Deposit Operations Specialist II, Embedded Banking and Account Lifecycle

Thread Bank; Nashville (TN); On-site; USD 65,000 - 90,000; Full time

Job summary

Thread Bank, a digital-first financial technology community bank, seeks an experienced Deposit Operations Specialist II to own the account lifecycle and escalation work for embedded banking programs. This hands-on role focuses on tracing issues to root cause and documenting processes for consistency and transferability.

The candidate will handle escalations, dormant accounts, escheatment, post-death processing, and regulatory compliance with BSA/AML oversight, while collaborating with Compliance

Qualifications

• Three or more years of experience in deposit operations, banking operations, or fintech operations.
• Experience with deceased account and estate processing, including required documentation.
• Experience with dormant account monitoring and escheatment reporting across states.
• Knowledge of Regulation E, Regulation CC, and Regulation DD; UCC presentment warranty familiarity.
• Experience with IRS B Notice processing and backup withholding; FIDM familiarity.
• Experience supporting embedded banking programs or working with third-party platforms.
• Experience testing system or platform changes in an operations role.
• Proficiency with SaaS consoles, ticketing tools, and Excel pivot tables.
• Clear, concise written communication; ability to write procedures and audit responses.
• Demonstrated initiative and ownership; ability to work independently and escalate when needed.
• Sound judgment in escalating issues promptly to the right parties.

Responsibilities

• Own intake, triage, and resolution of operational escalations from embedded banking partners and programs.
• Maintain a single source of record for escalation status, ownership, and resolution.
• Prepare and verify bank verification letters and verifications of deposit; route certifications to Compliance.
• Research partner and end user items including transfers, balances, holds, statements, and corrections.
• Escalate items with BSA, AML, OFAC, or consumer harm dimensions to Compliance immediately.
• Process deceased customer notifications and manage post-death federal benefit returns.
• Monitor dormant accounts, escheatment, and unclaimed property reporting; manage platform migrations.
• Manage closed/fraud-closed accounts, including checks and reissues.
• Process funding for dissolved businesses and route disbursements through approvals.
• Coordinate hold harmless letters, verify payment data, and confirm GL postings.
• Handle cashier's checks reissues, stop payments, and lost instrument claims.
• Pursue recovery on duplicate presentment and breach of presentment warranty items.
• Process IRS CP2100 notices and related backup withholding; support FIDM reporting.
• Serve as backup for DACA intake, maintenance, and control notices; IOLTA remittance backup.
• Provide system and process testing input for core releases and partner launches.

Skills

Deposit operations experience

Estate processing

Dormant accounts

Regulatory knowledge

IRS B Notice processing

Embedded banking

Testing and QA

Excel pivot tables

Written communication

Ownership / initiative

Escalation / judgment

Sponsor bank experience

Legal orders response

Escheatment management

Core banking conversion

API core banking

Tools

SaaS consoles

Ticketing tools

Excel (Pivot Tables)

Job description

Description

Who We Are

Thread Bank is a digital-first financial technology community bank that aims to enhance customer engagement through innovative solutions. Thread Bank offers a modern website, a CRM system, and a mobile app to simplify banking for businesses and individuals. Our embedded banking solution helps

business technology platforms provide secure banking experiences. We also partner with other banks, credit unions, and FinTechs to integrate compliant financial solutions. Thread Bank values innovation, collaboration, and flexibility, offering excellent benefits and a family-friendly culture.

What We Are Looking For

Thread Bank is seeking an experienced deposit operations professional to own the account lifecycle and escalation work that connects our community bank and our embedded banking programs. This is a hands-on role. The Deposit Operations Specialist II works each item to resolution, traces problems

to root cause, and documents each process so it runs consistently and transfers cleanly to others on the team.

This work carries meaningful regulatory and financial exposure. Deceased accounts, escheatment, dormancy, and hold harmless requests each carry their own deadlines, approval paths, and recordkeeping obligations. The successful candidate follows established procedures, applies sound judgment, and escalates promptly when a procedure is unclear or does not address the situation.

What You’ll Do

Embedded banking escalations and partner operations

• Own intake, triage, and resolution of operational escalations from embedded banking partners and programs, tracking each item to closure against the applicable service level.
• Maintain a single source of record for escalation status, ownership, and resolution.
• Prepare and verify bank verification letters and verifications of deposit against the system of record, and route any requested certification that Thread Bank records do not support to Compliance.
• Research partner and end user items, including transfers, balances, holds, statements, transaction status, misposted funds, and interest or accrual corrections.
• Escalate any item with a Bank Secrecy Act ("BSA"), anti-money laundering ("AML"), Office of Foreign Assets Control ("OFAC"), or consumer harm dimension to the Financial Crimes Compliance team and the BSA Officer immediately, regardless of dollar amount.

