Charles Schwab Senior Manager, Bank Operations Payment Processing in Phoenix, Arizona
We believe that , when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.
As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.
Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies. The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities. The integrated banking and brokerage services represent the strong value proposition we offer our clients.
Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products. In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 12th largest bank in the United States. Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location. Consistent with the brand, we offer exceptional client experience.
The Sr. Manager, Bank Operations Payment Processing is responsible for the performance and monitoring of daily Bank operations, with a focus on transaction processing, monetary adjustments, handling escalations from client facing reps, and GL reconciliation. The Sr. Manager, Bank Operations Payment Processing functions both as a subject matter expert on all deposit, OCL, and PAL product escalations while supporting process improvement projects to improve operational efficiency, improve the client experience, and manage risk. The Sr. Manager, Bank Operations Payment Processing assures compliance with all Bank policies and procedures, as well as all applicable state and federal Bank regulations in the context of their responsibilities. The role is able to function as lead for all complex issues revolving around the bank’s transaction processing and financial impact to client accounts.
Charles Schwab Bank follows the three lines of defense model of risk governance. The Sr. Manager, Bank Operations Payment Processing is a first line of defense position for Charles Schwab Bank and assures compliance with all Bank policies and procedures, as well as all applicable state and federal Bank regulations in the context of their responsibilities
What you’ll do:
Manage client account and internal bank account adjustments process
Process all monetary adjustments to client accounts and internal General Ledger Accounts following established procedures and controls
Adhere to established service level problem resolution timeframes
Establish relationships with Federal Reserve Bank and other critical Bank vendors to resolve system issues quickly.
Manage General Ledger account balancing processes
Work with Asset Recon department, Bank Accounting and 23b partners to balance Bank General Ledger accounts.
Investigate and resolve complex transaction processing issues
Review daily settlement report and assist in researching and resolving out of balance conditions supporting the reconciliation of transactions between the Bank and the Brokerage.
Resolve accounting issues escalated from internal Bank and Brokerage departments
As necessary, provide a forensic investigation into the cause of the issue
Implement and document resolution
Communicate results to appropriate internal Bank or Brokerage departments
Develop solid working relationships with client-focused operations departments at both Bank and Brokerage
Perform quarterly reconciliation of Bank check accounts
Oversee the Check and Automated Clearing House (ACH) reconciliation process
Ensure all Checks and ACH transactions are processed within required service quality and regulatory timeframes
Design, create and generate reports to respond to audit findings, ad hoc report requests and to monitor activities of 23B partners
Assist in developing and maintaining processes for monitoring activities performed by 23B partners to ensure compliance with bank policies and procedures
Develop reports for monitoring processes and activities identified in audit findings
Develop and run ad hoc reports using DataQwik or Business Objects
Provide Subject Matter Expertise (SME) support on project teams and user community forums
Represent bank transaction processing and reconciliation in bank projects
Manage client fraud recovery process
Work with Deposits and Payments Risk Management and FP&I to recover lost funds
Train team members on issue evaluation and resolution processes
Develop and review procedures and ensure procedures are consistently kept up to date
Serve as the final point of escalation for all Schwab Bank transaction processing and money movement related issues.
Support all Bank Operations processes and projects as necessary to maintain high quality service and build teamwork
What you have:
7+ years payment processing experience
At least 1-2 years general ledger accounting experience
Minimum of 3 years of leadership experience
Exceptional critical thinking, problem solving and analytical skills
Familiarity with Schwab’s product functionality and Schwab’s Bank systems and interfaces
Self-starter with excellent time management skills. Must be able to work with minimal supervision
Strong data management skills and the ability to organize and manage multiple priorities
Ability to work across organizational boundaries and build strong partnerships
Ability to make quick decisions in fast-paced environment
Solid knowledge of bank regulations, policies, and procedures
Excellent verbal and written communications skills
Strong knowledge of Microsoft Office
AAP and NCP strongly preferred
You demonstrate these behaviors:
Results Orientation: Focusing on the desired end result of one’s own or one’s units work; setting challenging goals, focusing effort on the goals, and meeting or exceeding them.
Initiative: Identifying what needs to be done and doing it before being asked to or required by the situation.
Thoroughness: Ensuring that one’s own and other’s work and information are complete and accurate; careful preparation for meetings and presentations; following up with others to ensure that agreements and commitments have been fulfilled.
Building Collaborative Relationships: The ability to develop, maintain, and strengthen partnerships with others inside or outside of the organization who can provide information, assistance and support.
What you’ll get:
Everyday Wellness: Healthy Rewards, Onsite Fitness Classes, Healthy Choices, Wellness Champions
Financial Fitness: 401k Match, Employee Discounts, Personalized advice, Brokerage discounts
Work/Life Balance: Sabbatical, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer
Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships
Not just a job, but a career, with an opportunity to do the best work of your life
Learn more about Life@Schwab at http://www.aboutschwab.com/careers/lifeatschwab/" .
Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law.
Position Located In: AZ - Phoenix