Deposit Operations Specialist 2
Job title: Deposit Operations Specialist 2 in Bloomington, MN at MidCountry Bank
Company: MidCountry Bank
Job description: The pay range represents the anticipated base pay for this position. Actual pay will be based on factoring including, but not limited to: market data, internal equity, skillset and knowledge, experience, education and overall qualifications for the role.JOB SUMMARYThese positions are responsible for all Deposit operations. Responsible for ensuring that all Maintenance/Servicing, Legal, Reporting, Compliance Documentation, Reviewing/QC & Training tasks are completed in compliance with the applicable regulations, MidCountry Bank policies and procedures or special requirements as dictated by the deposit approval authority.Responsible for deposit account daily operations and resolutions. Provides first level support to branch staff regarding customer or account processing issues. Responsible for daily GL reconciliation and maintaining a clean and accurate deposit customer data base. Provides direct external customer support to Cash Management customers.JOB RESPONSIBILITIES1. Maintenance/Servicing – Ensuring accuracy and that system is maintained to the highest standards
Account researching, closure, overdraft limit management and collection
Escalating or transferring second level or specialized inquiries
Demonstrating broad knowledge of concepts, practices and procedures
Reviewing internal daily, weekly and monthly reports
Processing mobile deposits
Updating procedures
Clean-up projects as assigned
Assessing and processing fees as incurred by our customers
Assisting and providing guidance to branches with rectifying transaction processing and balance discrepancies
Providing insight on training opportunities for business partners and looking for process efficiency
2. Reporting- including reporting general ledgers, federal government payments, B-notices (TIN Notice), annual escheatment, Quarterly MasterCard Reporting
Providing complex transaction assistance for both internal and external customers
Assisting with annual escheatment process
Ensuring general ledgers are accurate and all outstanding items are cleared timely
Reporting bi-weekly federal backup withholding payments and processing the payments
Assisting with cleanup of B-Notices
Month, quarter and year-end functions as required (1099s, tax corrections, RMD letters)
3. Legal- Assist with Legal/regulatory/data reporting in assigned areas including
Responding to Levy and Garnishment requests
Tracking and documentation of legal items
Correctly coding IRA and HSA transactions
Participating in research for subpoena items
Reporting kiting and fraudulent activity to the appropriate compliance/risk/fraud area or escalating to management as appropriate
Creating tax addenda’s and completing tax corrections
Monitoring outgoing funds against the OFAC list
Managing uncollected closed account balances monthly
Maintaining compliance with all applicable regulations with an emphasis on Reg E, Reg GG, and Privacy
4. Compliance Documentation – Specialty desks (Card Management, EFT Disputes, Wires, Cash Management, Fraud)
Providing complex transaction assistance for both internal and external customers
Performing highly regulated operational functions for deposit accounts ensuring satisfactory audit ratings and minimal bank losses
Monitoring transaction/activities ensuring adherence to procedures and regulations
Monitoring all incoming and outgoing ACH activity
Processing daily ACH Positive Pay exceptions, outgoing return items and resolving all incoming ACH returns to ensure timely settlement and client notification
Manage daily review and follow-up on Treasury Reclamation and Death Notices
Reviewing and approving daily wire requests (Incoming, Outgoing, Domestic & International)
Proactively obtaining training on regulations or from vendors to ensure our process remains streamlined and efficient
Participating in implementation and training of software updates and/or regulatory changes including ACH NACHA Rules and MasterCard Chargeback Guide rules
Training staff within and outside of the department
Reviewing MasterCard informative information, bulletins and changes that are occurring
Thoroughly understanding procedures to identify potential fraud when assisting branch staff, compliance and audit
Monitoring of fraud tools (EnFact, Tranblocker, Case Tracker) used by bank for debit cards
Investigation and processing of all Reg E claims
Process chargebacks according to MasterCard rules and regulations
Set up and maintain Cash Management customers and products including ACH, Wires, Sweeps, Fraud Tools, Bill Pay and Mobile Deposit
Process Remote Deposit transactions
Provide excellent service to Cash Management internal and external via phone, email and chat on a daily basis
Process analysis statements by managing pricing exceptions and statement set up via Weiland.
5. Reviewing
Reviewing address changes done daily by comparing letters to Service Now Tickets
Identifying process improvement and efficiencies
Reviewing daily card order report from Client Central
Reconcile all ATM transactions and balance cash
Review Teller Balancing to ensure reported totals reconcile with the system totals
Official check reconciliation and correction
Stop payment review to ensure compliance with expiration date
6. Training and Development
Identifying opportunities and providing training to our business partners and team members
Maintaining an updated training guide of key tasks
JOB REQUIREMENTSEducation-
Required: 2 Year College/ Tech Degree or equivalent experience
Preferred: Bachelor’s’ Degree or equivalent experience
Experience-
Required: 2 to 3 years of bank operations experience
Preferred: 4 years of bank operations experience
SCHEDULEThis position is scheduled to work 40 hours per week from 8:30 am to 5:00 pm. The Company reserves the right to change the schedule as required for business needs.BENEFIT INFORMATIONOur Team Members enjoy a comprehensive benefits package, including:
Health Insurance with two medical plan options as well as dental and vision options.
Employer matched 401(k) plan.
Company-paid life insurance, AD&D and short and long-term disability. Team members can also purchase additional life and AD&D insurances.
Paid Time Off and all Federal holidays observed.
MidCountry Bank is an equal opportunity employer and does not discriminate against otherwise qualified applicants on the basis of race, color, creed, religion, ancestry, age, sexual orientation, marital status, national origin, disability or handicap, veterans status, genetic information or gender identity. MidCountry Bank is an EEO/AA Employer.
