Deposit Operations Job Description

Deposit Operations Job Description

174 votes for Deposit Operations
Deposit operations provides operations guidance, coaching and development to employees including assistance with policies and procedures, computer applications and general operations issues.

Deposit Operations Duties & Responsibilities

To write an effective deposit operations job description, begin by listing detailed duties, responsibilities and expectations. We have included deposit operations job description templates that you can modify and use.

Sample responsibilities for this position include:

Develop all internal policies, procedures, and customer communications in accordance with established policies
Ensuring AML/BSA/OFAC and other KYC policies are adhered to in all aspects of the account decision, opening and maintenance processes
Anticipate, research and report on trends and ensure such knowledge is factored into the planning of the department's own strategy, resources and procedures
Determines methods and procedures for executing program
Interprets policies and practices with input from management
Contribute to the ongoing monitoring of loan account performance, in support of the bank’s Risk Management policies
Partner with Compliance, Legal, and Audit to ensure all procedures and process adhere to the regulatory guidelines, industry trends, and identified risks
Maintain compliance with Visa, Plus, Interlink and 5th 3rd (MPS) regulations and Federal Regulation E and Z while resolving fraudulent and/or disputed electronic card transactions
Managing team of analysts to process, underwrite, decision and open business banking accounts
Leverage and continually seek to improve data-driven metric reporting to ensure production capacity is scalable with growth

Deposit Operations Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Deposit Operations

List any licenses or certifications required by the position: AAP

Education for Deposit Operations

Typically a job would require a certain level of education.

Employers hiring for the deposit operations job most commonly would prefer for their future employee to have a relevant degree such as Associate and Bachelor's Degree in Education, Business, Finance, Spectrum, Associates, Technical, Accounting, General Education, Business/Management, Communications

Skills for Deposit Operations

Desired skills for deposit operations include:

Standard banking regulatory disclosure requirements and customer notification requirements helpful
Department computer applications and systems
Bank/department computer applications and systems
MS Word
How the correction will affect an account
Regulation E
Adhere to Flagstar’s internal compliance policies and procedures

Desired experience for deposit operations includes:

Experienced in multiple disciplines/function
Ability to anticipate manager or departmental needs
Ability to compose brief letters and memos and create and proof multi-page documents
Partnering with front-end operations managers in all intake channels to ensure SLA’s are managed
Implementing appropriate Quality Assurance and Quality Control programs to ensure SLA and regulatory compliance
Implementing, managing and testing business controls to ensure all key risks in the back office operations are identified and mitigated

Deposit Operations Examples


Deposit Operations Job Description

Job Description Example
Our company is growing rapidly and is hiring for a deposit operations. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for deposit operations
  • Retrieves, reviews for accuracy, makes any needed adjustments and corrections, and distributes various department reports that are monitored by Deposit Operations management
  • Prepares, mails, and monitors payments of customer account analysis invoices
  • Managing all staff reporting to the position so as to effectively train, evaluate, motivate, delegate and monitor their activities
  • Plan and implement strategy and activities consistent with overall aims and requirements of the department
  • Maintain personal ability in, and appropriate use of, all relevant REG E technology and regulatory changes that may impact department
  • Monitor, record, analyze and report on activities, trends, results and recommendations relating to department activities
  • Liaise with other departments in order to maintain effective and relevant activities and support in relation to REG E operating functions
  • Reviews charged-off accounts and amounts for accuracy prior to being submitted to outside collection agencies within prescribed time frames
  • Researches and takes appropriate action as needed for accounts appearing on Bankruptcy log
  • Establishes holds on newly opened accounts for previously owing accounts and sends notification of holds to customers within prescribed timeframes
Qualifications for deposit operations
  • Ability to maintain confidentiality of sensitive customer, employee and branch issues
  • Four-year college degree or business course work
  • Three or more years of corporate operations experience, with emphasis in the department or areas related to this position
  • Organizational and problem resolution skills/accustomed to multi-tasking and time management/good verbal and written communications skills/proficient in Microsoft Word & Excel/excellent customer service skills/ability to continuously learn and adapt
  • Candidates should have in-depth Banking Knowledge to include a minimum of 7 years of progressive experience with management responsibilities in deposit operations and treasury operations
  • Analytical, process improvement, project management and problem solving skills are required

Deposit Operations Job Description

Job Description Example
Our growing company is looking to fill the role of deposit operations. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for deposit operations
  • Manage the workflow of the team to ensure assignments are completed timely and overtime is kept to a minimum
  • Ensures timely and accurate delivery of support services to internal and external customers
  • Leads team to meet standards for quality, accuracy and financial controls
  • Intercedes as necessary with staff and internal/ external customers to resolve problems
  • Participates in operational improvement initiatives
  • Analyzes operational reports and submits activity reports
  • Compiles and reports financial data in accordance with government guidelines
  • Develops and recommends plans for expansion of existing programs, operations, and financial activities
  • Develop and lead the implementation of strategic plans of the Money Movement Team for the growth of the department and the bank
  • Responsible for the HR activities associated with the team in regards to providing the appropriate staffing levels including the right staff and weekend coverage
Qualifications for deposit operations
  • Ability to establish and maintain effective, collaborative work relationships both internally and externally, including with customers
  • Associate’s Degree or equivalent coursework and/or work related experience is required
  • Must be able to identify research and resolve complex situations including, but not limited to, monetary errors, general ledger entry balancing issues or reporting discrepancies
  • Basic knowledge of database operations, especially through a SQL database, and Microsoft Access reporting is preferred
  • Must have excellent oral and written communications skills good visual presentation skills and must have excellent customer service skills
  • Remittance Processing experience

