Deposit Operations Specialist

About the role

The Deposit Operations Specialist serves as a subject matter expert for all deposit accounts, products and services and performs routine maintenance, monitors exceptions and reviews compliance adherence relating to deposit accounts. This role includes support for specialty accounts and processes including business, court-appointed, and UTMA accounts along with garnishments, leviances, subpoenas, and deceased accounts.

Responsibilities

• Act as the subject matter expert for the opening, maintenance, and compliance of all deposit accounts, products and services.
• Provide backup support for IRA and HSA accounts, deceased accounts.
• Process garnishments, leviances and child support requirements for member accounts; process deceased accounts from time of notice until closed; process subpoena requests and route to General Counsel when necessary.
• Prepare, review and process annual tax filing with the IRS, including any additional IRS requests submitted to the Credit Union.
• Manage escheatment process and ongoing account maintenance.
• Provide reports and feedback to manager regarding procedures related to deposit operations.
• Work closely with frontline staff and managers; make recommendations for process improvement; work on committees or special projects involving deposit operations as needed or requested.
• Maintain a professional work environment, promote teamwork, build respect among coworkers and present a businesslike appearance.
• Monitor deposit products including implementation of new share types, manage and assign tasks for rate changes and ensure disclosures are current and up to date.
• Stay up to date on state and federal rules and regulations which govern credit union operations to ensure compliance is maintained.
• Perform other job related duties as assigned.

  Qualifications

  • Experience: Three years to five years of similar or related experience.
  • Education: A two-year college degree, or completion of a specialized certification or licensing, or completion of specialized training courses conducted by vendors, or job-specific skills acquired through an apprenticeship program.
  • Interpersonal Skills: Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.
  • Other Skills: Good organization skills with a high level of attention to detail. Good communication skills (verbal and written). Must be self-motivated. Excellent time management skills.
  • Physical Requirements: The physical demands described here are representative of those required to successfully perform the essential functions of this position, but do not necessarily constitute an exhaustive list of all essential functions. To the extent required by any applicable law, reasonable accommodations will be made to enable qualified individuals with disabilities to perform essential functions where this can be done without posing a direct threat to self or others.