Operations Specialist I

Operations Specialist I

MIB is a “bankers’ bank” which provides a wide array of correspondent banking services to approximately 500 financial institutions throughout the Midwest. Headquartered in Jefferson City, Missouri, MIB’s banking services are provided exclusively to financial institutions. www.mibanc.com

MIB’s family of companies:

  • Midwest Independent Bancshares, Inc.
  • Midwest Independent BankersBank
  • MIB Banc Services, LLC
  • First Bankers’ Banc Securities, Inc.

Job Description :

Primary responsibilities include the day-to-day administration of all safekeeping investments for respondent banks which include the processing of interest and principal payments and payment adjustments received by MIB for the benefit of customer banks, settlement of bonds purchased or sold, preparing safekeeping receipts and completing pledge and release requests. Responsibilities will also include assisting with the day-to-day administration of all domestic wire transfer and international services for respondent banks which include the processing of wire and currency requests for the benefit of customer banks, monitoring international cash letter transactions, SWIFT confirmations, and distributing files and reports received over FedLine to the appropriate individuals and systems.

This person must be highly organized, detail oriented, and possess communication skills with excellent telephone etiquette. This position requires analytical and computer skills while under close supervision of management. Specialist must apply their skills and job knowledge to adapt procedures, operations, techniques, tools, materials, and/or equipment to meet needs of the Safekeeping and wire transfer area. This staff level will refer most questions and problems to higher levels.

Primary Responsibilities :

Safekeeping Essential Duties and Responsibilities:

  • Act as a liaison between the Federal Reserve Bank, Fiserv, and other safekeeping agents on behalf of MIB respondent customers in order to facilitate safekeeping transactions.
  • Credit respondent bank accounts as payments are received on bonds safekept at MIB.
  • Credit/debit respondent bank accounts as adjustments to payments are received on bonds safekept at MIB.
  • Credit/debit respondent bank accounts as settlement of bonds are fulfilled over FedLine and BONY as directed by respondent banks.
  • Transfer securities over FedLine and BONY as directed by respondent banks.
  • Prepare receipts for new securities safekept at MIB.
  • Monitor pledge and release requests to ensure that they follow MIB practice.
  • Prepare receipts for securities requested to be pledged or released.
  • Prepare information requested by respondent banks to bank auditors and regulators.
  • Serve as back-up for MIB collateral maintenance.


Wire Transfer Essential Duties & Responsibilities:

  • Act as a liaison between the Federal Reserve Bank on behalf of MIB respondent customers in order to facilitate domestic wire transfer transactions.
  • Act as a liaison between all international agents and vendors used by MIB on behalf of MIB respondent customers in order to facilitate international transactions.
  • Process incoming domestic wires submitted via FedLine Direct/PayLogics.
  • Process and verify outgoing domestic wires submitted via CONTROL, facsimile, telephone, and on behalf of MIB and subsidiaries.
  • Process domestic coin and currency orders and large dollar return notifications.
  • Process international wire requests cash letter transactions and foreign currency orders/drafts submitted by respondent banks.
  • Process and verify after 4:30 p.m. domestic wires from previous business day.
  • Responsible for monitoring domestic wire transaction posting to Cardinal Core.
  • Responsible for posting international wires, foreign currency orders/drafts, and international cash letters to respondent bank accounts.
  • Responsible for performing OFAC scan on all wire transfers and providing OFAC log listings upon request and providing result documentation for all OFAC hits.
  • Responsible for reporting questionable transactions to the Compliance Manager before further execution of said transaction.
  • Responsible for balancing wire transfer transactions with Cardinal Core, PayLogics, and FedLine Direct.
  • Monitor SWIFT confirmations and messages related to processed international wires and provide correspondence.
  • Maintain and update international and domestic wire procedures.
  • Train associates on international and domestic services.
  • Serve as back-up in the Operations Department.
  • Actively seek improvements to operational processes and anticipate actions necessary by Operations in order to position the bank for future growth and addition of services.

Additional Duties:

  • Responsible for Bank Secrecy Act compliance where applicable in reference to this position.
  • Maintain and update procedures.
  • Serve as back-up in the Operations Department.

Competencies:

To perform the job successfully, an individual should demonstrate the following competencies to perform the essential functions of this position.
 

    • Analytical – the individual should possess the ability to review and interpret data and ascertain the relevant information contained therein.
    • Problem-solving – the individual identifies and resolves problems in a timely manner and gathers and analyzes information skillfully.
    • Oral communication – the individual speaks clearly and persuasively in positive and negative situations, demonstrates group presentation skills and participates in meetings.
    • Quality management – the individual looks for ways to improve and promote quality and demonstrates accuracy and thoroughness.
    • Judgment – the individual displays willingness to make timely transactional decisions in the service of customers and exhibits sound and accurate judgment.
    • Planning/organizing – the individual prioritizes and plans work activities, uses time efficiently.
    • Strong customer orientation.
    • Computer proficiency: Word, Excel and Power Point.
    • Excellent attention to detail.
    • Work well in a team environment.
    • Able to maintain confidential information.

Supervisory Responsibility:

  • This position has no supervisory responsibilities but may assist with the training of newly employed Safekeeping Specialist(s).

Other Duties:

  • Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Qualifications :

Education Level:     2 Year Degree

Required Education and Experience:

  • Associate or higher degree in business administration related field or two plus years of experience in banking.
  • Highly organized and detail oriented.
  • Strong customer service and communication skills.
  • Ability to work with a variety of computer software.
  • Analytical and computer skills.
  • Accounting background through course work or job experience.

More Information :

Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • Requires sitting, standing, bending and reaching. May require lifting up to 25 pounds. Requires manual dexterity sufficient to operate standard office machines such as computers, fax machine, calculators, the telephone and other office equipment. Requires normal range of hearing and vision.

Work Environment:

  • This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.

Position Type and Expected Hours of Work:

  • This is a full-time position.
  • Days and hours of work are Monday through Friday, 8:30 a.m. to 5:30 p.m. Flexible work schedules may be allowed when it is feasible, it allows the employee to perform the essential functions of the job and will in no way interfere with providing efficient and effective services.
  • Ability to work varied hours/days as business dictates

 
Time Requirements and Travel:

  • 100% Administrative/Organizational.

Company Info

: Jefferson City

Job Location

910 Weathered Rock Road PO Box 104180 Jefferson City, MO 65110

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