Banking Operations Specialist

Ultimate Staffing Services; Pasadena (CA); On-site; USD 65,000 - 90,000; Full time

Job summary

Ultimate Staffing Services in Pasadena, CA seeks an experienced Operations Support Specialist to run CD, IRA, and Trust operations, manage inactive/dormant and deceased accounts, and handle legal processes with levies, garnishments, and subpoenas.

You will collaborate with attorneys and internal teams, ensure regulatory compliance, and provide advanced support for process improvements and audits within the operations department.

Qualifications

• 3–5 years in banking or financial services focusing on account operations.
• Advanced knowledge of CDs, IRAs, and Trust accounts.
• Experience handling deceased, inactive, and escheatment accounts.
• Experience processing legal documents such as levies, garnishments, and subpoenas.

Responsibilities

• Process CD and IRA openings, renewals, and distributions.
• Maintain records of CD maturities and interest rates.
• Guide on tax reporting and RMD calculations for IRAs.
• Manage setup and maintenance of trust accounts.
• Handle inactive, dormant, and deceased accounts per escheatment rules.
• Respond to legal requests and liaise with legal teams.

Skills

CD/IRA/Trust expertise

Regulatory compliance

Communication skills

Attention to detail

Multitasking

Tools

Banking software

MS Office

Job description

We are seeking an experienced Operations Support Specialist to join our team in Pasadena, CA. This role is critical in supporting key operational functions, with a primary focus on processing Certificates of Deposit (CDs), Individual Retirement Accounts (IRAs), Trusts, and managing complex member account issues. The ideal candidate will possess advanced knowledge of these areas, along with experience in handling inactive, dormant, and deceased member accounts, as well as the legal processing of levies, garnishments, and subpoenas.

Key Responsibilities

• Certificates of Deposit (CDs) & IRAs:
  • Process CD and IRA account openings, renewals, and distributions, ensuring compliance with all federal and state regulations.
  • Maintain accurate records of CD maturities, interest rates, and customer instructions.
  • Provide expertise and guidance on tax reporting and required minimum distribution (RMD) calculations for IRA accounts.
• Trust Accounts:
  • Manage the setup and maintenance of trust accounts in accordance with legal documents and regulatory requirements.
  • Communicate with attorneys, trustees, and beneficiaries regarding account status and documentation needs.
• Inactive, Dormant, & Deceased Accounts:
  • Process and monitor accounts classified as inactive or dormant, ensuring adherence to escheatment rules and regulations.
  • Handle the disposition of accounts of deceased members, working closely with estates, heirs, and legal representatives to ensure proper distribution and closure of accounts.
• Legal Processes:
  • Review and respond to legal requests such as levies, garnishments, and subpoenas in a timely and accurate manner.
  • Liaise with legal teams and external agencies to ensure compliance with court orders and government requests.
  • Maintain detailed records of legal documents and member communications related to these processes.
• General Operational Support:
  • Collaborate with other departments to resolve member account issues and discrepancies.
  • Assist with auditing and quality control to ensure the integrity of member data and adherence to internal policies.
  • Provide advanced-level support for projects related to process improvement, technology updates, or regulatory changes within the operations department.

Qualifications

• Minimum of 3-5 years of experience in banking or financial services, with a focus on account operations and member services.
• Advanced knowledge of processing CDs, IRAs, and Trust accounts.
• Strong understanding of regulatory and compliance requirements related to deceased member accounts, inactive/dormant accounts, and escheatment laws.
• Experience processing legal documents such as levies, garnishments, and subpoenas.
• Exceptional attention to detail, organizational skills, and the ability to manage multiple priorities.
• Strong communication skills and the ability to interact professionally with members, legal representatives, and internal stakeholders.
• Proficiency in banking software and Microsoft Office Suite (Word, Excel).

All qualified applicants will receive consideration for employment without regard to race, color, national origin, age, ancestry, religion, sex, sexual orientation, gender identity, gender expression, marital status, disability, medical condition, genetic information, pregnancy, or military or veteran status. We consider all qualified applicants, including those with criminal histories, in a manner consistent with state and local laws, including the California Fair Chance Act, City of Los Angeles' Fair Chance Initiative for Hiring Ordinance, Los Angeles County Fair Chance Ordinance, and San Francisco Fair Chance Ordinance.