Deposit Operations Analyst

Description

LGFCU & CIVIC CULTURE

Our organizations believe we can all do well by doing good. We value the contributions of diverse minds and prioritize the success and well-being of our employees. We also believe every person in our organization plays a role in supporting a healthy environment and helping to achieve our goal of prosperity for all. To this end, we recruit bright, energetic, and talented people to be members of our team. In return, we offer a dynamic workplace that presents opportunities for professional advancement and individual growth. We strive to always display integrity, self-awareness, courage, and respect for one another while continuing to seek opportunities to learn. We really believe that when our employees succeed, our community wins. 

ABOUT THE POSITION

The Deposit Operations Analyst will act as the internal point of contact for any questions relating to operations including complex issues that fall outside of the normal daily operations tasks and work with various systems, vendors and departments to provide solutions. The individual in this role is responsible for maintaining compliance with all federal regulations, managing appropriate member notifications and government reporting as required by law. Provides service and support to Credit Union deposit service programs/initiatives and/or products to stimulate new growth and enhance member relationships.

NORMAL DAY-TO-DAY WORK

1. Process all daily and advanced Operations functions, including ACH transactions, item processing, returned deposited items, review remote deposit capture (RDC), wire transfers, negative accounts, stop payments, unauthorized/disputed transactions, supporting notices and statements.
2. Analyze daily deposit functions, which includes but is not limited to member record and deposit account maintenance, monetary transfers, official check reconcilement, check fraud suspect review and document scanning and indexing and escalates items as needed to internal departments. 
3. Process IRA contributions and distributions required minimum distributions and tax reporting; tax attachments (e.g., garnishments, levies); subpoenas; member account fraud; and deceased member processes including reclamations, review of approval of probate documentation (e.g., Letters of Testamentary, Letters of Administration, Spousal Allowance) and the appropriate distribution and closure of accounts.
4. Review and verify data and/or documents daily to ensure accuracy, compliance and verify reconciliation. 
5. Perform financial and/or regulatory report reviews and follow-up in relation to Reg. E, Reg. CC and Reg. D excessive transaction monitoring, and other regulatory/compliance functions. Escalate items of concern as needed to internal departments including analyzing of a variety of monthly statistics for large ACH origination members and provide volume and value trends and reports.
6. Handle complex issues and possesses current knowledge of specific financial products and regulations. Work with Operations team to research, analyze, recommend, and implement deposit initiatives. Implement new products and services.
7. Research and analyze relationship reward programs and makes recommendations on fee structures to help determine the best program for our members.
8. Provide recommendations for service improvements based on analyzed data and internal and external member feedback. Communicate changes, enhancements, and modifications through effective documentation.
9. Review reports from core system to identify, analyze and track ACH return activity (both originated and received) to identify high risk originators and out of pattern activity. Notify Risk and Compliance of any findings immediately so appropriate action can be taken.
10. Verify incoming and outgoing wire transfers, to ensure compliance requirements set by the Bank Secrecy Act, including OFAC rules and regulations are met. Escalate items of concern to management and other internal departments as needed.

JOB QUALIFICATIONS 

Here are a few skills you MUST have to be qualified for this position. 

1. Minimum 4 to 6 years Financial Institution experience. 
2. Minimum 1 to 3 years’ experience in operations and/or deposit servicing.
3. Knowledge of financial deposit products and services.
4. Must be willing to work flexible work hours, including some evenings.
5. Ability to function in a Consumer business office environment and utilize standard office equipment including but not limited to: PC, copier, telephone, etc.
6. Ability to lift a minimum of 25 lbs. (file boxes, computer printer).
7. Travel required sometimes.

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Here are a few qualities we’d LIKE for you to have to make you more suited for this position. 

1. Four-year degree from accredited college/university preferred. 
2. AAP and/or NCP Certification preferred.

If you have questions about this position description, please feel welcome to ask. You can reach our HR Department at: 

LGFCU Human Resources

3600 Wake Forest Road, Raleigh, NC 27609 

careers@lgfcu.org

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