**TEKsystems client, a major Big 5 Bank here in Canada, is currently looking to hire for a Operations Specialist to join their Global Cash Management team in downtown Toronto! This role is best suited for candidates with experience in Cash Management Operations including in-depth knowledge of Cash Management processes, monitoring of cash flow in and out of the bank, reporting on the bank's position, experience in multiple currencies including USD, GBP, EUR, and experience in CAD specific to LYNX payment system.** The Operations Specialist will support both BAU responsibilities and offer strategic insight as they navigate recommendations/changes from OSFI. Mandate: - Responsible for the monitoring and consolidation of cash flow in and out of the bank and reporting the bank final’s position to the trading product front desk for an investment /borrow perspective. - The individual is responsible of maintaining the adequate liquidity in USD, GBP and EUR currencies held at various correspondent banks (Nostros) on behalf of multiple the Bank. - Our client is a direct participant on Canada’s high value payment system for Canadian dollars, LYNX. The individual will be required to ensure adequate collateral liquidity is available at Bank of Canada to fund LYNX. - The individual responsible for preventing intra-day liquidity issue or end of day overdraft position to allow ample opportunity for short term investment or supplemental funds as well as allocate /allocate credit line in CDS to support the business as required. - Accountable for function that require specialized handling and skills, act as the key escalation point for product business challenges and apply in-depth product knowledge to ensure consistency and effectiveness of service and support and effective management of risk and controls. - Act as a key control over critical business activity related to the area of cash management, with significant involvement in advising on the business implications of options, to facilitate effective and comprehensive understanding of business decision. - Manage and resolve day to day issue specific to cash management including resolving complex internal business partner and/or external customer issue, escalate more complex issue to senior management if necessary. - Act as the main escalation point for business challenges and meet various cut-off times during the day, as delegated. - Manage and monitor a complex portfolio of work representing a significant amount of risk. - Act in an advisory capacity, as a subject matter expert (SME) to senior management on the implications of proposed business decisions related to cash management. - Lead activities, as a SME for new work related to cash management and liquidity analysis. - Lead in projects related to areas of cash management and liquidity analysis. - Provide a guidance and support to related business unit regarding procedures for cash management. - Maintain relationships with industry contacts (internal and external), regulatory officials and external consultants for purposes of enhancing business effectiveness within the scope of accountability. - Receives timely analysis of information and escalate daily liquidity gap analysis to ensure compliance with term and conditions and ongoing maintenance of risk within acceptable levels. - Continuously assess and improve the operational effectiveness of the portfolio within prescribed limits. - Identify and recommend business process improvement efforts related to cash management and liquidity analysis. Tasks: • Investigate, on the fly, unexpected payments performed and suggest to the Treasury Desk with respect to funding in order to facilitate timely settlement of all transactions • Allocate, quickly and accurately, funds among cash accounts to cover intra-day liquidity shortages. • Work effectively with high volume of transactions and with time constraints • Breaks down strategic problems, and analyses data and information to provide insights and recommendation. • Influences and negotiates to achieve business objectives. • Recommends and implements solutions based on analysis of issues and implications for the business. • Identifies emerging issues and trends to inform decision-making. • Assists in the development of strategic plans. • Helps determine business priorities and best sequence for execution of business/group strategy. • Supports the execution of strategic initiatives in collaboration with internal and external stakeholders. • Builds effective relationships with internal/external stakeholders. • Ensures alignment between stakeholders. • Communicates with internal business partners and external customers to respond to standard and non-standard inquiries. • Monitors and tracks performance and addresses any issues. • Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting. • Develops and manages a business/group program. • Reviews the program for effectiveness, considers industry trends and recommends enhancements; makes changes as required. Risk & Control - Maintain key controls and review process, where applicable, to ensure operating integrity, comply with internal and external regulators, involving an understanding of regulatory and compliance requirements as prescribed for the business unit; provide recommendations and implement corrective actions to ensure adherence as required. - Identify potential risk situations within the scope of works (e.g. risk assessments), make recommendations and/or escalate to sr management, where appropriate, and ensure contingency plan exist. - Develop and maintain standards, process, and controls in cash management in order to minimize loss/risk, ensure all regulatory requirements are met, and safeguard the assets of the Bank. - Understand risks inherent in area(s) of expertise and take appropriate actions, including accuracy and safeguarding of all documentation and any other requirements to ensure operational integrity is maintained within the business. - Ensure adherence to all aspect of First Principles, our Code