Deposit Operations Officer

About the role

The Deposit Operations Officer is responsible for managing the day-to-day operations of a bank's deposit accounts, ensuring the accuracy and efficiency of transactions, maintaining compliance with banking regulations, and providing support to retail and commercial banking staff regarding deposit products and services. They also oversee the overall smooth functioning of the deposit operations department, handle administrative/HR duties for both themselves and junior staff, and interact professionally with various stakeholders.

Responsibilities

• Manage job assignments and work schedules of assigned duties.
• Prepare daily reconciliation of general ledger and affected accounts.
• Prepare any required management reporting as assigned.
• Communicate any issues encountered, operational or regulatory, to supervising management for providing status information and coordination of resolution.
• Interact with others in a professional, clear manner to communicate key points.
• Manage C&I client accounts, including monitoring/reviewing of RDCs, and handling returned mail.
• Support Treasury for brokered/institution deposit account onboarding and processing of CDARS & ICS accounts on vendor systems.
• Support Deposit Services, QA teams, and executive management reporting.
• Act as a coordinator between IT and Legal for spec/work requests and testing for: creation and changes and deletions to Core, BPM, and Beni.
• Coordinate with Compliance and communicate changes to affected stakeholders.
• Support call center for branch (Retail Banking) and business unit inquiries related to policies, procedures, and regulations.
• Handle fraudulent/error/unauthorized transactions claims, including Debit Card maintenance, ATM & Mobile deposit monitoring, and Exception item processing.
• Manage IOLTA, Bankruptcy Accounts, W-8BEN, W-9 corrections (B notices), Back-up withholding reporting/filing, and Address Change – verification/notification.
• Oversee Canadian Check Collection and Fraudulent/Error/Unauthorized Transactions Claims – Collections.
• Monitor and filter suspect checks, set criteria for monitoring systems, and decide whether to pay or return suspect items.
• Manage Deposit Support: Escheat – Inactive & Dormant, Cash management, Fedline, Cashier’s Checks, Reconciliation/Certification of Deposit Operations controlled/own accounts, IOLTA, Bankruptcy Accounts, W-8BEN, W-9 corrections (B notices), Back-up withholding reporting/filing, Address Change – verification/notification, Operations Support/Payment/EFT, Canadian Check Collection, Fraudulent/Error/Unauthorized Transactions Claims – Collections, Debit Card maintenance, ATM & Mobile deposit monitoring, ATM & Mobile deposit monitoring; reject, acceptance & hold decisioning, Suspect check system monitoring; ownership of filtering/criteria/spec setting for monitoring system; and decision of pay or return on suspect, Exception item processing.

Requirements

Must have a Bachelor's degree in Finance, Accounting, Business Administration, or a related field. A minimum of 3 years of relevant experience in banking, preferably in deposit operations, is required. Proficiency in Microsoft Office, especially Excel, is essential. Knowledge of banking regulations and compliance is necessary. Strong organizational and communication skills are required, along with the ability to multitask and prioritize responsibilities.

Qualifications

Must be able to perform physical tasks such as standing, walking, sitting, reaching, and lifting up to 20 pounds. Must be able to work in a fast-paced environment and adapt to changing priorities. Must have excellent interpersonal and problem-solving skills. Must be able to work occasional evenings and weekends.

Skills

Strong knowledge of banking regulations and compliance, proficiency in Microsoft Office, especially Excel, strong organizational and communication skills, ability to multitask and prioritize responsibilities, ability to work in a fast-paced environment, ability to adapt to changing priorities, excellent interpersonal and problem-solving skills, ability to work occasional evenings and weekends.

Benefits

Bank of Hope offers a competitive salary range of $23 Hourly - $27 Hourly + bonus + benefits. The exact compensation may vary based on qualifications, level, and location. Bank of Hope is an equal employment opportunity employer and does not discriminate on the basis of race, color, gender, religion, age, sexual orientation, genetic information, national or ethnic origin, disability, marital status, veteran status or any other basis protected by federal, state, or local law.