Account lifecycle processing

• Process deceased customer notifications across bank and embedded banking programs, including Death Notification Entries, estate, executor, and payable on death claims, required documentation, account restrictions, and the review and return of post-death federal benefit payments.
• Own dormant account monitoring, required dormancy notices, and escheatment and unclaimed property reporting for the community bank and embedded banking portfolios, including filings submitted through a third-party provider and related platform migrations.
• Manage closed account and fraud closed account check disposition, including issuance, return mail tracking, stale-dated items, reissues, and lost in transit handling under the Bank's cashier's check procedures.
• Process funding requests for dissolved businesses by confirming dissolution status, the authorized recipient, and the supporting authority, and route each disbursement through the documented approval path.
• Serve as the central point for hold harmless letters and requests, verifying payment data against the system of record, coordinating check issuance, and confirming general ledger posting and reconciliation under dual control.
• Serve as the central point of contact for cashier's check reissues, stop payments, and lost instrument claims, tracking each item from intake through resolution.
• Pursue recovery on duplicate presentment and breach of presentment warranty items, including demand letters to depositing banks.
• Process IRS B Notices (CP2100) and related backup withholding actions, and support Financial Institution Data Match ("FIDM") reporting.
• Serve as backup for deposit account control agreement ("DACA") intake, maintenance, and control notices.
• Serve as backup for Interest on Lawyers' Trust Account ("IOLTA") monthly remittance.

Procedures, controls, and audit readiness

• Write and maintain procedures for each owned process, stating control points, dual control steps, approval authority, escalation triggers, response deadlines, and record retention requirements.
• Perform root cause analysis on repeat errors, such as duplicate payments, incorrect amounts, and transposed figures, and recommend control changes for leadership review.
• Maintain documentation that supports internal audit, regulatory examination, and partner oversight requests, and prepare responses to those requests.
• Report volumes, cycle times, error rates, and aging for owned processes.
• Explain procedural requirements to colleagues, and elevate when a procedure is unclear, conflicting, or silent.

Project and system testing

• Serve as the operations tester for system and process changes affecting deposit and embedded banking work, including core releases, vendor and platform updates, new partner program launches, and configuration changes, by writing and executing test cases, validating results, and documenting defects.
• Build and maintain working expertise in the core platform, item processing, and the partner and ledger consoles used across embedded banking programs.
• Develop and maintain training content and job aids for owned processes, and update them as systems change.

Additional responsibilities

• Support additional deposit operations functions as the Bank continues to align operational ownership.
• Perform additional responsibilities as assigned by management or as business needs require.

Qualifications

Required

• Three or more years of experience in deposit operations, banking operations, or fintech operations, with demonstrated depth across more than one function.
• Experience with deceased account and estate processing, including required documentation and post-death federal benefit returns.
• Experience with dormant account monitoring and with escheatment and unclaimed property reporting across multiple states.
• Working knowledge of regulations governing deposit operations, including Regulation E, Regulation CC, and Regulation DD, and familiarity with presentment warranty claims under the Uniform Commercial Code.
• Experience with IRS B Notice (CP2100) processing and backup withholding, and familiarity with FIDM reporting.
• Experience supporting a banking as a service or embedded banking program, or comparable experience working operational items alongside a third-party platform.
• Experience testing system or platform changes in an operations role, including writing and executing test cases.
• Proficiency with software as a service consoles and ticketing tools, and intermediate Microsoft Excel skills, including pivot tables and reconciliation of large data sets.
• Clear, concise written communication skills, including the ability to produce procedures, escalation summaries, and audit responses that others rely on.
• Demonstrated initiative and ownership, including the ability to identify issues, begin work independently, and seek decisions when required.
• Sound judgment in escalating issues promptly to the appropriate parties.

Preferred

• Sponsor bank experience.
• Experience responding to legal orders on deposit accounts, including levies and garnishments, with familiarity in response deadlines, hold and remittance mechanics, and recordkeeping requirements.
• Experience managing escheatment or another regulatory filing through a third-party provider, including ownership of the data submitted on the Bank's behalf.
• Core banking conversion experience.
• Experience with a modern application programming interface ("API") based core banking platform.

Employee must be able to perform essential functions of the position and, if requested, Thread Bank will make reasonable accommodations to enable employees with disabilities to perform the essential functions of their job, absent undue hardship, in accordance with the ADA.

Thread Bank is an Equal Opportunity Employer. Thread Bank does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.

By submitting your application, you give Thread Bank permission to email, call, or text you using the contact details provided. We will only contact you with job-related information.