Deposit Operations Specialist II

Spencer Savings Bank; Elmwood Park (NJ); On-site; USD 45,000 - 60,000; Full time

Benefits offered by this job

Holidays

Vacation

Health/Dental

Vision Service Plan

Short Term Disability

Long Term Disability

Life Insurance

Flexible Spending Accounts

401k Savings Plan

Tuition Reimbursement

Employee Assistance Program

Free Employee Checking Account

Job summary

A financial institution in New Jersey is seeking a Deposit Operations Specialist responsible for handling daily banking operations including ACH processing, exception item reviews, and customer support for deposit products. The ideal candidate has at least three years of banking experience, strong analytical and communication skills, and proficiency in Microsoft Office. Benefits include health coverage, 401k, and paid time off.

Qualifications

• Minimum three years in Bank deposit operations required.
• Strong analytical capabilities to define problems.
• Familiarity with NACHA regulations and ACH return codes.

Responsibilities

• Maintain working knowledge of all deposit operations functions.
• Process In-clearings and ACH Exceptions.
• Develop relationships for resolving ACH processing issues.
• Assist with garnishments and subpoenas.
• Prepare daily check deposit cash letters.
• Support customers on Cash Management Services.
• Reconcile general ledger accounts monthly.

Skills

Written and verbal communication skills

Time management skills

Attention to detail

Proficiency in Microsoft Office (Outlook, Word, Excel)

Reliability and flexibility

Analytical capabilities

Familiarity with deposit compliance regulations

Understanding of reconciliation processes

Education

High School diploma

College degree or equivalent related experience

Job description

Overview

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.

MAJOR 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.
• 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.

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.

Education

• High School diploma required, College degree or equivalent related experience.

Skills/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

Benefits

• Holidays
• Vacation
• Health/Dental
• Vision Service Plan
• Short Term Disability
• Long Term Disability
• Life Insurance
• Flexible Spending Accounts
• 401k Savings Plan
• Tuition Reimbursement
• Employee Assistance Program
• Free Employee Checking Account