Senior Deposit Servicing Representative

Job Description

Job Description

The Senior Deposit Servicing Representative is responsible for performing advanced deposit servicing functions across a broad range of products and processes, including Share (Savings), Draft (Checking), Certificates, IRAs, Trust Accounts, exception management, regulatory and legal processing, and unclaimed property escheatment. This role supports members and internal business partners through multiple service channels, ensuring the timely, accurate, and compliant resolution of inquiries, transactions, and account servicing requests. Monitors daily operational activities to mitigate risk, maintain regulatory compliance, and ensure adherence to credit union policies and procedures.

As a senior subject matter expert, the role serves as a primary escalation point for complex issues involving deposit servicing, exception processing, risk controls, regulatory requirements, and account maintenance. The position applies extensive knowledge of credit union systems, NCUA regulations, federal and state requirements, and operational best practices to resolve issues and support organizational objectives.

The Senior Deposit Servicing Representative also contributes to operational excellence by identifying process improvement opportunities, supporting change initiatives, and enhancing service quality and efficiency. Success in this role requires strong analytical and problem-solving skills, sound judgment, attention to detail, and the ability to adapt to evolving business needs, systems, and regulatory environments. Additionally, the senior may support training, coaching, and mentoring activities to strengthen team capabilities and serve as part of the development path toward a lead or supervisory position.

Key Responsibilities

Service Delivery and Member Escalation

• Serve as the senior subject matter escalation point for complex member inquiries, multi-step servicing matters, and operational issues.
• Review and approve large-dollar checks (> $5,000) for pay/return decisions.
• Process chargebacks, returned items, and maintain exception reporting logs.
• Review ATM, ITM, and mobile deposits for accuracy; initiate member outreach for exceptions.
• Manage mobile deposit tiers and exception queues; monitor Early Federal Reserve return notifications.
• Apply Regulation CC holds using judgment based on item risk and member history.
• Identify and escalate suspicious or fraudulent items to Deposit Fraud and BSA teams.
• Ensure compliance with Regulation CC, Regulation E, NACHA, UCC, Hawaii levy rules, and internal policies.
• Resolve complex documentation discrepancies and provide subject matter guidance to the Member Solutions Center, branch teams, and other internal stakeholders.
• Process member death notifications, conduct estate handling, coordinate with executors and personal representatives, and apply NCUA share insurance, beneficiary, and payable-on-death rules.
• Coordinate cross-functionality with Payments, Risk, Compliance, Information Technology, and the Member Solutions Center on multi-touchpoint servicing matters that require integrated resolution.
• Support new product launches and system implementations by representing Deposit Servicing requirements during user acceptance testing and post-launch monitoring.
• Manage time-sensitive servicing matters that require interpretation of credit union policy, regulatory guidance, or legal documentation.

Risk Control and Fraud Mitigation

• Manage Overdraft and Courtesy Pay programs including Courtesy Pay Negative Charge-Off Today, Courtesy Pay Exceptions, and Periodic Review of overdraft shares in alignment with credit union policy and regulatory expectations.
• Identify control gaps in deposit servicing workflows, recommend remediation actions, and document outcomes for review by the Deposit Servicing Manager.
• Apply Regulation CC report review procedures, document outcomes, and partner with Fraud staff on suspicious activity referrals and loss-prevention follow-through.
• Support non-loan write-off and recovery processes co-owned with the Fraud department, ensuring restitution activity aligns with policy and controls are documented.
• Validate and process complex disputes, chargebacks, and adjustments that exceed the Deposit Servicing Representative authority, including multi-party shared branch matters and cross-institution claims.
• Conduct second-level review of high-risk transactions, identifying control breakdowns and recommending control enhancements to the Senior Program Manager.

Regulatory Processing and Compliance Reporting

• Prepare and submit tax reporting and regulatory filings (1099-INT, 1099-R, 5498, 1042 IRS levy responses, IRS backup withholding) within statutory deadlines and reconcile filings against core system data.
• Process all account restrictions, legal orders, and compliance-driven actions including Garnishments, IRS Levies, CSEA Levies, State of Hawaii Levies, and Distraint Warrants within statutory deadlines.
• Manage escheatment and unclaimed property processes including dormancy tracking, due diligence outreach, and remittance to the State of Hawaii in accordance with Hawaii unclaimed property statute.
• Generate compliance reporting and assist with audit, examination, and internal review requests through evidence preparation, walkthrough support, and remediation tracking.
• Maintain examination readiness through documented controls, complete records, and timely response to NCUA, state, and external auditor requests on regulatory matters within scope.
• Monitor regulatory and policy changes affecting assigned functions, communicate updates to Deposit Servicing I staff, and update working procedures and job aids accordingly.

