Deposit Operations Specialist II at Spencer Savings Bank

Elmwood Park, New Jersey, United States -

Full Time

Start Date

Immediate

Expiry Date

04 May, 26

Salary

0.0

Posted On

03 Feb, 26

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Exception Item Review, ACH Returns, Reconciliations, Account Opening, Wire Transfers, IOLTA Processing, Escheatment, Garnishments, Subpoenas, Check Deposit Cash Letter Proof, Positive Pay Exceptions, Foreign Currency Orders, IRA Transactions, Fraud Case Investigations, NACHA Regulations, Compliance Regulations

Industry

Banking

Description

BASIC FUNCTION Responsible for daily operational functions including exception item review/reprocessing, return deposited item handling, ACH returns/reclamations, Fed adjustments, and reconciliations. Daily processes such as account opening, account maintenance, disputes, third party verifications, check distributions, and wires. Provide support for deposit products including Retirement Plans, IOLTA, and Escheatment. MAJOR RESPONSIBILITIES 1. Maintain a current working knowledge of all functions of a Deposit Operations Specialist I position, including escrow, RDI, IATs, research, Canadian items, Bonds, wires, returned mail, gift cards and adjustments. 2. Process In-clearings, and ACH Exceptions. 3. Develop and maintain a strong working relationship with Accounting and Core Support areas to ensure quick resolution to ACH processing issues, exceptions, and adjustments. 4. Assist with handling garnishments and subpoenas in accordance with legal due dates and privacy regulations 5. Prepare daily check deposit cash letter proof including scanning and repair of checks and make adjustments. 6. Provide support for customers on bank Cash Management Services to process NOCs and ROCs and handle Positive Pay exceptions 7. Review and validate rejected items in OASIS check verification system. 8. Fulfill foreign currency order purchase requests. 9. Process IOLTA accounts and monthly remittance to the IOLTA fund. 10. Act as liaison with Item Processing servicer to ensure timely statement mailings, file transmissions, daily exception item file receipt/processing. 11. Reconcile assigned general ledger accounts monthly. 12. Accurately process domestic and international incoming and outgoing wire transfers initiated from multiple channels including financial centers, internal departments, and via the bank’s online banking system. 13. Process IRA transactions (ex, Transfer requests, decedent accounts, tax form adjustments etc.) 14. Assist with the daily review of completed IRA documentation for accuracy and compliance to procedures. 15. Assist with the processing of returned mail. 16. Complete fraud case investigations, including but not limited to potential loss, prevented loss, actual loss, and recovered loss. 17. Performs other duties as required. JOB REQUIREMENTS Education: * High School diploma required, College degree or equivalent related experience. Skills/Experience: * Minimum three years Bank deposit operations required * Strong written and verbal communication skills * Strong time management skills, and attention to detail * Proficiency in Microsoft Office including Outlook, Word, and Excel * Reliability, flexibility, professional etiquette, and sound judgment are important. * Strong analytical capabilities to accurately define problems * Must be familiar with standard concepts of deposit compliance regulations * Must be familiar with NACHA regulations, ACH return codes and standard entry codes * Understanding of reconciliation processes and regulatory compliance requirements Benefits * Holidays * Vacation * Health/Dental * Vision Service Plan * Short Term Disability * Long Term Disability * Life Insurance * Flexible Spending Accounts * 401k Savings Plan * Tuition Reimbursement * Employee Assistance Program * Free Employee Checking Account

Responsibilities

The specialist is responsible for daily operational tasks including reviewing and reprocessing exception items, handling ACH returns, managing Fed adjustments, and performing various daily processes like account maintenance and wire transfers. Key duties also involve supporting deposit products such as Retirement Plans, IOLTA, and Escheatment, alongside processing domestic and international wires.