Deposit Operations Specialist
New Horizon Bank, NA in Powhatan, VA is currently seeking applicants for the following career opportunity: Full-time Experienced Deposit Operations Specialist . Qualified applicants must have a minimum of 5 years previous bank operations experience and additional experience in other areas of a bank would be beneficial, especially in a branch environment. Supervisory or management skills with attention to detail, accuracy, professional image and good computer skills.
Essential Duties and Responsibilities:
- Oversee the day to day functions of deposit operations.
- Process collection items such as foreign checks.
- Resolve outstanding items in general ledger.
- Perform research and adjustments.
- Reconcile Community Bankers Bank statement weekly and end of the month. Review statement daily.
- Reconcile the Bank’s Investment Portfolio monthly.
- Reconcile Bank’s official checks and bank accounts monthly.
- Prepare Public Funds report monthly and quarterly to the State.
- Develop and maintain a working knowledge of bank products and services.
- Assemble information for external and internal auditors for audits.
- Assist in special projects, such as year-end audits and regulatory examination preparation.
- Monitor and identify changes in deposit compliance laws and regulations, developing or updating policies and procedures to ensure compliance with laws and regulations as they relate to Deposit Operations.
- Ensure effective communication is delivered with respect to incidents related to Deposit Operations as well as regular communication related to the status of outstanding issues as they pertain to the support provided by Deposit Operations to branch personnel
- Responsible for ensuring all questions and concerns related to the Deposit Support functions of Core Processor are answered timely and cases are placed with Core Processor for assistance.
- Review of required monitoring including both daily and monthly reviews performed.
- Directs the daily activities of back office branch items processing including incoming and outgoing wires, return items, NSF, stop payments, customer notices, non-posted transactions, Bill Pay, ATM transactions, ACH processing, fraud suspect transactions, and other deposit account operations.
- Oversees and manages IRA processing, IRS Withholding, Backup Withholding Remittance, EIN/TIN Mismatch Program, and annual IRS Reporting such as 945 and 945A
- Research and analyze problems for customers, branches and departments, relating to the Deposit Operations area.
- Process and reply to legal requests including Garnishments, Levies and Subpoenas
- Complete monthly access reviews for FDICIA, Federal Reserve, Reg O and Wires
- Acts as administrator for various bank products such as EFT provider, Check Scanning Software, ACH Online, and DCI Cash Management Services.
- Oversees and manages the monthly Safe Deposit Box billing, notary application and renewal process, daily and monthly departmental general ledger account reconciliations, dormant account and escheatment.
- Oversees and manages the fraud process in regard to Deposit Products and ACH transactions as well as fraud prevention.
- Develops and implements processes, policies, procedures and internal controls related to operational functions.
- Perform annual reviews as required for user access to related Deposit Operations software including but not limited to Core Processor products supported by Deposit Operations.
- Serve as Community Bankers Bank/Fedline contact for administration and authorizations.
- Assists and interfaces with examiners and auditors during regulatory exams and internal audits when related to Deposit Operations functions.
- Assist with examinations and audit reports related to Deposit Operations including support where corrective actions are required.
- Assist with the Bank’s year-end reporting requirements including IRS tax reporting.
- Assist Compliance Officer with both the Bank Secrecy Act and Identity Theft Prevention programs including serving on the Suspicious Activity Reporting Committee as well as assistance with annual training requirements.
- Ensure Deposit Operations employment needs are met including timekeeping, annual performance evaluations, scheduling, training and motivation.
- Compiles information from various areas of the Bank where problems or errors have been identified. Utilizes these examples to train the staff to become more efficient both in Branch efforts and Operations (ie: communication flow to branch offices).
- Conducts staff meetings on a regular basis to discuss problems and issues and to update procedures, policies and practices.
- Ensures the accurate balancing of deposit ledgers. Takes immediate action to document errors and resolve the problem quickly so accounts can be reconciled
Equal Opportunity Employer
Job Type: Full-time