What are the responsibilities and job description for the Deposit Services Representative position at Institution for Savings?
Deposit Operations Representative
79 State Street, Newburyport
Institution for Savings is seeking a full-time Deposit Operations Representative to work in-office at the Bank's Retail Operations Center in Newburyport. This is a retail operations position within the Deposit Operations team which is primarily responsible for reviewing and managing reports, file maintenance and providing exceptional customer service through a variety of communication channels to customers.
Key Responsibilities include:
79 State Street, Newburyport
Institution for Savings is seeking a full-time Deposit Operations Representative to work in-office at the Bank's Retail Operations Center in Newburyport. This is a retail operations position within the Deposit Operations team which is primarily responsible for reviewing and managing reports, file maintenance and providing exceptional customer service through a variety of communication channels to customers.
Key Responsibilities include:
- Processing and review account maintenance requests to ensure accuracy, completeness, and compliance with bank policies and regulatory requirements.
- Review and process online account applications, assessing fraud risk, verifying documentation, and resolving discrepancies.
- Print and process interest, IRA distribution, holiday club, and related account checks.
- Process foreign checks and IRA checks in accordance with established procedures.
- Process returned mail and perform required account follow‑up actions.
- Complete verification requests for deposits, Social Security, and Medicaid asset verification inquiries.
- Review redeemed savings bonds and related documentation.
- Research and reconcile deposit general ledger accounts, ensuring timely resolution by processing correcting entries and adjustments so customer transactions are accurately reflected.
- Handle incoming and outgoing Federal Reserve adjustments.
- Support fraud detection and investigation efforts by monitoring transactions and reports to identify potential fraud, irregular activity, or processing anomalies.
- Process levies, garnishments, and other legal orders in accordance with regulatory requirements and bank procedures.
- Perform quality control reviews of reports and completed work to ensure documentation completeness, regulatory compliance, and accurate fulfillment of requests.
- Review and sort incoming branch work, completing requests or distributing items to appropriate team members.
- File, maintain, and purge daily branch work in accordance with record retention guidelines.
- Assist with the annual unclaimed property reporting and remittance process, including account review, due diligence, and required submissions.
- Provide back‑office operational support to branch staff and internal teams by researching issues, responding to inquiries, and resolving deposit‑related requests.
- Acknowledge and respond to customer email requests in a secure and compliant manner.
- Serve as a backup resource across Deposit Operations functions to support workflow continuity and coverage.
- Complete required annual regulatory and job‑specific training and adhere to all applicable regulations and internal policies.
- Perform other related duties as assigned to support efficient deposit operations and overall operational effectiveness.
Qualifications:
- 3-5 years of experience in deposit operations.
- Ability to understand system functionality, product dependencies and products across platforms.
- Strong communication and collaboration skills with the ability to work effectively across Bank departments
- Working knowledge of security, risk and compliance.
- Strong organizational skills and attention to details.
We offer an excellent benefits package including the following:
- 100% paid medical
- 100 % paid dental
- 100% paid vision insurance
- 401(k) match up to 10%,
- Life insurance
- Pet insurance
- Disability plan
- Pension plan after 2 years of service
- Generous vacation and paid-time off
The Institution for Savings is an Equal Opportunity Employer. Member FDIC. Member DIF.
Salary : $23 - $28