Deposit Support Team Lead

Saco & Biddeford Savings Institution•Saco, ME

About The Position

The Deposit Support Team Lead is an officer-level position responsible for leading the Bank’s Deposit Support operations with a primary focus on retirement products, quality control, regulatory compliance, and dormant account and unclaimed property processes. This role combines strong technical expertise with people-centered leadership, fostering a collaborative, accountable, and service-oriented team environment. The Team Lead serves as a trusted resource for employees and internal partners, ensuring work is performed accurately, ethically, and in alignment with the Bank’s values and commitment to exceptional customer service. Essential Functions: Leadership, Cultures and Team Development: Leads the Deposit Support team with a people-first mindset, promoting accountability, collaboration, and continuous improvement. Creates a supportive and inclusive team environment where employees feel respected, heard, and empowered to perform at their best. Provides coaching, training, and constructive feedback to support individual growth and team success. Assigns work thoughtfully, balancing workloads while supporting accuracy, timeliness, and employee well-being. Models professionalism, integrity, and respect in all interactions with team members, branches, departments and vendors. Operational Leadership & Oversight: Leads the daily workflow of the Deposit Support team, ensuring accurate, timely, and compliant processing of deposit, and retirement-related activities. Serves as the primary escalation point for complex deposit, IRA, and HSA issues. Oversees quality control of data entry and documentation for new accounts, account maintenance, closures, and retirement transactions. Quality Control, Risk & Collaboration: Ensures timely identification, escalation, and resolution of errors or exceptions that may impact compliance or customer experience. Maintains a strong working knowledge of federal and state banking regulations and ensures adherence to Bank policies and procedures. Partners collaboratively with Retail, Operations, Compliance, and Information Services to support consistent and effective deposit operations. Supports audits, regulatory exams, and internal reviews with professionalism and transparency. Documentation & Operational Support: Oversees the maintenance of Deposit Support procedures, checklists, and reference materials. Provides guidance and operational support to branch staff and internal departments related to deposit and retirement products. Oversees or supports administrative and quality control functions for programs such as CDARS and QwickRate. Implements deposit rate changes through system updates, rate sheet revisions, and website maintenance. Retirement Products & Regulatory Compliance: Serves as the Bank’s operational subject matter expert for IRA and HSA products. Oversees retirement account administration, including contributions, distributions, rollovers, transfers, withholding maintenance, corrections, and required customer notification. Ensures timely and accurate completion and review of retirement-related tax reporting and filings, including 1099-R, 1099-SA, 5498, and 5498-SA. Maintains accountability for semi-annual and annual retirement-related mailings and disclosures. Ensures retirement system parameters and reference materials are reviewed and updated annually. Dormancy & Unclaimed Property (Escheatment): Oversees dormant account and safe deposit box processing in accordance with applicable state regulations. Coordinates annual unclaimed property due diligence, reporting, and escheatment. Ensures accurate documentation, record retention, and audit readiness related to dormancy and escheatment. Serves as a knowledgeable and responsive point of contact for dormancy and unclaimed property inquiries. Other duties or special projects assigned: Interacts harmoniously, professionally, cordially and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork. Strong ability to perform in a fast paced, time sensitive environment. Proven ability to adapt to changes in priorities quickly and deliver quality work during times of increased volumes. Strong written and verbal communication, interpersonal, time management and organizational skills. Operational competency using Microsoft Office and other Windows based applications; comfortable learning new software. Possess a high level of accuracy and ability to pay close attention to detail. Ability to work independently and as a team player. Exceptional problem-solving and organizational abilities. Ability to manage multiple priorities and projects in a fast-paced environment. Strong attention to detail and commitment to compliance. Able to work harmoniously, professionally, cordially, and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork. Ability to travel to Bank locations and occasionally attend vendor meetings or industry events.