of Business Conduct and Ethics Bank standards, policies and procedures (P&Ps) for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities. - Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and to ensure compliance with Bank P&Ps. - Follow security and safeguarding procedures and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to such things as fraud or defalcation. - Contribute to the management of risk and minimize losses through monitoring and controlling various reports and taking appropriate actions, ensuring compliance requirements, audits and verifications are completed in accordance with Bank P&Ps. Business Performance Management - Deliver exceptional customer service that builds trust through responsive, accurate, consistent, knowledgeable and available services and support. - Align individual performance goals to team and organizational goals. - Demonstrate behaviours that are consistent with “Our Way” model and aligned with the banks values. This role has the authority to: - Manage and monitor a complex portfolio of cash transactions representing a significant amount of risk - Make independent decisions within established guidelines, procedures and Letter of Authority/authority levels in resolution/escalation of problems, including system, software and hardware failures. - Escalate all unresolved processing issues to the appropriate level, as the guidelines. - Develop initiatives to avoid repetition of operational issues. - Act as SME in an advisory capacity to the Head and Lead new work. - Recommend business performance improvement. - Prioritize work in accordance with policy and severity of service impact to minimize financial/customer impacts. - Ensure authorizations and approvals are obtained in accordance with policies and controls. SCOPE AND IMPACT - Customer confidence and satisfactions by ensuring more complex cash transactions are processed and more complex non-routine business issues are resolves accurately and on a timely basis. - Customer retention by ensuring service quality in processing transactions and resolving escalated issues. Bank financial performance by responding on a timely basis to changing operating conditions so as to mitigate financial penalties and cost; also ensures an appropriate balance between customer service and costs to minimize loss of revenue or customer dissatisfaction. - Mitigation of reputational risk and financial loss against such things as fraud, defalcation and/or financial penalties by ensuring compliance with Bank P&Ps and regulatory requirements. - Mitigation of costs/impacts associated with human errors by supporting the proper coaching and training of others. - High volume and or/high risk environment with strict timeframes that are time sensitive and subject to large penalties if timelines are missed. MUST HAVES: 1) Strong experience in Cash Management Operations including in-depth knowledge of Cash Management processes, monitoring of cash flow in and out of the bank, reporting on the bank's position, experience in multiple currencies including USD, GBP, EUR, and experience in CAD specific to LYNX payment system. (2) Experience and knowledge of Intra-Day Liquidity monitoring, end of day draft position, and hands-on experience working with depositories like CDS to handle tasks like allocate credit line to support the business. (3) Experience working in a high-volume environment, maintaining day-to-day tasks while also managing internal/external communication like regulatory officials. Employee Value Proposition (EVP) Multi-year initiative likely to go up to the 2-year tenure limit and opportunity to convert permanent. Hybrid working model, with office in downtown Toronto (Can be expected to be in office 1-4 times a week depending on the need of the project) Pay: $46 - $70/hr Duration: 6 month contract to start with an opportunity to be extended up to 2 years. After the 2 year limit, the bank would be able to convert the consultant into a full-time permanent position. Job Type & Location This is a Contract position based out of Toronto, ON. Pay and Benefits The pay range for this position is $46.00 - $70.00/hr. Workplace Type This is a hybrid position in Toronto,ON. À propos de TEKsystems et TEKsystems Global Services Nous sommes un fournisseur de services aux entreprises et de technologies. Nous accélérons la transformation de nos clients. Notre compétence en stratégie, conception, exécution et opérations libère la valeur de l’entreprise par un éventail de solutions. Nous sommes une équipe de 80 000 personnes qui collaborent avec plus de 60 000 clients, notamment 80 % du Fortune 500 en Amérique du Nord, Europe et Asie, qui collaborent avec nous dans le cadre de nos capacités full-stack et notre rythme. Nous sommes des penseurs stratégiques, des collaborateurs pratiques qui aident les clients à exploiter le changement et maîtriser le dynamisme de la technologie. Nous bâtissons le futur en livrant les résultats et en créant un impact positif dans nos communautés mondiales. TEKsystems et TEKsystems Global Services sont des entreprises d’Allegis Group. Découvrez d’autres informations à TEKsystems.com. About TEKsystems and TEKsystems Global Services We’re a leading provider of business and technology services. We accelerate business transformation for our customers. Our expertise in strategy, design, execution and operations unlocks business value through a range of solutions. We’re a team of 80,000 strong, working with over 6,000 customers, including 80% of the Fortune 500 across North America, Europe and Asia, who partner with us for our scale, full-stack capabilities and speed. We’re strategic thinkers, hands-on collaborators, helping customers capitalize on change and master the momentum of technology. We’re building tomorrow by delivering business outcomes and making positive impacts in our global communities. TEKsystems and TEKsystems Global Services are Allegis Group companies. Learn more at TEKsystems.com. The company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.