Depositor Services Processing & Support Specialist I

Fifth Third Bank • Cincinnati, OH

3d

About The Position

The Depositor Services Processing & Support Specialist I performs support functions related to deposit products and customer information, including tax form W-8/W-9 processing, federal and state interest remittance, IOTA/IOLTA processing, ECIF duplicate-suspect review, and other customer information and tax-profile support. The specialist obtains, analyzes, verifies, and enters data into online systems; follows up to obtain missing information; and reviews system data and reports to determine whether customer records need to be combined, changed, or corrected. The role maintains current knowledge of IRS reporting standards and supports an internal call center for financial centers with questions about customer profiles, information reporting, and tax withholding.

The position is accountable for managing risk, following policies and procedures, protecting customer privacy, and supporting a positive customer experience. It works with internal departments and lines of business, performs quality checks, contributes to procedures and training, and participates in user acceptance testing and production testing related to customer information and tax-processing systems.

Requirements

• High school diploma or equivalent.
• Two years of related experience.
• Clear understanding of IRS regulations related to information reporting and tax withholding, including Chapter 3 and Chapter 4 (FATCA) of the IRS code.
• Basic math skills.
• Problem-solving skills.
• General PC navigation in a Windows environment.
• Analytical and organizational skills.
• Ability to work in a fast-paced environment.

Nice To Haves

• Related experience in banking and/or tax processing.
• Systems knowledge of ACE, RAFT, RRS, and Mobius.

Responsibilities

• Process Forms W-8 and W-9, B-Notices, C-Notices, backup withholding, interest remittances to state and federal governments, IOLTA remittances, ECIF duplicate-suspect reviews, IRS reporting, and year-end reporting for customer accounts.
• Obtain, analyze, verify, and enter customer data in online systems, and take appropriate steps to obtain or verify missing information.
• Review system data to identify customer records that need to be corrected, combined, or changed.
• Make internal customer contacts, including inbound and outbound calls to lines of business and banking centers, to obtain or verify information.
• Perform quality-control assessments of customer information and tax-processing workflows.
• Serve as a liaison with departments regarding the status of customer information.
• Service customer records as required in relation to IT and compliance.
• Answer financial center representatives' questions about customer profiles, information reporting, and tax withholding.
• Participate in user acceptance testing and production testing for systems associated with customer information and tax processing.
• Maintain system knowledge and learn new systems and processes as they become available.
• Provide input on new or updated procedures and assist with cross-training and training on departmental processes and functions.
• Use and assist others with systems and programs including ACE, ECIF, Filenet, RAFT, Mobius, Excel, and the IRS website.
• Maintain the privacy of customer information.
• Communicate issues to management and recommend improvements to help minimize future problems.
• Work with corporate tax, financial controls, risk, retail, and other lines of business on issues requiring additional processing, training, or detailed work.
• Consolidate and summarize documents and information.
• Participate in department activities and the team effectiveness plan.
• Perform other duties as assigned.

Benefits

• Comprehensive benefits programs supporting employees' and their families' physical, financial, emotional, and social well-being.
• Differentiated compensation offerings.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED