While Electronic Services is mainly “behind the scenes,” they are essential to a great deal of core functioning within Capital City Bank. In addition to managing wires and Automated Clearing House (ACH) origination, they are also responsible for several critical functions within the Bank, including:

• The accurate and timely processing of incoming and outgoing wire transfers
• Evaluating wires for signs of fraud 
• Office of Foreign Assets (OFAC) compliance
• Adherence to Bank policy and procedures and enforcement of these procedures
• Calls and e-mails from internal and external clients related to wires
• Accurate and timely daily origination of outgoing Automated Clearing House (ACH) transactions to the Federal Reserve Bank (FRB)
• Ensuring adherence to policy prefunding and limit requirements
• Pledging and releasing of securities held for public funds on deposit with Capital City Bank
• Monthly and annual state Qualified Public Depositor reporting
• Daily monitoring and settlements of the Bank’s correspondent bank accounts, including the Federal Reserve Account
• Ensuring transaction activity is accurate, target balances are maintained, daylight overdrafts are avoided, reserve requirements are met, and accurately processing Fed Funds selling and purchasing transactions, in addition to supporting calls and e-mail inquiries related to each of these functions

Electronic Services also works in support of several departments. Here is a list of some of these departments and how Electronic Services aids them:

• Deposit Services: assistance with any ACH Returns and clearing of items from the FRB General Ledger Account
• Transactional Risk & Fraud Protection: aid in reviewing wires suspected to be fraudulent
• Corporate Compliance: help Bank Secrecy Act (BSA) with reviewing wires/ACH with potential OFAC Sanctions matches
• Online Services: assistance with any wire or ACH transaction issues for Treasury Management clients
• Loan Servicing: assistance with any wire credits, loan payments, or ACH payments for loans created through the Loan Payment Portal
• Financial Accounting and Reporting: reconciling outstanding items on correspondent bank accounts, the FRB account, Wire Settlement account, or similar
• Treasury: pledging and releasing of securities for public funds, selling/purchasing Fed Funds, and monitoring correspondent bank relationships and target balances
• Retail Support: assistance with office vault/ITM cash orders and shipments settling against a correspondent bank account, reporting wire errors
• Application Services: technical support for system issues while processing wires and ACH origination and coordination on ACH file processing for files received from the FRB
• Retail Office Delivery: processing wires received from office associates and support calls/emails related to wire policy and procedure
• Centralized Document Imaging: accurate filing and indexing of wire forms processed

In the Electronic Services department, there are 3 separate full-time jobs that a Funds Settlement Specialist must fully train on and be capable of rotating positions at a moment’s notice to ensure business continuity for the mission-critical functions of the department:

• Incoming Wires  
• Outgoing Wires  
• ACH/Funds Settlement

Each of the 3 require dual control, and separation of duties processes must be strictly adhered to. The team is on a bi-weekly rotation schedule to ensure everyone keeps their skills up to date, but they are also subject to unscheduled rotations and must be prepared to rotate when the department is unexpectedly short-handed. The associates rely heavily on one another to meet their daily deadlines and must coordinate constantly throughout the day to perform dual control functions.

Associates in Electronic Services are experts in their field. Don’t be afraid to ask questions before entering a wire or if you suspect fraud. Preventing fraud is the responsibility of everyone in the Bank, and frontline associates are in the best position to know their clients and obtain as much information as possible to help protect both the client and the Bank from a potential loss due to fraud.

When contacting Electronic Services, it’s important to e-mail the entire group when you need assistance so the proper person will see your inquiry as quickly as possible.