Deposit Operations Officer

Bank of Hope•Honolulu, HI

4d•Onsite

About The Position

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, all while overseeing the overall smooth functioning of the deposit operations department. This role also involves administrative/HR duties for both self and junior staff, including training, counseling, mentoring, managing team morale, and reporting staffing issues. The officer will prepare daily reconciliations, management reports, and job assignments, while staying vigilant for potential BSA/FCC red flags and communicating any operational or regulatory issues to management. Adherence to bank policies, procedures, and regulatory requirements is paramount. The role requires professional interaction with various stakeholders including management, consultants, auditors, examiners, and vendors. Key responsibilities include managing various deposit support functions such as Escheat, Cash management, Fedline, Cashier’s Checks, Reconciliation/Certification of accounts, IOLTA, Bankruptcy Accounts, W-8BEN, W-9 corrections, and back-up withholding. Additionally, the role involves handling address changes, supporting payment/EFT operations, managing Canadian Check Collection, fraudulent/error/unauthorized transactions, Reg E claims resolution, Debit Card maintenance, ATM & Mobile deposit monitoring, suspect check system monitoring, and exception item processing. Support is also provided to Commercial & Industrial (C&I) clients, including RDC monitoring, branch GL certification review, and review of branch operations exceptions. The officer will administer IRA accounts, verify deposits, handle returned mail, support Treasury for Brokered/Institution Deposit Accounts, and onboard CDARS & ICS accounts. The role provides support to the Call Center, Retail Strategy for new product development, and IT/Legal for system specifications and testing. Coordination with Compliance, communication of changes, executive management reporting, and support for Deposit Services and QA teams, including ChexSystem audit coordination, are also key functions.

Requirements

Accuracy and efficiency of transactions.
Compliance with banking regulations.
Support to retail and commercial banking staff regarding deposit products and services.
Overseeing the overall smooth functioning of the deposit operations department.
Administrative/HR duties for self, i.e. complete assigned training, update/maintain HR required recordkeeping.
Administrative/HR duties for junior staff, i.e. training, counseling, mentoring as needed for junior staff, report any team staffing issues as needed to supervisory/management level, manage team morale, etc.
Prepare daily reconciliation of general ledger and affected accounts.
Prepare any required management reporting as assigned.
Manage job assignments and work schedules of assigned duties.
Stay aware of indicators/red flags, which may necessitate reporting to BSA/FCC Dept.
Communicate any issues encountered, operational or regulatory, to supervising management for providing status information and coordination of resolution.
Comply with Bank’s operational and security procedures/policies and regulatory requirements are adhered to the performance of assigned duties.
Interact with others in a professional, clear manner to communicate key points.
Deposit Support: Escheat – Inactive & Dormant Regulation O
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 Reg E Claims Resolution
Debit Card maintenance, including network notification of compromise
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
Support C&I: monitoring/reviewing of RDC of C&I client accounts
Deposit Servicing Branch GL certification review
Branch operations exception/out of spec activity review, includes but not limited to Reg D, Chargebacks, Branch Cash Limits, etc.
Administer IRA accounts
Verification of Deposits
Returned Mail Handling
Support Treasury for Brokered/Institution Deposit Account Onboarding and Processing of CDARS & ICS accounts onboarding on vendor system
Deposit Operations Support Advisors Call Center for primarily branch (Retail Banking), but also for all business units, on questions related to policies, procedures, and regulations
Support for Retail Strategy in development of new products and services and strategy by acting as coordinator between IT and Legal
Spec/work requests and testing for: creation and changes and deletions to Core, BPM, and Beni
Coordination with Compliance
Communication of changes with affected stakeholders
Executive management reporting
Support Deposit Services, QA teams
ChexSystem audit coordination

Responsibilities

Managing the day-to-day operations of a bank's deposit accounts.
Ensuring the accuracy and efficiency of transactions.
Maintaining compliance with banking regulations.
Providing support to retail and commercial banking staff regarding deposit products and services.
Overseeing the overall smooth functioning of the deposit operations department.
Administrative/HR duties for self, i.e. complete assigned training, update/maintain HR required recordkeeping.
Administrative/HR duties for junior staff, i.e. training, counseling, mentoring as needed for junior staff, report any team staffing issues as needed to supervisory/management level, manage team morale, etc.
Prepare daily reconciliation of general ledger and affected accounts.
Prepare any required management reporting as assigned.
Manage job assignments and work schedules of assigned duties.
Stay aware of indicators/red flags, which may necessitate reporting to BSA/FCC Dept.
Communicate any issues encountered, operational or regulatory, to supervising management for providing status information and coordination of resolution.
Comply with Bank’s operational and security procedures/policies and regulatory requirements are adhered to the performance of assigned duties.
Interact with others in a professional, clear manner to communicate key points.
Deposit Support: Escheat – Inactive & Dormant Regulation O
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 Reg E Claims Resolution
Debit Card maintenance, including network notification of compromise
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
Support C&I: monitoring/reviewing of RDC of C&I client accounts
Deposit Servicing Branch GL certification review
Branch operations exception/out of spec activity review, includes but not limited to Reg D, Chargebacks, Branch Cash Limits, etc.
Administer IRA accounts
Verification of Deposits
Returned Mail Handling
Support Treasury for Brokered/Institution Deposit Account Onboarding and Processing of CDARS & ICS accounts onboarding on vendor system
Deposit Operations Support Advisors Call Center for primarily branch (Retail Banking), but also for all business units, on questions related to policies, procedures, and regulations
Support for Retail Strategy in development of new products and services and strategy by acting as coordinator between IT and Legal
Spec/work requests and testing for: creation and changes and deletions to Core, BPM, and Beni
Coordination with Compliance
Communication of changes with affected stakeholders
Executive management reporting
Support Deposit Services, QA teams
ChexSystem audit coordination