Deposit Operations Specialist na undefined

The primary purpose of this position is to assist TBACU to live out its mission, “To serve our community and build trusted relationships.” A key component of this service is to identify members’ needs and provide appropriate TBACU product solutions which ultimately helps grow the credit union. To adequately and effectively serve members and TBACU’s team members by providing prompt and accurate financial data and maintaining financial security.

This position is expected to provide excellent service to internal and external members by performing a broad range of deposit operations services and duties. Process deposit related transactions, including IRA and HSA’s, ensuring compliance and accuracy.

Ensuring outstanding service to internal and external members is delivered in alignment with our Service Standards which state.

1. I will provide an immediate and friendly greeting.
2. I will service you with a smile.
3. I will address you by name.
4. I will give you my full attention.
5. I will make recommendations to improve your financial well-being.
6. I will treat you with courtesy and respect.
7. I will thank you for your business.
8. I will respond to messages before the end of the day.

ESSENTIAL FUNCTIONS

• Accurately and efficiently perform assigned deposit operations duties.
• Process various deposit transactions regarding IRA & HSA’s, including but not limited to account openings, closings, and maintenance requests. Review and reconcile credit card cash advances, remote deposits, returned deposited items, and service support to other departments as well as submit payment for state and federal taxes for qualified accounts.
• Exemplify service focused behavior with a strong commitment to excellence.
• Maintain a positive and cooperative approach towards work and working with co-workers and members in accordance with credit union established standards. 
• Collaborate with other departments to resolve suspicious transactions and unusual occurrences. 
• Answer internal and external member inquiries courteously and promptly by providing accurate and timely information.
• Effectively navigate and seek support for accurate resolution of complex situations.
• Maintain accurate and up-to-date records of member interactions and transaction details. Administer and manage IRA and HSA accounts, ensuring compliance with regulatory requirements and internal policies.
• Participate in ongoing skills, compliance, risk management and security training. Stay informed about relevant banking regulations and ensure that deposit operations adhere to all compliance standards.
• Maintain comprehensive knowledge of credit union products and services.
• Meet established position expectations.
• Ability to be bonded.
• Ability to clear credit and criminal history check.
• Compliance with the U.S Patriot Act and the Credit Union’s Bank Secrecy and OFAC Policies and Procedures.
• Compliance with the Gramm-Leach-Bliley Act and the Credit Union’s Information Security program, maintaining the privacy and security of information, systems, and locations.

DUTIES & RESPONSIBILITIES

The following statements are intended to describe the general nature and level of work being performed by the position. It is not intended to be an exhaustive list of all duties, responsibilities, and skills required of this position. Other duties may be assigned to meet business needs.

• Process and approve daily wire transfers and ACH transactions.
• Process payroll deductions and payroll origination transactions for members. Correcting errors when needed.
• Perform account corrections and adjustments.
• Stay up to date on IRS regulations, Department of Labor guidelines, and other regulatory changes affecting IRA and HSA accounts.
• Conduct educational sessions or workshops for internal staff to enhance understanding of IRA and HSA products.
• Stay informed about industry trends and communicate updates to team members and account holders.
• Filing the 1099 and 5498 taxes and pulling various reports to share with management.
• Responsible for verifying account modifications, reports and documents to confirm accuracy, input and compliance.
• Review checks deposited through remote deposit capture and ITM/ATM systems. Place necessary holds and communicate with members.
• Create and maintain department procedures and guidelines.
• Participate in trainings, seminars, and workshops to improve understanding of regulations and compliance.
• Maintenance of member accounts, including overdrafts, NSF’s, return checks, card transactions, visa payments, etc.
• Other duties as assigned.

QUALIFICATIONS & EXPECTATIONS

To perform the job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the expectations of the person performing this job.

• Ability to self-manage workload to meet deadlines and goals with flexibility, and determination to handle deadlines and a wide variety of duties each day.
• Be a problem solver. Gather and evaluate information to make suggestions that are in the best interest of the credit union, members, and team members.
• Ability to work autonomously and as part of a team.
• Ability to take initiative in recommending/making changes to improve efficiency.
• Make recommendations concerning changes to department policies and procedures.
• Self-motivated and willing to learn new technology and applications.

PHYSICAL REQUIRMENTS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.

• Ability to lift to 25 pounds.
• Sedentary work; sitting most of the time. 

WORK ENVIROMENT

• Remote work environment, after successfully completing position training. Occasional on-site work may be required. 
• Must maintain a neat and orderly work area.
• Protect the confidentiality of credit union employees and members by locking or removing items from desk/workstation when away.

EDUCATION & EXPERIENCE

• High school diploma or equivalent, required.
• Associate degree in finance, business, or a related field, or equivalent work experience, preferred. 
• Previous experience in deposit operations, banking or similar role, preferred.
• Sound understanding credit union products and services, preferred.
• Possess excellent listening, clear verbal and professional written communication skills and teamwork skills.
• Proficient in Windows Operating System and Microsoft Office Suite/o365 Suite.
  1. Experience with using Excel.
  2. Strong typing (Includes: 10 keys) and basic technology problem solving skills.

INTENT AND FUNCTION OF POSITION DESCRIPTIONS

All descriptions have been reviewed to ensure that essential functions and basic duties have been included. Position description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this position. In no instance should duties outlined be interpreted as all inclusive. Additional functions, duties and requirements may be assigned as deemed appropriate.