Reciprocal Deposit Specialist

Five Star Bank; Roseville (CA); On-site; USD 55,000 - 75,000; Full time

Job summary

Five Star Bank in Roseville, CA is seeking a Reciprocal Deposits Specialist to support reciprocal deposit programs under the Controller’s supervision. You will monitor activity, perform reconciliations, and prepare reports to ensure accuracy and regulatory compliance.

The ideal candidate has a bachelor’s degree in accounting or finance, strong Excel and analytical skills, and experience in banking operations.

Qualifications

• Bachelor's degree in accounting, finance, or equivalent experience.
• Strong Excel and analytical skills.
• Experience in banking operations or deposit accounting preferred.

Responsibilities

• Monitor reciprocal deposit activity and balances.
• Review activity for accuracy and completeness.
• Complete reconciliations of reciprocal deposit accounts and related GLs.
• Research discrepancies and coordinate with internal teams for resolution.
• Maintain documentation and supporting records for reciprocal deposits.
• Prepare periodic reports on balances, activity, and reconciliations.
• Respond to questions and assist with research related to reciprocal deposits.
• Support internal and external audits and regulatory examinations.
• Maintain understanding of the Bank’s reciprocal deposit products and processes.
• Identify opportunities to improve monitoring, reporting, and internal controls.
• Maintain confidentiality and comply with bank policies and regulatory requirements.
• Other duties as assigned.

Skills

Excel

Analytical skills

Multi-tasking

Financial reporting

Education

Bachelor's degree in accounting or finance

Job description

Description

Who We Are

Five Star Bank is an award-winning and high performing $5.6 Billion community business bank operating through 10 offices - 4 in the Capital Region, 3 in the North State, 2 in the San Francisco Bay Area, and 1 in the Central Valley, as well as administrative offices in Newport Beach and Downtown Sacramento. With an emphasis on commercial real estate and small to medium sized businesses, we partner with organizations to help them be successful by providing highly customized banking solutions. Organizations bank with us because of our entrepreneurial and empathetic spirit, speed to serve and deep connection to our market. And they trust us.

Position Overview

Under immediate supervision of the Controller, the Reciprocal Deposits Specialist is responsible for supporting the Bank's reciprocal deposit programs and related deposit operations. This position performs monitoring, reconciliation, and reporting of reciprocal deposit activity while ensuring transactions are completed accurately and timely and in accordance with the Ban’s policies, procedures, and regulatory requirements.

Essential Job Functions

• Monitor daily reciprocal deposit activity, account balances, and program reports to identify discrepancies, exceptions, or unusual activity
• Review reciprocal deposit activity for accuracy and completeness
• Complete daily and periodic reconciliations of reciprocal deposit accounts and associated general ledger accounts
• Research reconciliation differences, transaction exceptions, and other discrepancies and coordinate with appropriate internal teams for resolution
• Maintain accurate records and supporting documentation related to reciprocal deposit accounts, balances, activity, and reconciliations
• Prepare and maintain recurring reports related to reciprocal deposit balances, activity, reconciliations, exceptions, and other program information.
• Serve as a resource for internal business partners by responding to questions and assisting with research related to reciprocal deposit accounts and activity
• Support internal and external audits and regulatory examinations
• Maintain an understanding of the Bank’s reciprocal deposit products, processes, systems, and procedures
• Assist in identifying opportunities to improve monitoring, reporting, reconciliation processes, internal controls, and overall operational efficiency
• Ability to maintain confidential information
• Comply with all applicable Bank policies and procedures, internal controls, and regulatory requirements
• Other duties as assigned

Requirements

• Bachelor’s degree in accounting, finance, or equivalent experience preferred
• Proficiency with Excel, Word and other reporting software
• Prior experience in banking, deposit operations, finance, accounting, or a related operational environment preferred.
• Experience with reciprocal deposits, deposit operations, or bank reconciliations preferred
• Ability to multi-task and work in a fast paced environment
• Strong analytical skills with emphasis to attention to detail

Physical Demands

While performing the duties of this position, the employee is in regular communication, is required to use various tools or objects, and have the mobility to move about the office. The employee occasionally lifts and/or moves objects up to 25 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus.

Other Duties

The purpose of the job description is to outline the duties and responsibilities for which the position is held accountable. The job description does not restrict the right of management to change, alter or reassign duties at anytime with or without notice.

EEO Statement

Five Star Bank is an Equal Employment Opportunity (EEO) employer and is committed to creating and maintaining a work environment that is free from all forms of discrimination and harassment. The Five Star Bank EEO policy prohibits harassment or discrimination due to age, ancestry, color, disability, gender, gender expression, gender identity, genetic information, marital status, medical condition, military or veteran status, national origin, race, religious creed, sex (including pregnancy, childbirth, breastfeeding, and any related medical conditions), sexual orientation, and any other classification protected by federal, state, or local laws, regulations, or ordinances. It also prohibits retaliation for engaging in protected activity, such as filing a discrimination or harassment complaint or participating in an EEO investigation. This policy shall apply to all employment actions, including but not limited to recruitment, hiring, upgrading, promotion, transfer, demotion, layoff, recall, termination, rates of pay or other forms of compensation and selection for training, including apprenticeship, at all levels of employment.

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NOTE:

Five Star Bank personnel are employed on an at-will basis. All employment is at-will and can be terminated with or without cause, at any time, by the Employee or by Five Star Bank for any reason or no reason whatsoever, with or without notice.