Deposit Operations Specialist I​/II

Job Title

Deposit Operations Specialist I or II

Deposit Operations

Littleton, MA

Manager, Deposit Operations

Individual Contributor

Hybrid

Works on-site at HQ more than 10 days per month with assigned workspace

Non-Exempt

Deposit Operations Specialist I Pay Grade & Range: 7NE; $21.99 -$27.35

Deposit Operations Specialist II Pay Grade & Range: 8NE; $24.32 - $30.39

Actual compensation offered may vary from the posted pay grade range based on factors such as relevant experience, time in role, base salary of internal peers, prior performance, business sector, licensure requirements and/or skill level, and will be finalized at the time of offer.

The Deposit Operations Specialist is responsible for performing a variety of tasks related to the processing, maintenance, and monitoring of deposit accounts. This role ensures operational accuracy, compliance with regulations, and exceptional service delivery to internal and external stakeholders. Specialists will support fraud mitigation efforts, resolve discrepancies, and continuously seek opportunities for process improvement.

This position is structured with two levels (I, II) to reflect increasing levels of responsibility, expertise, and complexity of tasks handled.

• Provide exceptional service to members by addressing inquiries, resolving issues, and ensuring prompt follow-up.
• Assist team members with completing departmental activities, including daily workflows, annual tasks, and special projects, within established deadlines.
• Analyze and generate statistical reports, including volume metrics, error rates, and trend tracking.
• Conduct procedural reviews based on process changes, audits, and regulatory updates; revise and validate documentation as needed.
• Ensure timely issuance and mailing of required member notices within designated time frames.
• Monitor transactions and investigate discrepancies, prioritizing fraud mitigation and risk management.
• Maintain comprehensive knowledge of assigned areas and serve as a backup resource for other operational functions.
• Stay informed about industry updates and regulations through training, webinars, and conferences.
• Identify opportunities for process improvement and recommend best practices to enhance efficiency and accuracy.
• Prepare and submit required compliance reports and audit documentation to support regulatory requirements.
• Verify and validate questionable transactions by contacting members directly to ensure accuracy.
• Review and reconcile maintenance reports, application exceptions, and general ledger accounts.
• May be asked to provide coverage in other WCU branches or departments.
• Adhere to all WCU policies and procedures which include security compliance and following guidelines intended to limit risk exposure to fraud and losses.
• Participates in department and/or organizational projects as directed.
• Performs other tasks or functions as required, requested, necessary or prudent.
• Maintains confidentiality of all member and credit union information and data.
• Regularly demonstrates behaviors as defined by the credit union's Fundamentals, which are part of the Workers Way culture program.

• Focus on transactional processing, account maintenance, and reporting.
• Manage returned mail, lockbox operations, stop payments, and notice mailings.
• Process research and withdrawal requests from member-facing departments.
• Perform daily reviews of data reports and exceptions.
• Maintain account statuses and safeguard member information.

• Handle more complex tasks, such as processing levies, garnishments, and subpoenas.
• Manage ACH exceptions, originations, reversals, and unauthorized claims following NACHA rules and FRB Operating Circulars.
• Review and resolve mobile deposit exceptions, ensuring compliance with Reg CC and UCC 3.
• Work closely with fraud teams to monitor and address suspicious activity.
• Prepare detailed compliance reports and support audits.
• Troubleshoot issues with digital banking tools and payment processing platforms.

• High school diploma or equivalent.
• 1+ years of experience in deposit operations or related fields.
• Basic understanding of banking regulations and compliance requirements.
• Proficiency in Microsoft Office Suite and basic banking systems.
• Strong organizational and communication skills.
• Ability to work both independently and collaboratively.

• High school diploma or equivalent; associate degree preferred.
• 2+ years of experience in deposit operations or related fields.
• Solid understanding of banking regulations, NACHA rules, and UCC 3.
• Proficiency in banking systems, fraud monitoring tools, and data reporting software.
• Strong analytical and problem-solving skills.
• Ability to make informed decisions and prioritize risk mitigation.
• Demonstrated ability to meet deadlines and compliance standards.

• This…