Process Improvement and Automation Support

• Support automation workflow design, user acceptance testing, exception handling, and post-implementation monitoring for Deposit Servicing-related processes including Robotic Process Automation and system-driven workflows.
• Maintain and update standard operating procedures, job aids, and process documentation aligned with industry best-practice frameworks for deposit servicing operations.
• Recommend technology, control, and workflow improvements to the Deposit Servicing Manager based on exception trends, member feedback, and operational metrics.
• Participate in cross-functional projects including new product launches, system implementations, and regulatory change initiatives as Deposit Servicing subject matter expert.

Coaching and Knowledge Transfer

• Coach Deposit Servicing staff on advanced servicing scenarios, procedural exceptions, and regulatory interpretation during the course of daily operations.
• Support new hire training, contribute to job aid development, and participate in onboarding for newly transitioned work from branches and other departments.
• Document tribal knowledge in accessible standard work and reference materials to accelerate Deposit Servicing Representative ramp time and reduce single-points-of-failure on critical processes.
• Provide subject matter guidance to peer departments on Deposit Servicing capabilities, constraints, and integration touchpoints during cross-functional initiatives.

Deposit Processing

• Oversee daily check deposits and payments received via mail and internal sources.
• Post draft items and prepare files for Federal Reserve transmission.
• Process stop payments, account adjustments, and specialized transactions with proper authorization.
• Complete check adjustments and coordinate with external institutions for resolution.

Account and Records Maintenance

• Perform updates for address, name, SSN, and verify documentation for accuracy.
• Complete Verification of Deposit and income verification requests.
• Reactivate dormant accounts with CIP and OFAC checks.
• Support online banking maintenance and follow up on returned payments.
• Assist front-line staff with trust account setup and documentation review.
• Support trust account setup by reviewing documentation and guiding front-line staff.

Document Imaging

• Scan, index, and verify member documents to maintain imaging standards.
• Oversee the destruction and purging process for paper and electronic records that fall under Deposit Servicing while adhering to Internal record retention requirements and external regulations.

Mail and Courier Processing

• Sort and process incoming/outgoing USPS mail, remittance payments, and return mail.
• Sort courier bags and resolve discrepancies.

Workflow and Leadership Support

• Serve as backup to the manager for workflow coordination during peak periods or absences.
• Monitor cutoffs, distribute work, and ensure SLA completion.
• Create and update job aids and standard operating procedures.
• Support new hire training and coach team members on complex items.
• Recommend improvements for automation, risk control, and service quality.

Exception Management and Operational Oversight

• Conduct exceptions monitoring and reporting across the established report inventory, including Certificate Errors and Exceptions, Mail Code Exception Report, Rate Exception Report, Maturity Disbursement Exception Report, Closed Share Activity Report, New Share Activity Exception Report, Box Report Exceptions, and the New Share Activity Audit Report
• Monitor cutoffs, distribute work, and ensure service-level completion during peak periods or absences; serve as backup to the Deposit Servicing Manager for workflow coordination
• Generate operational reports, contribute insights to performance dashboards, and translate exception trends into improvement recommendations.
• Process specialized back-office items including A9 transactions, certificate maintenance exceptions, and complex account corrections in accordance with documented procedures.
• Reconcile high-volume operational accounts, resolve aged variances in collaboration with Finance and Accounting, and document outcomes for audit support.

Performance Expectations 

• Complete assigned tasks within daily deadlines while maintaining high accuracy.
• Maintain confidentiality and adhere to all credit union policies and regulatory requirements.
• Demonstrate independence, accountability, and contribute to team success.

Competencies

• Member Focus
• Collaborating with Others
• Fostering Communication
• Quality Focus
• Problem Solving
• Digital Literacy
• Analytical Thinking
• Agility
• Attention to Detail
• Information Gathering and Processing
• Initiative
• Planning and Organizing

Job Skills

• Microsoft Office 365 applications
• Banking Regulations
• Fraud Detection and Control
• Technical Writing
• Time Management
• Fostering Learning and Development
• Project Management
• Product and Technical Knowledge
• Risk Management Practices

Qualifications & Experience

• Demonstrated experience handling exception items, legal processing, regulatory filings (tax, escheatment, levies), or estate and trust matters within a regulated financial institution.

Preferred Qualifications & Experience

• Three to four years of experience in financial services with demonstrated breadth across deposit servicing, payments, exception management, or compliance functions preferred.
• Demonstrated experience coaching peers, contributing to process improvement or automation initiatives, and supporting audit and examination activity is strongly preferred.
• No certifications required; relevant credit union and banking certifications (e.g., NCCO, BSACS, CUNA-CUCE, NCP) are valued and encouraged with the credit union’s support.
• High School Diploma or equivalent required.
• Business bachelor's degree or related field preferred; equivalent professional experience considered.

Minimum Physical Requirements

• Sitting for prolonged periods at a desk working on a computer.