Deposit Operations Specialist II

Spencer Savings Bank•Elmwood Park, NJ

About The Position

BASIC FUNCTION Responsible for daily operational functions including exception item review/reprocessing, return deposited item handling, ACH returns/reclamations, Fed adjustments, and reconciliations. Daily processes such as account opening, account maintenance, disputes, third party verifications, check distributions, and wires. Provide support for deposit products including Retirement Plans, IOLTA, and Escheatment.

Requirements

High School diploma required, College degree or equivalent related experience.
Minimum three years Bank deposit operations required
Strong written and verbal communication skills
Strong time management skills, and attention to detail
Proficiency in Microsoft Office including Outlook, Word, and Excel
Reliability, flexibility, professional etiquette, and sound judgment are important.
Strong analytical capabilities to accurately define problems
Must be familiar with standard concepts of deposit compliance regulations
Must be familiar with NACHA regulations, ACH return codes and standard entry codes
Understanding of reconciliation processes and regulatory compliance requirements

Responsibilities

Maintain a current working knowledge of all functions of a Deposit Operations Specialist I position, including escrow, RDI, IATs, research, Canadian items, Bonds, wires, returned mail, gift cards and adjustments.
Process In-clearings, and ACH Exceptions.
Develop and maintain a strong working relationship with Accounting and Core Support areas to ensure quick resolution to ACH processing issues, exceptions, and adjustments.
Assist with handling garnishments and subpoenas in accordance with legal due dates and privacy regulations
Prepare daily check deposit cash letter proof including scanning and repair of checks and make adjustments.
Provide support for customers on bank Cash Management Services to process NOCs and ROCs and handle Positive Pay exceptions
Review and validate rejected items in OASIS check verification system.
Fulfill foreign currency order purchase requests.
Process IOLTA accounts and monthly remittance to the IOLTA fund.
Act as liaison with Item Processing servicer to ensure timely statement mailings, file transmissions, daily exception item file receipt/processing.
Reconcile assigned general ledger accounts monthly.
Accurately process domestic and international incoming and outgoing wire transfers initiated from multiple channels including financial centers, internal departments, and via the bank’s online banking system.
Process IRA transactions (ex, Transfer requests, decedent accounts, tax form adjustments etc.)
Assist with the daily review of completed IRA documentation for accuracy and compliance to procedures.
Assist with the processing of returned mail.
Complete fraud case investigations, including but not limited to potential loss, prevented loss, actual loss, and recovered loss.
Performs other duties as required.