Senior Specialist, Cash Deposits

Job Description

What is the opportunity?

The Cash and Deposit Operations Department Specialist role supports the continuity of RBC's Cash and Deposit operations by providing manual processing expertise and exception handling across Deposit, Check and ACH functions. The specialist manages complex exception cases, regulatory compliance (OFAC), and high-value transactions while actively identifying opportunities to optimize workflows, reduce manual touches, and leverage existing infrastructure and automation tools to enhance operational efficiency. The role ensures cash operations continuity, minimizes processing delays on high-value transactions, maintains regulatory compliance, and provides backup coverage during staffing absences or volume spikes.

This position will research, resolve, or secure requested information for other Operation's areas, RBC Business Units, external customers or industry participants. Incumbent provides thought leadership and implementation support for department process changes, system enhancements, and new initiatives. Position will address escalated questions independently seeking assistance from Manager as appropriate following established department procedures. Position contains increased elements of risk which are managed through operational reviews, system checks, and adherence to procedures.

Cash Operations is responsible for providing excellent, accurate and timely customer service to RBC Wealth Management (RBC WM) branches & complexes, Custody & Clearing, Operations and Corporate areas for supporting payment requests, reconciling general ledger accounts, managing bank account departmental ledgers, and supporting phone queue operations.

What will you do?

• Execute daily department oversight for complex processes to validate system processes are executing as designed. Run and analyze reports as required to resolve exceptions ensuring adherence to all regulatory and firm policy requirements.
• Respond to and escalate team workflow follow-up. Manage OFAC inquiries from correspondent banks (email and file-based exchanges). Oversee payment requests exceeding thresholds requiring additional review.
• Enter and approve payment requests across multiple business units. Execute manual entries in various vendor systems when automated processing is unavailable.
• Run and clear OFAC checks. Research and resolve OFAC holds. Monitor aged high-dollar reconciliation items. Review incorrect pair-offs. Partner with compliance and systems teams to streamline OFAC workflows and leverage existing screening infrastructure.
• Research unresolved  cases in Infinity fulfillment basket. Investigate aged payments for return processing. Research canceled payments and exception processing; coordinate resolution with representatives. Handle fraud cases to resolution. Document exception patterns and propose process improvements or system enhancements to reduce recurring manual interventions.
• This role is expected to exercise judgment to investigate and determine the true nature of the issue, then decides the appropriate course of action—whether to approve an exception, coordinate with technical teams, or escalate further. Associates encountering such ambiguity escalate to this role as the first line of support
• This role serves as approver and confirmer for all payments initiated by associates and others with authority levels below theirs. Additionally, this role functions as first-line escalation support—when an associate cannot determine the appropriate next course of action from documented procedures or when a call requires judgment outside associate authority, this role provides guidance and makes the determination.
• Decisions within their authority threshold and systemic control range are made by this role without further approval.
• Independently: Decisions within their authority threshold and systemic control range are made by this role without further approval.
• Jointly or with Escalation: Decisions exceeding thresholds or requiring strategic input are made in coordination with managers, senior managers, or specialists depending on scope.
• The role balances independent discretion within established parameters with collaborative escalation when appropriate, serving both as decision-maker and as a support function for associates navigating ambiguous or complex situations.

Nice to have:

• Ability to handle multiple priorities in a fast paced and deadline driven environment with a high attention to detail and ability to maintain confidentiality.
• Ability to communicate effectively both verbally and in writing.
• Excellent customer service and telephone skills.
• Ability to work well under pressure in a deadline-oriented environment.
• Ability to independently manage daily fluctuations in workload and prioritize to meet department needs.
• Some banking, brokerage operations, or related experience. Payments, Wealth Management, brokerage operations, or related experience.

Must-have

• 4-year degree from an accredited university (or equivalent). Or High school diploma (or equivalent) and 4+ years of job-related experience.
• FINRA Securities Licensing (SIE/S99) or ability to obtain both within 120 days.
• Pull daily reconciliation reports and run pair-off analysis. Process funds-after-cutoff items. Review reconciliation processes to identify opportunities for automated reporting, batch processing, and data integration across systems. Review communication patterns and identify candidates for workflow automation or template-based responses.
• Document manual processing bottlenecks and recommend solutions (system enhancements, process redesign, tool implementation). Monitor effectiveness of process improvements and suggest adjustments to procedures accordingly.
• Identify training opportunities for the team to leverage automation features in existing systems.

Nice-to-have

• 4-year degree from an accredited university or equivalent OR High school diploma or equivalent AND 3+ years of securities, banking, technology and/or job specific industry experience
• 1+ year prior securities, banking, technology industry and/or job specific related industry experience
• 4-year degree from an accredited university in business, finance or related field
• 1+ year business, finance, customer service and/or accounting/securities experience

What’s in it for you?

We thrive on the challenge to be our best, to think progressively to keep growing, and to work together to deliver trusted advice that can help our clients thrive and communities prosper. We care about each other and collectively work hard to reach our potential, make a difference to our communities, and achieve success that is mutual. You will also benefit from:

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• The opportunity to work as part of a dynamic, collaborative, progressive, and high-performing team
• Challenging work that will help you grow professionally
• Ongoing opportunities to build close relationships with clients

The good-faith expected salary range for the above position is $50,000 - $80,000 depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan. RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC’s high performance culture
• Enables collective achievement of our strategic goals
• Generates sustainable shareholder returns and above market shareholder value

Job Skills

Business Process Design, Critical Thinking, Operational Risks, Risk Control, Standard Operating Procedure (SOP), Teamwork

Additional Job Details

Address:

250 NICOLLET MALL:MINNEAPOLIS

City:

Minneapolis

Country:

United States of America

Work hours/week:

40

Employment Type:

Full time

Platform:

WEALTH MANAGEMENT

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2026-07-22

Application Deadline:

2026-08-05

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Our Employment Opportunities

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC. We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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RBC is presently inviting candidates to apply for this existing vacancy. Applying to this posting allows you to express your interest in this current career opportunity at RBC. Qualified applicants may be contacted to review their resume in more detail.