Deposit Operations Specialist

OVERVIEW:

The Deposit Operations Specialist is responsible for supporting the daily processing and maintenance of deposit accounts, ensuring accuracy, compliance, and efficiency in all deposit-related transactions. This role plays a key part in the back-office functions of the bank, providing operational support to internal departments and delivering excellent service to customers through accurate and timely processing.

PRIMARY ACCOUNTABILITIES / RESPONSIBILITIES:

1. Process daily ACH & Inclearing exceptions, including incoming and outgoing transactions, returns, reversals, and exceptions.
2. Process daily deposit transactions, including ACH, stop payments, check adjustments, and account maintenance.
3. Process IRS and Commonwealth of MA Levies and Social Security reclamations accordingly.
4. Handle Returned Deposited Items and large dollar notifications.
5. Review and verify the accuracy of account documentation, signatures, and maintenance requests. Quality control review for address, email and phone number changes.
6. Working knowledge of deposit products such as checking, savings, CDs, and IRAs.
7. Familiarity of Abandoned Property, Garnishments (Levies, Writs & Subpoenas)
8. Monitor and resolve exceptions related to deposit activity, returns, or holds.
9. Ensure compliance with federal and state banking regulations (e.g., Reg CC, Reg D, Reg E, Bank Secrecy Act).
10. Respond to internal inquiries from branch personnel and other departments regarding deposit operations procedures and policies.
11. Perform customer research requests.
12. Participate in system updates, testing, and process improvement initiatives.
13. Maintain confidentiality and adhere to all security and privacy procedures.

OTHER ACCOUNTABILITIES / RESPONSIBILITIES

1. Performs related and unrelated duties as may be assigned.

1. Complete all required regulatory training and other internal training as provided.

POSITION REQUIREMENTS:

• High School Diploma or equivalent
• 1-3 years of banking experience, preferably Deposit Operations

• Strong analytical and organizational skills as well as close attention to detail.
• Have the ability to communicate effectively, orally and in writing, to all levels of responsibility.
• Strong telephone techniques, communication and customer service skills.
• Knowledge of consumer deposit account terms and conditions agreement/disclosure;
• Knowledge of CDs product and IRA products and forms
• Must have a positive attitude and the ability to work in a changing business environment
• Ability to effectively interact with all internal bank organizational levels, external bank consultants, examiners, vendors, and internal and external bank customers.
• Ability to take initiative in finding solutions to difficult and/or sensitive problems
• Exceptional attention to detail, organizational skills, and ability to manage multiple deadlines.
• Proficiency with banking systems, and Microsoft Office applications.
• AAP (Accredited ACH Professional) certification preferred or willingness to obtain.

SUPERVISORY SCOPE

NA

WORK ENVIRONMENT:

Work environment consists of typical office conditions with moderate noise level. Maintains a schedule consisting of in office and remote work (Remote work mirrors company-wide requirement and is subject to change).

PHYSICAL QUALIFICATIONS:

Candidate must have the physical ability to sit, stand, walk, talk and hear. Must be able to lift up to 10 pounds. Must have the ability to adjust focus.

INDEPENDENT ACTION:

Performs work within established guidelines and according to specific procedures.


Refer any issues to the appropriate immediate supervisor.


QUALIFICATIONS:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Any physical demands or work conditions described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities.