Position Information

Title: Electronic Funds Specialist

Functional Area: Deposit Operations

Summary: The Electronic Funds Specialist is responsible for all aspects of electronic banking services (online, mobile, remote deposit, wire transfers, bill payment, debit card programs, and ACH origination). This position is also responsible for a variety of accounting, financial, and clerical duties that support the Operations department.

Essential Duties and Responsibilities: Other duties or tasks may be assigned as required. Management may modify or add to the duties of this description at any time without prior consent.

  • Provides Internet Banking and Cash Management support duties as directed. Provides a full range of professional, technical, and general support to customers and Bank personnel. Provides training and setup on the features and benefits of Internet Banking and Cash Management products and services.
  • Oversees debit card and ACH fraud case management and Fed adjustments, reclamations, etc.
  • Processes incoming and outgoing wire transfer requests. Monitors status of wire and funds transfers, ensuring proper procedures are followed and paperwork is completed (i.e. authorization, callbacks, following BSA requirements).
  • Balances daily correspondent clearing bank account (UBB) and monthly (FHLB) to ensure accurate posting of entries and settlement. (All entries are reviewed for validity and prompt clearance.)
  • Originates daily position/cash settlement entries for EBA and Fed Settlements.
  • Completes monthly balancing of prepaid/accruals and depreciation.
  • Provides backup support to VP Operations and Operations Assistant.
  • Provides operational/customer service support to the Retail Banking department by researching customer inquiries, processing stop payments, etc. as needed.
  • Helps with Accounts Payable accountabilities and Vendor Management.
  • Performs other duties as the need is apparent or as assigned.

Qualification Requirements: To perform the job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. 

  • Must have good communication skills and a high degree of accuracy.
  • Must be proficient with a PC, particularly with Microsoft Office products.
  • Knowledge of core banking system applications.
  • Knowledge of item processing practices.
  • Knowledge of ACH procedures and practices.
  • Ability to work in teams or independently without supervision. Ability to handle multiple responsibilities.
  • Must be a highly flexible self-starter with leadership and creative problem-solving skills.

About Drake Bank: We believe that financial independence begins with financial knowledge. We are passionate about helping others learn more about money and money management.

We are a purpose-driven team of financial experts empowered to educate and assist in whatever way we can to help local businesses grow and for the shared prosperity of our community.

Drake Bank provides a competitive salary and an excellent benefits package. Come join our team!

Drake is an Equal Opportunity Employer.

How to Apply

Please send your resume to skroeber@drake-bank.com.

Human Resources
Drake Bank
60 East Plato Boulevard, Suite 100
St.Paul, MN 55107