Deposit Product Operations Specialist

ConnectOne Bank•Union, NJ

17h•Hybrid

About The Position

The Deposit Product Operations Specialist is responsible for supporting the operational execution, servicing, and compliance of the Bank’s deposit products, with a focus on Individual Retirement Accounts (IRAs) and wire transfer operations. This role ensures the accurate processing, documentation, and regulatory adherence of both IRA and payment activities while serving as a key partner across Deposit Operations, Compliance, Retail, and Treasury functions. The position requires strong technical expertise, attention to detail, and the ability to manage risk in a deadline-driven environment.

Requirements

Strong “People First” interest and ability.
Working knowledge of IRA regulations, documentation, and reporting requirements
Working knowledge of wire transfer processing (domestic and international)
Understanding of key banking regulations including OFAC, Reg E, Reg J, and IRS requirements
Familiarity with core banking and payment platforms (e.g., FIS, Fedwire preferred)
Strong analytical and problem-solving capabilities
High attention to detail with strong organizational discipline
Effective communication skills across business lines
Proficiency in Excel, Word, and banking systems

Nice To Haves

5+ years of banking or financial services experience (IRA, or deposit operations preferred)
Experience with IRA servicing and/or wire operations strongly preferred

Responsibilities

Support the Bank’s “People First” focus and rules of engagement—maintaining a professional demeanor, working as an active member of the CNOB team, providing clients excellent service, always striving to make CNOB “A Better Place to Be”
Review and process IRA transactions and wire transfers to ensure accuracy, completeness, and compliance with internal policies and regulatory requirements
Validate IRA account setup, funding, maintenance, and documentation to ensure adherence to IRS guidelines
Process and review incoming and outgoing domestic and international wires, including approvals, releases, and reconciliations
Perform OFAC screening, regulatory checks, and fraud monitoring across all applicable transactions
Review daily activity reports for both IRA and wire operations to identify discrepancies, exceptions, or errors
Support IRA tax reporting and withholding activities, including validation of applicable forms and submissions
Handle wire investigations, including recalls, amendments, trace requests, and resolution of payment exceptions
Respond to internal inquiries related to IRA servicing and wire processing, providing guidance to Retail and Operations teams
Maintain proper documentation, audit trails, and record retention for all transactions
Perform daily balancing and reconciliation of assigned operational functions
Ensure compliance with all applicable regulations, including IRS rules, OFAC requirements, Reg E, Reg J, and internal policies
Identify and escalate potential fraud, operational risk, or control gaps
Support internal audits, compliance reviews, and regulatory examinations
Contribute to ongoing enhancement of controls, procedures, and operational workflows

Benefits

World class health, vision, and dental benefits on day one
401k with employer match
Hybrid work from home (depending on role)
Employee appreciation events (team building, softball games, food truck days, etc..)
Employee assistance programs (EAP)
Wellness programs (flu shot, preventive care, health programs and services discounts, etc..)
Tuition reimbursement
Employee Discount perks
CNOB Community Service Events
….and much, much more!