Manager, Clearing and Wires

at  DUCA Financial Services Credit Union Ltd

WHY DUCA?

We’re a vibrant, exciting credit union that lives its “profits with a purpose” philosophy in every financial transaction, product, interest rate, and community initiative we offer. Founded in 1954, DUCA has grown from a single branch credit union in Toronto to 19 branches across Southern Ontario with over 85,000 Members we are proud to serve.
We exist to help People, Businesses and Communities Do More, Be More, and Achieve More™.

DUCA (www.duca.com) is the fastest organically growing large Credit Union in Canada distinguished for the following:

• Positive, un-big bank like service experience delivered through Member-facing staff in branch, on the phone (Member-Connect) and via our Mobile mortgage specialists, Wealth Management advisors and Commercial and Business Banking Account Managers.
• Competitive rates.
• Personalized financial solutions, guidance, and service with the lowest possible fees for both Personal and Business Members.
• Profit sharing among Members.
• Multiple ways to bank—online, mobile app, phone/full-service Member Connect Contact Centre, and, of course, in-branch—DUCA is accessible 24/7
• A community philosophy of “profits with a purpose” culminating in the creation of the DUCA Impact Lab (www.ducaimpactlab.com), a charitable foundation committed to helping the credit challenged and underbanked. This led to DUCA’s designation as a B-Corp certified organization, the first ever credit union to receive this global recognition.

A career with one of Canada’s fastest growing credit unions means you’ll find endless opportunities to make a difference with your unique abilities and perspectives. Our people live their purpose while helping others Do more, Be more and Achieve more with their money and their lives. At DUCA, you’ll be part of a vibrant and collaborative team where you’ll be supported to excel and make an impact, no matter what role you play.

OCCUPATIONAL EXPERIENCE & EDUCATION REQUIREMENTS

• Undergraduate degree in Business, Accounting, Finance or related discipline, or combination of education and equivalent experience.
• 5+ years working in a high-volume clearing and wires environment.
• 1-2 years’ experience managing a team, with responsibility for the full range of people management activities.
• Experience leading or managing a wires and / or clearing function
• Experience with mergers / acquisitions, systems integrations, and conversions, an asset.

KNOWLEDGE, SKILLS & ATTRIBUTES

• Demonstrated ability to take initiative and work independently while exercising mature judgment and decision-making skills.
• Strong customer service orientation with the ability to build relationships across the organization.
• Strong knowledge of Payments Canada Rules.
• Strong knowledge of Fiserv’s DNA core banking system.
• Critical thinking, analytical and problem-solving skills with the ability to reconcile data, identify root causes of problems, recommend approaches, and determine potential solutions.
• Excellent written, verbal, and interpersonal skills.
• Process oriented and possess a continuous improvement mindset with demonstrated experience in process improvements and delivering business efficiencies.
• Strong leadership skills and the ability to work in a dynamic team environment with tact and diplomacy.
• High level of integrity, ethics, and professionalism with the demonstrated ability to ensure confidentiality and protection of Member data and other sensitive information.
• Highly proficient with Microsoft Project and the full suite of Microsoft Office applications, including advanced proficiency in Excel with the ability to produce high-quality, user-friendly reports.
• Ability to resolve Member complaints and respond appropriately.
• A proactive, self-manager able to work on multiple initiatives at the same time and manage to commitments and deadlines,

JOB PURPOSE & SUMMARY

The Manager of Clearing and Wires leads the team responsible for delivering operations related to clearing administration and wire processing while ensuring all regulatory rules are met. This position will manage clearing and wires related transactions and associated risk, and ensure all activities are delivered in compliance with associated industry and internal standards.
Additionally, this position will develop, document, and assess the controls and systems used, troubleshoot issues, and provide technical expertise and guidance for both internal and external stakeholders. This position also identifies areas where automation or efficiencies are possible and implements changes to processes, forms, and workflows as needed.

KEY ACCOUNTABILITIES & DUTIES

• Lead and develop the Clearing & Wires team including hiring, training, coaching, and all other aspects of people management and development, in a manner that results in high levels of employee engagement.
• Stay current on product and reporting related regulatory requirements and recommend and implement policy, process, and procedure changes to ensure compliance.
• Oversee the clearing and wires operations and processes related to:
• processing and balancing daily electronic fund transfer (EFT) and cheque clearing files
• processing rejected bill payments and Member requested bill payment traces/recalls
• ATM exchange adjustments and responding to RFIs.
• Exchange Network daily reconciliation, adjustments and inquiries
• M2M daily reconciliation, adjustments and inquiries.
• E-transfers daily reconciliation, adjustments and inquiries
• Remote deposit daily reconciliation and inquiries
• Wire processing with BMO and Central 1, ensuring all items are compliant within regulatory requirements, initiating traces and recalls, and reviewing Corporate account balances to ensure sufficient funds are always available.
• Ensure balance sheets are fully completed and address any outage promptly.
• Manage all internal and external reporting requirements; produce regular and ad-hoc reports.
• Act as the lead for all internal and external audits related to clearing and wires transactions.
• Identify, research, recommend, and implement new or enhanced procedures, systems, and workflows to improve operational effectiveness that support business needs.
• Provide subject matter expertise, and advice and guidance to Member-facing employees.
• Identify skill and knowledge gaps that need to be addressed through performance management, coaching, training, and/or business process and procedure development.
• Respond to, and lead the department’s response to, clearing and wires questions, queries and problems from internal clients across DUCA.
• Develop, implement, and produce reports that provide channel and product sales leaders with insights that enable them to coach their teams to maximize product sales and fee income, and to minimize Member experience issues and revenue leakage.