An Inside Look at the Role of a Senior Associate, Funds Availability Process Manager in Retail Banking
Today’s banking industry is an ever-evolving landscape, where innovation, technology, and customer experience come together to shape how we handle our finances. One role that sits at the heart of this intersection is that of the Funds Availability Process Manager. This position, held within a retail bank, is crucial in making real-time decisions that directly affect millions of customers worldwide.
When customers make a deposit, the Funds Availability Process Manager uses data-driven decisions to determine how swiftly the money becomes available for use. This role not only promises faster access to money for the customers but also ensures their protection from fraudulent activities. Furthermore, it ensures compliance with regulatory standards, making this role highly visible and critical within the banking industry.
Understanding the Key Responsibilities
The Funds Availability Process Manager is an individual contributor role, requiring excellent communication skills, attention to detail, and the ability to thrive in a team environment. The role involves leading across various stakeholders and partners to ensure compliance and risk mitigation within this highly regulated area.
As the primary point of contact and subject matter expert, the manager owns and manages a portfolio of technology processes. They are responsible for developing, maintaining, and ensuring the quality and consistency of formal process documentation. This includes process maps, standard operating procedures, business continuity plans, internal knowledge articles, and customer disclosures.
Furthermore, they are in charge of maintaining audit-readiness for all processes. They manage process controls and facilitate review sessions with Audit and Risk partners. Aligning key internal stakeholders is also one of their key responsibilities.
Regular monitoring of processes, risk assessment, identification of gaps, and ensuring adherence to regulatory, compliance, and legal requirements are part of the job. They identify and implement process improvements in collaboration with cross-functional partners, including Risk, Product, and Engineering teams. They also handle the resolution of complex problems and escalate systemic breakdowns by engaging the right stakeholders and partners.
In addition, they lead and manage special projects and initiatives as needed, ensuring timely and effective completion.
Basic and Preferred Qualifications
To qualify for this role, a High School Diploma, GED, or equivalent certification is necessary. At least two years of experience in Process Management, Project Management, Relationship Management, or Risk Management is also required.
Preferred qualifications include a Bachelor’s Degree or military experience. Certifications in Agile, Business Process Management, or Project Management are highly regarded.
It’s important to note that Capital One will not sponsor a new applicant for employment authorization for this position. Furthermore, the full-time annual salaries for this role vary by location.
Capital One offers a comprehensive, competitive, and inclusive set of health, financial, and other benefits that support the total well-being of its employees. This role is also eligible to earn performance-based incentive compensation.
Capital One is an equal opportunity employer committed to non-discrimination in compliance with applicable federal, state, and local laws. The company promotes a drug-free workplace and considers for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries.
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