Deposit Operations Specialist III

Deposit Operations Spec. III

TITLE:

JOB CODE:

BSB-0101

FLSA:

Non-Exempt

SALARY GRADE:

4

CATEGORY:

Full-time

UNION REPRESENTATION:

CWA 7901/9412

SCHEDULE:

LOCATION:

Monday-Friday
Hybrid

SUPERVISORY ROLE Y/N:
REVISION DATE:

N
1/2025

POSITION OVERVIEW
The Deposit Operations Support Specialist III is responsible for leading and managing complex back-office operational processes, supporting the branch network and other departments, and ensuring seamless operations. The Specialist III serves as a subject matter expert (SME) for deposit operations, identifies and drives strategic improvements, mentors other team members, and handles high-level escalations and critical deposit-related processes. This role ensures compliance with federal and state regulations, minimizes risk, and supports operational excellence while meeting customer service expectations.

This is a unionized position through the Communication Workers of America.

ESSENTIAL DUTIES

Ensures compliance with and maintains advanced knowledge of banking laws, regulations, internal policies, and procedures.
Acts as a senior resource and SME for all deposit operations functions, providing guidance to Deposit Operations Specialists I and II.
Oversees complex processes such as reconciliation of escalated discrepancies, high-value transactions, and regulatory reporting.
Manages and reviews advanced electronic transactions, including ACH, wire transfers, treasury services, mobile deposits, and bill payments.
Leads and coordinates audits on all deposit operations processes and ensures timely resolution of any findings.
Partners with leadership to develop, implement, and refine deposit operations procedures to improve efficiency and compliance.
Oversees Dormant and Inactive account management, including escheatment processes in accordance with state law.
Works with department management to perform annual W-8 and W-9 certifications, B-Notice Processing for compliance with IRS regulations, including form and/or response reviews, and follows up with branches and departments for corrections and form completion integrity.
Identifies potential areas of risk or loss and recommends strategies to mitigate them.
Reviews end-of-year tax notices, such as 1099 and 1099R.
Serves as the primary contact for escalated issues from branches, departments, and external vendors.
Manages IRA processing, such as RMDs, distributions, contributions, and ensures compliance with tax regulations.
Responsible for processing all legal actions, including garnishments, levies, and subpoenas, responding by deadlines, and working with legal counsel as needed.
Maintains an understanding and knowledge of electronic and check payment processing workflows with Fiserv DNA, Federal Reserve Bank, and various correspondent banks to assist the Central Operations Department and other departments with research and any special handling.
Oversees Zelle processes and handling of disputes in accordance with program requirements and bank policies/procedures.
Performs advanced General Ledger reconciliations, ensuring accuracy and resolving discrepancies in a timely manner. Develops reconciliation procedures and provides training to ensure team adherence to best practices.
Completes mandatory compliance training and ensures team adherence to training deadlines.

The position performs duties specific to the position and other functions as assigned.

ROLE COMPETENCIES

Customer support
Advanced Data Analysis
Technical Documentation
Time Management
Task Management
Initiative
Prioritization

Effective communication
Systems thinking
Innovative mindset
Attention to detail
Advanced Problem-Solving
Adaptability
Collaboration

ENVIRONMENT, PHYSICAL & MENTAL ACTIVITIES
The incumbent is in a non-confined office-type setting in which they are free to move about  may include some minor annoyances such as noise, odors, drafts, etc. Work may also be performed at home depending on the requirements. Employee is required to have an environment when working at home that has a high-speed internet connection and environment conducive to frequent phone or internet calls.
The incumbent in the course of performing this position spends time writing, typing, speaking, listening, lifting (up to 10 pounds), driving, carrying, seeing (such as close, color and peripheral vision, depth perception and adjusted focus), sitting, pulling, walking, standing, squatting, kneeling and reaching.
The incumbent for this position may operate any or all of the following: personal computer, cellular telephone, printer, fax, and other standard office equipment.
The incumbent in this position must be able to accommodate reading documents or instruments, detailed work, problem solving, customer contact, reasoning, math, language, presentations, verbal and written communication, analytical reasoning, stress, multiple concurrent tasks and constant interruptions.
The work environment characteristics, physical and mental demands described here are representative of those an employee encounters while performing the essential…