Cash Services Manager

Position Title
Cash Services Manager

Location
New York, NY 10018

Job Summary
The Cash Services Manager leads the daily operations of the Cash Services team while overseeing the organization's third-party cash vendor relationships to drive service excellence, cost efficiency, and risk mitigation. This role owns the cash vendor relationship—leading contract negotiations, renewals, and terminations; ensuring compliance with SLAs and contractual obligations; managing due diligence; completing cash vault audits in accordance with procedure; and using vendor scorecards, QBRs, and data analytics to evaluate performance and identify cost-saving opportunities. Operationally, the manager oversees Federal Reserve cash orders, recompilations, exception handling, GL reconciliations, and cash vendor invoicing. The manager directs Team Leads, Senior Specialists, and Specialists—setting goals, coaching, and conducting performance reviews—while serving as the primary escalation point and facilitating cross-functional collaboration with internal stakeholders and senior leadership.

Job Responsibilities:

- Manage and oversee third-party vendor relationships, ensuring alignment with organizational goals and standards.

- Lead contract negotiations, renewals, amendments, and terminations in collaboration with ATM, Finance, Retail, and Sourcing teams.

- Ensure vendor compliance with SLAs, contractual obligations, and performance expectations.

- Oversee vendor onboarding, offboarding, and due diligence processes to mitigate organizational risk.

- Develop, implement, and maintain vendor scorecards to evaluate performance against established KPIs and benchmarks.

- Lead quarterly business reviews (QBRs) and periodic vendor performance assessments to drive accountability and continuous improvement.

- Identify and resolve vendor performance gaps through structured corrective action plans.

- Leverage data analytics and reporting to inform vendor strategy and executive-level decision-making.

- Assess and mitigate vendor-related risks, including financial, operational, reputational, and regulatory risks.

- Ensure vendor adherence to internal policies, industry regulations, and compliance requirements.

- Oversee general ledger reconciliations, vendor invoicing, purchase orders, and budget allocations.

- Identify cost-saving opportunities through vendor consolidation, renegotiation, and strategic sourcing initiatives.

- Serve as the primary escalation point for operational and vendor-related issues, driving timely and effective resolution.

- Build and maintain strategic vendor partnerships to maximize business value and service delivery.

- Facilitate cross-functional collaboration between vendors, internal stakeholders (i.e. ATM, Finance, Treasury Management), and senior leadership.

- Generate and present vendor performance reports and insights to senior leadership teams.

- Provide direct leadership to Team Leads, Senior Specialists, and Specialists — setting departmental goals and clear performance expectations, providing ongoing coaching, training, and feedback, conducting performance reviews, and driving accountability to foster a high-performance culture.

- Drive process improvement initiatives and best practices to enhance efficiency and accuracy within vendor management and cash services
- Oversee daily operations of the Cash Services team, including Federal Reserve cash orders, recompilations, and exception handling.
- Collaborate with external vendors (cash vault/courier services, federal reserve) to support operational initiatives. Including coordinating additional services (e.g. cash vault setup, courier services, and Fed endpoints), and scheduling/performing cash vault audits in accordance with procedures.
- Monitor and analyze operational metrics to identify trends, risks, and opportunities for improvement.
- Maintain and update standard operating procedures (SOPs) as necessary.

ADDITIONAL ACCOUNTABILITIES

- Ensure timely communication of updates, policy changes, and procedural modifications to the team.
- Promote a positive and collaborative team environment that supports operational excellence.
- Performs special projects, and additional duties and responsibilities as required.
- Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance training. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications:

- Education level required: High School / High School Equivalency (GED, HiSET, TASC) / Foreign Equivalent

- Minimum Banking Experience: 3+ Years

- Minimum Management experience: 3+ Years

- Experience with contract negotiations, renewals, amendments, and terminations.

- Experience with Service Level Agreement (SLA) handling and compliance.

- Experience conducting vendor performance reviews and quarterly business reviews (QBRs).

- Experience assessing and mitigating vendor-related risks (financial, operational, reputational, regulatory).

- Experience with vendor onboarding, offboarding, and due diligence processes.

- Experience with general ledger reconciliations, vendor invoicing, and budget management.

- Proficiency in Microsoft Office (Word, Excel, Outlook)

- Experience developing and maintaining vendor scorecards and KPI frameworks.

- Experience generating performance reports and presenting to senior leadership.

- Strong analytical, negotiation, and problem-solving skills with a strategic mindset.

- Strong leadership and team development skills

- Ability to manage multiple priorities, deadlines, and stakeholder expectations independently and effectively.

- Strong written and verbal communication skills with the ability to influence at all organizational levels.

Preferred Qualifications:

Job Competencies:

- Team Leadership and performance management – ability to set goals, coach, mentor, and develop Team Leads, Senior Specialists, and Specialists

- Accountability and the ability to drive a high-performance, service-oriented culture

- Third-party vendor and SLA Management – selecting, monitoring, and holding vendors accountable to service-level agreements

- General ledger reconciliation and exception resolution

- Operational accuracy, risk awareness, and regulatory/audit compliance

- Strong knowledge of Microsoft Word, Excel, and Outlook

- Analytical thinking – interpreting operations metrics to identify trends, risks, and improvement opportunities.

- Sound problem-solving and decision-making under time-sensitive conditions

- Attention to detail and strong organizational skills

- Clear written and verbal communication with internal departments and external vendors

- Cross-functional collaboration (e.g. Core Banking/ATM IT, Accounting, Treasury Management)

- Effective escalation handling and stakeholder management

- Time management and prioritization across multiple competing demands

- Ability to work independently and adapt to shifting priorities.

- Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
- Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
- Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
- 20% travel is required

- Physical demands (ADA): No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer - Vets/Disabled

We are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information:  Benefits | Flagstar Bank

Pay Range
$62,898.00 - $105,915.00