Senior Specialist, Cash Deposits

About the role

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.

Responsibilities

• 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.
• Exercise judgment to investigate and determine the true nature of the issue, then decide the appropriate course of action—whether to approve an exception, coordinate with technical teams, or escalate further.
• Provide thought leadership and implementation support for department process changes, system enhancements, and new initiatives.
• Serve as approver and confirmer for all payments initiated by associates and others with authority levels below theirs.
• Function 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.
• Balance 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.

Qualifications

• Associates encountering such ambiguity escalate to this role as the first line of support.
• 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.
• 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.
• 1+ year business, finance, customer service and/or accounting/securities experience.

Benefits

We offer 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.

Pay

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.

Schedule

Work hours/week: 40

Additional Job Details

• Address: 250 NICOLLET MALL:MINNEAPOLIS
• City: Minneapolis
• Country: United States of America
• 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
• RBC’s 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.
• RBC’s Talent Community: Join our Talent Community to stay in-the-know about great career opportunities at RBC. Sign up and get customized info on our latest jobs, career tips and Recruitment events that matter to you.
• RBC’s Purpose: We strive to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.
• RBC’s Compensation Philosophy: Our 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