Deposit Operations QC Specialist

Needham Bank; Needham (MA); On-site; USD 55,000 - 75,000; Full time

Benefits offered by this job

Medical and dental insurance

401(k) with match

Paid time off

Paid holidays

Bonus program

Flexible spending accounts

Vision plan

Life insurance

Disability insurance

Tuition reimbursement

Employee Assistance Program

Job summary

Needham Bank is seeking a Deposit QA professional to ensure compliance and accuracy in deposit account processes. Under the direction of the Deposit QC Manager, you will verify account documentation and provide product knowledge training for deposit accounts and related products.

You will conduct quality control reviews, identify processing errors, and coordinate corrective actions with Operations and partners to reduce risk and improve service levels.

Qualifications

• High school diploma or equivalency is required.
• Two plus years of banking experience is highly preferred.
• Strong background in bank operating policies and regulations related to deposit operations is preferred.

Responsibilities

• Perform daily quality control reviews of deposit account opening, maintenance, monetary, and non-monetary transactions to confirm accuracy and compliance.
• Review IRA account documentation, contributions, distributions, transfers, rollovers, beneficiary changes, required minimum distributions, and tax reporting for completeness and regulatory compliance.
• Audit reports for ACH and Wire processing for signoffs and completeness.
• Verify adherence to bank policies, federal and state regulations, legal title requirements, CIP requirements, and internal controls.

Skills

Attention to detail

Regulatory compliance

IRA knowledge

Audit experience

Problem solving

Education

High school diploma or equivalency

Job description

Job Summary: Under the direction of the Deposit QC Manager, performs all required functions in accordance with regulatory compliance guidelines, with special focus on verification of proper account documentation and product knowledge training of deposit accounts and products. Ensure safety and soundness through adherence to audit, regulatory and procedural guidelines.QualificationsTo perform this job successfully, the individual must be able and willing to perform all essential duties satisfactorily. This document is not intended to be an exhaustive list of all essential duties required. Reasonable accommodations, as determined by management on a case‑by‑case basis, may be made to enable individuals with disabilities to perform essential duties.Essential Duties & Responsibilities

• Perform daily quality control reviews of deposit account opening, maintenance, monetary, and non‑monetary transactions to confirm accuracy, authorization, and compliance with Bank policies and procedures.
• Review IRA account documentation, contributions, distributions, transfers, rollovers, beneficiary changes, required minimum distributions, and tax reporting for completeness and regulatory compliance.
• Audit reports associated with ACH and Wire processing for signoffs and completeness
• Verify adherence to applicable Bank policies, federal and state regulations, legal title requirements, Customer Identification Program requirements, and internal control standards.
• Identify, document, track, and communicate processing errors, exceptions, and control gaps; coordinate corrective action with Operations staff and business partners.
• Monitor remediation of quality control findings and validate that corrections are completed accurately and within established service‑level expectations.
• Maintain quality control logs, exception records, supporting documentation, and management reports that summarize error trends, root causes, and corrective actions.
• Escalate significant, recurring, or time‑sensitive issues to management and assist with incident resolution to reduce operational, compliance, and customer risk.
• Support internal and external audits, regulatory examinations, and compliance reviews by gathering records, responding to requests, and assisting with remediation activities.
• Review procedures and controls for effectiveness; recommend process improvements, system enhancements, and workflow changes that strengthen accuracy, efficiency, and risk management.
• Assist with the development and maintenance of departmental procedures, job aids, quality standards, and training materials.
• Provide coaching and cross‑training based on quality review findings and serve as a subject‑matter resource for IRA, CIP regulations, and Deposit accounts
• Stay current on changes to deposit operations regulations, industry rules, products, systems, and Bank policies, and communicate operational impacts to appropriate stakeholders.
• Promote responsive service, sound risk management, teamwork, and adherence to the Bank’s Core Values.
• Perform additional duties as requested, needed, or assigned.

Job Requirements

• Highly motivated, reliable and experienced managing multiple tasks
• Demonstrate and promote high ethical standards and behavior
• Strong problem‑solving skills
• Prior experience with IRAs and rules governing contributions and disbursements
• Knowledge of legal title and CIP requirements
• Adapts and helps others manage change
• Strong computer and technical skills
• Ability and willingness to prioritize functions, workflows and independently complete daily responsibilities
• Ability to build strong relationships and alliances across the organization
• Keen attention to detail and ability to work independently

Education & Experience

• High school diploma or equivalency required
• Two plus years’ banking experience highly preferred
• Strong background in bank operating policies and procedures, banking regulations (state and federal) related to deposit operations field highly preferred

WORKING CONDITIONS/PHYSICAL DEMANDS

• Normal business office environment

The pay range provided is based on what we believe is a reasonable estimate for the pay range for this job at the time of posting. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply. Needham Bank offers a competitive salary and an amazing benefit package for a full‑time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short- and long‑term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part‑time employees as well. At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn’t align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles. Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.