Deposit Operations Specialist

Full-time

About the role

The Deposit Operations Specialist performs a variety of back-office and support duties related to deposit accounts and maintenance, supporting the daily operations of the Deposit Operations Department.

Responsibilities

• Oversees all aspects of Platinum Overdraft accounts, including daily report monitoring, processing charge-offs, mailing overdraft letters, updating COCC Insight to ensure account eligibility, tracking and maintaining accurate documentation for repayment plan agreements, and reporting accounts to collections.
• Produces monthly board reports detailing charge-off accounts and recovered accounts activity.
• Processes returned deposited items received from the Federal Reserve by posting chargebacks or redeposits, collaborates with branch staff and security officer to resolve negative balance accounts, and places appropriate holds on accounts for large dollar return notifications.
• Handles Levy processing by reviewing legal orders, placing holds on accounts, checking for exempt funds, producing customer letters, and sending funds to the issuing agency while maintaining accurate records.
• Completes research requests for customers, legal, and internal departments, including retrieval of account statements and check image copies.
• Processes returned mail for accounts, applying and verifying address flags as needed; handles returned Debit/ATM card mail under dual control procedures to ensure security and compliance.
• Completes Verifications of Deposits for customer accounts and provides timely responses.
• Performs maintenance in COCC Insight to remove duplicate profile requests.
• Processes fee reversal requests submitted by retail, crediting customer accounts accurately and promptly.
• Assists with internal posting requests submitted by HR, Accounting, and the Electronic Services Team, ensuring timely and accurate processing.
• Oversees IRA account review, processing, and exception tracking; coordinates and monitors all IRA-related activity, including distributions, contributions, required minimum distributions (RMDs), year-end reporting, and correction of tax documentation.
• Maintains expertise in current IRA regulations and bank processing by attending seminars and workshops to ensure compliance.
• Updates and maintains the bank’s IRA branch procedures and coordinates training sessions with retail to ensure proper understanding and compliance.
• Monitors industry trends and regulatory changes affecting IRAs and assists in communicating relevant updates to retail staff and customers.
• Participates in audits of the Deposit Operations Department, including ACH, Item Processing, Wire Transfer, and Deposit Compliance.
• Answers and assists with branch and customer telephone inquiries, resolves issues when possible, and escalates as necessary.
• Provides excellent customer service to internal and external customers.
• Supports interdepartmental efforts to improve operational efficiency and streamline procedures.
• Creates, updates, and maintains assigned policies and procedures to ensure compliance with operational consistency.
• Serves as a backup and cross-trained team member for all major Deposit Operations functions, including New Account Reviews, Large Check Review, ACH/Check Processing, Load Errors, Rejected Items, ACH Exception Report, Stop Payments, Wire Transfer Processing, Verification of Deposits, and Centrix Debit Card/ACH disputes.
• Performs other assigned duties.

Requirements

• Minimum of 2-3 years' experience in Deposit Operations or related banking functions.
• Knowledge of IRA regulations and applications is preferred.
• Working knowledge of deposit-related regulations.
• Strong attention to detail and accuracy.
• Ability to work under pressure and meet required processing deadlines.
• Proficiency with Microsoft Office and COCC.
• Excellent communication and problem-solving skills.
• Ability to work independently and manage multiple priorities.

Physical Demands

• Full hand dexterity required to operate computer terminal and related equipment.
• Eye coordination required to operate computer terminal.
• Frequently moves around the bank, between levels or floors while performing duties.
• Often lifts files, records, supply boxes, and places them in storage areas.
• Infrequently lifts up to 50 lbs.
• Regularly sits at a desk or computer workstation for extended periods.

Pay

$23.00 - $27.00 per hour