Expected salary:
Location: Bloomington, MN
Apply for the job now!
Apply Now
Company: MidCountry Bank
Job description: The pay range represents the anticipated base pay for this position. Actual pay will be based on factoring including, but not limited to: market data, internal equity, skillset and knowledge, experience, education and overall qualifications for the role.JOB SUMMARYThese positions are responsible for all Deposit operations. Responsible for ensuring that all Maintenance/Servicing, Legal, Reporting, Compliance Documentation, Reviewing/QC & Training tasks are completed in compliance with the applicable regulations, MidCountry Bank policies and procedures or special requirements as dictated by the deposit approval authority.Responsible for deposit account daily operations and resolutions. Provides first level support to branch staff regarding customer or account processing issues. Responsible for daily GL reconciliation and maintaining a clean and accurate deposit customer data base. Provides direct external customer support to Cash Management customers.JOB RESPONSIBILITIES1. Maintenance/Servicing – Ensuring accuracy and that system is maintained to the highest standards
Account researching, closure, overdraft limit management and collection
Escalating or transferring second level or specialized inquiries
Demonstrating broad knowledge of concepts, practices and procedures
Reviewing internal daily, weekly and monthly reports
Processing mobile deposits
Updating procedures
Clean-up projects as assigned
Assessing and processing fees as incurred by our customers
Assisting and providing guidance to branches with rectifying transaction processing and balance discrepancies
Providing insight on training opportunities for business partners and looking for process efficiency
2. Reporting- including reporting general ledgers, federal government payments, B-notices (TIN Notice), annual escheatment, Quarterly MasterCard Reporting
Providing complex transaction assistance for both internal and external customers
Assisting with annual escheatment process
Ensuring general ledgers are accurate and all outstanding items are cleared timely
Reporting bi-weekly federal backup withholding payments and processing the payments
Assisting with cleanup of B-Notices
Month, quarter and year-end functions as required (1099s, tax corrections, RMD letters)
3. Legal- Assist with Legal/regulatory/data reporting in assigned areas including
Responding to Levy and Garnishment requests
Tracking and documentation of legal items
Correctly coding IRA and HSA transactions
Participating in research for subpoena items
Reporting kiting and fraudulent activity to the appropriate compliance/risk/fraud area or escalating to management as appropriate
Creating tax addenda’s and completing tax corrections
Monitoring outgoing funds against the OFAC list
Managing uncollected closed account balances monthly
Maintaining compliance with all applicable regulations with an emphasis on Reg E, Reg GG, and Privacy
4. Compliance Documentation – Specialty desks (Card Management, EFT Disputes, Wires, Cash Management, Fraud)
Providing complex transaction assistance for both internal and external customers
Performing highly regulated operational functions for deposit accounts ensuring satisfactory audit ratings and minimal bank losses
Monitoring transaction/activities ensuring adherence to procedures and regulations
Monitoring all incoming and outgoing ACH activity
Processing daily ACH Positive Pay exceptions, outgoing return items and resolving all incoming ACH returns to ensure timely settlement and client notification
Manage daily review and follow-up on Treasury Reclamation and Death Notices
Reviewing and approving daily wire requests (Incoming, Outgoing, Domestic & International)
Proactively obtaining training on regulations or from vendors to ensure our process remains streamlined and efficient
Participating in implementation and training of software updates and/or regulatory changes including ACH NACHA Rules and MasterCard Chargeback Guide rules
Training staff within and outside of the department
Reviewing MasterCard informative information, bulletins and changes that are occurring
Thoroughly understanding procedures to identify potential fraud when assisting branch staff, compliance and audit
Monitoring of fraud tools (EnFact, Tranblocker, Case Tracker) used by bank for debit cards
Investigation and processing of all Reg E claims
Process chargebacks according to MasterCard rules and regulations
Set up and maintain Cash Management customers and products including ACH, Wires, Sweeps, Fraud Tools, Bill Pay and Mobile Deposit
Process Remote Deposit transactions
Provide excellent service to Cash Management internal and external via phone, email and chat on a daily basis
Process analysis statements by managing pricing exceptions and statement set up via Weiland.
5. Reviewing
Reviewing address changes done daily by comparing letters to Service Now Tickets
Identifying process improvement and efficiencies
Reviewing daily card order report from Client Central
Reconcile all ATM transactions and balance cash
Review Teller Balancing to ensure reported totals reconcile with the system totals
Official check reconciliation and correction
Stop payment review to ensure compliance with expiration date
6. Training and Development
Identifying opportunities and providing training to our business partners and team members
Maintaining an updated training guide of key tasks
JOB REQUIREMENTSEducation-
Required: 2 Year College/ Tech Degree or equivalent experience
Preferred: Bachelor’s’ Degree or equivalent experience
Experience-
Required: 2 to 3 years of bank operations experience
Preferred: 4 years of bank operations experience
SCHEDULEThis position is scheduled to work 40 hours per week from 8:30 am to 5:00 pm. The Company reserves the right to change the schedule as required for business needs.BENEFIT INFORMATIONOur Team Members enjoy a comprehensive benefits package, including:
Health Insurance with two medical plan options as well as dental and vision options.
Employer matched 401(k) plan.
Company-paid life insurance, AD&D and short and long-term disability. Team members can also purchase additional life and AD&D insurances.
Paid Time Off and all Federal holidays observed.
MidCountry Bank is an equal opportunity employer and does not discriminate against otherwise qualified applicants on the basis of race, color, creed, religion, ancestry, age, sexual orientation, marital status, national origin, disability or handicap, veterans status, genetic information or gender identity. MidCountry Bank is an EEO/AA Employer.
Expected salary:
Location: Bloomington, MN
Apply for the job now!
Apply Now