Purpose: The Deposit Operations Manager has responsibility for the administration of the Deposit Operations teams, including wire operations, deposit operations and lockbox as well as other internal control responsibilities. Responsible for managing the daily operations of the team to ensure effective and efficient operations, while adhering to all Bank policies and procedures, federal regulations and applicable laws while providing excellent service. This includes monitoring activities and supervision of deposit operations functions including, but not limited to, Account Maintenance, Deposit Account Quality Assurance, IRA and HSA administration, Death Claims, Research, Statements and Notices, Rate Changes, Safe Deposit Box, Lockbox, Tax Reporting, Deposit Account Management, Dormant/Escheatment and Exception item Processing. The Deposit Operations Manager plays a key role in enhancing customer satisfaction, operational efficiency and financial accuracy.
This position is responsible for minimizing risk and financial loss by developing and implementing efficient processes and controls within areas of supervision.
In the broader Internal Control capacity, this Manager works with business partners throughout the company to assist in the implementation of technology advancements, enabling streamlined and efficient, straight-through processing of daily tasks throughout the Bank (with a particular focus on improving performance of Operations department functions whether by changing processes within the department or upstream/downstream.) This position is responsible for minimizing risk and financial loss by developing and implementing effective processes and controls within areas of supervision.
Essential Functions:
- Oversee the operations of wire operations, lockbox and deposit services teams activities, ensuring compliance with regulations, internal processes, and policies. Maintain internal controls, as identified in the PRC Library related to operational functions.
- Ensure all staff and supervisors effectively perform all essential job responsibilities accurately and timely, per bank policy and procedures, regulations, and internal controls.
- Build and maintain a highly performing, motivated team, providing leadership, coaching and direction. Manages performance of direct reports and provides ongoing coaching and training opportunities to ensure staff has the skills and resources to be successful.
- Responsible for timely completion of performance evaluations of assigned staff. Develop staff to align individual knowledge and skills with job functions and job performance expectations.
- Support a culture of continuous learning, improvement, and process excellence.
- Working with the appropriate business units, including Retail, Commercial and Treasury to ensure appropriate processes are in place to manage the business needs within compliance, legal and risk requirements with a customer focus.
- Leverage operational efficiencies to improve customer experience by reviewing operational processes, identifying process improvements and ensuring processes are effective, compliant, and performed within previously identified SLAs.
- Manage operational incidents and identify and implement initiatives to reduce the number of incidents (including root cause analysis).
- Assess the adequacy of controls to manage operational risks, present results and recommend actions and improvements.
- Partner with other units in business case development and functional specification for new technology and systems related to deposit operations initiatives.
- Coordinate the daily activities within all areas of supervision.
- Ensures that departmental activities are compliant with audit and risk management policies and regulations. Manages and prepares responses to audit findings, examiner reviews, or other regulatory information requests in a timely and comprehensive manner.
- Communicate with bank staff and management concerning issues/problems/decisions with accounts and customer relationships.
- Reviewing operational processes for the areas of responsibility, identifying process improvements and ensuring processes are effective.
- Demonstrate the standards and principles of the Five Star Bank experience in every interaction with internal and external customers, associates, and stakeholders. Incorporate the high-performance behaviors of teamwork, leading by example, and service in every facet of work.
Job Related Qualifications:
Required:
- Education: High School Diploma. Bachelor’s Degree preferred.
- Prior Experience: 5+ years of Banking Operations experience, with a minimum of 3+ years of supervisory experience.
Competencies:
- Strong relationship building skills with the ability to collaborate with various business partners on technology efficiency and functionality.
- Excellent attention to detail and strong organization and project management skills with ability to meet established deadlines.
- Highly analytical with both data and process management skills.
- Technical proficiency in all areas of bank operations (Wires, Lockbox, NACHA rules and regulations, Exception Item Processing, Abandoned Property, adverse claims, etc.).
- Experience with Microsoft Office applications and ability to learn and utilize new and existing banking software applications.
- Excellent written and verbal communication skills with ability to convey information to all levels of staff.
Physical Requirements:
- Able to regularly sit for prolonged periods of time.
- Extensive computer usage is required.
Able to travel:
Ability to work:
- Evenings
- Occasionally
- Weekends
- Occasionally
Benefits:
- Medical, Dental, and Vision Insurance
- Health Savings Account
- Flexible Spending Account(s)
- Company Paid Life Insurance, Long-Term Disability, and Short-Term Disability
- Voluntary Offerings: Life, Critical Illness/Specified Disease, Accident, Hospital Indemnity & Personal Accident
- Tuition Reimbursement
- Employee Referral Program
- Wellness Reimbursement Program
- Star Volunteer Program
- Employee Banking and Financial Perks
- Flexible Hybrid Work Schedule
- Paid Time Off (PTO)
- Company Paid Holidays
This job description is not exhaustive. The Deposit Operations Manager may be required to perform other duties as assigned. The expected rate of pay for this position is shown above. Compensation offers are based on a wide range of factors including relevant skills, training, experience, education and, where applicable, licenses or certifications obtained. Market and organizational factors are also considered. In addition to your base rate of pay and a competitive benefits package, successful candidates may be eligible to receive cash or equity-based incentives based on the role and performance.