Bank Reconciliation Manager - Hybrid/Remote - First American Bank

First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.

This Reconciliation Manager oversees the overall management of the Reconciliation Department by providing leadership, support, and strategic direction. This individual is responsible for the planning, goal setting, and executing business objectives. In addition, directly managing the Reconciliation Assistant Manager and indirectly managing the Reconciliation Specialists.

DUTIES & RESPONSIBILITES

• Oversee the overall productivity of the Reconciliation Department, ensuring department standards, objectives, and obligations are completed according to policies, procedures, and regulatory requirements in an efficient manner. Lead initiatives for the Reconciliation Department to accomplish goals and objectives efficiently and effectively.
• Lead, mentor, and directly manage the Reconciliation Assistant Manager. Assist with employee hiring, training, staff development, scheduling, and direct assistance with coverage of daily workloads when needed. Monitor work standards and adherence to company policies.
• Proactively deliver feedback to the Reconciliation Assistant Manager to promote staff development. Provide guidance on performance evaluations and disciplinary actions.
• Manage and perform department audits to satisfy regulatory requirements. Develop and implement controls to resolve audit findings and update policies and procedures, as needed. Train staff on new processes to resolve audit findings.
• Identify and implement opportunities for operational efficiency to streamline processes. Utilize automation technologies to maximize departmental productivity.
• Research and resolve complex escalated customer inquiries by exercising judgement to assess and effectively manage all risks associated with complex issues. Collaborate with internal business units, as needed. Effectively communicate information and requirements to clients in a way that can be easily understood by individuals who are not in the business.
• Leverage industry awareness, knowledge of regulatory expectations, and expertise to interpret NACHA Operating Rules and guidelines and Federal Reserve and ACH regulations. Monitor effective dates of changes to regulations. Develop and implement action plans to maintain the bank in compliance.
• Serve as the Subject Matter Expert (SME) for changes to regulations, identifying the impact of the regulations on the bank and communicating changes to internal stakeholders. Develop, implement, analyze, and update procedures and policies for the department in accordance with FRB regulations.
• Ensure compliance by developing and delivering training sessions and materials to efficiently and comprehensively educate new and existing employees to mitigate risk for the bank and maximize departmental efficiency. Monitor effective dates of changes to regulations. Develop and implement action plans to maintain the bank in compliance.
• The incumbent must have a strong understanding of ACH NACHA rules and Regulations and Serve as a primary point of contact for all aspects of ACH. Responsible for reconciling of ACHs, Correspondent Banks, Unclaimed Property, Backup
• Withholding, IOTA/IOLTA, IBRETA, Reclamations, and Various Internal General Ledger Accounts Reconciliation.
• Maintain knowledge of all functions and processes performed in the department.
• Provide guidance with Collections, Cash Letter Adjustments, Positive Pay Balancing, Various Settlement Accounts Reconcilement, General Ledger Unposted Items, General Ledger Force Balance Account, Various ATM Accounts Reconcilements, Mutual Fund Account Balance Verification, Credit Card Payment Collections, Chargebacks, Outgoing Returns, Reclamations, Zelle Disputes Processing and any additional or new functions added to the department. Serve as a backup when needed.
• Participate in management meetings, First American Bank wide projects, trainings, and conferences pertinent to area of responsibility.
• Conduct and complete additional assignments/projects as designated by management.

QUALIFICATIONS

• High school diploma or equivalent required. Bachelor’s degree preferred.
• Minimum five years of banking reconciliation required.
• Previous experience in management with a demonstrated ability to lead and coach is required.
• Possess superior organizational skills, proven multitasking ability, and analytical skills with high attention to detail and accuracy.
• Must be able to handle multiple tasks and work well under pressure with minimum supervision.
• Must be professional, comfortable speaking with external and internal contacts with a demonstrated ability to tailor the message appropriately to the audience and situation effectively.
• Demonstrated ability to convey thoughts and ideas effectively and succinctly via written formats, including emails, letters, and electronic platforms. Maintain professional standards relating to spelling and grammar.
• Maintain credibility through professional demeanor, appearance, and presence by modeling standards appropriate to our environment and industry.
• Maintain good working relationships with internal partners by exhibiting exemplary interpersonal skills, adopting a constructive, solutions focused approach.
• Use sound professional judgment to balance the interests of the organization and customer, understanding and using available resources to mitigate risks.
• Proficiency with Microsoft 365 products, Power Bi and applications, including the ability to effectively prepare or review documents, procedures, and reports.
• Demonstrate the ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows as a result of system upgrades.
• Occasional travel to other First American Bank locations, Bank functions, and training facilities may be required.
• Typical schedule is Monday through Friday 8:00 a.m. to 5:00 p.m. Additional hours may be required depending upon business need.
• Punctuality is required to maintain First American Bank’s customer service standards.