Deposit Operations Job Description

Job Description Example
Our innovative and growing company is looking to fill the role of deposit operations. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for deposit operations
  • Responsible for all tracking, forecasting, and reporting department metrics to senior and executive management regarding department health and quality
  • Evaluate processes that can be stream-lined, enhanced, automated, or in or outsourced to Deposit Operations
  • Operate the department within budgetary guidelines to ensure a positive impact to the bottom line
  • Monitors, maintains and enhances the activities of the team and staff within the Department
  • May provide some instruction to department personnel in the absence of the department trainer
  • Process adjustments to customer accounts ensuring they are completed within required compliance time frames
  • Re-evaluation of closed claims at customer’s request
  • Compiles and analyzes data
  • Support the development, implementation and monitoring of key performance indicators and metrics for the department
  • Identifies training requirements through analysis of repetitive errors and provides information to management for resolution
Qualifications for deposit operations
  • ACH knowledge preferred but not required
  • Experience in performing job duties with strict time limits
  • Performs routine administrative tasks exercising some judgment and discretion in the performance of duties usually in support of a single unit or team within Deposit Operations
  • Makes non-routine entries into processing and tracking systems related to paperwork, deposits, and information processed
  • Performs preliminary research on suspicious items and reviews findings with lead or supervisory staff to help prevent fraudulent activities
  • May provide information and procedural knowledge for less experienced staff

Deposit Operations Job Description

Job Description Example
Our growing company is looking for a deposit operations. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for deposit operations
  • Insure compliance with all bank policies
  • Complete compliance training, adheres to all anti-money laundering guidelines and procedures and all regulatory requirements
  • Manage staffing in several areas of Deposit Operations including all HR related activities such as
  • Responsible for driving operational excellence, efficiency and collaboration, this individual will manage a team of resources to achieve the department’s operational goals
  • This individual will partner with various line of business leadership to develop and implement strategic priorities for operations
  • Proactively implement process improvements to ensure service quality, service level agreements and Operational Excellence
  • Must be able to handle general procedural questions
  • Will be processing high volumes within tight deadlines
  • Must have high attention to detail and be comfortable with repetitive tasks
  • Will receive documents from customers, required to accurately verify information and signatures on the forms and ensure it is filled out completely
Qualifications for deposit operations
  • May act as an experienced resource for information and know-how for less experienced staff
  • Assesses work flow and productivity of assigned units to make improvement recommendations to management
  • Processes Customers’ written requests such as death notices, tax changes, tax audits and other account information changes, corrections or updates
  • High School diploma or equivalent and three (3) years general work experience
  • 2-4 years of bank operations and banking experience
  • System application knowledge helpful

Deposit Operations Job Description

Job Description Example
Our innovative and growing company is looking for a deposit operations. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for deposit operations
  • Oversight of budget and operational performance reporting, including forecasting of volumes, identification of drivers, seasonality and third party vendor performance
  • Ensure the proper controls and reporting are in place to deliver on targeted SLA and Quality Control SLA requirements
  • Develop, maintain and execute business continuity plans as needed, ensuring that plans are robust and can achieve/exceed our daily processing requirements
  • Drive process improvement/automation of key processes where possible for efficient and effective delivery of customer experience, using Six Sigma tools and process design where appropriate
  • Ensure all fulfillment requests and customer transactions are handled in a customer centric manner and in accordance with all regulatory requirements
  • Lead and/or collaborate with other Deposit leaders to ensure optimal associate performance and operational execution
  • Daily perform a variety of operational functions which may include reconciling, data entry functions, document review and other duties necessary for the processing relative to the mission of the department
  • Perform inquiry and maintenance functions to maintain the integrity of the Deposit and Retirement Systems within banking laws and regulations
  • Daily post entries to accounts, make adjustments, and ensure balancing as required
  • Daily perform basic calculations to determine charges, balances, interest
Qualifications for deposit operations
  • Bachelor's degree or minimum of 7 years of recent experience in retail consumer banking or other consumer financial services
  • Must be detail oriented and able to analyze a situation to determine a solution
  • Ability to prioritize workload, multi-task and work effectively in a team environment
  • Must be able to work flexible hours and evenings on a regular basis
  • Occasional lifting of boxes weighing 25-30 pounds
  • Six or more months of experience in the banking environment preferred

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