Commercial Deposit Specialist

Description WHO ARE WE

Alerus is a commercial wealth bank and national retirement provider with one core purpose: helping clients achieve their financial goals. We are driven by a shared commitment to always do the right thing; leading with integrity and providing valued advice and guidance to our clients. We value the expertise and skillsets each team member provides and encourage collaboration, innovation, adaptability, and an entrepreneurial spirit at all levels of our company.

By consistently seeking improvements and growth, we foster long‑term relationships with clients and team members. We are proud to be recognized as a Top Workplace by numerous industry and regional outlets.

Passion for Excellence ::
Success is Never Final ::
Do the Right Thing ::
One Alerus

This position is responsible for fulfillment and ongoing maintenance of commercial deposit accounts while supporting client service and internal coordination across teams. The role requires strong deposit expertise to support relationship management, ensure regulatory compliance, and deliver a high‑quality client experience. The incumbent will maintain a client‑focused approach and partner with Bankers, Commercial Banking Associates, Treasury Management and other internal partners to support commercial deposit relationship onboarding and servicing.

Responsibilities include managing workflows, supporting client interactions, and ensuring seamless coordination across internal partners.

• Manage commercial deposit account opening and maintenance requests from intake through completion via workflow systems and queues, coordinating with client and internal partners.
• Complete comprehensive review of existing and new supporting documentation to ensure client file is complete and accurate.
• Prepare, maintain and review the Signature Card, Master Deposit Resolution, Beneficial Ownership or other documentation as it pertains to the client request.
• Perform account maintenance, including updating client information and processing service requests.
• Collaborate with and maintain strong, positive relationships with Banker, Commercial Banking Associate, Treasury Management, and other internal partners to facilitate client needs.
• Work closely with clients, as a point person, to obtain required information for onboarding, deposit account opening, maintenance and service requests, issue resolution, and assisting in various banking needs.
• Coordinate internally to release prepared documents and disclosures to clients from various teams.
• Index supporting entity, authorized signer, or other related individual and/or entity supporting documentation to file system.
• Process deposit overdrafts in system per Banker direction.
• Assist in the preparation and formatting of Request for Proposals (RFPs) related to commercial deposit opportunities.
• Manage deposit workflows and queues for adherence to Service Level Agreements and overall processing accuracy.
• Obtain and verify KYC, CIP, CDD and Beneficial Ownership for commercial deposit clients.
• Ensure adherence to all regulatory, policy and compliance requirements.

• Associate's degree or equivalent combination of education and/or related experience in the financial industry.
• Minimum of 1+ years of commercial deposit experience.
• Understanding of commercial deposits, bank operations, products and services, business entity structure and documentation.
• Capacity to manage and stay organized while working with high volume, time‑sensitive transactions.
• Ability to be flexible, implement continuous change and demonstrate a positive attitude.
• High level of commitment to accuracy and detail.
• Effective written and verbal communication skills.

• Competitive compensation including base salary, bonus and/or incentive opportunities.
• Comprehensive benefits package providing a wide range of health and well‑being benefits, including medical, dental, vision, life and long‑term disability insurance; and 401(k) and ESOP for retirement savings.
• Generous paid time off programs such as flexible time off, company‑paid holidays, parental and bereavement leave.
• Learning and…