Treasury Associate II

Location: This position is considered on-site at BND (Bismarck); after training period, a hybrid arrangement may be considered and can be discussed at interview.

Summary of Work

The Bank of North Dakota (BND) is seeking a Treasury Associate II to join our team! BND’s Treasury Department provides several programs to financial institutions throughout North Dakota, and neighboring states. Treasury’s Federal Funds program provides daily liquidity, both buying and selling, to over 110 financial institutions with daily transaction volume of over $300 million. Treasury provides pledging services for over 1,400 public entities on behalf of our financial institution customers. Safekeeping is custodial service offered to more than 100 customers with combined assets in custody over $11 billion, processing thousands of payments per year. By entrusting their securities to a custodian, our customers can ensure the safety and proper management of their investments, while also benefiting from efficient transaction processing and reporting services. 

As a Treasury Associate II, you will play a crucial role in our customer experience by ensuring the accurate and efficient processing of payments, transfers, and settlements for our customers. A large part of your role will be customer facing for various Treasury services, by developing core competencies in safekeeping, trade processing, securities pledging, Letters of Credit for Public Deposits, and Federal Funds. You will also provide support to team members as backup and training. You will be using a variety of systems and technology, including Bloomberg, FIS InTrader, S&P Capital IQ, and Fiserv Premier. As a member of our Treasury team, one should be a responsible, flexible individual with strong mathematical, analytical, and problem-solving skills. Ability to interpret a variety of instructions furnished in written, oral, diagram or schedule form. To perform this job successfully, an individual must be able to demonstrate an ability to collaborate constructively and effectively with all stakeholders, and work toward a common goal; multi-task and maintain an optimistic outlook in a fast-paced, time-sensitive work environment; accept and implement changes with processes, people and circumstances exhibiting a positive approach to each situation; be coachable, the ability to be receptive to feedback and use it to determine how you can make improvements, growing through hard work and determination to succeed.

Duties and Tasks

Safekeeping Services:

• Maintain records of ownership and transactions related to customer and Bank securities portfolios. Process incoming and outgoing payments, transfers, and settlements for safekeeping accounts in accordance with established procedures and deadlines. Investigate and resolve any discrepancies or exceptions related to payment processing in a timely and efficient manner. This entails verifying all payments are received and correct, and reconciling any payment issues before payment date, and processing calls on all securities.

Trade Settlement Processing:

• Responsible for the set-up, settlement, maintenance, and review of Bank and customer trade instructions. Ensuring timely and accurate delivery, settlement, and reconciliation on BND systems. Perform account and customer portal maintenance, archive all submitted requests and troubleshoot portal issues. Correspond with brokers and customers to ensure timely and accurate settlement.

Securities Pledging:

• Responsible for BND handling pledging agreements for pledgee and pledgors. Efficiently manages securities collateral pledging activities: Pledging and releasing collateral for secured borrowings, such as repurchase agreements, and for municipal deposit accounts based on specific collateral requirements, including state administered programs. Provides required ongoing collateral confirmations and reporting.
• Ensuring accurate and timely reporting for all parties.

Letters of Credit and Federal Funds:

• Responsible for BND’s liquidity management services offered to financial institution customers. Which include processing overnight Fed Funds transactions, maintaining BND’s automatic Fed Funds sweep service, and managing BND’s Letter of Credit for Public Deposit program.

Treasury Department Support:

• Develop proper understanding of each security type so you can explain details to customer.
• Update and verify factor, rates, and market prices on customer holdings.
• Review regulatory reporting reports applicable to customer reporting for accuracy.
• Review and correct variances on customer balancing.
• Set up new customers as requested, and answer customer inquiries as needed.
• Prepare scanning of monthly correspondence with customers.
• Research, analyze, and implement new products or services.

Administrative Duties: Review, Research, Update.

• Understand the Investment Department processes, systems and policies to communicate information to customers and other departments.
• Report to several parties for policy compliance, internal controls, internal operating procedures and satisfy customer requests.
• Document and records retention administration.
• Establish new Safekeeping Customer Accounts.

Minimum Qualifications

This position requires two years of banking, accounting, operations or finance related work experience. College or vocational education with courses in accounting or business may be substituted for the work experience requirement on a year-for-year basis.

Preferred Qualifications

The candidate should be able to demonstrate proficiency with various Microsoft products, such as Excel and Word, but the ability to employ intermediate Excel capabilities is a preferred skill. Experience with large business/enterprise management software is also preferred.