Deposit Operations Manager

SUMMARY / OVERVIEW

This position combines leadership of the Deposit Operations team with responsibility for the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance program. The role ensures operational excellence in Deposit Operations functions while maintaining a strong compliance posture in accordance with BSA/AML regulations. The Deposit Operations Manager collaborates across departments to deliver exceptional service, mitigate risk, and foster a culture of compliance and teamwork.

Clear, proactive communication and collaboration with internal teams and external partners are essential to success in this role.

May perform any or all of the following duties:

• 1) Deposit Operations Oversight
  • Manage daily processing DDA, savings/MMDA, CDs, ACH, wires, debit cards, check clearing returns, stop payments, chargebacks, and statements.
  • Ensure posting, balancing, reconciliations, and timely exception resolution (NSFs, stop pays, returns, disputes, negative balances, dormant/Escheat).
  • Own Reg CC holds, overdraft program processing, non-sufficient fund handling, and fee assessments consistent with policy.
  • Provide tier-2 support for branches and customer service teams on deposit ops questions and complex situations.
• 2) Branch Operational Risk Management
  • Establish and enforce branch control standards in procedures:
    • Dual control protocols (cash vault, teller drawers, safe deposit access, negotiables).
    • Cash management (vault limits, shipment orders, surprise cash counts, teller audits).
    • End-of-day balancing, GL entries, and daily reconciliations (cash, cash letters, transit accounts, suspense).
    • Access controls, user entitlement reviews, and segregation of duties.
  • Monitor and remediate operational losses; track trends (kiting indicators, return items, card disputes, ACH reversals).
• 3) Regulatory Compliance & Policy Ownership
  • Maintain deposit operations policies and procedures aligned to Reg E, Reg CC, Reg D, EFTA, UDAAP, privacy, and state escheatment requirements.
  • Oversee Deposit Administration, responsible for rate changes, product development and recommendations for enhancements. Create/update all required deposit related disclosures for approval by Compliance Officer.
  • Ensure that the team partners with Compliance and BSA/AML Analyst on CIP/CDD oversight, OFAC screening workflows, fraud typologies, and exceptions that require SAR consideration.
  • Ensure record retention, disclosure delivery, adverse action notices (as applicable), and error‑resolution timelines are met.
• 4) Fraud & Loss Prevention
  • Manage deposit-related fraud monitoring and mitigation (check fraud, ACH/wire fraud, debit card fraud, account takeover, elder abuse indicators).
  • Lead case triage, investigations, documentation, and customer communication in coordination with BSA/Fraud.
  • Tune controls (deposit holds, RDC limits, wire/ACH limits, card controls) to mitigate emerging risks.
• 5) Systems, Technology & Vendor Management
  • Serve as business owner/SME for core processing, online/mobile banking, debit card, ACH/wires, RDC, and statement platforms.
  • Coordinate upgrades, patches, conversions, and parameter changes; validate outcomes and communicate branch impacts.
• 6) Process Improvement & Efficiency
  • Map and implement workflows; reduce manual touchpoints
  • Implement straight‑through processing where feasible; standardize branch procedures and checklists.
  • Establish KPIs and dashboards; drive continuous improvement projects tied to measurable outcomes.
• 7) Leadership & Staff Development
  • Lead, coach, and cross‑train deposit ops staff and branch supervisors on critical processes and controls.
  • Create coverage plans for peak volumes, vacations, and incidents; personally step in for complex tasks as needed.
  • Deliver role‑based training (Reg E disputes, Reg CC holds, error resolution, reconciliations, cash controls).
• 8) Audit, Exam & Issue Management
  • Primary contact for deposit operations and branch operational risk during internal/external audits and regulatory exams.
  • Prepare requested materials; respond to findings; own corrective action plans and verify remediation completion.
  • Maintain an issues log with root‑cause analysis, due dates, and validation…