Specialist III, Cash Balance
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POST DATE 8/17/2016
END DATE 10/19/2016
Santa Monica, CA
JOB DESCRIPTIONOverview: About CIT
CIT (NYSE: CIT) was born in 1908 when Henry Ittleson found a new way to make financing available to businesses in St. Louis, Missouri. Soon CIT was forging paths across the country, into Canada and overseas. But time and experience have produced innovations unimagined a century ago. True to its pioneering legacy, CIT remains an agent of opportunity, providing new resources and fresh perspectives to over one million clients across thirty industries around the globe.
CIT is a financial holding company. It provides financing, leasing and advisory services principally to middle market companies across more than 30 industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.
For more than 100 years, CIT has steadily innovated, providing carefully tailored financing solutions to meet the needs of a changing global economy. Along the way, CIT continually redefined what it means to be a financing partner, providing ideas as well as capital to build businesses - and relationships - that have endured for decades.
* Log and balance Savings Bonds and Canadian items received from the branches per ECM and g/l postings. Forward U.S funds $5000.00+ and non U.S. Funds Canadian Items to Exceptions and Accounting unit for collection
* Respond to ECM cases upon receipt and notify the branches immediately for non- receipt of the items
* Process the redeemed Savings Bonds in the SBD Wizard system and validate the redemption value/amount posted into the g/l account is accurate. Print the bond inventory report
* Research and resolve amount discrepancies and process adjustment entry as appropriate
* Using the FRB Check Services website, prepare cash letter presentments
* Using the UPS website, enter the information necessary for the shipment of the Savings Bonds and Canadian cash letters to the appropriate Federal Reserve Bank office
* Perform research and resolve adjustments posted to the POD suspense g/l account
* Perform daily and monthly verification and certification of relevant general ledger accounts
* Prepare and submit monthly adjustment write-off waivers when necessary
* Maintain organize records of related transactions
* Maintain accurate and legible production logs
* Meet established research productivity and quality/timeliness rating in accordance with the unit's production standards
* Perform related duties and special projects as assigned
* Minimum of two (2) years commercial banking experience with emphasis in back office operations as Adjustment and Research investigator
* High School diploma or GED required
* Excellent knowledge of the Federal Reserve Bank Rules and Regulations
* Basic knowledge of Image Cash Letter (ICL) presentment, settlement (Check 21), and Federal Reserve Fedline Adjustment Sytetm.
* Basic knowledge and understanding of the Viewpointe Settlement System
* Ability to analyze and understand the components of item processing and determine the foregone conclusion of the investigation for resolution of exceptions
* General Ledger balancing.
* Excellent written and verbal communication skills
* Exp. with business standard size calculator (ten keys) by touch
* Excellent knowledge of MS software programs Excel and Word
* Detail oriented, excellent organizational and time management skills
* Ability to maintain effective working relationships with all levels of Bank Personnel, clients and business associates
* PREFERRED: Proficient knowledge and understanding of the bank's systems/programs such as FIS Teller Insight, Branch Capture, etc.