Associate Deposit Operations Specialist
About The Position
Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream. How This Role Impacts Live Oak and its People We are on a mission to be America’s small business bank. Our deposits help fund loans for small businesses across the country. As an Associate Deposit Operations Specialist, you help fuel the growth of small businesses. The Associate Deposit Operations Specialist is responsible for all deposit operational activity for the bank including account maintenance, money movement, and reconciliation. This position promotes business for the bank by maintaining relationships with internal and external bank customers. The Associate Deposit Operations Specialist is a designated essential employee and may be required to be available after hours, and to work either in the office or remotely during inclement weather or a disaster scenario.
Requirements
- Bachelor’s degree or equivalent industry experience
Nice To Haves
- A minimum of 2 years banking experience
- Knowledge of banking regulations
Responsibilities
- Maintain knowledge and understanding of bank policies and procedures
- Process ACH transactions, ACH returns and ACH files using various banking platforms within the governance of NACHA rules and guidelines
- Open collateral and bank-controlled accounts per requirements of the lending relationship
- Maintain and update account holder information across multiple banking systems
- Research and resolve deposit account and general ledger reconciliation differences
- Monitor and review online deposit applications to ensure accurate documentation has been obtained
- Monitor and address all exception items including non-post, stop pays and NSF transactions
- Handle incoming and outgoing wire requests
- Issues and maintains debit cards
- Handles debit card disputes
- Adhere to all regulatory requirements and training
- Organize, plan, and prioritize
- Apply knowledge of deposit products, services, rules, and regulations
- Pay close attention to detail to ensure accuracy and to minimize mistakes
- Take steps to reduce adverse effects and mitigate risk
- Effectively communicate with others and adapt communication style as needed
- Demonstrate willingness to learn, accept feedback, improve, and adapt to change
- Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC
Benefits
- Paid sick leave
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
