Deposit Operations Manager

Posted Monday, 29, 2025 at 7:00 AM

Merchants Bank,
Winona
, has an opening for a Deposit Operations Manager.

The position oversees Deposit Operations functions, ensuring the accuracy, efficiency, and compliance of the bank’s deposit services. Key areas of responsibility include electronic banking, ACH origination, overdraft/NSF processing, deposit account maintenance, and vault and ATM management. Will develop and maintain operational policies and procedures, improving efficiency through automation and technology, and ensuring strong internal controls. Provides daily oversight, coaching, and development for department staff and serves as back‑up support.

The position fosters a culture of accountability, accuracy, and service excellence while ensuring regulatory compliance and superior support to both internal and external customers.

5+ years of progressive experience in banking operations required with at least 3 years as a supervisor desired. A Bachelor’s degree in Finance, Business Administration, Accounting or related field preferred. Must have strong problem solving and analytical skills and the ability to identify and implement process improvements. Excellent communication skills and proven ability to lead a team required.

Merchants Bank offers competitive wages and benefits for our full‑time employees including health, dental, life, disability and vision insurance; flexible spending accounts, 401(k) and ESOP retirement plans; bonus plan; paid time off; tuition reimbursement; and a variety of voluntary supplemental insurance options.

Please click on Apply Now or apply in person at Merchants Bank, Winona (102 E 3 rd Street). Questions can be emailed to  Merchants Bank is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

• Manage and oversee the daily functions of the Deposit Operations department, including ACH processing, NSF/overdraft handling, account maintenance, debit card servicing, Reg E claims, and vault management.
• Supervise and mentor staff, ensuring proper coverage, workflow balance, and continuous training and development.
• Develop and monitor department goals, performance standards, and service‑level expectations.
• Serve as the escalation point for complex customer or operational issues, collaborating with branch and business unit leaders for resolution.
• Provide back‑up coverage to team members as needed to maintain uninterrupted service and compliance.

• Evaluate existing systems, processes, and workflows to identify opportunities for streamlining, automation, and enhanced internal controls.
• Lead or participate in cross‑departmental initiatives, including new product rollouts, system conversions, and process redesign projects.
• Maintain a proactive focus on operational efficiency, risk mitigation, and service quality.
• Work closely with the Specialized Services Manager to ensure efficiency in workflow between the teams.

• Ensure departmental operations comply with all applicable Federal and State laws, regulations, and internal policies.
• Oversee regulatory reporting and manage responses to internal and external audit and examination requests.
• Review and update deposit operations policies and procedures regularly to maintain compliance and accuracy.
• Monitor transaction activity for accuracy and timeliness, implementing quality control measures to minimize errors and exceptions.

• Provide ongoing coaching, feedback, and performance evaluations for staff.
• Foster teamwork, collaboration, and open communication across departments.
• Support employee development through training, mentoring, and continued education in compliance and product knowledge.

• Serve as a subject matter expert for deposit operations and electronic banking systems, providing guidance to branch personnel and internal business partners.
• Ensure timely and effective resolution of complex customer inquiries and service issues.
• Deliver a consistent, high‑quality customer experience aligned with the bank’s…