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Central Services Processing Specialist
Flagstar Bancorp
Jackson, MI, United States
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Position TitleCentral Services Processing Specialist
Job SummaryThis job is responsible for focusing on meeting daily production deadlines along with agreed upon service levels for our retail customers and internal business partners. Processing Services Specialist is cross-trained and performs all of the following functions within Central Services on a rotational basis: Specialty Account Opening/Maintenance, Imaging Indexing, Verification of Deposit Processing, Fresh Start Setup/Maintenance, Address Changes, Returned Mail, Customer Request Processing, W8, Withholding, Online Banking Maintenance, Garnishments Processing, Safe Deposit Box, Escheats, Bankruptcy, Collections Payments, Right of Off-sets, Charge Offs, Regulation CC, Regulation D, Regulation E and Regulation O Review. Regulatory and IRS knowledge is required for IRA, HSA, KYC, CIP, OFAC, W-8, Escheat, International standards and Year End Processes.
Job Responsibilities:
• Participates in daily production activities including transaction processing/balancing, bounce review, collections reporting, account and bounce maintenance and updates in the Trakker and DNA systems. Helps with maintenance requests, processing cases, general ledger transactions, Bounce Protection, Garnishments, Levies, Returned mail, ITIN & W8 Monitoring. Also, processes escheat maintenance.
• Reviews daily reports to verify branch functions meet our compliance and regulatory procedures. Opens specialty accounts; including IRA, HSA, Employee, Foreign, etc. Regulatory and IRS knowledge is required for IRA, HSA, KYC, CIP, OFAC, W-8, Escheat and Year End Processes along with Regulations CC, D and E.
• Researches and resolves problems and responds to customer inquiries.
• Assists in review of Processing Services procedures to satisfy corporate, legal and regulatory guidelines and requirements.
• Images all paper audit trail documentation for the department daily.
• Ensure compliance with applicable federal, state and local laws and regulations. Complete all required compliance training. Maintain knowledge of and adhere to Flagstar's internal compliance policies and procedures. Take responsibility to keep up to date with changing regulations and policies.
Job Requirements:
• High School Diploma, GED or foreign equivalent required.
• Associates degree in a related field is strongly desired (i.e. business management, finance, or accounting).
• 1+ years of experience in the banking/branch operations.
• 1+ year of prior knowledge of banking products/services and/or processing operations.
• Core banking system knowledge preferred (DNA/Open Solutions/Fiserv).
• Trakker program experience preferred.
• Proven customer service skills.
• Intermediate understanding of MS Office Suite required; advanced understanding preferred.
• Willingness to work in a team environment.
• Excellent verbal and written communication skills.
• Good analytical and problem solving skills.
For Internal Use Only:: Job band J-Hrly