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.

• 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 elevate further. Associates encountering such ambiguity elevate 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…