Deposit Operations Specialist

Job Description

Job Description

Position Summary:

Under the direction of Operations Management and in accordance with policies and procedures established by Lake Shore Bank, the Deposit Operations Specialist is responsible for supporting and executing operational functions and maintaining adherence to both regulatory and internal controls established by the bank related to deposit accounts and payment systems. This role ensures the accurate, timely, and compliant processing of transactions across multiple platforms, including ACH, online banking, wire transfers, item processing, debit card services, merchant services, and emerging payment technologies.

The Deposit Operations Specialist contributes to a controlled and compliant operating environment by adhering to established internal controls, bank policies, and applicable regulatory requirements, while proactively identifying efficiencies and opportunities to streamline and automate processes.

Primary Duties & Responsibilities:

• Perform daily operational functions supporting deposit and payment activities, including ACH processing, wire transfers, item processing, and digital banking services
• Process, review, and monitor transactions to ensure accuracy, timeliness, and compliance with established internal controls and service level standards
• Support electronic banking platforms, including online banking and related services, by maintaining user access, performing troubleshooting, and resolving operational issues

• Execute wire transfer processing, verification, and callback procedures in accordance with established internal controls and fraud prevention standards.

• Process and balance check and item transactions, including exception handling, adjustments, and reconciliation activities
• Administer debit card and ATM services, including maintenance, transaction review, and resolution of cardholder issues
• Support merchant services operations, including onboarding assistance, maintenance, and transaction-related inquiries
• Review ACH activity, including file processing, exception items, returns, and notifications of change, in accordance with applicable rules and internal procedures

• Assist with ACH origination administration, including customer setup, exposure limit monitoring, file review, risk assessment, and ongoing compliance with NACHA Operating Rules
• Monitor ACH activity for unusual patterns, exception conditions, duplicate files, and potential fraud indicators
• Ensure compliance with the Bank ACH Policy, NACHA Operating Rules, BSA/AML requirements, Regulation E, Bureau of Fiscal Service Green Book requirements, and other applicable regulatory guidance

• Process and manage Regulation E (Electronic Fund Transfer Act) disputes, including intake, investigation, documentation, provisional credit determination, and resolution within required regulatory timeframes, ensuring compliance with disclosure and error resolution requirements
• Identify, investigate, and resolve operational discrepancies, exceptions, and customer-impacting issues in a timely and controlled manner

• Maintain complete and accurate records, supporting documentation, and audit trails to facilitate internal audits, external audits, regulatory examinations, and management reviews.
• Support periodic internal control reviews, user access reviews, and operational certifications to ensure adherence to regulatory requirements, audit expectations, and bank policies.

• Monitor transactional activity and escalate suspicious or unusual activity in accordance with BSA/AML and fraud prevention protocols
• Collaborate with internal departments and lines of business to facilitate issue resolution and ensure consistent service delivery
• Support the implementation, enhancement, and ongoing maintenance of banking systems, products, and emerging payment technologies
• Identify opportunities for process improvement, efficiency gains, and automation while maintaining appropriate control structures
• Act as backup to Call Center when necessary.
• Complete additional operational tasks and projects assigned by management.

Minimum Qualifications:

• Minimum 5 years of banking, branch operations, call center, or related financial institution experience. 
• Accredited Automated Clearing House Professional (AAP) certification preferred, or ability to obtain within one year of hire

Skills and Abilities Required:

• Strong understanding of banking operations, deposit products, and payment systems, including ACH, wire transfers, item processing, and digital banking services 
• Working knowledge of applicable regulations and industry standards, including NACHA Operating Rules, Regulation E, Regulation CC, BSA/AML, and OFAC requirements 
• Demonstrated ability to apply internal controls and risk mitigation practices in a transaction-processing environment 
• High level of accuracy and attention to detail, with the ability to identify discrepancies and resolve exceptions in a timely manner 
• Strong analytical and problem-solving skills, with the ability to research and interpret transactional issues and system data 
• Effective time management and organizational skills, with the ability to manage multiple priorities and meet established deadlines 
• Ability to work both independently and collaboratively across departments and lines of business 
• Strong written and verbal communication skills.
• Strong customer focus, including ability to perform outreach to and filter inquiries from external customers. 
• Adaptability to evolving technologies, systems, and regulatory requirements, including emerging payment methods 
• Demonstrated commitment to continuous learning and professional development
• Strong decision-making, analytical, and investigative skills with exceptional attention to detail and accuracy.

Mandatory Requirements:

• Must maintain a positive work atmosphere by behaving and communicating in a manner so that a positive working relationship with customers, coworkers and managers exist.
• Perform all duties in accordance with the Lake Shore Bank Code of Conduct Policy and all applicable Bank policies and procedures.