Treasury Operations Specialist

Reston, VA
Feb 14, 2019
Feb 15, 2019
Full Time
Navient (Nasdaq: NAVI) provides asset management and business processing solutions to education, healthcare and government clients at the federal, state, and local levels. We help our clients and millions of Americans achieve financial success through our services and support. Headquartered in Wilmington, Delaware, Navient employs team members in Western New York, Northeastern Pennsylvania, Indiana, Tennessee, Texas, Virginia, and other locations. Learn more at The Treasury Operations Specialist is responsible for the administration of Navients Debt and Derivative portfolio and the Collateral margin call process and all aspects of Trust Administration. The position requires the preparation of daily margin calls, debt and swap payments and reconciliations, and the administration of trusts and facilities. In addition, the incumbent must be fully versed on all functions of the cash desk and cash management to provide coverage for other treasury operation team members. The individual will be assigned ad hoc projects as requested by management. Strong communication skills are required to effectively communicate with external counter parties, broker/dealer, correspondent banks, and various internal groups such as Capital Markets, Corporate Accounting, Compliance, and senior management. This position reports to the Supervisor of Treasury Operations. Essential Job Functions: Cash Concentration & Electronic Transfer Functions * Facilitate timely disbursement of funds transfer, setting up and maintaining repetitive templates, and performing end of day processing to ensure transactions have settled * Ensure that all Funds Transfers requests have the necessary approvals before initiation * Set up Wires, Automated Clearing House (ACH), and Direct Debit transfers based on requests from authorized individuals. Administrative Functions * Cross train and provide backup for the other Treasury Operations Specialists and Analysts. * Maintain and update procedures within 30 calendar days * Complete all related research requests for internal customers and internal/external auditors. * Participate in providing backup for ICE Control testing and audit. * Work on projects as assigned * Prepare month-end and ad-hoc reports as assigned Check Processing * Process check requests from Accounts Payable for various subsidiaries * Deposit checks weekly and prior to month end * Process check issuances * Process Stop Payments on issued checks Trust Administration * Prepare and review Trust and Facility reporting and waterfall distribution calculations * Coordinate with Capital Markets on loan purchases and sale schedules that support funding activities. * Prepare advance borrowing requests and permitted release requests * Coordinate cash settlements from borrowings and releases with trustees and internal groups * Verify cash activity occurs at the paying agent banks according to projected activity from various internal source systems. Accurately tag bank transactions with the appropriate category code to facilitate accounting processes. Collateral Margins Call Administration * Work with various trust collateral counterparties to determine and confirm daily margin calls. * Prepare margin calls documents for Sr. Treasury Analyst or managers approval and enter trades into various internal systems for tracking purposes. * Ensure daily collateral movements are processed through custody agents and ensure cash and securities trades are settled and reconciled. * Prepare monthly market value report and distribute accordingly. * Monitor credit ratings and review ISDA contract when a change occurs Debt and Derivative Portfolio Administration * Coordinate the timely settlement process of new issuances and repurchases of debt and swap deals * Perform interest calculations, confirm trades with counterparties, and monitor trade settlements * Confirm and ensure accuracy of scheduled monthly debt and swap payments * Prepare reconciliations MINIMUM REQUIREMENTS: * Bachelors Degree - Business related field, preferably Finance * 0-1 year of experience within the Business or Finance field required PREFERRED QUALIFICATIONS: * Familiarity with Treasury operations and the banking industry is helpful. * Familiarity with funds transfers. * Familiarity with banking software.

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