Deposit Operations Manager (Pasadena, CA)

About the role

Directs the Deposit Operations Department to provide operational and procedural support for the branch network and back-office departments.

Requires broad knowledge of Wescom products, services, policies and procedures, and ensures timely, efficient, and accurate processing of all checks, payments, and ACH transactions.

Requires working knowledge of other business units to provide necessary and applicable system assistance, to include Wescom Resources and other business partners.

Demonstrates full understanding of company initiatives and goals.

Fosters a culture within the department that reinforces member service, teamwork and collaboration, financial discipline, operational integrity, process improvement and efficiency.

Models desired behavior and promotes optimal member engagement.

Requires a continuing focus on building cross-functional teamwork, streamlining processes and workflows, and delivering Signature Experiences.

Responsibilities

• Directs department to serve as the primary support group for operational processes, policies and procedures.
• Responsible for the deposit product portfolio; dividend/rate validation and adjustments; tax reporting; dormant accounts; escheatment process; savings statement validation; all IRA functions including Required Minimum Distributions; verification of deposits;
• Oversees processing of file maintenance requests; backup withholding; review of ChexSystems and Early Warning alerts and OFAC;
• Provides direction for merger and acquisition activities, and the opening of new accounts acquired through alternative delivery channels.
• Effectively leads staff, supports and directs changing priorities, product and service offerings and systems.
• Ensures staff knowledge is current and applied.
• Manages and directs activities of the department staff.
• Establishes performance goals, allocates resources and assesses performance of staff.
• Ensures staff efforts are focused on achieving goals and aligned with Wescom’s strategic initiatives.
• Participates in company projects and contributes to organizational strategic initiatives.
• As a member of the Credit Union’s Management Team, leads and works collaboratively with others to navigate and execute complex business challenges and solutions.
• Develops new policies, products and services to support strategic initiatives.
• Encourages, develops and implements the streamlining of work processes and elimination of unnecessary steps by and through the use of technology, and automation.
• Serves as the internal subject matter expert for regulations and processes related to check collection, returned items, ACH processing, NACHA rules, and deposit accounts.
• Collaborates with other business units and legal representation for current regulatory review and ensures adherence to Credit Union policies, appropriate laws and regulations as it applies to levies, garnishments, subpoenas, and individual retirement accounts.
• Consistently provides a high level of service and is committed to increasing member satisfaction.
• Demonstrates adherence to the Deposit Operations Department Standards in addition to enforcement and modeling of our Mission Statement, Core Values and Team Attributes.
• Assumes personal accountability for maintaining high service standards and operational excellence throughout the department.
• Promotes advocacy and ensures member issues are handled expeditiously.
• Creates an environment that supports teamwork and collaboration, within the department and organization wide.
• Selects, coaches, evaluates and develops staff; oversees training of staff in member service, products and services, operations and interpersonal skills.
• Motivates staff and reinforces needs driven-selling and referral activity that support company growth.
• Ensures training objectives are met to include the completion of Wescom University core curriculum and regulatory training by direct reports.
• Provides operational and procedural support for the branches and back-office departments, to include promotional product creation, validation and presenting analytical data to stakeholders.
• Works collaboratively with management throughout the organization as a subject matter expert in supporting the Symitar Security Privilege Groups.
• Manages the Online Membership Application and collaborates with key stakeholders on application performance and analytics.
• Ensures application uptime and works swiftly to address issues to ensure maximum membership growth.
• Must be well versed in understanding escheatment laws and regulations, probate codes dealing with conservatorship, guardianship, Power of Attorney, non-probate transfers and trust laws.
• Seeks out and stays abreast of regulatory changes related to business unit.
• Works with Enterprise Risk Management and the California Credit Union League to ensure compliance.
• Develops and introduces changes that satisfy regulations without adversely affecting the Signature Experience.
• Facilitates communication with outside and in-house legal counsel to include Trusts, Power of Attorney, Fiduciary and Decedent Accounts.
• Works closely with Project Managers and Programmers, Computer Operations, Marketing, Finance and Digital Channels to ensure new and promotional products are systematically rolled out to frontline staff in an efficient and effective manner.
• Ensures department is compliant with audit and security standards, policies and procedures and loss prevention measures.
• Creates and communicates procedural changes and oversees the communication of written procedures by staff.
• Develops and manages the department budget.
• Ensures expense control in areas of responsibility to include salaries, overtime, supplies, vendor management and project cost control.
• Must be able and willing to work outside of normal business hours for testing and system validations, including weekends, evenings, and/or holiday hours.
• Ensures that the physical environment of the department is maintained according to Wescom standards.
• Ensures individual appearance and demeanor reflects the desired level of professionalism and holds staff accountable for same.
• Member of Management Team: Joins with all members of management to review and address member delivery and related functions, operational policies, employee issues, quality control problems, planning items, and other Wescom activities.

Qualifications

• Bachelor’s Degree or 5 or more years previous management experience at a financial institution.
• Strong knowledge of rules, regulations, and laws related to deposit accounts and check collections (electronic and paper) including: UCC 3 and 4; Federal Reserve Board Regulations CC, D, DD, E, and J; NACHA Rules; Bank Secrecy Act; and the PATRIOT Act.
• Ability to research, analyze, and document findings related to new products, processes, and services, including the ability to extrapolate Member acceptance, impact on other departments, and financial implications.