Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices.

SUMMARY: To provide support for banking personnel and customers for Deposit & Payment Operations related issues and inquiries. Perform all necessary verification of customer Deposit & Payment account setup and maintenance performed by Bank personnel. Ensure compliance with Deposit & Payment Operations related banking laws and regulations as defined in bank policies and procedures pertinent to position. Understanding that all divisions of the company work together for one common purpose – to deliver a consistent and distinctive customer experience to all customers.

ESSENTIAL DUTIES

ACH Processing and Monitoring

• Pep+ onboarding of customers for cash management originations
• Pep + Monitor originations
• Pep+ Set up and monitoring of debit blocks and filters
• Pep+ Set up and monitor risk limits
• Pep+ process ACH from all collection points multiple times a day
• Pep+ Tracking and creation of ACH annual report
• Pep+ Maintain and update runbook and process flow documents
• Process ACH revocations and ACH stop payment requests and return any unauthorized ACH entries.
• Process Government Reclamations such as SSI/SSA, VA or CSA benefits and begin collections efforts for any accounts with insufficient funds to process the reclamation.
• Process ACH returns from other banks.
• Prepare and maintain the Reg E ACH log and process all customer claims of fraud or error on ACH transactions and resolve in timely, professional and compliant manner.

Wire Processing

• Process all incoming wires and release all outgoing domestic and foreign wire transfers. Monitor wire queues (reject, BSA/AML, OFAC Reject) and correct/follow up with departments for items which need further review.
• Work with BSA to clear fraud suspect wires or OFAC suspects. Ensure compliance with all regulations pertaining to wire processing.
• Work with Fraud team in instances of wire fraud and recoveries.
• Maintain current knowledge on all regulations which pertain to creation and processing of domestic and foreign wires. If needed, work with the Compliance Dept. to assist in the notification to business lines impacted by regulation changes.
• Maintain wire processing Runbook
• Assist with review of wire Risk Assessment
• Assist with the creation of wire volume reporting to ERMC
• Assist with Annual Vendor Management reviews.

Miscellaneous Functions:

• Balance daily and reconcile monthly general ledger accounts.
• Maintain records in accordance with the record retention schedule for the department.
• Demonstrate compliance with banking laws and regulations as defined in company policies and procedures pertinent to position.

Who We Are: Join an organization that prioritizes innovation, customer service and supporting the communities we serve. Love the people you work with while participating in and helping to shape our collaborative environment. When you join Salem Five, you become part of a growing, regional financial services company. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Why Salem Five: We’ve been around since 1855 – which means we will be around a lot longer – but we also know what it takes to be competitive in this day and age. We pride ourselves in being one of the first banks on the internet and continually try and push ourselves to offer the latest in online and mobile banking to serve our customers in whichever channel they prefer. Whether it be a virtual assistant via our website, obtaining cash at ATMs without a card present, or going through the mortgage process via our digital app, we want to offer the digital experiences that customers want. Continued company growth offers opportunities for individual growth.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.

EDUCATION and/or EXPERIENCE

High School diploma or GED and at least 2-3 years related experience or training required. Primary focus is on daily deliverable of routine and defined outputs under direct supervision with a little operating discretion; knows how to reference procedures and documents; knows production flow and retention procedures; Accountable for the completion of assigned tasks and projects.

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. While performing the duties of this job, the employee is regularly required to sit; use hands to finger, handle, or feel; reach with hands and arms; and talk or hear. The employee is occasionally required to stand; walk; climb or balance; and stoop, kneel, crouch, or crawl. Specific vision abilities required by this job include close vision.

Benefits/Incentives: Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more.

Salary Range: Competitive Base

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.

Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)