Deposit Operations Specialist I

at Live Oak Bank • Wilmington, NC

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POSITION Summary:

Responsible for all deposit operational activity for the bank including money movement, account maintenance, and reconciliation.  Ensure all funds transfers and entries are completed with precision, accuracy, and in a timely manner.  Maintain positive relationships with fellow employees and bank customers.  Interact with customers by phone, in person, email, or written correspondence.  Requires knowledge of bank regulations and assists in cross-training of other members of the Deposits team.

ESSENTIAL FUNCTIONS:

1.    Use the online ticketing system to process customer requests including closing accounts, transferring funds, and account maintenance.  Analyze business documents presented at account opening

2.    Ensure ACH files are transmitted correctly and on time using the ACH processing system (Pep+)

3.    Review and accept/refuse check images presented for deposit through the mobile application

4.    Resolve exception items including Non-Post, Stop Payments, and NSF items

5.    Research and resolve issues with deposit accounts including maintenance, corrections, reversals, interest rate adjustments, CD issue/maturity dates, inactive accounts, etc

6.    Maintain and update account holder information as needed including change of address requests, owner/signer changes, beneficiary designation, etc.  Perform customer service transactions such as holds, stop payments, restrictions, and check confirmations

7.    Communicate with customers to prepare wire transfers before sending to the Wire Room

8.    Work with third party deposit brokers to process certificate of deposit openings, renewals, and maturities - ensure interest payment and wire transfer deadlines are met

9.    Freeze, restrict, and close fraud accounts as directed by Loss Prevention

10. Assist with training new team members in all aspects of the job

11.  Designated backup for Deposit Services Representative functions including printing checks, accepting customer deposits, and submitting the daily proof work to Item Processing

 ADDITIONAL RESPONSIBILITIES:

1.    Follow regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection, and determent of money laundering or other unlawful activities

2.    Function as part of a team and realize all members of the team are vital to its success

3.     Performs other duties as required

SKILLS:

·        Detail oriented with high degree of accuracy

·        Strong verbal and written communication and organizational skills

·        Excellent listening skills

·        Excellent understanding of deposit products and services

 EDUCATION:

 ·        College degree or like experience required

 EXPERIENCE:

·        A minimum of three years banking experience is preferred.

·        Banking New Accounts experience is preferred.

·        Banking Customer service and Teller experience is preferred.

 PHYSICAL DEMANDS/WORK ENVIRONMENT REQUIREMENTS:

·        Vision, hearing, speech, movements requiring the use of wrists, hands and/or fingers

·        Able to sit, stand, stoop and bend

·        The ability to work the days and hours required to fulfill the essential functions of the position

·        The ability to work long hours and be flexible in scheduling

·        Be able to multitask

 MENTAL DEMANDS:

·        Learning, thinking, concentration

·        The ability to interact with others and exercise self-control

·        The ability to work under stressful conditions, particularly in customer situations

·        The ability to make decisions and exercise discretion, when necessary