Deposit Operations Specialist

Midland States Bank•O'Fallon, MO

4d•Hybrid

About The Position

This position falls within Deposit Operations, the operational unit primarily responsible for CIF & document management, CIF, account & debit card maintenance, safe deposit management, exception item processing (including unposted items, NSF items, stops, and overdrafts), check adjustments & chargebacks, fraud monitoring (Debit card), debit card disputes and compromised cards, mobile deposits, Reg D monitoring, year-end processing, Foxtrot management and ad hoc reports, audits, CD/IRA management, and Sweep Repurchase accounts.

Requirements

Associates degree OR 1-3 years or more of relevant banking experience in related area.
Proficient in Microsoft Office Suite.
Good understanding of Reg E and meets all timeframes as outlined within this regulation.
Possess good knowledge of CD/IRA core module.
Maintains a thorough understanding of the bank’s deposit products, deposit transactions codes and other appropriate deposit settings and related functionality.
Works independently and requires minimum manager oversight.
Maintains compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).

Nice To Haves

Able to develop, publish and run foxtrot scripts as needed.
Assists with conversion process as needed.
Assists with the resolution of system/processing issues.
Considered a subject matter expert on one or more bank products.

Responsibilities

Verifies maintenance transactions as defined by procedure.
Reviews checking, savings, money market, NOW, safe deposit, debit card and CD/Time Deposit standard reports and processes.
Inputs corrections for minor issues/discrepancies as discovered.
Escalates questionable transactions, unresolved, and recurring issues to management in a clear and timely manner.
Validates stop payments added to the system to ensure they are complete; Corrects input as needed.
Handles the daily processing and balancing of exception items which includes both paid and returned NSF items, unposted items and check adjustments.
Handles the daily processing of debit card fraud claims.
Reviews daily fraud alerts for potential fraud patterns and trends.
Processes mobile deposit corrections and meets timelines for file submission.
Processes general ledger and account level monetary transactions as required.
Researches and resolves issues that surface on customer deposit accounts.
Observes all security, privacy and compliance requirements.
Supports the sweep repurchase product on a daily basis and confirms customer notifications are precise and timely.
Monitors excessive transaction activity (Reg D) on deposit accounts and handles violations according to procedure.
Creates appropriate customer communications and performs maintenance to accounts as required.
Manages year-end processing and reporting which includes escheatment, B notices and tax corrections.
Develops, publishes and runs foxtrot scripts as needed.
Generates ad hoc reports upon request.
Manages requests for audit documentation as needed.
Performs quality assurance and mailing of CD/IRA interest and distribution checks.
Completes returned mail processing.
Processes CSI Miami repurchase agreement accounts and e-notice generation to customers for securities allocation.
Scans foreign checks received from branches to TIB for collection processing.
Maintains a thorough understanding of the bank’s deposit products, deposit transactions codes and other appropriate deposit settings and related functionality.
Manages Lawyer Trust Fund reporting.
Validates IRA distributions to ensure accurate customer reporting.
Assists with conversion process as needed.
Assists with the resolution of system/processing issues.
Works independently and requires minimum manager oversight.
Considered a subject matter expert on one or more bank products.
Requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.
May require work in a Midland office to ensure collaboration and support of internal and external customers.
Maintains compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
Other duties as assigned.