Deposit Operations Specialist

Summary

Primarily responsible for verifying the accuracy of deposit account information on the bank's core system, ensuring all required documentation for each account is obtained, scanned, and indexed for record retention purposes.  Also responsible for daily, weekly, and monthly Deposit Operations processes.    

Essential Functions

• Review the accuracy and completeness of new client (CIF) and/or new deposit account(s) documentation, including Customer Identification Program (CIP) and Beneficial Ownership documentation, and data input in the core system.
• Process new account (welcome) letters
• Verify all required account opening documents are accounted for and indexed appropriately in the system; document exceptions and follow-up with branch operations team members as needed.
• Review daily file maintenance changes on client profiles and deposit/CD/SDB accounts for accuracy and verify proper documentation is obtained as applicable (e.g. address change forms, updated signature cards, other legal documentation)
• Review daily intrabank transfers as per policy.
• Process CD interest checks and IRA distribution checks
• Review new and renewed CDs including rate exceptions.
• Prepare Deposit Rate Committee reports (i.e. CD Rate Exceptions, Closed Account reports, Deposit Override Rates)
• Submit WSB rates to S&P weekly and forward updates to management.
• Process notaries’ certifications, order notary supplies, and submit payments to WSB Insurance
• Report on special purpose accounts
• Remit interest to the state of Texas and NM for IOLTA accounts
• Distribute Past due Safe Deposit Box Reports to Branch Operations and perform monthly verification of Past Due SDBs according to SCRA procedures.
• Assist with IRA reviews and IRA Mandatory Distributions
• Assist with escheatment process to include daily maintenance.
• Process CIF Grouping/Decommissioning
• Perform other duties as assigned.

Required Education, Experience, Skills

• One or more years banking experience preferred.
• High school diploma or equivalent
• Familiarity with account documentation preferred.
• Proficient computer skills and working knowledge of Microsoft applications (Excel, Word, etc.)
• Excellent communications (both verbal and written) and organizational skills.
• Must have ability to effectively communicate with peers.
• Ability to multitask and manage large workloads.
• Successful completion of teller/new account training and any other compliance training deemed necessary by the bank.

Equipment Used

• Standard office equipment such as computers, phones and photocopiers.

Working Conditions/Physical Requirements

• Office setting

WestStar is an Equal Opportunity Employer and does not discriminate on the basis of any protected trait, including gender, race, ethnicity, disability, or veteran status.