Banking Operatons Specialist

Key Responsibilities

• Certificates of Deposit (CDs) & IRAs: Process CD and IRA account openings, renewals, and distributions, ensuring compliance with all federal and state regulations. Maintain accurate records of CD maturities, interest rates, and customer instructions. Provide expertise and guidance on tax reporting and required minimum distribution (RMD) calculations for IRA accounts.
• Trust Accounts: Manage the setup and maintenance of trust accounts in accordance with legal documents and regulatory requirements. Communicate with attorneys, trustees, and beneficiaries regarding account status and documentation needs.
• Inactive, Dormant, & Deceased Accounts: Process and monitor accounts classified as inactive or dormant, ensuring adherence to escheatment rules and regulations. Handle the disposition of accounts of deceased members, working closely with estates, heirs, and legal representatives to ensure proper distribution and closure of accounts.
• Legal Processes: Review and respond to legal requests such as levies, garnishments, and subpoenas in a timely and accurate manner. Liaise with legal teams and external agencies to ensure compliance with court orders and government requests. Maintain detailed records of legal documents and member communications related to these processes.
• General Operational Support: Collaborate with other departments to resolve member account issues and discrepancies. Assist with auditing and quality control to ensure the integrity of member data and adherence to internal policies. Provide advanced-level support for projects related to process improvement, technology updates, or regulatory changes within the operations department.

Qualifications

• Minimum of 3-5 years of experience in banking or financial services, with a focus on account operations and member services.
• Advanced knowledge of processing CDs, IRAs, and Trust accounts.
• Strong understanding of regulatory and compliance requirements related to deceased member accounts, inactive/dormant accounts, and escheatment laws.
• Experience processing legal documents such as levies, garnishments, and subpoenas.
• Exceptional attention to detail, organizational skills, and the ability to manage multiple priorities.
• Strong communication skills and the ability to interact professionally with members, legal representatives, and internal stakeholders.
• Proficiency in banking software and Microsoft Office Suite (Word, Excel).