Job Description
Job Type
Full-time
Description
About Bankwell:
Bankwell is a commercial bank with more than $3 billion in assets that serves the banking needs of businesses and individuals. At Bankwell, we pride ourselves on our unique ability to bring you high touch, high quality banking with the expertise and dedication of our experienced team of professionals. When it comes to business, our deep industry knowledge, flexibility and innovative treasury and financing services enable us to find the right solutions for our business and commercial clients. We’re passionate about giving back and are actively involved with many not-for-profit organizations that help shape and improve the lives of others. We’re dedicated to giving our time and talent to support the communities we serve. More about Bankwell can be found at www.mybankwell.com.
Requirements
• Oversee and execute daily payment transactions, including wire transfers, ACH, check and other electronic payments, ensuring accuracy and timeliness.
• Continuously monitor payment systems for any discrepancies or irregularities to maintain data integrity and transaction accuracy.
• Analyze and monitor payment data/trends to identify and mitigate operational risk exposure.
• Perform daily maintenance and monitoring of electronic services applications to ensure uninterrupted and accurate processing of payment transactions.
• Identify, analyze, and resolve transaction errors, including rejected or failed payments, to minimize operational disruptions.
• Ensure compliance with banking regulations, such as AML (Anti-Money Laundering) and KYC (Know Your Customer) requirements, to reduce legal and financial risks.
• Identify and mitigate potential risks related to fraud, operational errors, or regulatory breaches within payment processes.
• Analyze transaction data to identify trends, inefficiencies, or risks and provide actionable reports to management for strategic decision-making.
• Collaborate with customer service teams to resolve client inquiries about payments, escalating complex issues, as necessary.
• Conduct daily reconciliations to ensure transaction records align with bank ledgers and generate reports on payment operations for audit and management review.
• Perform daily processing of ACH reporting, ensuring all reports are accurate, complete, and submitted on time. Review existing payment procedures, suggest process improvements, and implement efficiency-enhancing changes to optimize performance.
• Maintain detailed records of transaction processing, issue resolutions, and process changes for audit and compliance purposes.
• Work with IT, Compliance, Risk, and Finance departments to address system improvements, troubleshoot issues, and maintain secure payment processes.
• Participate in testing of new payment system functionalities and enhancements, ensuring alignment with operational and regulatory requirements.
• Perform quality assurance testing on Wire, ACH, and RDC services to ensure functionality and compliance with bank policies and regulatory standards.
