operations ACH IRA

Lead the Payment Operations, IRA and ACH team by executing projects and processes to improve and maintain operational efficiency, positive customer experience and process management for these areas including: ACH payments, positive pay, real-time payments, CD payments or transfers, set-up of IRA products including IRA W4P withholding elections and annual notice distributions. This position will perform, promote and support performance in all required functions of Deposit Operations including Payment Operations in accordance with regulatory compliance guidelines and collaborate with others to develop/maintain processes to control activities in these areas across the Bank. Build and executes strategic plans, provide a clear vision and expectations consistent with staff and identify opportunities to support strategic objectives as it relates to Payment Operations, IRA and ACH payments. Foster a client-centric culture that promotes teamwork, mutual respect, and operational excellence, while supporting other processes/initiatives in Deposit Operations, as assigned. Embrace continuous improvement, striving to enhance processes, procedures and product offerings to our customer base.

Key Responsibilities:
  • Lead, oversee and implementation of all directives, policies, procedures and changes in regulations pertaining to Deposit Operations for Payment Operations, ACH and IRAs. Continuously improve policies, procedures, and risk assessments - ensuring compliance with applicable state/federal regulations and industry rules/standards. Identify and implement controls to mitigate risk of new and/or existing products, solutions and services.
  • Ensure strong internal controls are sustained, remaining vigilant to potential issues or fraudulent transactions and meeting all required deadlines. Drive efforts to develop, sustain, and continuously improve Deposit Operations processes across the Bank.
  • Analyze data trends and implement improvements to keep data clean at the product levels.
  • Provide appropriate monitoring and verification of management reporting, as needed.
  • Serve as a resource and content expert for staff, providing them with guidance as needed, to deliver exceptional customer service, interacting with customers in a manner that fosters strong relationships, client retention, and business growth. Ensure the proper handling of client questions, issues, and disputes and are resolved in an excellent manner.
  • Develop and manage staff by setting goals, coaching, and providing feedback/encouragement to help colleagues grow professionally. Foster teamwork and cross-training of staff to support wires, payments and Deposit Operations functions and ensure the proper backup for personnel as necessary to expedite workflow.
  • Consistently seek opportunities to simplify documentation.
  • Manage the implementation of product and service enhancements related to your area. This includes monitoring upgrades and system change notifications, creating/maintaining detailed project plans, testing functionality and compliance with state and federal guidelines, and communicating upgrades/changes with appropriate Bank staff.
  • Lead outage management by controlling the situation, working with vendors, and engaging others needed to communicate outage situations. This includes being available during off hours if outages occur. Resolve issues and problems by conferring with staff, management and other internal departments, and outside contacts as necessary.
  • Build positive internal/external relationships through strong communications, problem solving, ownership, and follow-through.
  • Assist with tracking and managing the Deposit Operations budget, control costs, ensuring financial stability and profitability.
  • In partnership with our centralized Information Technology and Vendor Management groups, manage and monitor vendor activities/service-level agreements (SLAs) that support Deposit Operations
  • Perform additional duties as requested, needed or assigned
Requirements:
  • Strong leadership abilities and experience in Deposit Operations and payments
  • Highly motivated professional with the ability to handle multiple priorities and complete tasks/projects with stated deadlines
  • Self-motivated with strong organizational and time management skills and work independently
  • Superior customer service and problem-solving skills
  • Attention to detail, and the capability and drive to identify, analyze, and solve problems collaboratively
  • Demonstrated ability to foster teamwork and develop people.
  • Commitment to promoting high ethical standards and behaviors, and maintaining a professional manner at all times
  • Perform additional duties as requested/assigned within Deposit Operations
  • Adapt and help others manage change
  • Polished written and verbal communication skills; fluency in English
  • Strong computer and technical skills
  • Ability to adhere to Needham Bank's Core Values (Focus on Customer Relationship, Embrace Change, Work as a Team, Be an Asset to Your Community, Always Learn, and Do the Right Thing)
  • Access to reliable transportation
Education & Experience:
  • Bachelor's degree highly desired, or equivalent experience
  • Seven to 10 years of banking experience and worked in a management position
  • A minimum of five years of supervisory experience
  • Strong background in bank operating policies and procedures, banking regulations (state and federal), and uniform commercial code (UCC) including requirements related to Wire Transfer Operations
Working Conditions/Physical Demands:
  • Normal business office environment

Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.

At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn't align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.

Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.



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