Requirements

High school diploma or equivalent required.
Associate’s or Bachelor’s degree in Business, Finance, or a related field preferred.
3–5 years in banking deposit operations or deposit support.
Direct experience administering retirement products (IRAs and HSAs) and managing related regulatory reporting.
Experience overseeing dormant accounts and unclaimed property (escheatment) processes.
Proven ability to lead, mentor, or provide oversight to a team.
Demonstrated success managing multiple priorities, meeting deadlines, and ensuring operational accuracy.
Deposit & Retirement Expertise: Knowledge of deposit operations, IRAs, HSAs, and regulatory requirements.
Compliance & Risk Management: Ensures accuracy, quality control, and adherence to regulations.
Team Leadership: Ability to coach, develop, and guide a high-performing team.
Operational Excellence: Strong problem-solving, organization, and process improvement skills.
Communication & Collaboration: Clear, effective communication and cross-departmental collaboration.
Interacts harmoniously, professionally, cordially and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork.
Strong ability to perform in a fast paced, time sensitive environment.
Proven ability to adapt to changes in priorities quickly and deliver quality work during times of increased volumes.
Strong written and verbal communication, interpersonal, time management and organizational skills.
Operational competency using Microsoft Office and other Windows based applications; comfortable learning new software.
Possess a high level of accuracy and ability to pay close attention to detail.
Ability to work independently and as a team player.
Exceptional problem-solving and organizational abilities.
Ability to manage multiple priorities and projects in a fast-paced environment.
Strong attention to detail and commitment to compliance.
Able to work harmoniously, professionally, cordially, and effectively with others, focusing upon the attainment of bank goals and objectives through a commitment to teamwork.
Ability to travel to Bank locations and occasionally attend vendor meetings or industry events.

Nice To Haves

Associate’s or Bachelor’s degree in Business, Finance, or a related field preferred.

Responsibilities

Leads the Deposit Support team with a people-first mindset, promoting accountability, collaboration, and continuous improvement.
Creates a supportive and inclusive team environment where employees feel respected, heard, and empowered to perform at their best.
Provides coaching, training, and constructive feedback to support individual growth and team success.
Assigns work thoughtfully, balancing workloads while supporting accuracy, timeliness, and employee well-being.
Models professionalism, integrity, and respect in all interactions with team members, branches, departments and vendors.
Leads the daily workflow of the Deposit Support team, ensuring accurate, timely, and compliant processing of deposit, and retirement-related activities.
Serves as the primary escalation point for complex deposit, IRA, and HSA issues.
Oversees quality control of data entry and documentation for new accounts, account maintenance, closures, and retirement transactions.
Ensures timely identification, escalation, and resolution of errors or exceptions that may impact compliance or customer experience.
Maintains a strong working knowledge of federal and state banking regulations and ensures adherence to Bank policies and procedures.
Partners collaboratively with Retail, Operations, Compliance, and Information Services to support consistent and effective deposit operations.
Supports audits, regulatory exams, and internal reviews with professionalism and transparency.
Oversees the maintenance of Deposit Support procedures, checklists, and reference materials.
Provides guidance and operational support to branch staff and internal departments related to deposit and retirement products.
Oversees or supports administrative and quality control functions for programs such as CDARS and QwickRate.
Implements deposit rate changes through system updates, rate sheet revisions, and website maintenance.
Serves as the Bank’s operational subject matter expert for IRA and HSA products.
Oversees retirement account administration, including contributions, distributions, rollovers, transfers, withholding maintenance, corrections, and required customer notification.
Ensures timely and accurate completion and review of retirement-related tax reporting and filings, including 1099-R, 1099-SA, 5498, and 5498-SA.
Maintains accountability for semi-annual and annual retirement-related mailings and disclosures.
Ensures retirement system parameters and reference materials are reviewed and updated annually.
Oversees dormant account and safe deposit box processing in accordance with applicable state regulations.
Coordinates annual unclaimed property due diligence, reporting, and escheatment.
Ensures accurate documentation, record retention, and audit readiness related to dormancy and escheatment.
Serves as a knowledgeable and responsive point of contact for dormancy and unclaimed property inquiries.