Deposit Account Services Specialist

Job Description

Job Description

SUMMARY

The position of Deposit Account Services Specialist requires knowledge of our core system, our deposit products, business analysis and dynamic options, Compliance and IRS and State of NC regulations pertaining to escheat, B and C notices and NRA’s. Also required is the ability to balance internal bank accounts; General Ledger accounts, FRB and BOA (correspondent bank) accounts and understand CDARS and ICS accounts. File maintaining accounts for set up or correction of customer accounts as necessary or by request from the branch; Areas of concentration : Deposit accounts; Cash letter adjustments, Charged off accounts and recoveries; State and Federal withholding; IRA Contributions and Distributions. HSA accounts, Qwickrates, CDARS and Brokerage accounts. Keep up with regulations and compliance issues for Deposit accounts. Attend training as requested, Test new release information and assist with conversions.

ESSENTIAL FUNCTIONS

• Receive all new and revised deposit account signature cards, DDA, Savings and CD. Review all Health Savings and IRA paperwork for accuracy, compliance etc.
• Process contact notes and / or email from Branches and Customer service. Assist in correcting account errors and update accounts ex dormant accounts; return mail, closed and charged off accounts etc.
• Process Cash Letter adjustments / corrections on customer deposits & paid items.
• Assist Cash Management, Business Support and Branches with questions involving Business Accounts, Account Analysis and Dynamic Transfers.
• Reconcile Bank of America (BOA), Federal Reserve Bank (FRB), and PCBB statements daily. Prepare FRB Currency adjustments, BOA Foreign Item Adjustment and Viewpointe adjustments.
• FDIC Totals for Finance Dept / Prepare FR 2900 Report.
• Reconcile and process adjustments for Internal DDA accounts (IRA, CD, OC, Holiday Club). Review stale-dated Official, CD and IRA checks for Operational Risk Department.
• Balance ACH Origination and Received files daily.
• Process Unposted Items for Certificate of Deposits, Safe Deposit Boxes, General Ledger and IRA’s.
• Process Return Mail.
• Remit IOLTA to NC and SC Bar Associations.
• Assist Branch and Branch Support with customer questions regarding IRA and Health Savings account transactions, compliance, eligibility etc. Review and process transaction requests for IRA accounts.
• Review daily Charged Off accounts and report to Chexsystems per procedures. Manually charge off Fed Benefit negative balance accounts.
• Report daily Charge off Recoveries to Chex Systems and credit amounts recovered by Chexsystems to the charged off accounts.
• Open and monitor special accounts ex : Qwickrate CD’s, ICS & CDARS accounts. Balance the GL’s to the Promontory Reports in the Promontory Portal. Assist customers with questions.
• Balances GL Settlement and Recon for numerous GL accounts including : CD / IRA / SV& DDA Overdraft, Intransit and SDB; Cash in Transit; Cash Over / Cash Short; Check Deposits in Transit GL, GL Out of balance acct, ATM GL, Cash General Ledgers, Unposted GL Items.
• Reg D Exceptions. Mail customer correspondence and / or change account type with 4th letter.
• Daily settlement of Direct Exchange (Viewpointe).
• Process IRS Levies and Garnishments. Hold funds in account, inform customer, branch and remit payment per instructions.
• Review and process Indemnifying Agreements for accuracy and completeness.
• Annually send Escheat letters for all deposit accounts, bank checks and safe deposit box contents that are scheduled for escheatment. Report and remit to NC State Treasurer annually in October.
• View daily / monthly reports for exceptions and error; research and correct.
• Monthly review the Preneed Burial reports, make corrections and send report to funeral homes.
• Research customers / accounts listed on the annual IRS B&C notices and IRS Penalty letters to determine incorrect reporting and / or generate letters to customers informing them of required back up withholding. Begin backup withholding per IRS regulations.
• Begin back up withholding on expired W-8s in January.
• Assist in testing the GUI (core) system for annual releases and updates.
• Assist in merger and acquisitions through testing and post-merger review. Upon request attend merger meetings and / or be available to visit acquired bank prior to merger to view account set up etc.
• Assist Branch Support, Business Support, Branches and Customer Service on a variety of areas involving deposit accounts with customer inquiries, system options and valid values in BCR records.
• Review and update Deposit Account procedures consistent with product changes as directed by Executive Management.
• Completes annual compliance courses.
• Adheres specifically to all corporate policies and procedures. Also adheres to Federal and State regulations and laws; including, the Bank Secrecy Act and the Anti-Money Laundering Act.
• Adheres to all levels of our Service Excellence standards.
• Performs other duties as required.

GENERAL QUALIFICATIONS

Knowledge & Experience : These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. Individual abilities may result in some deviation from these guidelines.

Physical Demands / Work Environment : Vision, hearing, speech, dexterity, visual concentration. A valid driver’s license is required. Must have the ability to stand, walk, sit and use hands and fingers. Must have the ability to work the hours and days required to complete the essential functions of the position, as scheduled. The environment is a professional office with standard office equipment.

Cognitive Requirements : Learning, thinking, concentration, ability to exercise self-control, ability to work in a customer relations’ environment. Must be able to pay close attention to detail and be able to work as a member of a team. Must have the ability to interact effectively with co-workers and customers, and exercise self-control and diplomacy in customer and employee relations’ situations. Must have the ability to exercise discretion as well as appropriate judgments when necessary.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.