Deposit Operations Specialist

bankESB•Oxford, MA

About The Position

This role is responsible for meeting or exceeding customer service standards, accurately completing daily tasks in a timely manner, and acquiring in-depth knowledge of all Bank products and services, deposit account regulations, procedures, and policies. The specialist will exercise discretionary decision-making to resolve account or transaction-related matters, maintain awareness of unusual account activity, and escalate suspicious behavior. The position involves processing various exception items, making pay/no pay decisions, handling adjustments, managing the OOPS program, monitoring reports, and collaborating with Cash Management. Additionally, the role includes quality reviewing new deposit accounts, account maintenance, and documentation to ensure accuracy and compliance. The specialist will also handle research requests, resolve account issues, complete GL balancing and reconciliations, and identify opportunities for process improvements. Participation in system testing and training, completing daily tracking worksheets, adhering to internal controls and regulatory guidelines, and performing other related duties as assigned are also key aspects of this position. Ensuring compliance with Federal and State laws and regulations, protecting customer information, and adhering to security policies are paramount.

Requirements

High School diploma or equivalent required.
One to two years of banking experience preferred.
Knowledge and understanding of the Bank’s retail and business products and services.
Able to adapt to current and evolving technology and regulatory requirements.
Excellent customer service and organizational skills, strong analytical and problem-solving skills, works well under pressure, is detail oriented, takes ownership, is accountable and is flexible.
Enjoy working in a team environment.

Nice To Haves

One to two years of banking experience preferred.

Responsibilities

Performs any functions necessary, within scope of authority and expertise, to provide the highest level of ownership, accountability, accuracy, and responsiveness to internal and external customers.
Responsible for meeting or exceeding customer service standards that are set forth by the bank’s core values.
Responsible for taking responsibility and accountability for the accurate completion of daily tasks in a timely manner. When applicable, initiate contact with the customer to verify questionable transactions and/or branch to verify account and CIF maintenance.
Accountable to acquire, maintain and employ in-depth knowledge of all Bank products and services, deposit account regulations, procedures and policies, and corresponding technology, in order to provide efficient and accurate processing of deposit accounts, maintaining compliance and supporting external and internal customers. Review memos and procedures as needed, attend training and staff meetings as requested.
Responsible for exercising discretionary decision-making, interpretation of guidelines and bank policies, determination of customer impact and risk to the bank to resolve account or transaction related matters in the best interest of the customer and the bank. Escalate complex or high-risk issues to management as appropriate.
Maintain a constant awareness of unusual account and CIF maintenance and transaction activity. Take appropriate action and escalate any suspicious account activity for suspicious or potentially fraudulent behavior.
Perform a wide variety of duties to complete the daily processing of check and ach exception items, branch pay/no pay decisions, positive pay ACH and check reject decisions, check adjustment, encoding errors, duplicate checks, and returned deposit items.
Process check and ACH adjustment such as invalid account, notice of change, check adjustments/encoding errors, Affidavit of Forgeries, ACH Reclamations, DNE notifications, unauthorized ACH claims, positive pay rejects in accordance with UCC rules and NACHA rules.
Monitor and maintain the bank’s OOPS program which include, but not limited to, collecting and closing overdrawn accounts, review and monitor accounts for eligibility, assign or remove ODP limits, ATM POS OPT In/Out request, higher ODP limit reviews, reporting to APR, and monitoring overdraft recovery GL.
Monitor daily activity reports, CIF and Account maintenance correction workflow folders and process maintenance and/or corrections in the core system.
Collaborate with Cash Management to set-up new Positive Pay customers and maintain existing customers positive pay accounts.
Perform transaction processing and general ledger balancing duties related to In-clearing and ACH G/L reconciliations and other various GL entries.
Receive, monitor and respond to levies, tax warrants, summons of trustees, and other legal monetary requests.
Perform a wide variety of duties to quality review new deposit accounts, account and CIF maintenance as well as supporting documentation to ensure accounts, CIF profiles and documentation are accurately maintained and comply with bank procedures, policies and regulatory requirements.
Monitor quality review workflows in Identifi to ensure timely and accurate completion of daily tasks.
Quality review exception rates and promotional rates to ensure accurate interest rates are assigned at the account level.
To ensure compliance with segregation of duties, submit discrepancies/errors to Deposit Operations Processor for correction.
Receive and respond to research requests and deposit account verifications within specified time frame.
Research and resolve routine to complex account and transaction issues for internal and external customers.
Receive and respond to Subpoenas and other legal research requests within the stated time frame.
Complete General Ledger (GL) balancing, reconciliations.
Identify opportunities for process improvements, efficiency gains, and risk mitigation.
Participate in testing, training, and implementation of system or process enhancements.
Complete daily tracking worksheets to support departmental reporting and metrics.
Adhere to established internal controls and operational procedures and perform all duties in accordance with processing deadlines and prescribed regulatory compliance guidelines.
Perform other related duties as assigned. Serve as backup for other Deposit Operations functions as needed.
Ensure compliance with Federal and State laws and regulations, including but not limited to the Bank Secrecy Act, GLBA, Information Security Acceptable Use Policy, Regulation D, Regulation DD, NACHA rules, Regulation E, Regulation CC and UCC as well as bank policies and procedures.
Protect the confidentiality of non-public customer information (NPCI) and the security of our information technology resources. Adhere to the Bank’s Acceptable Use Policy, participate in security awareness training and successfully pass social engineering testing which are designed to provide the education necessary to enable employees to keep the bank secure. Employee awareness and vigilance are required in following these best cyber security practices and are the most effective weapon we have against cyber threats and fraud.
The Bank encourages participation in a community development service within the Bank’s assessment area. Community development encompasses affordable housing and community services that target low to moderate income individuals and activities that revitalize or stabilize targeted low to moderate income neighborhoods. Community development services must be related to providing a financial service or use the financial expertise of the bank employee. Examples include: Offering accounting skills to a local charitable organization that serves low to moderate income individuals, Performing bookkeeping services for low to moderate income seniors, Teaching a financial literacy program for low to moderate income school children, Fundraising on behalf of a local or state agency that provides services and/or programs targeting low- or moderate-income individuals, Activities that revitalize or stabilize low- or moderate-income areas, Encourages CRA qualified volunteerism.